Latvia has undergone major economic and social change since the early 1990s. Despite an exceptionally deep recession following the global financial crisis, impressive economic growth over the past two decades has narrowed income and productivity gaps relative to comparator countries in the OECD. But Latvians report low degrees of life satisfaction, very large numbers of Latvians have left the country, and growth has not been inclusive. A volatile economy and very large income disparities create pressing needs for more effective social and labour-market policies. The government’s reform programme rightly acknowledges inequality as a key challenge. However, without sustained policy efforts and adequate resources, there is a risk that productivity and income growth could remain below potential and social cohesion could be further weakened by high or rising inequality.
Tourism is considered to be one of Latvia’s main drivers of economic development, an important source of export revenue and a key contributor to GDP. In 2014, tourism directly contributed 3.8% of Latvia’s total GDP of EUR 24.1 billion. Tourism exports increased by 4.4% over 2013 to reach EUR 935.7 million in 2014, representing 6.7% of total exports.
This publication contains statistics on fisheries in OECD member countries (with the exception of Austria) and some non-member economies (Argentina, People's Republic of China, Colombia, Indonesia, Latvia, Lithuania, Peru, Russian Federation, South Africa, Chinese Taipei, and Thailand) from 2007 to 2014. Data provided concern fishing fleet capacity, employment in fisheries, fish landings, aquaculture production, recreational fisheries, government financial transfers, and imports and exports of fish.
GDP growth is projected to accelerate to 3.1% in 2016 and 3.5% in 2017, mainly driven by domestic demand. High wage growth will further sustain household consumption. Exports will pick up following the trade recovery in the European Union and support investment, but export performance will be weakened by increases in unit labour costs.
This country note provides data on the output of educational institutions; the impact of learning in Latvia; the financial and human resources invested in education; access, participation and progression in education; and the learning environment and organisation of schools.
This country note provides an overview of a set of activities to encourage entrepreneurship, orientated towards young people. It also presents key inclusive entrepreneurship data for Latvia.
This chapter describes the size and characteristics of emigrant populations in Latvia by origin countries with a special focus on educational attainment and labour force status. It offers a detailed picture of the size and composition of Latvian diaspora, as well as its evolution since 2000.
This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Latvia.
The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing.
The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention.
The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. “Fishing expeditions” are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard.
All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.
This page contains all information relating to the implementation of the OECD Anti-Bribery Convention in Latvia.
The Fisheries Law was amended to modify coastal fisheries management by defining all coastal quotas as a percentage of the Latvian total quota for the main regulated species in the Baltic Sea as well as allowing within the year for unused quota to be transferred from coastal to offshore fisheries.