Economy of Latvia

According to Numbeo’s cost of living survey, Latvia takes the 52nd place and 19th on ease of doing business list (World Bank).

GDP nominal – 2018 estimate
• Total $30.176 billion
• Per capita $18,472

GDP (PPP) – 2018 estimate
• Total $53.467 billion
• Per capita $29,489

GDP Growth: 4.5% 2017 (CSB)

Average gross salary
€1004, monthly (2018, quarter II)[3]

Average net salary
€743, monthly (2018, quarter II)[4]

Public Debt/GDP: 36.2% of GDP (2018 quarter I)

Unemployment
• 7,7% (2018, quarter II)

Inflation: 2,9% (CPI, 2017)
(Source:Wikipedia)

Main industries are: food, wood, textiles and metals processing, pharmaceuticals, railroad cars, synthetic fibers, electronics.

Establishing limited company – SIA costs approximately 200 eur and minimum capital is 1 eur. Corporate income tax is 20%.

Source: Investment and Development Agency of Latvia