The Export Managers’ Index (EMI) which monitors views and reflects sentiment among Swedish exporters of goods and services, hit a new record level during the second quarter of 2021. EMI increased by 6 points to 70.9, up from 64.9 in the first quarter.
The rapid rise was primarily driven by the EMI current subindex which surged by 10.8 points to 75.0 in the second quarter, from 64.2 in the first quarter. The fact that the index is well above the 50-mark – the dividing line between optimism and pessimism – indicates that export companies have an optimistic view of export development.
A notable change in the survey results is that export companies considerably strengthened their view of current export development while the three-month forecast was somewhat dampened. EMI forecast, the subindex for the forward-looking issues, increased moderately by 1.1 points to 66.7 in the second quarter.
The subindex for current export sales increased by 8.5 points to 82.7 in the second quarter. Similarly, the current index for profitability of export sales rose by 9.5 points reaching 69.9. The largest increase by far was seen in the subindex for export order stocks which leaped by 14.5 points to 72.5, from 58.0 in the previous quarter.
Although several forward-looking subindices fell in the second quarter, most of them remain high. In all, we can conclude that the second quarter survey was unusually strong and revealed record-breaking results. All indications are that the optimistic sentiment among Swedish export companies will remain.
Download the report for a full overview of the results.
The next Export Managers’ Index will be published 26 August 2021.
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.
Export Managers' index Q2 2021
Publishing dates 2021
Below are the Swedish publishing dates of the EMI report. The English version is available on the website a few days after.
11 February: EMI Q1
12 May: EMI Q2
26 August: EMI Q3
11 November: EMI Q4