The currency of the country is euro. The symbol used for this currency is €, and it is abbreviated as EUR. 8.3% of population in the country are unemployed. The total number of unemployed people in Latvia is 160,185. Each year, Latvia exports around $12.67 billion and imports roughly $15.56 billion. The Gini Index of the country is 35.2. Latvia has a Human Development Index (HDI) of 0.81.The Global Peace Index (GPI) for Latvia is 1.695. Latvia has a government debt of 39.3% of the country's Gross Domestic Product (GDP), as assessed in 2012. Latvia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are processed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronics.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Latvia is $48,362 billion. Each year, consumers spend around $15,930 million. The ratio of consumer spending to GDP in Latvia is 0%, and the ratio of consumer spending to the world consumer market is 0.0459. The corporate tax in Latvia is set at 15%. Personal income tax ranges from 24% to 24%, depending on your specific situation and income level. VAT in Latvia is 21%.