1. Latvia has been a member state of the European Union (EU) since 2004. This means that the country adheres to the European System of Accounts 1995 (ESA95)—a classification system that ensures the comparability of national statistics in the EU.

To gain a better sense of how this system of accounts funct ions, visit the Bank of Latvia Web site and provide an overview of the ESA95 sectors in Latvia. What do you notice about this classification system? What are the particular sectors of the Latvian economy?