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ECONOMIC COMPETITIVENESS

Riga has a dominant role in the economy and in the business of Latvia. According to the Lursoft data, 50 % of all active enterprises in Latvia are located in Riga, and 87 % of the total share capital of enterprises registered in Latvia are located in Riga. Out of 20 companies in Latvia with the highest turnover, 18 are located in Riga and 2 – Pieriga region. The newly produced value in the city of Riga is around 50 % of all the produced in Latvia. The dominance of the capital city of Latvia in the national economy is the most explicit in the European Union, not counting such small countries as Malta and Luxembourg.

Economically active companies per 1000 inhabitants113
GDP growth in real prices (2017)+4.6 %
Average wage in Riga1044 EUR
Share of economically active population (2016)71.2 %
Unemployment rate in Riga3.1 %
Level of education of economically active population of Riga (2016)Higher education – 43 %
Professional secondary education – 31 %
General secondary education – 20 %

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