Sweden Is Losing Market Shares In BRIC Countries

Sweden is in danger of losing out on some of the most promising future markets in the world, the so-called BRIC (Brazil, Russia, India and China) countries. A recent survey carried out by management consulting firm Arthur D. Little (ADL) of the 30 OECD member states puts Mother Svea in 28^th place when it comes to growth in exports to the BRIC players. Only Norway and Greece are doing worse.

"Sweden belongs to the losers when it comes to development in export levels to these booming markets," says ADL consultant Petter Kilefors. "We are being overtaken by the other industrialized countries in the race to win essential market shares."

According to the Confederation of Swedish Enterprise (SN) there are two main factors that contribute to the current state of affairs: Swedish companies' want and need to insure themselves against currency fluctuations and a tendency to focus on direct investments in target markets rather than exporting products to them. According to SN economist Fabian Wallen most international Swedish companies do not think they have lost any of their competitive edge. Rather it is the Scandinavian country's national economy that is losing out. And Petter Kilefors agrees: "Sweden's government as well as every Swedish CEO should have a long-term BRIC strategy handy."

"We have to unleash the growth potential of the Swedish economy, if we can't tap into the liberal free-trade policy," Fabian Wallen concludes, further emphasizing the need for policies that strengthen the Swedish business community.

Full story in Swedish

News category: Sweden