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Home >> World Economy >> Economic Structure of Latvia

Economic Structure of Latvia

Economic Indicators Economic Structure of Latvia Export & Import Insurance Mortgage Stock
 

STRUCTURE OF THE ECONOMY

Among various sectors of the economy, the industries have the largest contribution to the total GDP.


Contribution of the services sector in the total GDP of the country is marked to be highest. It was of 72.9 percent in 2003.

Major industries of the country are fibers, machinery, fertilizers, electronics, textiles and timber. Important agricultural products of the country are sugar, potatoes, vegetables, grains, milk, eggs and fish.

The following table shows the average annual growth rate of various sectors of the country over the years.



The value additions by different sectors as the percentage of the total GDP of the country are as follows:

Value Added (% Of Gdp) 2000 2003 2004
Agriculture, value added (% of GDP) 4.5 4.1 4.1
Industry, value added (% of GDP) 23.3 22.2 22.5
Services, etc., value added (% of GDP) 72.2 73.7 73.4


Structure Of Economy