The years 2008 and 2009 were characterized by a slowdown in economic activity when the gross domestic product of the country decreased by 18%, when compared to the previous year. Value added in the City of Riga diminished by 17% during this period (compared to the previous measurement). Although there was a larger slowdown in economic activity in the construction, trade, hotel and restaurant sectors as compared to the city economy as a whole, the level of economic activity in the largest sectors in Riga – commercial services, rent and real estate transactions - remained the same in the reporting period as it was in the previous year. According to the evaluation done by “Data on Riga 2008 – 2009”, Riga's share of the gross domestic product of the country increased from 47% to 55%.

Sources: www.csb.lv, “Data on Riga 2008 – 2009” evaluation

This material has been prepared in cooperation with the City Development Department of the Riga City Council and www.investinriga.com