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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 enterprises (2015)71 465
Newly established enterprises (2016)6 305
Main kind of activity of economically active enterprises in Riga (2015)Services (45 %)
Trade (21 %)
Construction (7 %)
Manufacturing (6 %)
Health protection (3 %)
Education (2 %)
Financial and insurance activities (2 %)
Other (15 %)
Share of economically active population (2016)71.2 %
Unemployment rate (2016)4.8 %
Level of education of economically active population of Riga (2016)Higher education – 43 %
Professional secondary education – 31 %
General secondary education – 20 %
The average monthly gross wages and salaries (2016)949 EUR
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