Latvia

The unemployment rate of 6.465% is relatively moderate, especially considering the negative GDP growth experienced in 2023. This suggests that the economic slowdown might be driven by factors other than mass layoffs, such as reduced investment or external trade shocks, rather than a severe domestic labor market collapse.

Despite economic contraction, Latvia demonstrates characteristics of a highly developed nation, achieving universal access to electricity. Furthermore, the infant mortality rate is exceptionally low, comparable to some of the world's most advanced healthcare systems.

Latvia's fertility rate is critically low at 1.36 children per woman, far below the replacement level of 2.1. Coupled with a declining population, this suggests severe long-term demographic challenges related to an aging workforce and shrinking consumer base.

Over half of Latvia's land area is covered by forests, indicating a strong commitment to environmental preservation and providing significant ecological benefits. This high percentage makes Latvia one of the most forested nations in Europe.