Latvia seems to be performing pretty well, albeit less so than the other two Baltic economies. Since 2000, Estonia's and Lithuania's GDP per capita growth has been larger than Russia's, for all the lack of oil. Latvia and Russia used to have the same GDP per capita in 2000, now Russia's is slightly larger. Similarly oil-reliant countries like Azerbaijan or Kazakhstan grew at an even more impressive rate. However, in terms of GNI per capita, Russia is still
behind all three by a considerable margin.
As for Latvian demographic problems, I wouldn't call them exceptionally drastic. Neighbouring core Russian and Finno-Ugric regions face an even more dramatic decline:
For comparison, Dagestan's parameters are 134% for 2000 and 160% for 2010. Granted, unlike Latvians who migrate to EU, Russians mainly migrate to Moscow, but the regions are being depleted of population at an alarming rate. While Russia grew by about 300 000 people between 2006 and 2012, this growth comes overwhelmingly from the Caucasus. Dagestan alone grew by 290 000 people in the same period, Chechnya by 140 000, Karachaevo-Cherkessia by 50 000, etc.
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