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© ermess dreamstime.com Business | November 28, 2014

Russian embargo? Not an issue.

67% of businesspeople in Latvia say that their business operations have not been affected by Russia’s trade embargo against the European Union.
22% of them say that they have felt some influence, while 8% have experienced serious problems. Another 1% of businesspeople have said that the embargo has had a slightly positive effect, the latest Citadele Index study indicates.

The data show that the Russian embargo has had the least effect on small companies. 33% of small companies report a negative influence, with 8% saying that they have had big problems and 25% saying that the influence has been minimal. Large companies have felt the embargo the least – 74% say that it has not affected them at all, 14% have experienced slight problems, 3% have found that there are major negative influences, 3% have felt major improvements, and 6% report slight improvements.

By sector, the influences of the embargo have been particularly felt in the retail industry, with 29% saying that they have felt a bit of an effect and 8% saying that the effect has been major. Service providers are less likely to have felt a negative effect from the embargo – 20% and 8% respectively.

For manufacturing companies the percentages were 19% for little influence and 7% for a lot of influence. Construction companies were least likely to be affected by the embargo – 16% and 4% respectively.

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November 14 2017 8:30 PM V8.8.9-2