- Area: 64.589 sq km
- Agricultural land: 18.860 sq km
- Forest area: 34.943 sq km
- Forest land: 54,1 %
- Population: 1,944.643 (July 2017 est.)
- GDP (purchasing power parity): $50.62 billion (2016 est.)
- GDP per capita (purchasing power parity): $25.700 (2016 est.)
- GDP composition per sector: agriculture 4.8 % I industry 24.4 % I services 70.8 % (2016 est.)
- Country name: Republic of Latvia
- Capital: Riga
- Administrative Divisions: 110 municipalities (novadi, singular-novads) and 9 cities
The Ministry of Economics supervises the energy sector and elaborates the energy policy. It aims to ensure energy security through the promotion of renewable energies, increased interconnections and energy efficiency.
The Energy Law of 1998, which was last amended in March 2016, sets out the sector's legal framework. In particular, it transposed a certain number of European Union Directives into Latvian law, following the country's entry into the EU in 2004.
Latvia is an EU member country since 1 May 2004. After examination of all relevant macroeconomic criteria the admission was approved.On 1 January 2014 Latvia joined the eurozone. This means that the EURO replaced Latvian lat and was introduced as new official currency. Latvia is a Schengen Area member since 21 December 2007.Latvia was holding the presidency of the Council of the EU for the first time between the period of 1 January and 30 June in 2015. Since elections in 24 May 2014, Latvia currently has 8 seats in the European Parliament.
Source: Latvian Presidency of the Council of the European Union and European Commision
Last update: 07 2023