Financial Services, Good for Business, Latvia, Markets and Companies

The average company turnover from 2011 to 2013 was slightly more than EUR 18,000, increasing 5.5% to over EUR 19,000 in 2014.

In 2011, Latvian companies' average amount of losses was EUR 4, but the next three years the average profit/loss amount was zero.

Contrary to the expectations that Latvian companies' profitability should increase in 2015, the average amount of losses per company was EUR 38 last year.

Although not all companies have submitted their income statements for 2015 yet, it strongly appears that Latvian companies, on the average, were not profitable last year.

Lursoft data also indicate that the total number of employees at Latvian companies rose 11.9% from 2011 to 2014, amounting to 712,400 workers in 2014. The data for last year will be calculated after all companies submit their 2015 reports.