Branschrapport:
MANUFACTURING – INBRIEF ANALYSIS – SWEDEN, NORWAY, DENMARK

Branschrapport: MANUFACTURING – INBRIEF ANALYSIS – SWEDEN, NORWAY, DENMARK

DENMARK: The Danish manufacturing sector is one of the most important sectors for SITS providers, accounting for almost 25% of IT spending. Danish GDP is projected to grow by almost 2% in 2018 and 2019, supported by accelerating private consumption. While the rising labor force participation rate will partly help to meet the growing demand for labor, wages and prices are expected to rise as labor shortages increase. Due to these factors, both business investments and private consumption are accelerating GDP growth, a positive sign for domestic manufacturers.

NORWAY: The Norwegian economy is faring well at the moment. GDP is expected to rise 2.1 % during 2019 (up from 1.8% in 2018) and further strengthen to 2.6% in 2020. Growth in both household consumption and government and business investments means a positive climate for Norwegian manufacturing companies in the coming years. The low value of the Norwegian krone is further helping exporting companies. This is important for Norwegian SITS vendors as manufacturing is the biggest single market in Norway for both software and IT services expenditure.

SWEDEN: Manufacturing is an extremely important industry in Sweden. It is the second-largest sector after services in terms of contribution to the GDP, and is the largest by far in terms of software and IT services (SITS) expenditure. The Swedish export was SEK 2000 billion in 2017 according to SCB (Statistics Sweden). Of this 70% was goods and 30% services. Hence the manufacturing industry’s competitiveness is very important for the Swedish society. The bulk of Sweden’s manufacturing industry is engaged in investment of goods (machines, trucks, ore, pulp etc.), which have a positive forecast for the coming year.

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