SEK’s Export Credit Trends Survey June 2017
More companies recruiting in Sweden than abroad
Today, the Export Credit Trends Survey presents the findings from interviews conducted with more than 200 Swedish exporters. The findings of the survey show that compared with last autumn an increasing number of exporters have noted a rising order intake and the proportion of companies who intend to expand their workforce has increased substantially. For the first time since 2013, the percentage of companies who plan to recruit in Sweden is higher than the percentage planning to recruit abroad.
“Swedish exports are doing well and it will be interesting to follow the employment trend moving forward. The survey findings could indicate a greater propensity for companies to invest in Sweden and even move production home,” says Edvard Unsgaard, Editor of the Export Credit Trends Survey at SEK.
The Export Credit Index, which summarizes companies’ financial positions, their need for and access to financing, and the cost of financing, was 55 (58). The slightly lower outcome was mainly due to large companies being slightly more negative than previously.
“The somewhat lower outcome was based on larger companies being less positive than before and on these companies being less inclined than previously to consider that access and conditions had improved,” said Edvard Unsgaard.
|Over the coming year, will the number of employees in Sweden have:|
|Total||45% (31%)||47% (56%)||9% (13%)||69 (59)|
|Large companies||38% (27%)||50% (50%)||11% (16%)||63 (55)|
|SMEs||59% (40%)||41% (53%)||0% (7%)||79 (66)|
|Over the coming year, will the number of employees abroad have:|
|Total||40% (27%)||54% (65%)||6% (8%)||67 (60)|
|Large companies||41% (26%)||52% (65%)||8% (9%)||67 (58)|
|SMEs||37% (30%)||59% (65)||3% (5%)||67 (63)|
Methodology and data
This is the ninth Export Credit Trends Survey since it was started in 2013. The survey is statistically assured. A total of 210 companies responded to the survey, 110 of which were large companies and 100 of which were SMEs. The overall response rate was 49 percent.
The target group is exporters with a minimum export volume of Skr 25 million and whose exports account for at least 50 percent of their sales. Companies with a minimum of Skr 250 million in sales, and exports accounting for at least 50 percent of their sales, are classified as large companies. The companies are selected randomly by Statistics Sweden based on the VAT register. All companies with export sales of more than Skr 2 billion are also added to the selection. This ensures that the survey includes companies that are significant for Swedish exports. The interviews were conducted by Markör Marknad & Kommunikation AB between April 18 and May 16.
About AB Svensk Exportkredit (SEK)
AB Svensk Exportkredit finances Swedish exports and lends direct to Swedish exporters and helps Swedish exporters win export business by offering financing to their customers. Export credit financing can offer buyers extended credit periods. SEK is wholly owned by the Swedish government and has a public policy assignment to promote Swedish exports through financing. In 2016, SEK lent a total of Skr 54.8 billion.
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