Latvia

Latvia regained independence in 1991. Following years of economic stagnation in the early 1990s, Latvia posted Europe-leading GDP growth figures during the 1998–2006 time period. In the global financial crisis of 2008–2010 Latvia was the hardest hit of the European Union member states, with a GDP decline of 26.54% in that period. Per Capita its GDP is only 57.3% of the EU average, making it one of the poorest member-states.



Located on the eastern shore of the Baltic Sea, Latvia lies on the East European Plain. However, in vegetation is much different than the rest of the plain and shares many similarities with the boreal biome. It consists of fertile, low-lying plains, largely covered by forest, mostly pines, the highest point being the Gaiziņkalns at 311.6 m (1,022 ft). Phytogeographically, Latvia is shared between the Central European and Northern European provinces of the Circumboreal Region within the Boreal Kingdom. According to the WWF, the territory of Latvia belongs to the ecoregion of Sarmatic mixed forests. The major rivers include the Daugava River, the Lielupe, the Gauja, the Venta, and the Salaca. An inlet of the Baltic Sea, the shallow Gulf of Riga is situated in the northwest of the country. Latvia's coastline extends for 531 kilometres.



Since the year 2000 Latvia has had one of the highest (GDP) growth rates in Europe. However, the chiefly consumption-driven growth in Latvia resulted in the collapse of the Latvian GDP in late 2008 and early 2009, exacerbated by the global economic crisis and shortage of credit. Latvian economy fell 18% in the first three months of 2009, the biggest fall in the European Union.[43][44] According to Eurostat data, Latvian PPS GDP per capita stood at 56 per cent of the EU average in 2008.

The official language of Latvia is Latvian, which belongs to the Baltic language group of the Indo-European language family. Another notable language of Latvia is the nearly extinct Livonian language of the Baltic-Finnic subbranch of the Uralic language family, which enjoys protection by law; Latgalian — a dialect of Latvian — is also protected by Latvian law as a historical variation of the Latvian language.

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