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The EU Investment into Latvian SME's

International Journal of Applied Finance For Non-Financial Managers (ISSN: 1742-528X) Volume 2 Issue 2

Dr oec, prof Inna Stetsenko
Baltic Russian Institute
Riga, Latvia

Latvia is a small Baltic country with 2 340 000 inhabitants. However, Latvia's participation in globalization processes, i.e. the EU accession and taking part in many other international organizations (e.g. World Trade organization), provides an opportunity for Latvian entrepreneurs to deal with various investment projects.

According to statistical data, in 2004 Latvia's foreign trade turnover with the EU countries
accounted for almost 80%.

Table 1. Latvian exports' structure by commodity groups (2004 I-X)

 

Mln lats

Structure (%)

Year-on-year changes (%)

Total:

Wood and products of wood

Metalworking, machine building and transport equipment

Light industry goods

Chemical goods and articles of plastics

Agricultural and food products

Other goods

1368.6

490.3

294.8

187.7

102.6

118.5

174.7

100

35.8

21.5

13.7

7.5

8.7

12.8

16.9

25.2

17.4

17.5

19.0

-0.8

7.2

The most active countries-exporters were: the United Kingdom(12,9 % from total amount of country's export) Germany (12,3 %), Sweden (10,3 %), Lithuania (9,5 %) and Estonia (8,2 %). The sixth place was occupied by Russia where Latvia had sold goods for 137 million lats (6,5 %).

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