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: 1.883 million (2022)
GDP: 41.15 billion USD (2022)
Corporate Tax Rate: 20%
Personal Income Tax Rate: 20% - 23%
Major Exports: The top exports of Latvia are Sawn Wood ($1.25B), Wheat ($1.22B), Petroleum Gas ($1.17B), Electricity ($843M), and Fuel Wood ($712M), exporting mostly to Lithuania ($4.09B), Estonia ($2.26B), Germany ($1.44B), Russia ($1.26B), and Sweden ($1.19B).
Major Imports: The top imports of Latvia are Petroleum Gas ($2.46B), Refined Petroleum ($1.57B), Electricity ($1.47B), Cars ($788M), and Packaged Medicaments ($714M), importing mostly from Lithuania ($6.18B), Estonia ($2.77B), Germany ($2.49B), Poland ($2.48B), and Russia ($1.77B).