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Latvia Business Guide


Geography


Location:
Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania


Geographic coordinates:
57 00 N, 25 00 E


Map references:
Europe


Area:
total:64,589 sq kmcountry comparison to the world: 124
land:62,249 sq km
water:2,340 sq km


Area - comparative:
slightly larger than West Virginia


Land boundaries:
total:1,382 km
border countries:Belarus 171 km, Estonia 343 km, Lithuania 576 km, Russia 292 km


Coastline:
498 km


Maritime claims:
territorial sea:12 nm
exclusive economic zone:200 nm
continental shelf:200 m depth or to the depth of exploitation


Climate:
maritime; wet, moderate winters


Terrain:
low plain


Elevation extremes:
lowest point:Baltic Sea 0 m
highest point:Gaizina Kalns 312 m


    Natural resources:
peat, limestone, dolomite, amber, hydropower, timber, arable land


Land use:
arable land:17.96%
permanent crops:0.11%
other:81.93% (2011)


Irrigated land:
8.3 sq km


Total renewable water resources:
35.45 cu km (2011)


Freshwater withdrawal (domestic/industrial/agricultural):
35.45 cu km (2011)

Natural hazards:
NA


Environment - current issues:
Latvia's environment has benefited from a shift to service industries after the country regained independence; the main environmental priorities are improvement of drinking water quality and sewage system, household, and hazardous waste management, as well as reduction of air pollution; in 2001, Latvia closed the EU accession negotiation chapter on environment committing to full enforcement of EU environmental directives by 2010


Environment - international agreements:
party to:Air Pollution, Air Pollution-Persistent Organic Pollutants, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified:none of the selected agreements


Geography - note:
most of the country is composed of fertile low-lying plains with some hills in the east



People and Society


Nationality:
noun: Latvian(s)
adjective:Latvian


Ethnic groups:
Latvian 61.1%, Russian 26.2%, Belarusian 3.5%, Ukrainian 2.3%, Polish 2.2%, Lithuanian 1.3%, other 3.4% (2013 est.)


Languages:
Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4% (2011 est.)


Religions:
Lutheran 19.6%, Orthodox 15.3%, other Christian 1%, other 0.4%, unspecified 63.7% (2006)


Population:
2,165,165 (July 2014 est.)country comparison to the world: 144


Age structure:
0-14 years:14.2% (male 156,851/female 150,074)
15-24 years:11% (male 121,435/female 116,602)
25-54 years:44.8% (male 481,336/female 487,991)
55-64 years:12.8% (male 122,544/female 155,114)
65 years and over:17.1% (male 121,668/female 251,550) (2014 est.)


Dependency ratios:
total dependency ratio:51 %
youth dependency ratio:22.9 %
elderly dependency ratio:28.1 %
potential support ratio:3.6 (2014 est.)


Median age:
total:41.4 years
male:38.4 years
female:44.3 years (2014 est.)


Population growth rate:
-0.62% (2014 est.)country comparison to the world: 225


Birth rate:
9.79 births/1,000 population (2014 est.)country comparison to the world: 198


Death rate:
13.6 deaths/1,000 population (2014 est.)country comparison to the world: 14


Net migration rate:
-2.37 migrant(s)/1,000 population (2014 est.)country comparison to the world: 172


Urbanization:
urban population:67.7% of total population (2011)
rate of urbanization:-0.38% annual rate of change (2010-15 est.)


Major urban areas - population:
RIGA (capital) 701,000 (2011)


Sex ratio:
at birth:1.05 male(s)/female
0-14 years:1.05 male(s)/female
15-24 years:1.04 male(s)/female
25-54 years:0.99 male(s)/female
55-64 years:0.86 male(s)/female
65 years and over:0.48 male(s)/female
total population:0.86 male(s)/female (2014 est.)


Mother's mean age at first birth:
26.4 (2011 est.)


Maternal mortality rate:
34 deaths/100,000 live births (2010)


Infant mortality rate:
total:7.91 deaths/1,000 live birthscountry comparison to the world: 156
male:9.6 deaths/1,000 live births
female:6.13 deaths/1,000 live births (2014 est.)


    Life expectancy at birth:
total population:73.44 yearscountry comparison to the world: 123
male:68.41 years
female:78.75 years (2014 est.)


