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Financial News: Sweden Trade Deficit Narrows In August

Sweden Trade Deficit Narrows In August

09/27/2017 - 03:53:00 (RTTNews)

(RTTNews) - Sweden's foreign trade gap narrowed in August from a year ago, as exports grew faster than imports, figures from Statistics Sweden showed Wednesday.

The trade deficit declined notably to SEK 5.4 billion in August from SEK 10.1 billion in the corresponding month last year. However, it was well above the shortfall of SEK 1.9 billion in July.

The value of exports surged 13.0 percent year-over-year in August and imports rose by 7.0 percent.

Trade with countries outside the EU resulted in a surplus of SEK 7.3 billion, while EU trade showed a deficit of SEK 12.7 billion.

On a seasonally adjusted basis, the net trade deficit totaled SEK 0.5 billion in August compared with a deficit of SEK 0.6 billion in July.

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