Tech Industry Faces Headwinds in First Semester
Published: Tuesday, Aug 29th 2023, 09:41
Aktualisiert am: Freitag, 13. Oktober 2023, 14:12
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The Swiss tech industry has seen a downturn in the first half of 2023, with orders dropping by 10% compared to the previous year. Export figures also decreased by 1.1%. Despite this, revenues remained relatively stable, with a 0.7% increase over the period. However, the second quarter saw a 3.4% decrease in revenue. Large companies were more affected than SMEs. The appreciation of the Swiss Franc and competition from abroad, which is subsidised in some industries, are making the outlook for the second half of the year difficult. Swissmem has called for the preservation of the Bilateral Agreements with the EU and the establishment of new free trade agreements with India, Vietnam, Thailand and Mercosur in order to improve the conditions for the tech industry.nnnnnnnnnnnn
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