Sweden’s foreign trade surplus saw an increase in July compared to the previous year, driven by a resurgence in exports, according to a report from the German Press Agency (dpa) citing Statistics Sweden.
The trade surplus climbed to 6.5 billion Swedish kronor (SEK) (approximately $640 million) in July, up from SEK5.9 billion during the same month last year. In June, the surplus was recorded at SEK8.1 billion (about $796.08 million).
Both exports and imports experienced a nearly 6 percent recovery in July compared to the previous year, with exports rising by 5.9 percent and imports increasing by 5.7 percent. The non-EU trade balance registered a surplus of SEK22.7 billion, while the trade balance with the EU reflected a deficit of SEK16.2 billion.
On a seasonally adjusted basis, the trade surplus for July was SEK7.7 billion, slightly up from SEK7.5 billion in the prior month.
March 2023 vs. March 2024
In March 2024, Sweden experienced a significant decline of 54.7 percent in its trade balance surplus compared to the previous year. The trade surplus fell to SEK4.8 billion, down from SEK10.6 billion in March 2023, according to the latest figures from Statistics Sweden.
Total exports decreased by 10.7 percent year-on-year, reaching SEK176.2 billion in March. This decline was evident in shipments to both EU countries, which dropped by 10.3 percent to SEK97.8 billion, and non-EU nations, which saw an 11.3 percent decrease to SEK78.4 billion.
On the other hand, total imports also fell by 8.2 percent year-on-year, amounting to SEK171.4 billion in March. This reduction was influenced by lower purchases from EU countries, down 7.9 percent to SEK116.0 billion, and from non-EU countries, which decreased by 9 percent to SEK55.4 billion.
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