However, true to form, respondents showed themselves to be generally more more pessimistic regarding Latvia than Estonian and Lithuanian equivalents.
Asked to evaluate the current economic situation, just 15% of the 114 companies taking part regarded the situation in Latvia as 'good' (31% in Estonia, 53% in Lithuania) though a further 73% agreed the situation was 'satisfactory' and just 12% described it as 'bad'.
AHK chief executive Florian Schroder gave LSM a brief overview of the main findings.
But if the current situation was regarded as no more than okay, businesses did seem upbeat about future prospects. 65% of respondents said they expected their own business situations to improve in the coming year - significantly better than Estonia's 41% and Lithuania's 53%.
On predicted turnover, Latvia did even better with 71% of respondents saying they expected an increase, again better than both Estonia and Lithuania.
On average businesses expected wages to rise by 8% in the current year in Latvia, again ahead of Estonia (+4.6%) and Lithuania (+6.2%).
Presenting the results, AHK stressed the need not only for the Baltic states to cooperate more in order to make the most of their joint 8-million-strong market but also for Latvia to develop its workforce's skills in order to remain competitive.
Germany's own economic success is based on the same principle, Schroder said: "It's because we have such a cutting edge when it comes to the workforce... you should not forget about the real workforce."
The full survey results can be read HERE.
