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Financial News: Sweden Trade Balance Turns To Deficit In June

Sweden Trade Balance Turns To Deficit In June

07/27/2018 - 06:35:00 (RTTNews)

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

The trade balance came at a surplus of SEK 0.5 billion in June versus a surplus of SEK 5.4 billion in the corresponding month last year. In May, it was a shortfall of SEK 5.4 billion.

The value of exports climbed 8.0 percent year-over-year in June, while imports registered a double-digit growth of 14.0 percent.

Trade with countries outside the EU resulted in a surplus of SEK 15.3 billion, while EU trade showed a deficit of SEK 15.8 billion.

Another report from the statistical office showed retail sales decreased a seasonally adjusted 1.8 percent monthly in June, much faster than the 0.1 percent fall in May.

On a yearly basis, retail sales growth eased markedly to 0.2 percent in June from 3.1 percent in the previous month.

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