Seen from an economics point of view, 2009 was, for many countries, one of the hardest since the Second World War.

In the fourth quarter of 2009, the government in Riga registered a shocking dip in its GDP. This dip was, in real terms, 25% lower than at its highest point, which was registered at the end of 2007. The crisis was felt by practically every sector, and some transport companies have since gone to the wall.

However, 2010 was markedly different, and, as in many European countries, the situation began to improve. Companies began to see their finances moving into the black once again, and the GDP rose from quarter to quarter. This trend seems to be holding for 2011, and both sea and road transport levels are returning to their former glory. The analyst’s prognosis for 2011 lead us to expect a GDP plus of 2-4%. Next year, a GDP rise of 5% is expected.

Approximately 15% of imported goods originate in Germany, a fact that has much to do with the many construction projects which the government in Riga is involved in.

If you also have transports to or from Latvia, please do not hesitate to contact us and send us your inquiry today to: anfrage@isdb.eu.