Latvia – Fast Facts
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Latvia is an upper middle-income economies coming under the Europe and Central Asian region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The Latvian economy has experienced a faster economic growth rate in the recent years. It joined the European Union in the year 2004. Implementation of Privatization process has brought tremendous success for the economy. Services constitute the largest share in the total GDP followed by Industries.
Latvia is an upper middle-income economies coming under the Europe and Central Asian region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The Latvian economy has experienced a faster economic growth rate in the recent years. It joined the European Union in the year 2004. Implementation of Privatization process has brought tremendous success for the economy. Services constitute the largest share in the total GDP followed by Industries.
Major agricultural products of the country are grains, potatoes, vegetables, flax, milk, egg and fish. Important industries in the country are fertilizers, agricultural machinery, timber, woolen goods, and leather footwear.
