Exporting SMEs expect stagnation
Published: Tuesday, Jan 30th 2024, 09:10
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The mood among export-oriented Swiss SMEs has deteriorated due to the tense international economic situation. Many companies are bracing themselves for stagnating exports.
This is the result of a survey of more than 200 small and medium-sized enterprises (SMEs) published on Tuesday by the export promotion organization Switzerland Global Enterprise (S-GE). The SME export sentiment calculated from this fell to 51.6 points. The last survey six months ago had resulted in a value of 66.7 points.
SME export sentiment values above 50 indicate expected export growth, while values below 50 indicate a decline in exports. The current level therefore indicates stagnation.
"With the exception of the brief slump at the start of the Covid pandemic, export sentiment is currently at its lowest level since January 2016," says Alberto Silini from S-GE. The ongoing global challenges are being exacerbated by the appreciation of the Swiss franc, he said.
Against this backdrop, the majority of SMEs are holding back on hiring new staff: only a fifth plan to recruit new employees in the coming months. Six months ago, one in three SMEs still expected to increase their workforce.
©Keystone/SDA
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