In order to study the credit demand and forecast behaviour of economy the credit institutions throughout the globe carry out assessment of business sentiments, which, as a rule, serves as a sort of landmark: in which direction the economic situation in the country would really develop.
Latvia is no exception. Alas, in general, the business sentiments here for two consecutive years now remain negative. However, with minor adjustments, in optimistic direction.
Some recent improvement of business well-being could be attributed to the approach of the beginning of appropriation of the EU funds. In turn, despondency is added by uncertainty in external markets — sanctions – countersanctions, Brexit, dull economic development of the eurozone, as well as political disarray and lurches in the EU in general.
However, in an unequal array of emotionally contradictive Latvian business there are also insider capitalists - optimists: the general spirits in economy are revived by the representatives of the information technologies sector (IT).
To some extent this is due to the growing export potential of the IT sector. But, partially, due to the fact that our information technologies refer to the focus area of young businessmen. And youth takes life optimistically under any state of affairs in the economic environment.
Although, the IT guys are fully entitled to cheerful spirit and a great mood regardless of the number of years lived. It is enough to say that this sphere has crowded the snuffing out transit out of three largest export industries of Latvia. Together with the woodworking and food production the information technologies came down in three industries, which contribute the most to the general Latvian export.
And with perspectives the programmers are doing well. The global social – economic and political processes allow expecting that in the future the share of IT and of financial services in export would grow and in years to come the professional services might become a leading export industry of economy of the country.
The foregoing, by the way, is understood and accepted by the Latvian education institutions, where training of popular in the past economists and legal professionals started decreasing, but the number of fields of study of software developers is gradually growing.