Exports and imports of goods, quarter 1 2024/January-March 2024, in current prices and in constant prices
Weak first quarter for foreign trade in goods
Statistical news from Statistics Sweden 2024-05-28 8.00
In the first quarter 2024, exports of goods decreased by 5 percent in value and by 4 percent in volume compared with the same period a year ago. At the same time, imports of goods fell by 5 percent in value and by 3 percent in volume.
– In the first quarter 2024, exports to Germany decreased by 10 percent which amounted to about SEK 6 billion. Minerals accounted for the largest decrease, says Maria Adolfsson, statistician at Statistics Sweden.
Summary
- In the first quarter of 2024, Swedish exports of goods decreased by 5 percent in value (in current prices), and in terms of volume (in constant prices) they fell by 4 percent, compared with the same period a year ago. Imports of goods decreased by 5 percent in value, and in terms of volume they fell by 3 percent.
- In the first quarter 2024, the value of Swedish exports of goods amounted to SEK 517 billion, and the value of imports of goods amounted to SEK 488 billion.
- Compared with the previous quarter, Swedish exports of goods decreased by 5 percent in value and by 3 percent in volume. Imports of goods fell by 7 percent in value and by 5 percent in volume.
- Net trade shows a surplus of SEK 29 billion in the first quarter 2024. In the same period in 2023, there was a net trade surplus of SEK 28 billion.
Detailed information about the first quarter 2024 (in current prices and in constant prices)
Exports of minerals decreased by 19 percent in value and by 15 percent in volume
Exports of machinery and transport equipment increased by 1 percent in value, while they decreased by 1 percent in volume. Exports of wood and paper products fell by 9 percent in value, while they rose by 3 percent in volume. Exports of minerals fell by 19 percent in value and by 15 percent in volume. Within the product area iron ore and concentrates decreased by 65 percent in value and by 66 percent in volume. Exports of mineral fuels and electric current decreased by 11 percent in value and by 5 percent in volume. Within the other products area, exports of food/beverages/tobacco decreased by 4 percent in value and by 6 percent in volume.
| Exports | ||||||
|---|---|---|---|---|---|---|
| Value (current prices) | Value (current prices) |
Volume (value in constant prices) |
||||
| Share in % |
Change in % |
Change in % |
||||
| Commodity group according to SITC | January-March 2024 |
January-March 2023 |
January-March 2024 |
Q1 2024/Q1 2023 |
Q1 2024/Q1 2023 |
|
| Total | 516 930 | 541 522 | 100.0 | ‑5 | ‑4 | |
| Wood and paper products | 45 804 | 50 412 | 8.9 | ‑9 | 3 | |
| Wood | 10 344 | 11 763 | 2.0 | ‑12 | ‑12 | |
| Pulp and waste paper | 7 579 | 9 093 | 1.5 | ‑17 | ‑2 | |
| Paper, paper products | 25 856 | 27 447 | 5.0 | ‑6 | 12 | |
| Minerals | 47 731 | 58 791 | 9.2 | ‑19 | ‑15 | |
| Iron ore and concentrates | 3 203 | 9 234 | 0.6 | ‑65 | ‑66 | |
| Iron and steel | 20 504 | 25 500 | 4.0 | ‑20 | ‑13 | |
| Non-ferrous metals | 14 021 | 12 603 | 2.7 | 11 | 19 | |
| Chemicals, rubber products | 78 796 | 82 382 | 15.2 | ‑4 | ‑2 | |
| Organic/inorganic chemicals | 7 219 | 9 664 | 1.4 | ‑25 | ‑14 | |
| Pharmaceutical products | 39 515 | 39 548 | 7.6 | 0 | ‑1 | |
| Plastics | 12 137 | 12 330 | 2.3 | ‑2 | 6 | |
| Mineral fuels, electric current | 40 475 | 45 646 | 7.8 | ‑11 | ‑5 | |
| Petroleum products | 34 571 | 35 782 | 6.7 | ‑3 | ‑1 | |
| Machinery, transport equipment | 236 815 | 233 506 | 45.8 | 1 | ‑1 | |
| Manufactures of metals | 12 797 | 13 191 | 2.5 | ‑3 | ‑4 | |
