Exporting SMEs expect an upturn in the second half of the year
Published: Wednesday, Jun 26th 2024, 09:20
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The outlook for the Swiss export industry has brightened. Half of Swiss SMEs expect exports to grow in the second half of the year. However, companies are still holding back and are focusing primarily on stable markets such as Europe and the USA.
This is the conclusion reached by the export promotion organization Switzerland Global Enterprise (S-GE) following a survey of more than 200 small and medium-sized enterprises (SMEs). The SME export sentiment surveyed in this way rose to 68.2 points. The last survey six months ago had resulted in a value of 51.6 points.
This puts the barometer well above the growth threshold of 50 points again. Whether the trend reversal has been achieved after a two-year phase of slowdown will also depend on how geopolitical tensions develop.
Key markets Europe and USA
Despite all the confidence, the appetite for risk remains low, according to the survey. 46 percent of companies do not want to conquer new markets, for example. Europe and the USA remain the most important export destinations for Swiss SMEs.
It is striking that the countries of Latin America, which were still counted among the emerging markets a year ago, have also moved somewhat out of focus. However, with the conclusion of the free trade agreement between EFTA and the Mercosur states, the importance of Latin America could suddenly increase again.
According to the report, the reasons for the low appetite for adventure lie in the current currency risks, high energy and commodity prices and the shortage of skilled workers. In addition, geopolitical challenges are becoming increasingly important: Switzerland's relationship with the EU, the Russia-Ukraine conflict, tensions between the USA and China and increasing global protectionism. According to the survey, tensions in the Middle East also concern almost one in five Swiss SMEs (19%).
Sustainability and artificial intelligence
Half of the companies surveyed were familiar with sustainability reporting or were planning to introduce it. A quarter have already set themselves a net zero target in line with the Paris Climate Agreement.
In contrast, companies still have a long way to go in the field of artificial intelligence (AI): only 39% of companies use AI in their international business. It is mainly used to create market analyses, identify market trends and optimize marketing strategies and AI-based customer service.
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