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AB Svensk Exportkredit: SEK's Export Credit Trends Survey: Few companies worried over possible Brexit

Today, the results of SEK's Export Credit Trends Survey with questions
to over 220 Swedish export companies is presented. Although the
beginning of 2016 was marked by continued global concerns of
terrorist attacks in Europe and the continuing refugee crisis, it has
not affected companies' investments to any notable extent.
Uncertainty over a possible Brexit should also not be overestimated,
if those companies surveyed are to be believed. 80 percent of these
companies currently trade with the UK, but only half of the companies
believe a British exit from the EU would affect their trade with the

"It is a relatively low percentage of companies that expect their
business to be affected by a Brexit. This could be interpreted both
positively and negatively. It is positive if a Brexit did not have
negative consequences in the form of significant weakening of the
pound or a deterioration in trading conditions. On the other hand, it
could be negative if companies are not prepared for the possibility
that conditions could deteriorate significantly and that trade would
actually be adversely affected," says SEK's Chief Economist Marie

The Export Credit Index (ECI) has continued to weaken slightly since
the last survey in the autumn. ECI is a composite index that measures
companies' financial position, financing needs and opportunities, has
fallen from 56 to 54, chiefly because of slightly lower financing
needs and slightly higher costs. Export orders have also been
slightly down. And the companies surveyed do not expect the value of
the Swedish krona to be favorable. The credit market climate is
beneficial, however, and the corporate sector is well positioned and
access to funding is healthy.

"There is good potential for the export industry in view of global
demand" says SEK's Chief Economist Marie Giertz.

Companies in our survey also indicate that they expect to continue to
hire. It is still abroad that most see hiring needs, but they also
expect to employ in Sweden.

The percentage of companies that routinely set sustainability
requirements for export sales has increased. The percentage has risen
from just under 45 percent to 55 percent for all companies. This
increase is mainly due to large companies making significant strides
in this area. Some 70 percent of large companies now say they
routinely set sustainability requirements in connection with export
contracts, compared with 50 percent when we launched our surveys in
spring 2013.

Read more in the attachment or on

Export Credit Trends Survey June 2016

Marie Giertz,
SEK's Chief Economist +46 (0)70-291 83 32

Edvard Unsgaard
Head of Communication, + 46-8-613 84 88

About SEK

SEK's mission is to ensure access to financial solutions for the
Swedish export industry on commercial and sustainable terms. SEK has
a complementary role in the market, which means we act as a
complement to bank and capital market financing for exporters wanting
a range of financing sources. SEK's vision is to strengthen the
competitiveness of Swedish exporters, which helps create employment
and sustainable growth in Sweden.

About the Export Credit Trends Survey

The purpose of the Export Credit Trends Survey is to increase
understanding about Swedish exporters' financing needs and
opportunities, 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 is all exporting companies with a minimum export volume of Skr
25 million and whose exports account for at least 50 percent of
sales. The survey is statistically assured. A total of 224 companies
responded to the survey, 126 of which were large companies and 98
were SME's. The overall response rate was 52 percent. The interviews
were conducted between April 4 to April 29, 2016. The respondents
were exporting companies' chief financial officers or equivalent. The
Export Credit Trends Survery was first published in June 2013.


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