Total fertility rate:
1.35 children born/woman (2014 est.)country comparison to the world: 211


Contraceptive prevalence rate:
67.8%


Health expenditures:
6.7% of GDP (2010)


Physicians density:
2.9 physicians/1,000 population (2010)


Hospital bed density:
5.3 beds/1,000 population (2010)


Drinking water source:
improved:
urban: 99.6% of population
rural: 95.8% of population
total: 98.4% of population
unimproved:
urban: 0.4% of population
rural: 4.2% of population
total: 1.6% of population (2012 est.)


Sanitation facility access:
improved:
urban: 82.1% of population
rural: 71.1% of population
total: 78.6% of population
unimproved:
urban: 17.9% of population
rural: 28.9% of population
total: 21.4% of population (2009 est.)


HIV/AIDS - adult prevalence rate:
0.7% (2009 est.)country comparison to the world: 58


HIV/AIDS - people living with HIV/AIDS:
8,600 (2009 est.)country comparison to the world: 110


HIV/AIDS - deaths:
fewer than 1,000 (2009 est.)country comparison to the world: 74


Major infectious diseases:


Obesity - adult prevalence rate:
24.9% (2008)country comparison to the world: 62


Education expenditures:
5% of GDP (2010)country comparison to the world: 77

Literacy:
definition:age 15 and over can read and write
total population:99.8%
male:99.8%
female:99.8% (2011 est.)


School life expectancy (primary to tertiary education):
total:16 years
male:15 years
female:16 years (2011)


Unemployment, youth ages 15-24:
total:28.4%country comparison to the world: 29
male:27.6%
female:29.3% (2012)


Government


Country name:
conventional long form: Republic of Latvia
conventional short form:Latvia
local long form:Latvijas Republika
local short form:Latvija
former:Latvian Soviet Socialist Republic


Government type:
parliamentary democracy


Capital:
name:Riga
geographic coordinates:56 57 N, 24 06 E
time difference:UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
daylight saving time:+1hr, begins last Sunday in March; ends last Sunday in October


Administrative divisions:
110 municipalities (novadi, singular - novads) and 9 cities


Independence:
4 May 1990 (declared); 6 September 1991 (recognized by the Soviet Union)


National holiday:
Independence Day, 18 November (1918); note - 18 November 1918 was the date Latvia declared independence from Soviet Russia and established its statehood; 4 May 1990 was the date it declared its independence from the Soviet Union


Constitution:
several previous (preindependence); note - at independence, parts of the 1922 constitution were reinforced and fully reinforced 6 July 1993; amended several times, last in 2009 (2009)


Legal system:
civil law system with traces of socialist legal traditions and practices


International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction


Suffrage:
18 years of age; universal


Executive branch:
chief of state:President Andris BERZINS (since 8 July 2011)
head of government:Prime Minister Laimdota STRAUJUMA (since 22 January 2014)
cabinet:Cabinet of Ministers nominated by the prime minister and appointed by Parliament
elections:president elected by Parliament for a four-year term (eligible for a second term); election last held on 2 June 2011 (next to be held in 2015); prime minister appointed by the president, confirmed by Parliament
election results:Andris BERZINS elected president; parliamentary vote - Andris BERZINS 53, Valdis ZATLERS 41


Legislative branch:
unicameral Parliament or Saeima (100 seats; members elected by proportional representation from party lists by popular vote to serve four-year terms)
elections:last held on 17 September 2011 (next to be held in October 2014)
election results:percent of vote by party - SC 28.4%, Reform 20.8%, Unity 18.8%, National Alliance 13.9%, ZZS 12.2%, other 5.9%; seats by party - SC 31, Unity 20, Reform 16, National Alliance 14, ZZS 13, unaffiliated 6


Judicial branch:
highest court(s):Supreme Court (consists of the Senate with 27 judges and Supreme Court of Chambers with 22 judges); Constitutional Court (consists of 7 judges)
judge selection and term of office:Supreme Court judges nominated by chief justice and confirmed by the Saeima; judges serve until age 70, but term can be extended 2 years; Constitutional Court judges - 3 nominated by Saeima members, 2 by Cabinet ministers, and 2 by plenum of Supreme Court; all judges confirmed by Saeima majority vote; Constitutional Court president and vice president serve in their positions for 3 years; all judges serve 10-year terms; mandatory retirement at age 70
subordinate courts:district (city) and regional courts


