The Great Depression reached Latvia in the middle of 1930. Exports fell and imports were strictly limited, to save foreign exchange reserves. State monopolies of sugar and bacon were created. To prevent banks from collapse, between July 31, 1931, and September 1, 1933, a law prohibited withdrawal of more than 5% of the total deposit per week. In 1932 the trade agreement with Soviet Union expired and industrial unemployment reached its peak in January 1932. The national income fell from 600 lats per capita in 1930 to 390 lats per capita in 1932.
the greaT dEpreSsiON reacheD latvia IN The mIDdlE of 1930. exporTs fell anD IMpoRTs were sTrICTlY liMited, to save forEIgn eXCHaNge resErves. STaTe mOnoPOliEs of SugaR AnD BacoN weRe crEaTeD. to prevent bankS fRoM COLlapse, bEtweEn july 31, 1931, and septEmBeR 1, 1933, a laW PrOhibitEd wiThdRawal Of more than 5% oF the ToTal depoSiT PEr week. in 1932 the tradE aGreemEnt WitH sovIeT uniON ExpiReD and inDuStRiaL UNEmPloYmeNt REacHed its PeaK in january 1932. thE NATioNal incOmE fElL fRom 600 lats peR capitA In 1930 To 390 lats pEr capiTa in 1932.