Latvia

On this page you will find beneficial information regarding foreign direct investment in / trading with Latvia. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.

It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.

Type of Government: Parliamentary Republic
Population: 1.885 million (2021)
GDP: 39.85 billion USD (2021)
Corporate Tax Rate: 20%
Personal Income Tax Rate: 20% - 23%
Major Exports: Sawn Wood ($1.42B), Wheat ($892M), Broadcasting Equipment ($704M), Packaged Medicaments ($615M), and Fuel Wood ($601M), exporting mostly to Lithuania ($3.35B), Estonia ($1.81B), United Kingdom ($1.5B), Germany ($1.44B), and Russia ($1.38B).
Major Imports: Refined Petroleum ($1.85B), Packaged Medicaments ($715M), Broadcasting Equipment ($691M), Electricity ($688M), and Cars ($647M), importing mostly from Lithuania ($3.65B), Russia ($3.52B), Germany ($2.25B), Poland ($2.07B), and Estonia ($1.95B).

April 28, 2023
An Overview of the Latvian eCommerce Sector

An Analysis of the Major Imports in Latvia

September 14, 2022
An Overview of the Latvian eCommerce Sector

How to register a trademark in Latvia

August 7, 2022
An Overview of the Latvian eCommerce Sector

Trademark Registration in Latvia

August 1, 2022
An Overview of the Latvian eCommerce Sector

Employment Practices and Legislation in Latvia

July 21, 2022
An Overview of the Latvian eCommerce Sector

Government Policy on Foreign Investment in Latvia

July 10, 2022
An Overview of the Latvian eCommerce Sector

The Impact of COVID-19 on the Service Sector in Latvia

July 7, 2022
An Overview of the Latvian eCommerce Sector

An Analysis of the Major Imports in Kenya

June 29, 2022
An Overview of the Latvian eCommerce Sector

Mineral Resources in Latvia

June 18, 2022
An Overview of the Latvian eCommerce Sector

Business Associations and Their Role in Economic Growth in Latvia

June 7, 2022
An Overview of the Latvian eCommerce Sector

The Major Exports in Latvia

May 26, 2022
An Overview of the Latvian eCommerce Sector

Corporate Taxation in Latvia

February 6, 2022
An Overview of the Latvian eCommerce Sector

Successful Global Expansion of Companies in Latvia

January 30, 2022
An Overview of the Latvian eCommerce Sector

An Overview of the Latvian eCommerce Sector

November 11, 2021
The Advantages of Incorporating in Latvia: A Gateway to the Baltic and European Markets

The Advantages of Incorporating in Latvia: A Gateway to the Baltic and European Markets

July 20, 2021
An Overview of the Latvian eCommerce Sector

Protecting Your Intellectual Property in Latvia