    Political parties and leaders:
Union of Greens and Farmers or ZZS [Raimonds VEJONIS]
Harmony Center or SC [Nils USAKOVS]
National Alliance 'All For Latvia!'-'For Fatherland and Freedom/LNNK' or NA [Gaidis BERZINS, Raivis DZINTARS]
Unity [Solvita ABOLTINA]
Reform Party or RP [Edmunds DEMITERS]


Political pressure groups and leaders:
Free Trade Union Confederation of Latvia [Peteris KRIGERS]


International organization participation:
Australia Group, BA, BIS, CBSS, CD, CE, EAPC, EBRD, EIB, EU, FAO, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC (NGOs), MIGA, NATO, NIB, NSG, OAS (observer), OIF (observer), OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO


Diplomatic representation in the US:
chief of mission:Ambassador Andris RAZANS (since 27 July 2012)
chancery:2306 Massachusetts Ave. NW, Washington, DC 20008
telephone:[1] (202) 328-2840
FAX:[1] (202) 328-2860


Diplomatic representation from the US:
chief of mission:Ambassador Mark A. PEKALA (since 10 July 2012)
embassy:1 Samnera Velsa St, Riga LV-1510
mailing address:Embassy of the United States of America, 1 Samnera Velsa St, Riga, LV-1510, Latvia
telephone:[371] 6710-7000
FAX:[371] 6710-7050


Flag description:
three horizontal bands of maroon (top), white (half-width), and maroon; the flag is one of the older banners in the world; a medieval chronicle mentions a red standard with a white stripe being used by Latvian tribes in about 1280


National symbol(s):
white wagtail (bird)


National anthem:
name:'Dievs, sveti Latviju!' (God Bless Latvia)

lyrics/music:Karlis BAUMANIS
note:adopted 1920, restored 1990; the song was first performed in 1873 while Latvia was a part of Russia; the anthem was banned during the Soviet occupation from 1940 to 1990


Economy


Economy - overview:
Latvia is a small, open economy with exports contributing nearly a third of GDP. Due to its geographical location, transit services are highly-developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronics industries. Corruption continues to be an impediment to attracting foreign direct investment and Latvia's low birth rate and decreasing population are major challenges to its long-term economic vitality. Latvia's economy experienced GDP growth of more than 10% per year during 2006-07, but entered a severe recession in 2008 as a result of an unsustainable current account deficit and large debt exposure amid the softening world economy. Triggered by the collapse of the second largest bank, GDP plunged 18% in 2009. The economy has not returned to pre-crisis levels despite strong growth, especially in the export sector in 2011-12. The IMF, EU, and other international donors provided substantial financial assistance to Latvia as part of an agreement to defend the currency's peg to the euro in exchange for the government's commitment to stringent austerity measures. The IMF/EU program successfully concluded in December 2011. The government of Prime Minister Valdis DOMBROVSKIS remains committed to fiscal prudence and reducing the fiscal deficit. The majority of companies, banks, and real estate have been privatized, although the state still holds sizable stakes in a few large enterprises, including 99.8% ownership of the Latvian national airline. Latvia officially joined the World Trade Organization in February 1999 and the EU in May 2004. Latvia intends to join the euro zone in 2014.


GDP (purchasing power parity):
$38.87 billion (2013 est.)
country comparison to the world: 109
$37.38 billion (2012 est.)
$35.4 billion (2011 est.)
note:data are in 2013 US dollars


GDP (official exchange rate):
$30.38 billion (2013 est.)


GDP - real growth rate:
4% (2013 est.)
country comparison to the world: 76
5.6% (2012 est.)
5.5% (2011 est.)


GDP - per capita (PPP):
$19,100 (2013 est.)
country comparison to the world: 74
$18,300 (2012 est.)
$17,100 (2011 est.)
note:data are in 2013 US dollars


Gross national saving:
23.2% of GDP (2013 est.)
country comparison to the world: 61
24.6% of GDP (2012 est.)
22.7% of GDP (2011 est.)


