About Latvia
About Latvia
Safeguarding Wealth with Precision and Trust
Latvia is a country on the Baltic Sea between Lithuania and Estonia. Its landscape is marked by wide beaches as well as dense, sprawling forests. Latvia’s capital is Riga, home to notable wooden and art nouveau architecture, a vast Central Market and a medieval Old Town with St. Peter’s Church. Riga’s museums include the Latvian Ethnographic Open-Air Museum, showcasing local crafts, food and music.
Population
1.879 million
Language
Latvian
Currency
Euro
Political Structure
The politics of Latvia takes place in a framework of a parliamentary representative democratic republic, whereby the Prime Minister is the head of government, and of a multi-party system. The President holds a primarily ceremonial role as Head of State.
Infrastructure and Economy
Latvia has a relatively well-developed infrastructure and a diversified industrial base, which accounts for about 26% of GDP. Agriculture constitutes approximately 5% of GDP and centers around the cultivation of potatoes, cereals, fodder, and other crops, as well as dairy farming. The largest sector of the economy is the service sector, with wholesale and retail trade, transportation, financial services, communications, and real estate management the most important industries.
