export economy
Despite the economic slowdown, SMEs remain confident
The mood among small and medium-sized Swiss companies (SMEs) remains optimistic despite the weakening economy. For the coming six months, more SMEs are still expecting further export growth than a slump in exports.
The majority of Swiss companies that also export their goods abroad are optimistic about the current first half of 2023. (icon picture)
This is the conclusion of the SME export prospects published on Thursday by the export promotion Switzerland Global Enterprise (S-GE) and the major bank Credit Suisse (CS). Specifically, the export sentiment surveyed by S-GE is 60.5 points and thus still well above the growth threshold of 50. In the summer of 2022, however, this value was still 66.6 points.
The export barometer surveyed by CS, which shows foreign demand for Swiss products, is only slightly above the growth threshold at 0.07 points. Last summer, this value was still 1.49 points.
According to the report, the mood in global industry has deteriorated significantly in recent months. It is therefore all the more astonishing how “cautiously optimistic” the Swiss SME landscape is looking to the future.
Specifically, 44 percent of the companies surveyed still expect an increase in exports for the coming six months, 24 percent expect a decrease and 32 percent expect stagnation.
For the current year as a whole, 53 percent of the companies surveyed by S-GE even expect a clear majority of export growth. A further 29 percent see stagnation and only 18 percent expect a decline in exports.
In contrast to the assessment of the economic situation, the challenges have changed, Credit Suisse continues. A year ago it was the corona pandemic that caused most SMEs to worry, but in the current survey only 7 percent of companies said that the pandemic was a major challenge.
The shoe is now rather pinching on issues such as energy and commodity prices. These are the main concern for 73 percent of SMEs, followed by currency risks (61%) and the shortage of skilled workers (43%).
The latter has been a problem for many years. In the past, however, only individual sectors had to struggle with this, but the lack of personnel has now become a challenge across the board in recent months, it is said.