GDP - composition, by end use:
household consumption:62.4%
government consumption:15%
investment in fixed capital:22.5%
investment in inventories:2.8%
exports of goods and services:61.3%
imports of goods and services:-63.9%
(2013 est.)


GDP - composition, by sector of origin:
agriculture:4.9%
industry:25.7%
services:69.4% (2013 est.)


Agriculture - products:
grain, rapeseed, potatoes, vegetables; pork, poultry, milk, eggs; fish


Industries:
processed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronics


Industrial production growth rate:
4.2% (2013 est.)
country comparison to the world: 69

Labor force:
1.022 million (2013 est.)
country comparison to the world: 143


Labor force - by occupation:
agriculture:8.8%
industry:24%
services:67.2% (2010 est.)


Unemployment rate:
9.8% (2013 est.)
country comparison to the world: 105
11.4% (2012 est.)


Population below poverty line:
NA%


Household income or consumption by percentage share:
lowest 10%:2.7%
highest 10%:27.6% (2008)


Distribution of family income - Gini index:
35.2 (2010)
country comparison to the world: 90
32 (1999)


    Budget:
revenues:$10.9 billion
expenditures:$10.95 billion (2013 est.)


Taxes and other revenues:
35.9% of GDP (2013 est.)
country comparison to the world: 61

Budget surplus (+) or deficit (-):
-0.2% of GDP (2013 est.)
country comparison to the world: 47


Public debt:
39.2% of GDP (2013 est.)
country comparison to the world: 92
40.7% of GDP (2012 est.)
note:data cover general government debt, and includes debt instruments issued (or owned) by government entities, including sub-sectors of central government, state government, local government, and social security funds


Fiscal year:
calendar year


Inflation rate (consumer prices):
0.2% (2013 est.)
country comparison to the world: 12
2.3% (2012 est.)


Central bank discount rate:
3.5% (31 December 2011 est.)
country comparison to the world: 99
3.5% (31 December 2010 est.)


Commercial bank prime lending rate:
5% (31 December 2013 est.)
country comparison to the world: 141
5.52% (31 December 2012 est.)


Stock of narrow money:
$9.865 billion (31 December 2013 est.)
country comparison to the world: 78
$9.099 billion (31 December 2012 est.)


Stock of broad money:
$12.57 billion (31 December 2013 est.)
country comparison to the world: 98
$12.63 billion (31 December 2012 est.)


Stock of domestic credit:
$17.39 billion (31 December 2013 est.)
country comparison to the world: 85
$18.39 billion (31 December 2012 est.)


Market value of publicly traded shares:
$1.115 billion (31 December 2012 est.)


Current account balance:
-$613.9 million (2013 est.)
country comparison to the world: 107
-$473.4 million (2012 est.)


Exports:
$12.67 billion (2013 est.)
country comparison to the world: 88
$12.23 billion (2012 est.)


Exports - commodities:
food products, wood and wood products, metals, machinery and equipment, textiles


Exports - partners:
Russia 18.2%, Lithuania 14.9%, Estonia 12.1%, Germany 7.5%, Poland 5.6%, Sweden 4.8% (2012)


Imports:
$15.56 billion (2013 est.)
country comparison to the world: 87
$15.15 billion (2012 est.)


Imports - commodities:
machinery and equipment, consumer goods, chemicals, fuels, vehicles


Imports - partners:
Lithuania 19.1%, Germany 11.6%, Russia 9.2%, Poland 8.2%, Estonia 7.6%, Italy 4.6%, Finland 4.4% (2012)


Reserves of foreign exchange and gold:
$7.22 billion (31 December 2013 est.)
country comparison to the world: 82
$7.523 billion (31 December 2012 est.)


Debt - external:
$39.87 billion (31 December 2013 est.)
country comparison to the world: 66
$39.43 billion (31 December 2012 est.)


Stock of direct foreign investment - at home:
$15.49 billion (31 December 2013 est.)
country comparison to the world: 79
$14.14 billion (31 December 2012 est.)


Stock of direct foreign investment - abroad:
$2.212 billion (31 December 2013 est.)
country comparison to the world: 70
$1.992 billion (31 December 2012 est.)