| Industrial machinery | 76 405 | 77 146 | 14.8 | ‑1 | ‑6 | |
| Electronics, telecommunication | 49 835 | 50 471 | 9.6 | ‑1 | ‑1 | |
| Road vehicles | 84 275 | 79 234 | 16.3 | 6 | 3 | |
| Passenger cars | 45 375 | 41 861 | 8.8 | 8 | 7 | |
| Lorries, trucks[1] | 13 751 | 12 943 | 2.7 | 6 | ‑4 | |
| Parts, accessories | 19 588 | 18 968 | 3.8 | 3 | 1 | |
| Other transport equipment | 2 230 | 2 122 | 0.4 | 5 | 4 | |
| Instruments, photo/optical products | 11 274 | 11 341 | 2.2 | ‑1 | ‑4 | |
| Other products | 67 310 | 70 786 | 13.0 | ‑5 | ‑7 | |
| Food, beverages, tobacco | 33 242 | 34 761 | 6.4 | ‑4 | ‑6 | |
| Textiles, clothing, footwear | 13 059 | 14 324 | 2.5 | ‑9 | ‑11 | |
| Furniture | 5 698 | 6 259 | 1.1 | ‑9 | ‑11 | |
Imports of wood and paper products fell by 6 percent in value while they rose by 7 percent in volume
Imports of machinery and transport equipment decreased by 3 percent in value, and by 4 percent in volume. Imports of wood and paper products fell by 6 percent in value, while they rose by 7 percent in volume. Imports of minerals decreased by 6 percent in value, while they increased by 3 percent in volume. Imports of mineral fuels and electric current fell by 8 percent in value, and by 4 percent in volume. Within the other products area, imports of food/beverages/tobacco decreased by 2 percent in value, while they remained the same in volume.
| Imports | ||||||
|---|---|---|---|---|---|---|
| Value (current prices) | Value (current prices) |
Volume (value in constant prices) |
||||
| Share in % |
Change in % |
Change in % |
||||
| Commodity group according to SITC | January-March 2024 |
January-March 2023 |
January-March 2024 |
Q1 2024/Q1 2023 |
Q1 2024/Q1 2023 |
|
| Total | 488 280 | 513 837 | 100.0 | ‑5 | ‑3 | |
| Wood and paper products | 13 748 | 14 612 | 2.8 | ‑6 | 7 | |
| Minerals | 39 127 | 41 690 | 8.0 | ‑6 | 3 | |
| Iron and steel | 14 024 | 17 615 | 2.9 | ‑20 | ‑10 | |
| Non-ferrous metals | 11 269 | 9 042 | 2.3 | 25 | 43 | |
| Metalliferrous ores, metal scrap | 7 046 | 7 361 | 1.4 | ‑4 | 2 | |
| Chemicals, rubber products | 65 353 | 70 276 | 13.4 | ‑7 | ‑3 | |
| Organic/inorganic chemicals | 14 067 | 17 750 | 2.9 | ‑21 | ‑18 | |
| Pharmaceutical products | 19 440 | 18 109 | 4.0 | 7 | 9 | |
| Plastics | 10 723 | 11 768 | 2.2 | ‑9 | ‑2 | |
| Crude rubber, rubber products | 5 355 | 5 792 | 1.1 | ‑8 | ‑6 | |
| Mineral fuels, electric current | 52 281 | 56 905 | 10.7 | ‑8 | ‑4 | |
| Crude petroleum oils | 32 609 | 29 983 | 6.7 | 9 | 5 | |
| Petroleum products | 14 783 | 20 453 | 3.0 | ‑28 | ‑22 | |
| Machinery, transport equipment | 214 836 | 222 451 | 44.0 | ‑3 | ‑4 | |
| Manufactures of metals | 14 910 | 16 808 | 3.1 | ‑11 | ‑8 | |
| Industrial machinery | 50 104 | 52 862 | 10.3 | ‑5 | ‑9 | |
| Electronics, telecommunication | 78 717 | 77 564 | 16.1 | 1 | 5 | |
| Road vehicles | 54 960 | 59 137 | 11.3 | ‑7 | ‑10 | |
| Passenger cars | 26 394 | 28 877 | 5.4 | ‑9 | ‑10 | |
| Parts and accessories | 18 396 | 19 151 | 3.8 | ‑4 | ‑6 | |
| Other transport equipment | 3 664 | 3 550 | 0.8 | 3 | 4 | |
| Instruments, photo/optical equip | 12 481 | 12 530 | 2.6 | 0 | ‑4 | |
| Other products | 102 936 | 107 904 | 21.1 | ‑5 | ‑3 | |
| Food, beverages, tobacco | 54 182 | 55 411 | 11.1 | ‑2 | 0 | |
| Textiles, clothing, footwear | 22 423 | 24 272 | 4.6 | ‑8 | ‑7 | |
| Furniture | 6 355 | 7 041 | 1.3 | ‑10 | ‑11 | |
Value and volume trends
The value index and the volume index describe nominal and real value trends over time. The real value trends describe trends in which price changes have been removed. The indices are chain indices with base year 2015=100.
