Sweden registers trade deficit in October following reduced shipments to EU

Sweden registered a trade deficit during the month of October, following reduced shipments to the European Union, while those to non-EU states rose during the same period.

In October 2016, Swedish exports of goods amounted to SEK102.9 billion, while imports of goods amounted to SEK105.6 billion. As a result, the net trade balance was SEK-2.7 billion, data released by Statistics Sweden showed Monday.

Foreign trade in goods resulted in a net trade deficit of SEK2.7 billion in October 2016 according to preliminary calculations. In October 2015, there was a net trade deficit of SEK3.1 billion. The value of exports in October 2016 amounted to SEK102.9 billion, while imports were valued at SEK105.6 billion. Compared with October 2015, both exports and imports decreased by 1 percent in value.

In addition, trade with countries outside the EU resulted in a surplus of SEK12.4 billion, while the EU trade resulted in a deficit of SEK15.1 billion. The number of weekdays in October was one less than in October 2015, causing downside pressure on trade balance, data showed.

Seasonally adjusted, the net trade deficit amounted to SEK0.4 billion in October 2016, compared with a deficit of SEK0.5 billion in September 2016. The corresponding figure for August 2016 was a deficit of SEK0.6 billion.

Meanwhile, during the period of January–October, the value of exports has decreased by 1 percent compared with the corresponding period one year ago, while the value of imports increased by 1 percent.