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Financial News: Sweden Trade Balance Turns To Deficit In May

Sweden Trade Balance Turns To Deficit In May

06/28/2018 - 07:44:00 (RTTNews)

(RTTNews) - Sweden's foreign trade balance turned to a deficit in May from a surplus in the previous year, figures from Statistics Sweden showed Thursday.

The trade balance came in at a deficit of SEK 2.6 billion in May versus a surplus of SEK 1.3 billion in the corresponding month last year. The shortfall narrowed from SEK 6.1 billion in April.

The value of exports climbed 8.0 percent year-over-year in May and imports registered a double-digit growth of 12.0 percent.

Trade with countries outside the EU resulted in a surplus of SEK 12.0 billion, while EU trade showed a deficit of SEK 14.6 billion.

Another report from the statistical office showed that annual retail sales growth slowed to 3.1 percent in May from 3.3 percent in April. The growth was forecast to ease to 2.8 percent.

On a monthly basis, retail sales went up 0.2 percent in May versus the expected rise of 0.4 percent.

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