Sweden’s trade surplus shrinks in November

Sweden has reported a trade surplus of SEK 7.2 billion in November, which compares with a surplus of SEK 10.4 billion in the same month of 2023.

The nation’s total exports shrank 4.4% year-on-year to SEK 181.3 billion in November, data by Statistics Sweden showed. The latter reflected a 2.7% YoY drop in shipments to the European Union to SEK 102.2 billion. Shipments to non-EU nations fell 6.6% YoY to SEK 79.1 billion.

In the meantime, Sweden’s total imports decreased 2.9% YoY to SEK 174.1 billion in November. The latter reflected a drop in purchases from the European Union, by 2.9% YoY to SEK 119.8 billion.

When taking into account the first eleven months of this year, Sweden’s trade surplus expanded to SEK 61 billion from SEK 44.6 billion in the respective period of 2023.

The EUR/SEK currency pair settled 0.51% lower at 11.4463 on Friday. For the week, the exotic currency pair went down 0.30%.