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The Latvian economy

(USD millions)
1999
2000
2001
2002
2003(e)
2004(f)
Economic growth (%)
2.8
6.8
7.9
6.1
6.0
6.3
Inflation (%)
2.4
2.6
2.5
1.8
2.9
3.4
Public-sector balance (%GDP)
-3.9
-3.2
-2.2
-2.7
-3.2
-2.9
Unemployment rate (%)
9.1
7.8
7.7
7.6
n/a
n/a
Exports
1,889
2,058
2,216
2,576
3,021
3,542
Imports
2,916
3,116
3,567
4,020
4,918
5,522
Trade balance
-1,027
-1,058
-1,351
-1,444
-1,897
-1,980
Current account balance
-654
-495
-732
-659
-866
-884
Current account balance (%GDP)
-9.8
-6.9
-9.6
-7.8
-9.0
-8.3
Foreign debt
3,821
4,714
5,570
6,334
6,950
7,240
Debt service (%Exports)
16.8
20.3
19.6
19.4
16.7
14.9
Currency reserves (import months)
2.7
2.5
3.1
3.0
2.7
2.5

(e) estimated (f) forecast

Source: Cofacerating

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