The value index and the volume index for exports decreased in the first quarter of 2024 compared to the fourth quarter of 2023. The value index and the volume index are lower compared to the same period last year.
The value index and the volume index for imports of goods decreased in the first quarter of 2024 compared to the fourth quarter of 2023 and are lower compared to the same period last year. The value index is the lowest since the first quarter of 2022.
Detailed information about January–March 2024 (current prices)
Exports of goods to Germany fell by 10 percent
Sweden’s exports of goods to EU27 decreased by 5 percent, and imports from there by 4 percent compared with the same period a year ago. Both exports to and imports from the euro countries fell by 4 percent. Among the EU countries, exports to Germany decreased by 10 percent, to Denmark by 14 percent and to Finland by 5 percent. Imports from Germany decreased by 6 percent, from Denmark by 4 percent while they remained the same from Finland.
Exports to other European countries decreased by 7 percent, and imports from there by 4 percent. Exports to the United Kingdom fell by 7 percent, while imports from there rose by 25 percent. In the period, imports of crude petroleum oils accounted for the largest increase from the United Kingdom. Exports to Norway decreased by 5 percent, and imports from there by 12 percent. In the period, imports of mineral fuels and electric current accounted for the largest decrease from Norway. Exports to Russia fell by 22 percent, while imports from there rose by 22 percent. In the period, imports of metalliferrous ores/metal scrap accounted for the largest increase in percentage, but in terms of value the increase was almost nought.
Exports to Asia fell by 4 percent, and imports from there by 8 percent. Exports to China decreased by 4 percent, and imports from there by 6 percent.
Exports to the United States decreased by 5 percent, and imports from there by 20 percent. In the period, imports of chemicals/rubber products accounted for the largest decrease from the United States.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Value (current prices) | Value (current prices) | ||||||||
| Region | January-March | Share in % |
Change in % |
January-March | Share in % |
Change in % |
|||
| 2024 | 2023 | 2024 | 2024/2023 | 2024 | 2023 | 2024 | 2024/2023 | ||
| Total | 516 930 | 541 522 | 100.0 | ‑5 | 488 280 | 513 837 | 100.0 | ‑5 | |
| Europe | 381 422 | 401 888 | 73.8 | ‑5 | 411 859 | 429 221 | 84.3 | ‑4 | |
| EU27_2020 | 289 497 | 303 443 | 56.0 | ‑5 | 328 798 | 342 328 | 67.3 | ‑4 | |
| EMU-20 | 222 596 | 231 389 | 43.1 | ‑4 | 257 001 | 269 070 | 52.6 | ‑4 | |
| Other European countries | 91 925 | 98 445 | 17.8 | ‑7 | 83 061 | 86 892 | 17.0 | ‑4 | |
| Africa | 9 295 | 9 679 | 1.8 | ‑4 | 4 092 | 5 120 | 0.8 | ‑20 | |
| North Africa | 5 029 | 4 616 | 1.0 | 9 | 1 354 | 1 610 | 0.3 | ‑16 | |
| West Africa | 658 | 1 328 | 0.1 | ‑50 | 2 305 | 2 684 | 0.5 | ‑14 | |
| Central, East and Southern Africa | 3 607 | 3 736 | 0.7 | ‑3 | 433 | 826 | 0.1 | ‑48 | |
| America | 62 588 | 65 263 | 12.1 | ‑4 | 24 305 | 26 415 | 5.0 | ‑8 | |
| North America | 52 698 | 54 729 | 10.2 | ‑4 | 18 119 | 22 809 | 3.7 | ‑21 | |
| Central and South America | 9 890 | 10 534 | 1.9 | ‑6 | 6 186 | 3 606 | 1.3 | 72 | |
| Asia | 55 064 | 57 358 | 10.7 | ‑4 | 46 929 | 50 896 | 9.6 | ‑8 | |
| Middle- and Near East | 9 361 | 9 537 | 1.8 | ‑2 | 3 096 | 3 552 | 0.6 | ‑13 | |
| Other countries in Asia | 45 703 | 47 821 | 8.8 | ‑4 | 43 833 | 47 344 | 9.0 | ‑7 | |
| Oceania and Antarctica | 6 570 | 5 383 | 1.3 | 22 | 1 096 | 2 158 | 0.2 | ‑49 | |
Next publishing will be
2024-08-28 at 08:00.
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