Manufacturers in Sweden whose goods are destined for export are taking considerable measures to counter the negative effects of skyrocketing energy prices. This is revealed in a new survey conducted by Business Sweden and market research firm Origo Group.
Two-thirds of manufacturers – who account for 92 per cent of Sweden's export of goods – are moderately or severely affected by the soaring energy prices for their operations, with profitability taking the biggest hit. A quarter of the respondents have opted to revise their production plans and almost half are putting investments on hold.
The most severe consequences are being felt by companies in the food, wood and paper, chemicals and pharmaceuticals and automotive sectors, the results show. The survey makes a comparison between how companies have been affected by rising energy prices up to now and how they will be affected from today until the end of February 2023.
A total of some 500 companies participated in the survey, which was carried out during the period 31 October – 23 November 2022 via telephone interviews with chief financial officers or company management in equivalent positions.