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Financial News: Sweden Current Account Surplus Shrinks In Q1

Sweden Current Account Surplus Shrinks In Q1

06/04/2018 - 03:49:00 (RTTNews)

(RTTNews) - Sweden's current account surplus decreased in the March quarter from a year ago, mainly due to a lower surplus in trade in services, figures from Statistics Sweden showed Monday.

The current account surplus shrank to SEK 22.0 billion in the first quarter from SEK 34.0 billion in the corresponding period last year.

The surplus also declined from SEK 37.0 billion in the December quarter.

The goods trade surplus fell to SEK 24.8 billion in the March quarter from SEK 27.2 billion last year. The surplus on services dropped notably to SEK 3.5 billion from SEK 9.3 billion.

A reduced surplus in primary income and an increased deficit in secondary income also contributed to the weakened current account.

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