The Latvian Economy
Daniel B, Aaron E, Julianne J, & Rabekah M
Where is Latvia?
- Europe
- Bordered by Russia, Lithuania, Estonia, and Belarus
- Citizens speak Latvian, Russia, and Lithuanian
- Gained independence from Soviet Union in 1991
Latvian Economy
- Economic downfall after gaining independence
- Second largest bank crashed in 2008
- Economy recovering, but unemploment still high
- 15 billion dollars in debt
- Open economy
- Transitioning to market economy for stability
Products & Services
- Chocolate
- Vodka
- Textiles
- Equipment
- Locomotives
- Tram cars
- Dairy products
- Lumber
- Metals
How Are These Products & Services Produced?
- Factories
- Wood products & textiles made by hand
Conclusion
- Latvia is a country with broad cultures
- Export to many countries
- Economy relies on it