Germany, renowned as Europe’s economic powerhouse and leading country politically within the EU, continues to be Sweden’s most important trading partner, with Swedish exports to Germany increasing at an annualised rate of 1.93% since 1995. When considering why Swedish companies choose to move to Germany, certain criteria present themselves, such as the country’s strong and largely stable economy; its central position in Europe; important standing within the EU; and large population of 83 million.
However, despite optimism as COVID-19 recedes, Europe is currently experiencing added uncertainty and tensions due to the war in Ukraine. Currently it is unclear how this will progress and how it will affect the business climate in Germany, but the overall positive results of this survey suggest that Swedish firms are well-placed to adapt to changing circumstances. The majority of respondents reported a profitable 2021 and expect industry turnover and their investment in Germany to increase in the coming year. In addition, the share of respondents who perceive the German business climate positively has increased year-over-year since this survey began in 2020. Even within areas which present challenges, such as the levels of digitalisation, there are also opportunities for Swedish firms renowned for their high levels of innovation, to create new business niches and disrupt existing markets.
Moreover, the positive associations of the Swedish brand continue to bring advantages to Swedish firms abroad, and Business Sweden believes that the valuable cooperation between the two countries will continue to grow in strength for many years to come.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey is a study authored by Team Sweden for Swedish companies to understand the opportunities and challenges that they face when doing business in Germany. The answers were collected between March and April 2022.
