Sweden’s foreign trade is doing well, according to a report from the National Board of Trade (Kommerskollegium), published on 15 June. During the first quarter of 2017, exports of goods increased by 13%, while imports increased by 14% compared to the same quarter last year, according to a press release. Norway, the UK and the US continue to be the countries Sweden exports most services to. But only exports to the UK increased (by 13%). The value of exported goods increased to all continents except Africa. Exports increased to Australia by 30%, exports to China by 32% and Japan by 48%.
Within the service sector, exports increased by 2%, while service imports increased by 9%. The UK and the US are the countries from which Sweden imports most services. But the biggest increase in service imports came from the Nordics; Denmark 14%, Finland 20% and Norway 25%.
The report also discusses recent developments in world trade. The National Board of Trade writes that the growth rate for world trade has been stronger than the global GDP growth for the last four quarters. “Whether this represents a trend shift is still not clear,” writes the National Board of Trade. The report is available for download here.