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Exports, imports and net trade balance, May 2020, in current prices

Net trade balance at SEK 2.4 billion in May

Statistical news from Statistics Sweden 2020-06-29 9.30

In May 2020, Swedish exports of goods amounted to SEK 101.5 billion, while imports of goods amounted to SEK 99.1 billion. As a result, the net trade balance was SEK 2.4 billion.

Foreign trade in goods resulted in a net trade surplus of SEK 2.4 billion in May 2020, according to preliminary calculations. In May 2019, there was a net trade surplus of SEK 6.1 billion.

The value of exports in May 2020 was SEK 101.5 billion, while imports were valued at SEK 99.1 billion. The corresponding values ​​for May 2019 were SEK 136.7 billion for exports and SEK 130.6 billion for imports. Exports of goods thus decreased by 26 percent in value, and imports decreased by 24 percent in value compared with May 2019. The number of weekdays in May 2020 was two less compared with May 2019.

Trade in goods with countries outside the EU resulted in a surplus of SEK 16.7 billion, while EU trade resulted in a deficit of SEK 14.3 billion. As from February 2020, the United Kingdom no longer forms part of the group EU Member States and is included, instead, in the group Non-EU Member States.

Exports, imports and net trade of goods. SEK millions, current prices. Trend
Exports, imports and net trade balance, May 2020, in current prices

Seasonally adjusted, net trade showed a surplus of SEK 4.4 billion in May, compared with a surplus of SEK 4.7 billion in April. The corresponding figure for March was a surplus of SEK 5.4 billion.

Net trade (Jan – May 2020) surplus of SEK 37.1 billion

In this period, the value of exports of goods decreased by 7 percent, while the value of imports of goods decreased by 11 percent compared with the corresponding period a year ago. Exports were valued at SEK 598.1 billion and imports were valued at SEK 561.0 billion, resulting in a net trade surplus of SEK 37.1 billion for January – May 2020. The corresponding net trade balance for these months a year earlier was a surplus of SEK 17.0 billion.

Exports, imports and net trade in goods 2018–2020 (SEK billion). Revised figures in bold type
  Month Total EU Member States[*] Non EU Member States
    2018 2019 2020 2018 2019 2020 2018 2019 2020
Exports Jan 115.2 125.8 131.1 67.6 74.0 75.8 47.6 51.8 55.3
  Febr 108.4 122.1 127.8 65.9 72.3 67.0 42.5 49.8 60.8
  March 122.4 133.2 131.1 73.3 79.3 66.9 49.1 53.9 64.2
  April 116.8 128.5 106.6 68.5 74.7 52.4 48.3 53.8 54.2
  May 124.4 136.7 101.5 75.2 78.9 51.0 49.2 57.8 50.5
  June 126.1 122.1   73.4 71.4   52.7 50.7  
  July 108.5 122.7   64.5 68.2   44.0 54.5  
  Aug 112.8 113.7   69.1 68.3   43.7 45.4  
  Sept 123.3 128.1   74.9 74.0   48.4 54.1  
  Oct 135.9 137.1   80.7 78.7   55.2 58.4  
  Nov 137.6 131.5   81.5 73.7   56.1 57.8  
  Dec 110.2 116.9   63.4 65.6   46.8 51.3  
  Total 1 441.6 1 518.4 598.1 858.0 879.1 313.0 583.6 639.3 285.1
Imports Jan 118.8 124.8 119.6 83.5 87.0 83.9 35.3 37.8 35.7
  Febr 111.1 117.4 114.9 81.0 84.6 76.9 30.1 32.8 38.0
  March 121.1 127.9 126.2 87.5 90.6 84.9 33.6 37.3 41.3
  April 124.0 128.6 101.2 87.6 89.7 65.9 36.4 38.9 35.3
  May 131.2 130.6 99.1 93.5 93.2 65.4 37.7 37.4 33.7
  June 125.9 120.5   88.3 84.5   37.6 36.0  
  July 109.9 116.3   73.3 77.9   36.6 38.4  
  Aug 121.4 119.1   80.5 80.5   40.9 38.6  
  Sept 121.5 126.7   84.7 91.4   36.8 35.3  
  Oct 144.9 140.9   99.2 98.5   45.7 42.4  
  Nov 135.1 129.2   97.0 93.2   38.1 36.0  
  Dec 117.4 119.6   81.8 83.8   35.6 35.8  
  Total 1 482.3 1 501.6 561.0 1 037.9 1 054.9 377.0 444.4 446.7 184.0
Net Trade of Goods Jan ‑3.6 1.0 11.5 ‑15.9 ‑13.0 ‑8.1 12.3 14.0 19.6
  Febr ‑2.7 4.7 12.9 ‑15.1 ‑12.3 ‑10.0 12.4 17.0 22.9
  March 1.3 5.3 4.9 ‑14.2 ‑11.3 ‑18.1 15.5 16.6 23.0
  April ‑7.2 ‑0.1 5.4 ‑19.1 ‑15.0 ‑13.5 11.9 14.9 18.9
  May ‑6.8 6.1 2.4 ‑18.3 ‑14.3 ‑14.3 11.5 20.4 16.7
  June 0.2 1.6   ‑14.9 ‑13.1   15.1 14.7  
  July ‑1.4 6.4   ‑8.8 ‑9.7   7.4 16.1  
  Aug ‑8.6 ‑5.4   ‑11.4 ‑12.2   2.8 6.8  
  Sept 1.8 1.4   ‑9.8 ‑17.4   11.6 18.8  
  Oct ‑9.0 ‑3.8   ‑18.5 ‑19.8   9.5 16.0  
  Nov 2.5 2.3   ‑15.5 ‑19.5   18.0 21.8  
  Dec ‑7.2 ‑2.7   ‑18.4 ‑18.2   11.2 15.5  
  Total ‑40.7 16.8 37.1 ‑179.9 ‑175.8 ‑64.0 139.2 192.6 101.1

*) As from February 2020, the United Kingdom no longer forms part of the group EU Member States and is included, instead, in the group Non-EU Member States.

Definitions and explanations

Last month’s import and export values in trade with the EU are estimates based on data provided by a large subset of companies that trade with the EU. Most (95 percent) of the deviation between these estimates and the subsequent outcome lies within the range of SEK -2 billion and SEK 1 billion for both imports and exports.

Import and export values for trade in goods with non-EU countries are based largely on data from Swedish Customs.

Next publishing will be

2020-07-28.

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