Trade barriers affect 93% of Swedish manufacturers, survey finds

Press Release October 6, 2026

Trade barriers affect 93% of Swedish manufacturers surveyed, with 58% reporting a moderate or significant impact on their operations. At the same time, three in four companies expect increased orders in 2027, while only 26% plan to increase investment. These are among the main findings in the latest Manufacturing Report from advisory firm Triathlon Group, based on a survey of Sweden’s 100 largest manufacturing companies.

A record 82% of respondents expect higher revenues in 2027, the largest share since the report began in 2015. However, 65% expect investment to remain unchanged, and investment expectations have weakened since the spring survey.

Several manufacturing companies with exposure to customers in the defence, construction and infrastructure sectors point to stronger demand in these end markets as a factor supporting their outlook for orders and revenues

“After several years of economic slowdown, our survey points to a broad improvement in the outlook for Swedish manufacturing. Expectations for orders and revenues are particularly strong, but companies remain cautious when it comes to investment and recruitment,” says Fredrik Wadsten, CEO of Triathlon Group.

Exports account for around 51% of sales among the companies studied, leaving the sector exposed to disruptions in international trade. Some 93% of respondents say trade barriers affect their operations, with 58% reporting a moderate or significant impact. Companies mainly point to effects on costs and margins, as well as sales and market access.

“Swedish manufacturers are entering 2027 with strong expectations for demand, while remaining cautious about increasing investment. Trade barriers and geopolitical uncertainty may help explain this caution, but the survey does not establish what is driving it”, says Fredrik Wadsten.

Key findings

• 75% expect increased order intake in 2027, compared with 59% for 2026.
• 82% expect higher revenues in 2027, the highest share recorded since 2015.
• 26% expect to increase investment in 2027; 65% expect no change.
• 40% expect to increase headcount in 2027; 55% expect no change.
• 93% report being affected by trade barriers; 58% report a moderate or significant impact.

About the Manufacturing Report

The Manufacturing Report covers Sweden’s 100 largest manufacturing companies. The autumn survey was conducted through in-depth interviews with senior executives in September 2026, with a response rate of 70%. Published twice a year by Triathlon Group, the report has been issued since 2015.

For comments or to access the report, please contact:
Fredrik Wadsten, CEO, Triathlon Group
+46 (0)70-318 21 20 | fredrik.wadsten@triathlon.se

Triathlon Group

Triathlon Group is a professional services firm and a leading actor in business performance improvement, supporting Nordic multinational clients to strengthen international competitiveness. Based on specific expertise, Triathlon delivers lasting improvements with its clients. Triathlon Group is an independent, partner-owned firm headquartered in Gothenburg, Sweden. www.triathlon.se