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About Latvia

Latvia, officially known as the Republic of Latvia is a country in the Baltic region of Eastern Europe. Latvia was earlier part of the USSR (Soviet Union)

The country is part of the Europen Union and is considered as a developed country with High Human Index. It holds an Open Economy and has privatized almost all its organizations. The prominent industries are Agriculture, Energy, and Tourism.

Latvia has a Residence by Investment (Golden VISA) to attract Foreign Investors to benefit from the local economy.

Country Facts


Basic Details
RegionEastern Europe
Capital CityRiga
Government TypeParliamentary Republic
Official LanguagesLatvian
CurrencyEuropean euro, EUR
Phone Code +371
Important CitiesDaugavpils, J?kabpils, Jelgava, J?rmala, Liep?ja, R?zekne, R?ga, Valmiera, Ventspils
National DayProclamation Day of the Republic of Latvia (Nov-18)
GDP (nominal)USD 46.668 Billion
Ease of Doing Business Ranking19
Primary IndustriesAgriculture,Energy,Tourism
Foreign Relations
Bordering NationsEstonia, Russia, Belarus, Lithuania
Member ofNorth Atlantic Treaty Organization(NATO), ( Council of Europe), ( European Union), ( Union for the Mediterranean), ( United Nations), ( Members of the Unrepresented Nations and Peoples Organization)
Major ExportsWood and Pulp, Mining, Metals & Minerals, Electrical Products, Machinery & Appliances, Cereals & Pulses, Automobiles, Vehicles & Components, Food & Beverages, Spirits & Vinegar, Pharmaceutical Products, Household Items & Products, Rubber and Products, Chemical Products, Cosmetics and Accessories, Fisheries, Sea Food & Crustaceans, Vegetables and Related Products, Edible Oils & Seeds, Toys and Games, Agriculture & Farming Products and Solutions, Hides, Leather & Tannery
Major ImportsMining, Metals & Minerals, Electrical Products, Machinery & Appliances, Automobiles, Vehicles & Components, Plastics and Products, Wood and Pulp, Pharmaceutical Products, Aviation Vehicles, Food & Beverages, Spirits & Vinegar, Animal Meat and Food Preperations, Vegetables and Related Products, Cosmetics and Accessories, Fisheries, Sea Food & Crustaceans, Chemical Products, Toys and Games, Hides, Leather & Tannery
Total Exports ValueUSD 22.494 Billion
Total Imports ValueUSD 27.901 Billion
Foreign Trade BalanceUSD 5.407 Billion (Deficit)
Foreign Relations with India
Trade Agreements with IndiaBilateral trade stood at about US $ 141 million 2015-16. Major Indian exports are tea, coffee, tools, pharmaceuticals, chemicals, garments, iron & steel etc. Major Indian imports include chemicals, fertilizers, iron & steel, machinery etc. There is scope for growth of textiles, agro-products, gems and jewellery, chemical dyes and pharmaceuticals.
Major Exports to IndiaMining, Metals & Minerals, Chemical Products, Instruments & Optical Solutions, Hides, Leather & Tannery, Food & Beverages, Spirits & Vinegar, Dairy, Eggs, Honey, & Edible Products, Cereals & Pulses, Household Items & Products, Automobiles, Vehicles & Components, Books and Papers, Fashion and Apparel, Vegetables and Related Products, Building & Construction Products & Services, Silk & Textiles, Other Products
Major Imports from IndiaRubber and Products, Mining, Metals & Minerals, Silk & Textiles, Fisheries, Sea Food & Crustaceans, Plastics and Products, Chemical Products, Food & Beverages, Spirits & Vinegar, Automobiles, Vehicles & Components, Fruits and Nuts, Household Items & Products, Animal Meat and Food Preperations, Glass and glassware
India's Imports ValueUSD 250.12 Million
India's Exports ValueUSD 187.31 Million
Trade Balance with IndiaUSD 62.81 Million (Excess)
Indian Embassy Details for LatviaEmbassy of India in Sweden (Accredited to Latvia)
H.E. Tanmaya Lal
Honourable Ambassador
Adolf Fredriks Kyrkogata 12, Box 1340, 111 83 Stockholm, Sweden
(+46) 08-107008, 08-4113213

Embassy Details of Latvia in IndiaEmbassy of Latvia
H.E. Juris Bone
B-8Anand NiketanNew Delhi-110021
+91-11-49859100 (O)

Honorary Consulate of the Republic of Latvia in Mumbai
H.E. Capt. Avinash Batra
Honorary Consul
Seahorse Ship Agencies Pvt Ltd Seahorse House, Adi Marzaban Street, ballard Estate Mumbai - 400001
022-40737171/22691837/9820039239 (O)

Honorary Consulate of the Republic of Latvia in Bengaluru
H.E. Mr. Kumara Swamipalani Balasubramaniam
Honorary Consul
231, Upper Palace Orchard, 18th Cross,
08022297913 (O)

Honorary Consulate of the Republic of Latvia in Chennai
H.E. Mr. Narayanswamy Ramachandran
Honorary Consul
Khivraj Complex II, 2nd Floor 480,Anna Salai, Nandanan Chennai - 680035
044-24340252/9940233733 (O)