Business brief: record export levels

The value of Swedish exports increased by 9 per cent during the January-June period and totalled 452 billion crowns, measured in current prices. Imports rose by 4 per cent to total 353 billion crowns.

Exports of electrical items rose by 32 per cent, machinery by 10 per cent and passenger cars by 12 per cent while exports of lorries fell by 16 per cent. Exports of electronics and telecommunication products increased by 16 per cent.

The current account shows a surplus of 99 billion crowns for the six-month period.

Chief executives optimistic

Chief executives at the top 100 listed companies in Sweden are optimistic about the future. Sixty seven percent have already noted a recovery while 9 per cent forecast a recovery within the next quarter. In addition, 72 per cent of those polled believe that the economy will pick up within the next 12 months.

JC abandons German market

After 12 years, Swedish fashion chain JC has decided to close down its six stores in Germany. The chain has lost enormous sums of money as a result of its adventure in Germany; in the past four years alone the German stores have made a loss of 45 million crowns.

And, as a cost-cutting measure, JC has also decided to cut 23 jobs at HQ.

Holmen keen to focus on core business

Holmen CEO Magnus Hall told the press last week that the group is hoping to focus production on newsprint, magazine paper and paperboard. This means that Wargön, which produces coating printing paper, and the sawmill Iggesund Timber could be up for sale but Hall has no immediate plans to divest the two business areas.

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