SME Export Outlook Q4 2016: USA as a key pillar for Swiss exports

Regardless of the outcome of the pending US presidential elections, Swiss small and medium-sized enterprises continue to believe in the USA as an export destination. 98% of the companies surveyed by Switzerland Global Enterprise (S-GE) believe that in five years they will export more or at least the same amount as today to the USA. Credit Suisse expects the economic trend in the USA to be robust. The forecast is for 1.5% growth in 2016 and an increase to 2.0% in 2017, with consumer spending as one of the main driving forces. According to the S-GE survey, Swiss SME export sentiment has brightened further and is now close to the 2-year high reached at the beginning of Q1 2015.

Credit Suisse senior economist Bettina Rutschi says: “The expected increase in employment and wage growth should increase consumer spending and thus drive the whole US economy. In addition, the posi-tive momentum in the labor market could lead to increased investment in housing and boost construc-tion activity. On the other hand, corporate investment is likely to remain fairly moderate, partially due to the adjustment process in the energy and mining sectors, but also because of the generally high level of uncertainty and continued US dollar strength. The latter nevertheless continues to work in favor of Swiss exporters.”
 
Alberto Silini, Head of Consulting at Switzerland Global Enterprise (S-GE), says: “With its large do-mestic market, solid growth and and hard currency, the USA will continue to be an important pillar for Swiss exporters. Despite language and cultural proximity, however, one should not be misled into underestimating the market. The regulatory environment is complex and competition is intensive, as shown by our survey. Entering the market must be carefully prepared. SMEs would be well-advised to make a targeted effort to build up their networks – which is the first step to success in markets.”
 
Bettina Rutschi, economist at Credit Suisse Economic Research, and Alberto Silini, Head of Consulting at Switzerland Global Enterprise, express their views on current export sentiment:

 
Further information on the SME export outlook for the forth quarter of 2016 can be found in the brochure.
 
The SME Export Outlook for the first quarter of 2017 will be published on 17 January 2017. 

 

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Credit Suisse senior economist Bettina Rutschi says: “The expected increase in employment and wage growth should increase consumer spending and thus drive the whole US economy. In addition, the posi-tive momentum in the labor market could lead to increased investment in housing and boost construc-tion activity. On the other hand, corporate investment is likely to remain fairly moderate, partially due to the adjustment process in the energy and mining sectors, but also because of the generally high level of uncertainty and continued US dollar strength. The latter nevertheless continues to work in favor of Swiss exporters.”
 
Alberto Silini, Head of Consulting at Switzerland Global Enterprise (S-GE), says: “With its large do-mestic market, solid growth and and hard currency, the USA will continue to be an important pillar for Swiss exporters. Despite language and cultural proximity, however, one should not be misled into underestimating the market. The regulatory environment is complex and competition is intensive, as shown by our survey. Entering the market must be carefully prepared. SMEs would be well-advised to make a targeted effort to build up their networks – which is the first step to success in markets.”
 
Bettina Rutschi, economist at Credit Suisse Economic Research, and Alberto Silini, Head of Consulting at Switzerland Global Enterprise, express their views on current export sentiment:

 
Further information on the SME export outlook for the forth quarter of 2016 can be found in the brochure.
 
The SME Export Outlook for the first quarter of 2017 will be published on 17 January 2017. 

 

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