The fifth Export Barometer Survey highlighted their resilience amid global challenges.
According to the survey, 39 per cent of firms anticipate moderate economic growth in 2024 compared to 2023.
A significant majority (71 per cent) have embraced digital technologies to enhance export operations, with 68 per cent of adopters being SMEs even as exporters foresee moderate growth in orders/services for 2024 (43 per cent), driven by digital transformation trends.
SMEs, in particular, leverage digital tools for streamlined processes, from marketing to advanced technologies, bolstering global visibility.
Despite economic complexities, the export sector exhibited robust growth in 2023.
Rising utility prices and transport costs posed challenges, while service-oriented exporters struggled with skilled labour shortages.
However, identifying new business opportunities spurred workforce expansion even as political stability and consistent energy supply were deemed critical for operational efficiency.
ALCHEMPro News Desk (DR)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
