Foreign trade in services Q4 2021
Foreign trade in services surpasses pre-pandemic levels
Statistical news from Statistics Sweden 2022-03-03 8.00
The final quarter of 2021 saw continued increases in foreign trade in services. Overall, trade in services exceeded pre-pandemic levels. But travels, where the largest decrease was recorded in the beginning of the pandemic, has not yet fully recovered.
Foreign trade in services increases
The foreign trade in services continues to increase during the fourth quarter of 2021. Exports of services rose by 12 percent and imports of services rose by 20 percent, compared with the same quarter last year.
Sweden’s exports of services were valued at SEK 198 billion in the fourth quarter of the year. Imports of services amounted to SEK 201 billion. This resulted in a negative net balance of nearly SEK 3 billion. The corresponding figure for the same quarter last year was positive and added up to SEK 9 billion.
Travels continue to recover
Travels (consumption abroad) plummeted in the beginning of the COVID-19 pandemic and although travels are not yet back at pre-pandemic levels, the recovery continues. Compared with the same quarter last year, travel exports increased by 102 percent and imports by 124 percent.
On the export side, charges for use of intellectual property rose by 1 percent. Telecommunication, computer and information services fell by 4 percent. Other business services (including research and development services, administrative services and marketing services) rose by 9 percent. Transports rose by 37 percent.
On the import side, charges for use of intellectual property rose by 7 percent. Telecommunication, computer and information services rose by 6 percent, and other business services rose by 21 percent. Transports rose by 24 percent.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Service item | Share in % | Change in % | Share in % | Change in % | |||||
| 2021Q4 | 2020Q4 | 2021Q4 | 2021Q4/2020Q4 | 2021Q4 | 2020Q4 | 2021Q4 | 2021Q4/2020Q4 | ||
| Total | 198 451 | 177 001 | 100.0 | 12.1 | 201 105 | 167 987 | 100.0 | 19.7 | |
| Manufacturing services | 3 876 | 3 010 | 2.0 | 28.8 | 3 949 | 4 224 | 2.0 | ‑6.5 | |
| Maintenance and repair services | 621 | 784 | 0.3 | ‑20.8 | 2 326 | 1 025 | 1.2 | 126.9 | |
| Transport | 24 770 | 18 052 | 12.5 | 37.2 | 25 298 | 20 342 | 12.6 | 24.4 | |
| Travel | 17 153 | 8 494 | 8.6 | 101.9 | 23 431 | 10 475 | 11.7 | 123.7 | |
| Construction | 1 363 | 1 075 | 0.7 | 26.8 | 3 326 | 3 859 | 1.7 | ‑13.8 | |
| Insurance and pension services | 2 818 | 1 604 | 1.4 | 75.7 | 1 541 | 1 440 | 0.8 | 7.0 | |
| Financial services | 9 612 | 10 398 | 4.8 | ‑7.6 | 4 765 | 4 608 | 2.4 | 3.4 | |
| Charges for the use of intellectual property | 20 166 | 19 955 | 10.2 | 1.1 | 21 413 | 22 952 | 10.6 | ‑6.7 | |
| Telecommunications, computer, and information services | 46 013 | 48 148 | 23.2 | ‑4.4 | 30 217 | 28 402 | 15.0 | 6.4 | |
| Other business services | 54 281 | 49 796 | 27.4 | 9.0 | 80 543 | 66 326 | 40.1 | 21.4 | |
| Personal, cultural, and recreational services | 16 405 | 13 922 | 8.3 | 17.8 | 3 688 | 3 733 | 1.8 | ‑1.2 | |
| Government goods and services | 1 372 | 1 761 | 0.7 | ‑22.1 | 607 | 601 | 0.3 | 1.0 | |
Revisions
Quarter 1 2020 to quarter 3 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
2022-06-03 08:00.
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.