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Financial News: Sweden Trade Surplus Declines In December

Sweden Trade Surplus Declines In December

01/26/2017 - 05:19:00 (RTTNews)

(RTTNews) - Sweden's foreign trade surplus decreased in December from a year ago, as imports grew faster than exports, figures from Statistics Norway showed Thursday.

The trade surplus shrank to SEK 1.0 billion December from SEK 4.0 billion in the corresponding month last year. Economists had expected the surplus to fall to SEK 3.0 billion.

In November, the trade balance showed a deficit of SEK 1.2 billion.

The value of exports climbed 11.0 percent year-over-year in December and imports surged by 15.0 percent.

Trade with countries outside the EU resulted in a surplus of SEK 15.0 billion, while EU trade ended in a deficit of SEK 14.0 billion.

On a seasonally adjusted basis, the net trade surplus came in at SEK 0.2 billion in December versus SEK 0.5 billion in November.

The trade balance for the whole year 2016 came in at a shortfall of SEK 6.8 billion against a surplus of SEK 13.8 billion in 2015. Both exports and imports rose by 1.0 percent and 3.0 percent, respectively.

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