Analytics, Baltic States – CIS, Business, Markets and Companies

In September, 41% of respondents evaluated the business environment as good or very good. This is 10% less than in March when 51% of business representatives were positive or very positive about the business environment for the next six months.

15% of respondents said that the business environment will be unfavorable or very unfavorable during the next six months, whereas 44% of respondents were neutral.

The surveyed executives were also asked to assess the financial situation of their companies. Most were convinced that the financial state of their companies will remain stable, as Ints Krasts, member of the SEB bank's board, commented the results of the survey.

More than half or 56% of the surveyed finance directors noted that they were mostly concerned about the possible decline in demand. Lithuania and Estonian executives were worried about shortage of qualified workforce.

However, finance directors in all three Baltic countries were less concerned about the cost of labor.

More than half of the Baltic States' large companies believe that the sanctions against Russia and Russia's counter-sanctions will leave a negative impact on their businesses, according to a survey conducted by SEB banka.

The survey results show that 44% of the Baltic finance directors are certain that the sanctions will leave a negative impact on their businesses, while 12% of respondents said that the escalation of the conflict has left severe consequences on their businesses.

Business owners from all three Baltic States share similar opinions on this matter – 55% of Lithuanian, 50% of Latvian, and 60% of Estonian businessmen evaluated the confrontation between Russia and the West as "negative".

The survey was conducted in September. More than 160 SEB bank clients, the largest companies in the Baltic States with annual turnover of more than EUR 20 million, participated in the survey.