Latvia

Latvia is a country located in Eastern Europe along the Baltic Sea, between Estonia and Lithuania, covering an area of approximately 64,589 square kilometers. As of 2025, Latvia has a population of about 1.89 million, with Latvian as the official language spoken by 56.3% and Russian spoken by 33.8%. The country features a low plain with a maritime climate of wet, moderate winters. Riga serves as the capital, and the government operates as a parliamentary republic.

Latvia has a high-income economy with a GDP of $43.52 billion and a GDP per capita of $38,900, driven by processed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, and electronics. Key agricultural products include wheat, milk, rapeseed, barley, oats, and potatoes, while natural resources include peat, limestone, dolomite, amber, timber, and hydropower. The unemployment rate is 6.6% as of 2025, with a poverty rate of 22.5%. As a member of the European Union and eurozone, Latvia faces challenges including skilled-labor shortages, capital market access issues, a large informal sector, and the need to manage green and digital transitions.