SEK Export Credit Trends Survey: Export conditions remain favorable despite an uncertain macro environment

The results of SEK’s sixth Export Credit Trends Survey, with questions posed to more than 200 small to large exporters, have been presented today. The Export Credit Index (ECI), which comprises five questions concerning the companies’ financial situation, their need for and access to finance, and the pricing of finance, indicated increased optimism among Swedish exporters compared with the spring.

“The figures in the survey are interesting and show that the companies are still very strong, despite increased political and economic uncertainty in the macro environment,” says SEK’s Head of Lending, Jane Lundgren Ericsson.

The ECI score rose from 54 to 58 in this survey, following a downward trend in the most recent surveys. A higher percentage of large companies, in particular, is more optimistic, which is reflected by an increase in the ECI score for these companies from 54 to 59. The ECI score for SMEs (small and medium-sized enterprises) has remained at 55 for the

“While an increasing number of large companies are seeing a greater need for financing, they are also experiencing better access to capital-market-based financing, and claim that the pricing of financing arrangements has become more favorable,” says Jane Lundgren Ericsson.

The percentage of companies that claim the krona rate is favorable is also the highest since the surveys began in 2013. However, more exporters indicated they expect the krona to decline further over the next 12 months than in the spring survey.  Another survey question pertained to trade with the UK following the results of the Brexit referendum in June, when the decision was made to withdraw from the EU. A larger number of Swedish exporters — 72 percent, compared with 52 percent in the spring survey — believe their trade with the UK will remain unchanged over the next  12 months.

Read more here or on www.sek.se.

About SEK’s Export Credit Trends Survey

The purpose of the Export Credit Trends Survey is to increase understanding about Swedish exporters’ financing needs and options, and the implications of these factors for exports. In addition, the survey highlights other factors that may have an effect on companies’ export sales, such as sustainable business. The target group includes exporters with a minimum export volume of Skr 25 million and whose exports account for at least 50 percent of their sales. The survey is statistically assured. A total of 213 companies responded to the survey, 125 of which were large companies and 88 of which were SMEs. This corresponds to an overall response rate of 50 percent. The interviews were conducted by Markör Marknad & Kommunikation AB between October 17 and November 14.

About AB Svensk Exportkredit

AB Svensk Exportkredit provides finance for Swedish exports. We lend direct to Swedish exporters and help Swedish exporters win export business by offering financing to their customers. We have a strong international network and extensive experience of international financing. The officially supported export credits system means buyers of Swedish exports can see the total cost of their investment. Moreover, export credit financing can offer buyers extended credit periods. SEK is a long-term partner. We are wholly owned by the Swedish government and have a public mission to promote Swedish exports through financing. Our sustainability efforts play a crucial role in our business and our assessments ensure that our customers comply with all international standards and guidelines. In 2015, SEK lent a total of Skr 104.6 billion.

Contact

Edvard Unsgaard
Head of Communications, SEK
+46-706-218488

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