Japan is the world’s third largest economy and Sweden’s third largest export market outside of Europe. Japan is a key market for Swedish companies with 40 per cent of companies reporting that at least 25 per cent of their total revenue for the Asia-Pacific (APAC) region is generated in Japan.

Although difficult, the tribulations of the past year have demonstrated the strength of Swedish business in Japan. In the face of obstacles such as supply chain failures, Swedish companies in Japan were resilient, enabling a considerably higher number of Swedish companies in Japan to earn a profit than shown in the global average.

Swedish companies’ expectations have improved markedly from the 2020 Business Climate survey; last year approximately 60 per cent of respondents expected their turnover to decrease in the coming year. Conversely, in the 2021 Business Climate Survey, nearly 80 per cent expect an increase in their turnover in the coming year.

Please download the report to fully overview the results with a detailed analysis. 


The Business Climate Survey is a study authored by Team Sweden in order outline the main opportunities and challenges facing Swedish companies in their respective markets abroad. The study presents the results of a survey conducted in Japan in the spring of 2021, distributed 9th of April. This year’s Business Climate Survey was sent out on the 9th of April 2021 to 131 companies. Of these companies 71 answered, resulting in a 54 per cent response rate.