Sweden Trade Balance Swings To Surplus

(RTTNews) - Sweden's foreign trade balance turned to a surplus in December from a deficit in the previous year as imports fell faster than exports, figures from Statistics Sweden showed on Friday.

The trade balance showed a surplus of SEK 3.8 billion in December versus a deficit of SEK 2.3 billion in the corresponding month last year.

In November, the trade balance posted a surplus of SEK 12.1 billion.

On an annual basis, exports grew by 6.0 percent over the year, while imports dropped by 10.0 percent.

The non-EU trade balance showed a surplus of SEK 23.8 billion in December, while the trade balance with the EU revealed a deficit of SEK 20.0 billion.

On a seasonally adjusted basis, the trade surplus was SEK 11.1 billion in December, the same as in the previous month.

During the year 2023, the total trade surplus was SEK 50.8 billion, versus a deficit of SEK 44.9 billion in 2022. Exports grew 5.0 percent, while imports remained flat.