Exchange rates:
lati (LVL) per US dollar -
0.5313 (2013 est.)
0.5469 (2012 est.)
0.5305 (2010 est.)
0.5056 (2009)
0.4701 (2008)
note:Latvia joined the EMU and adopted the euro as its currency on 1 January 2014


Energy


Electricity - production:
6.412 billion kWh (2010 est.)
country comparison to the world: 112


Electricity - consumption:
6.56 billion kWh (2010 est.)
country comparison to the world: 102


Electricity - exports:
2.764 billion kWh (2011 est.)
country comparison to the world: 37


Electricity - imports:
4.009 billion kWh (2011 est.)
country comparison to the world: 41


Electricity - installed generating capacity:
2.166 million kW (2010 est.)
country comparison to the world: 100


Electricity - from fossil fuels:
27.2% of total installed capacity (2010 est.)
country comparison to the world: 186


Electricity - from nuclear fuels:
0% of total installed capacity (2010 est.)
country comparison to the world: 124


Electricity - from hydroelectric plants:
70.9% of total installed capacity (2010 est.)
country comparison to the world: 22


Electricity - from other renewable sources:
1.9% of total installed capacity (2010 est.)
country comparison to the world: 73


Crude oil - production:
1,000 bbl/day (2012 est.)
country comparison to the world: 109


Crude oil - exports:
0 bbl/day (2010 est.)
country comparison to the world: 142


Crude oil - imports:
0 bbl/day (2010 est.)
country comparison to the world: 208


    Crude oil - proved reserves:
0 bbl (1 January 2013 est.)
country comparison to the world: 154


Refined petroleum products - production:
0 bbl/day (2010 est.)
country comparison to the world: 163


Refined petroleum products - consumption:
31,340 bbl/day (2011 est.)
country comparison to the world: 112


Refined petroleum products - exports:
6,146 bbl/day (2010 est.)
country comparison to the world: 89


Refined petroleum products - imports:
35,930 bbl/day (2010 est.)
country comparison to the world: 84


Natural gas - production:
0 cu m (2011 est.)
country comparison to the world: 153


Natural gas - consumption:
1.52 billion cu m (2010 est.)
country comparison to the world: 82


Natural gas - exports:
0 cu m (2011 est.)
country comparison to the world: 134


Natural gas - imports:
1.58 billion cu m (2011 est.)
country comparison to the world: 52


Natural gas - proved reserves:
0 cu m (1 January 2013 est.)
country comparison to the world: 158


Carbon dioxide emissions from consumption of energy:
8.475 million Mt (2011 est.)



Communications


Telephones - main lines in use:
501,000 (2012)
country comparison to the world: 97


Telephones - mobile cellular:
2.31 million (2012)
country comparison to the world: 139


Telephone system:
general assessment:recent efforts focused on bringing competition to the telecommunications sector; the number of fixed lines is decreasing as mobile-cellular telephone service expands
domestic:number of telecommunications operators has grown rapidly since the fixed-line market opened to competition in 2003; combined fixed-line and mobile-cellular subscribership roughly 150 per 100 persons
international:country code - 371; the Latvian network is now connected via fiber optic cable to Estonia, Finland, and Sweden (2008)



    Broadcast media:
several national and regional commercial TV stations are foreign-owned, 2 national TV stations are publicly owned; system supplemented by privately owned regional and local TV stations; cable and satellite multi-channel TV services with domestic and foreign broadcasts available; publicly owned broadcaster operates 4 radio networks with dozens of stations throughout the country; dozens of private broadcasters also operate radio stations (2007)


Internet country code:
.lv


Internet hosts:
359,604 (2012)
country comparison to the world: 58


Internet users:
1.504 million (2009)
country comparison to the world: 81



Transportation


Airports
42 (2013)
country comparison to the world: 101


Airports - with paved runways
total:18
over 3,047 m:1
2,438 to 3,047 m:3
1,524 to 2,437 m:4
914 to 1,523 m:3
under 914 m:7 (2013)


Airports - with unpaved runways
total:24
under 914 m:
24 (2013)


Heliports
1 (2013)


Pipelines
gas 928 km; refined products 415 km (2013)


Railways
total:2,239 kmcountry comparison to the world: 68
broad gauge:2,206 km 1.520-m gauge
narrow gauge:33 km 0.750-m gauge (2008)


