Sweden posts SEK 11.9 billion trade surplus in May

Sweden reported a trade surplus of SEK 11.9 billion in May, which compares with a surplus of SEK 0.9 billion in the same month of 2023.

It has been the largest trade surplus since January.

The nation’s total exports surged 4% year-on-year to SEK 186.7 billion in May, data by Statistics Sweden showed. The latter reflected an increase in shipments to non-EU nations (10.3% YoY to SEK 90.1 billion). Shipments to the European Union, however, shrank 1.2% YoY to SEK 96.6 billion.

In the meantime, Sweden’s total imports dropped 2.1% year-on-year to SEK 174.8 billion in May. The latter reflected a decrease in purchases from the European Union, by 4.5% YoY to SEK 115.6 billion.

When taking into account the first five months of this year, Sweden’s trade surplus expanded to SEK 46.7 billion from SEK 26.4 billion in the respective period of 2023.

The USD/SEK currency pair settled 0.30% lower at 10.5873 on Friday. For the week, the exotic currency pair went up 0.89%.