Business Sweden’s Export Managers’ Index (EMI) which monitors views and reflects sentiment among Swedish exporters of goods and services, plunged in the second quarter following a record upswing in the two previous quarters.
EMI fell by 10.3 points to 60.6 in the second quarter from the record high of 70.9 in the first quarter of this year. The outlook for exports both today and in the next three months has dampened considerably. The EMI current subindex fell by 13.3 points to 64.6 in the second quarter while EMI forecast, the subindex for the forward-looking issues, dropped by 7.3 points to 56.6.
In contrast to the record results in the previous survey, several subindices have notably fallen back. The war in Ukraine and shutdowns in China as the spread of omicron continues are factors that have clearly impacted the views of export companies, particularly in a regional perspective.
The index for expected export demand from Central and Eastern Europe went into free fall and dropped by as much as 28.4 points to 31.2 in the second quarter. The index for Western Europe fell back, too, but more moderately and remains at a high level. The index for expected export demand from Asia dropped by 9 points to 50.5.
Despite a tumbling market, most subindices are still above the 50-mark which indicates that an optimistic sentiment remains among Swedish export companies.
Download the report for a full overview of the survey results.
The next Export Managers’ Index will be published 25 August 2022.
Export manager's index
About The analysis
Business Sweden’s Export Managers’ Index is a quarterly index showing the current mood of Swedish exporting companies as well as their near-future outlook for exports to the regions of the world.
The index is a measure of companies’ perceived export demand in the market, where a level above 50 indicates market expansion and a level below 50 indicates market contraction. The index can be split into subindices for current and forecast export demand, and contains information on export sales, expected regional demand and perceived order stock.
The survey is conducted by Statistics Sweden (SCB). Business Sweden’s Export Managers’ Index is a leading indicator of the development of Sweden’s economy.
Publishing dates 2022
Below are the Swedish publishing dates of the EMI report. The English version is available on the website a few days after.
10 February: EMI Q1
12 May: EMI Q2
25 August: EMI Q3
10 November: EMI Q4