    Roadways
total:72,440 kmcountry comparison to the world: 64
paved:14,707 km
unpaved:57,733 km (2013)


Waterways
300 km (navigable year round) (2010)
country comparison to the world: 93


Merchant marine
total:11country comparison to the world: 113
by type:cargo 3, chemical tanker 1, passenger/cargo 4, petroleum tanker 2, roll on/roll off 1
foreign-owned:3 (Estonia 3)
registered in other countries:79 (Antigua and Barbuda 16, Belize 9, Comoros 2, Dominica 2, Georgia 1, Liberia 5, Malta 8, Marshall Islands 19, Russia 2, Saint Vincent and the Grenadines 15) (2010)



Ports and terminals
major seaport(s):Riga, Ventspils


Military


Military branches
National Armed Forces (Nacionalo Brunoto Speku): Land Forces (Latvijas Sauszemes Speki), Navy (Latvijas Juras Speki; includes Coast Guard (Latvijas Kara Flotes)), Latvian Air Force (Latvijas Gaisa Speki), Latvian Home Guard (Latvijas Zemessardze) (2011)


Military service age and obligation
18 years of age for voluntary male and female military service; no conscription; under current law, every citizen is entitled to serve in the armed forces for life (2012)


Manpower available for military service
males age 16-49:546,090
females age 16-49:540,810 (2010 est.)


Manpower fit for military service
males age 16-49:401,691
females age 16-49:447,638 (2010 est.)


    Manpower reaching militarily significant age annually
male:10,482
female:9,858 (2010 est.)


Military expenditures
0.92% of GDP (2012)
country comparison to the world: 106
1.05% of GDP (2011)
0.92% of GDP (2010)


Transnational Issues


Disputes - international
Russia demands better Latvian treatment of ethnic Russians in Latvia; boundary demarcated with Latvia and Lithuania; the Latvian parliament has not ratified its 1998 maritime boundary treaty with Lithuania, primarily due to concerns over oil exploration rights; as a member state that forms part of the EU's external border, Latvia has implemented the strict Schengen border rules with Russia


Refugees and internally displaced persons
stateless persons:280,759 (2012); note - individuals who were Latvian citizens prior to the 1940 Soviet occupation and their descendants were recognized as Latvian citizens when the country's independence was restored in 1991; citizens of the former Soviet Union residing in Latvia who have neither Latvian nor other citizenship are considered non-citizens (officially there is no statelessness in Latvia) and are entitled to non-citizen passports; children born after Latvian independence to stateless parents are entitled to Latvian citizenship upon their parents' request; non-citizens cannot vote or hold certain government jobs and are exempt from military service but can travel visa-free in the EU under the Schengen accord like Latvian citizens; non-citizens can obtain naturalization if they have been permanent residents of Latvia for at least five years, pass tests in Latvian language and history, and know the words of the Latvian national anthem


    Illicit drugs
transshipment and destination point for cocaine, synthetic drugs, opiates, and cannabis from Southwest Asia, Western Europe, Latin America, and neighboring Balkan countries; despite improved legislation, vulnerable to money laundering due to nascent enforcement capabilities and comparatively weak regulation of offshore companies and the gaming industry; CIS organized crime (including counterfeiting, corruption, extortion, stolen cars, and prostitution) accounts for most laundered proceeds

Information provided by CIA - The World Fact Book



Doing Business in Latvia 2017


           
 

 
Latvia

  Ease of Doing Business Rank
Overall DTF
14
80.61
 
 
Starting a Business (rank)
22
 
 
Protecting Minority Investors (rank)
42
 
  DTF
94.15
 
  DTF
63.33
 
  Procedures - Men (number)
4.0
 
  Strength of minority investor protection index (0-10)
6.3
 
  Time - Men (number)
5.5
 
  Extent of conflict of interest regulation index (0-10)
5.7
 
  Cost - Men (days)
1.5
 
  Extent of disclosure index (0-10)
5.0
 
  Procedures - Women (days)
4.0
 
  Extent of director liability index (0-10)
4.0
 
  Time - Women (% of income per capita)
5.5
 
  Ease of shareholder suits index (0-10)
8.0
 
  Cost - Women (% of income per capita)
1.5
 
  Extent of shareholder governance index (0-10)
7.0
 
  Paid-in min. capital (% of income per capita)
0.0
 
  Extent of shareholder rights index (0-10)
10.0
 
 

