Foreign trade in services Q2 2021
Foreign trade in services sees an upturn
Statistical news from Statistics Sweden 2021-09-03 9.30
Several types of services increased in the second quarter of 2021. The largest upturn was noted in travel, although levels remain low.
Service balance was strengthened
Foreign trade in services increased in the second quarter of 2021 compared with the same quarter a year ago. Exports of services rose by 11 percent and imports of services rose by 9 percent.
Sweden’s exports of services were valued at SEK 159 billion in the second quarter. Imports of services amounted to SEK 158 billion, which led to a net balance of SEK 1 billion. The net balance was strengthened compared with the same quarter a year ago, when the net balance was negative SEK 1 billion.
Travel increased but did not reach earlier levels
Travel (consumption abroad), which has been heavily affected by the COVID-19 pandemic, rose in the second quarter compared with the same quarter a year ago; export of travel rose by 47 percent and import rose by 104 percent. However, this service type remains at a significantly lower level than before the outbreak of the pandemic. Transport show the same pattern as travel, that is, increases in both exports and imports, but lower levels than before the pandemic. Exports of transport rose by 14 percent compared with the same quarter a year ago and imports rose by 8 percent in a corresponding comparison.
On the export side, charges for use of intellectual property rose by 12 percent, and telecommunication, computer and information services rose by 9 percent. Other business services (including research and development services, administrative services and marketing services) rose by 11 percent.
On the import side, charges for use of intellectual property fell by 6 percent. Telecommunication, computer and information services rose by 2 percent, and other business services rose by 9 percent.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Share in % | Change in % | Share in % | Change in % | ||||||
| 2021Q2 | 2020Q2 | 2021Q2 | 2021Q2/2020Q2 | 2021Q2 | 2020Q2 | 2021Q2 | 2021Q2/2020Q2 | ||
| Total | 158 931 | 143 596 | 100.0 | 10.7 | 157 980 | 144 465 | 100.0 | 9.4 | |
| Manufacturing services | 2 886 | 2 998 | 1.8 | ‑3.7 | 3 962 | 3 077 | 2.5 | 28.8 | |
| Maintenance and repair services | 588 | 762 | 0.4 | ‑22.8 | 1 172 | 879 | 0.7 | 33.3 | |
| Transport | 18 480 | 16 249 | 11.6 | 13.7 | 19 922 | 18 498 | 12.6 | 7.7 | |
| Travel | 8 938 | 6 099 | 5.6 | 46.5 | 13 575 | 6 650 | 8.6 | 104.1 | |
| Construction | 1 219 | 1 126 | 0.8 | 8.3 | 2 816 | 3 189 | 1.8 | ‑11.7 | |
| Insurance and pension services | 1 634 | 2 657 | 1.0 | ‑38.5 | 1 531 | 1 793 | 1.0 | ‑14.6 | |
| Financial services | 8 910 | 8 080 | 5.6 | 10.3 | 4 589 | 4 339 | 2.9 | 5.8 | |
| Charges for the use of intellectual property | 21 674 | 19 446 | 13.6 | 11.5 | 21 582 | 23 035 | 13.7 | ‑6.3 | |
| Telecommunications, computer, and information services | 34 672 | 31 872 | 21.8 | 8.8 | 23 891 | 23 488 | 15.1 | 1.7 | |
| Other business services | 44 945 | 40 381 | 28.3 | 11.3 | 61 116 | 56 262 | 38.7 | 8.6 | |
| Personal, cultural, and recreational services | 13 874 | 12 682 | 8.7 | 9.4 | 3 235 | 2 680 | 2.0 | 20.7 | |
| Government goods and services | 1 110 | 1 244 | 0.7 | ‑10.8 | 590 | 571 | 0.4 | 3.3 | |
Revisions
Quarter 1 2021 have been revised.
Definitions and explanations
What is foreign trade in services?
The statistics on foreign trade in services is a presentation of all Swedish transactions related to trade in services with the rest of the world. These statistics are reported quarterly and form the basis for both the National Accounts and the current account in Balance of Payments. The section More information contains an explanation on how trade in services in the National Accounts and the Balance of Payments sometimes differ from this statistic.
Next publishing will be
2021-12-06 09:30.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.