The economy of Estonia is rated advanced by the World Bank, i.e. with high quality of life and advanced infrastructure relative to less industrialized nations. Estonia is a member of the European Union, eurozone and OECD The economy is heavily influenced by developments in the Finnish and Swedish economies.
Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe. It is one of the three Baltic states, along with Estonia to the north and Lithuania to the south. It borders Russia to the east and Belarus to the southeast, and shares a maritime border with Sweden to the west. Latvia covers an area of 64,589 km2 (24,938 sq mi), with a population of 1.9 million. The country has a temperate seasonal climate. Its capital and largest city is Riga. Latvians belong to the ethnolinguistic group of the Balts and speak Latvian. Russians are the most prominent minority in the country, at almost a quarter of the population; 37.7% of the population speak Russian as their native tongue.
The economy of Latvia is an open economy in Europe and is part of the European Single Market. Latvia is a member of the World Trade Organization (WTO) since 1999, a member of the European Union since 2004, a member of the Eurozone since 2014 and a member of the OECD since 2016. Latvia is ranked the 14th in the world by the Ease of Doing Business Index prepared by the World Bank Group. According to the Human Development Report 2023/24 by the United Nations Development Programme, has a HDI score of a 0.879. 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 electronic devices.
Riga is the capital, the primate, and the largest city of Latvia, as well as one of the most populous cities in the Baltic States. Home to 605,273 inhabitants, the city accounts for a third of Latvia's total population. The population of Riga metropolitan area, which stretches beyond the city limits, is estimated at 860,142. The city lies on the Gulf of Riga at the mouth of the Daugava river where it meets the Baltic Sea. Riga's territory covers 307.17 km2 (118.60 sq mi) and lies 1–10 m (3–33 ft) above sea level on a flat and sandy plain.
The northern region of Europe has several definitions. A restrictive definition may describe northern Europe as being roughly north of the southern coast of the Baltic Sea, which is about 54°N, or may be based on other geographical factors such as climate and ecology.
The Baltic states or the Baltic countries is a geopolitical term encompassing Estonia, Latvia, and Lithuania. All three countries are members of NATO, the European Union, the Eurozone, Council of Europe, and the OECD. The three sovereign states on the eastern coast of the Baltic Sea are sometimes referred to as the "Baltic nations", less often and in historical circumstances also as the "Baltic republics", the "Baltic lands", or simply the Baltics.
The economy of Europe comprises about 748 million people in 50 countries.
The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the second largest economy in the world in nominal terms, after the United States, and the third largest at purchasing power parity (PPP), after China and the US. The European Union's GDP is estimated to be $19.35 trillion (nominal) in 2024 or $26.64 trillion (PPP), representing around one-sixth of the global economy. Germany has the biggest national GDP of all EU countries, followed by France and Italy. In 2022, the social welfare expenditure of the European Union (EU) as a whole was 19.5% of its GDP.
The European Geography Association (EGEA) is an association encouraging European students to engage with geography through hands-on learning experiences. EGEA provides exchange programs and excursions to facilitate connection between European students and others from across the globe.
The following outline is provided as an overview of and topical guide to Latvia:
The following outline is provided as an overview of and topical guide to Lithuania:
The economy of Lithuania is the largest economy among the three Baltic states. Lithuania is a member of the European Union and belongs to the group of very high human development countries and is a member of the WTO and OECD.
Estonia, officially the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, and to the east by Lake Peipus and Russia. The territory of Estonia consists of the mainland, the larger islands of Saaremaa and Hiiumaa, and over 2,300 other islands and islets on the east coast of the Baltic Sea, covering a total area of 45,335 square kilometres (17,504 sq mi). Tallinn, the capital city, and Tartu are the two largest urban areas. The Estonian language is the indigenous and official language. It is the first language of the majority of the population of 1.4 million.