 
  Extent of ownership and control index (0-10)
4.0
 
  Dealing with Construction Permits (rank)
23
 
  Extent of corporate transparency index (0-10)
7.0
 
  DTF
78.93
 
 

 
  Procedures (number)
12.0
 
  Paying Taxes (rank)
15
 
  Time (days)
147.0
 
  DTF
89.79
 
  Cost (% of warehouse value)
0.3
 
  Payments (number per year)
7.0
 
  Building Quality Control Index(0-15)
12.0
 
  Time (hours per year)
168.5
 
  Quality of building regulations index (0-2)
2.0
 
  Total tax rate (% of profit)
35.9
 
  Quality control before construction index (0-1)
1.0
 
  Profit tax (% of profit)
6.3
 
  Quality control during construction index (0-3)
2.0
 
  Labor tax and contributions (% of profit)
26.6
 
  Quality control after construction index (0-3)
3.0
 
  Other taxes (% of profit)
3.0
 
  Liability and insurance regimes index (0-2)
0.0
 
  Postfiling index (0-100)
98.1
 
  Professional certifications index (0-4)
4.0
 
 
 
 
   
 
 
  Trading Across Borders (rank)
25
 
  Getting Electricity (rank)
42
 
  DTF
95.26
 
  DTF
82.14
 
  Time to export: Border compliance (hours)
24
 
  Procedures (number)
4.0
 
  Cost to export: Border compliance (USD)
150
 
  Time (days)
107.0
 
  Time to export: Documentary compliance (hours)
2
 
  Cost (% of income per capita)
289.6
 
  Cost to export: Documentary compliance (hours) (USD)
35
 
  Reliability of supply and transparency of tariff index (0-8)
7.0
 
  Time to import: Border compliance (hours)
0
 
  Total duration and frequency of outages per customer a year (0-3)
3.0
 
  Cost to import: Border compliance (USD)
0
 
  Mechanisms for monitoring outages (0-1)
1.0
 
  Time to import: Documentary compliance (hours)
1
 
  Mechanisms for restoring service (0-1)
1.0
 
  Cost to import: Documentary compliance (USD)
0
 
  Regulatory monitoring (0-1)
1.0
 
   
 
 
  Financial deterrents aimed at limiting outages (0-1)
0.0
 
  Enforcing Contracts (rank)
23
 
  Communication of tariffs and tariff changes (0-1)
1.0
 
  DTF
71.66
 
  Price of electricity (US cents per kWh)
15.2
 
  Time (days)
469.0
 
   
 
 
  Cost (% of claim)
23.1
 
  Registering Property (rank)
23
 
  Quality of judicial processes index (0-18)
12.5
 
  DTF
81.87
 
   
 
 
  Procedures (number)
4.0
 
  Resolving Insolvency (rank)
44
 
  Time (days)
16.5
 
  DTF
63.95
 
  Cost (% of property value)
2.0
 
  Recovery rate (cents on the dollar)
49.1
 
  Quality of the land administration index (0-30)
22.0
 
  Time (years)
1.5
 
  Reliability of infrastructure index (0-8)
7.0
 
  Cost (% of estate)
10.0
 
  Transparency of information index (0-6)
4.5
 
  Outcome (0 as piecemeal sale and 1 as going concern)
0
 
  Geographic coverage index (0-8)
4.0
 
  Strength of insolvency framework index (0-16)
12.0
 
  Land dispute resolution index (0-8)
6.5
 
  Commencement of proceedings index (0-3)
2.5
 
  Equal access to property rights index (-2-0)
0.0
 
  Management of debtor's assets index (0-6)
5.0
 
 
 
 
  Reorganization proceedings index (0-3)
2.5
 
  Getting Credit (rank)
7
 
  Creditor participation index (0-4)
2.0
 
  DTF
85.00
 
   
 
 
  Strength of legal rights index (0-12)
9.0
 
   
 
 
  Depth of credit information index (0-8)
8.0
 
 
 
 
  Credit registry coverage (% of adults)
84.9
 
   
 
 
  Credit bureau coverage (% of adults)
63.2
 
 
 
 
 

 
   
 
 
 
 
 
 



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