Europe / Caspian / CIS
Country profile: Latvia
| Location: | Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania |
| Climate: | maritime; wet, moderate winters |
| Terrain: | low plain |
| Size: | 64589 sq. km total (Land area: 63589 sq. km Water area: 1000 sq.km) |
| Population: | 2,245,423 (July 2008 est.) |
| Languages: | Latvian (official) 58.2%, Russian 37.5%, Lithuanian and other 4.3% (2000 census) |
| Government: | parliamentary democracy |
| Capital city: | Riga |
| Legal system: | based on civil law system with traces of Socialist legal traditions and practices; has not accepted compulsory ICJ jurisdiction |
| Currency: | lat (LVL) |
| Licensing: |
Country profile
Alone among the former Soviet republics, the Baltic Sea region states of Estonia, Latvia, and Lithuania were quick to adopt market economies and to implement democratic reforms. As a result, they largely have avoided the economic and political crises that have beset other regions in transition from centrally planned economies, including the Balkan region and southeastern Europe. Privatization in the Baltics is nearly complete, and in 2005, despite the continuing slowdown in the global economy, the three countries posted an average 9.2 percent increase in their real gross domestic product (GDP).
With a combined population of only 7.2 million people, Estonia, Latvia, and Lithuania have achieved greater presence in the international community by joining forces in a number of political and economic arenas. In 2004, after years of preparations, Estonia, Latvia, and Lithuania joined the North Atlantic Treaty Organization (NATO) as well as the European Union (EU). Originally planned for 2007, adoption of the common European currency has been delayed until 2009, as all three Baltic states’ average inflation levels remain above the Maastricht inflation criterion.
Energy production and consumption
| Oil | Gas | |
| Production: | ||
| Consumption: | 34,000 bbl/day (2005 est.) | 1 billion cu m (2005 est.) |
| Exports: | 6,765 bbl/day (2005 est.) | |
| Imports: | 39,190 bbl/day (2004 est.) | 1 billion cu m (2005 est.) |
| Reserves: | ||
| Major fields: |
Latvia - recent news
| 17 Jun 26 |
Latvia: European Energy to inaugurate first solar park in Latvia European Energy will today inaugurate the 148 MWp Targale Solar Park in Ventspils Municipality, its first completed and fully grid-connected renewable energy project in Latvia. |
| 05 Jun 26 |
Latvia: EBRD helps HoSt Group boost biomethane production in Latvia The European Bank for Reconstruction and Development (EBRD) is boosting Latvia’s biomethane production capacity and use of renewable fuels with a €26 million loan to SIA Next Biogas, a subsidiary of the Netherlands-based HoSt Group. |
| 07 Jul 25 |
Latvia: SUNOTEC acquires large-scale co-located park with 400 MWp PV solar and 600 MWh BESS storage in Latvia from Danish Sun Energy SUNOTEC, one of Europe’s leading renewable energy development and construction companies, has acquired 100% of the share capital in SIA DSE Lazas Solar from Danish greenfield developer Danish Sun Energy to build a new PV solar power plant with a total capacity of 400 MWp (megawatts DC) with a storage capacity of 600 MWh (megawatthours) battery storage with commissioning planned for March 2027). |
| 01 Jul 25 |
Latvia: Nordex Group to deliver 21 turbines totalling 147 MW for largest wind project to date in Latvia The Nordex Group is supplying and installing 21 N163/6.X turbines for the Pienava wind farm in Latvia. Totalling 147 MW it is the largest wind project to date in the country. |
| 11 Jun 25 |
Latvia: Eolus sells Latvia’s largest wind power project to Latvenergo Eolus, a leading developer of innovative and customized renewable energy solutions, has sold the greenfield-developed wind power project Pienava, totaling 147 MW, to Latvenergo, Latvia’s state-owned energy company. |
Latvia - more news
Other countries in this region
- Afghanistan,
- Albania,
- Armenia,
- Austria,
- Azerbaijan,
- Belarus,
- Belgium,
- Bosnia and Herzegovina,
- Bulgaria,
- Croatia,
- Cyprus,
- Czech Republic,
- Denmark,
- Estonia,
- Faroe Islands,
- Finland,
- France,
- Georgia,
- Germany,
- Greece,
- Greenland,
- Hungary,
- Iceland,
- Ireland,
- Italy,
- Kazakhstan,
- Kyrgyzstan,
- Lithuania,
- Luxembourg,
- Malta,
- Moldova,
- Montenegro,
- Netherlands,
- Norway,
- Poland,
- Portugal,
- Romania,
- Russia,
- Serbia,
- Slovakia,
- Slovenia,
- Spain,
- Sweden,
- Switzerland,
- Tajikistan,
- Tatarstan,
- Turkey,
- Turkmenistan,
- Ukraine,
- United Kingdom,
- Uzbekistan
