(12.01.2022) Swiss exporters are entering the new year with confidence. In Q3 2021, the Export Forecast indicator published by consulting firm Euler Hermes stood at 0.95 points. It suggests double-digit growth for the next six months.
From a record high of 3.13 points in April 2021, the Export Forecast fell sharply over the year. However, experts anticipated this trajectory. Nevertheless, the indicator remains above the zero point which indicates the average growth trend of the Swiss export industry.
Between Q2 and Q3 2021, Swiss exports increased by 3.7% in nominal terms (+1.5% in real terms) to reach CHF 63.1 billion. They have thus attained a new quarterly record and are already above their pre-crisis level. Imports reached CHF 50.5 billion (+2.6% in nominal terms, +1.1% in real terms) and are only CHF 2.5 billion below their peak in Q3 2019.
The beginning of 2022 will remain a challenge for the Swiss export industry. Bottlenecks in supply chains are expected to persist. The same goes for rising energy prices and low demand from China. These factors are expected to slow exports until around next summer.
Euler Hermes estimates that international trade will grow by 8.3% in 2021. It expects an increase of 5.4% for the entire year of 2022.
Last modification 12.01.2022