Foreign trade in services Q4 2020
Foreign trade in services remained affected by COVID-19 pandemic in first quarter 2021
Statistical news from Statistics Sweden 2021-06-04 9.30
In the first quarter of 2021 the impact of the COVID-19 pandemic remains clear on foreign trade in services. Mainly travel was affected negatively to a large degree.
Service balance strengthened
In the first quarter of 2021, exports of services fell by 9 percent and imports of services fell by 15 percent compared with the same quarter in 2020.
The value of Sweden’s exports of services amounted to SEK 150 billion in the first quarter 2021. Imports of services amounted to SEK 145 billion, which led to a net balance of SEK 5 billion. The net balance was strengthened compared with the same quarter a year ago, when it amounted to minus SEK 7 billion.
Travel continues to decrease
Different types of services noted varying development; some services had a positive development, although most had a negative development. In total, imports decreased more than exports, which led to a strengthened net balance. Travel services were greatly affected by restrictions due to the COVID-19 pandemic, and as in previous quarters noted a strong negative development. The import of travel decreased more than the export of travel, which strengthened the net balance.
On the export side, fees for use of intellectual property fell by 13 percent, while telecommunication, computer and information services rose by 13 percent. Other business services (including research and development services, administrative services and marketing services) fell by 18 percent.
On the import side, fees for use of intellectual property rose by 13 percent. Telecommunication, data and information services rose by 1 percent, while other business services fell by 13 percent.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Share in % | Change in % | Share in % | Change in % | ||||||
| 2021Q1 | 2020Q1 | 2021Q1 | 2021Q1/2020Q1 | 2021Q1 | 2020Q1 | 2021Q1 | 2021Q1/2020Q1 | ||
| Total | 150 009 | 164 680 | 100.0 | ‑8.9 | 144 888 | 171 205 | 100.0 | ‑15.4 | |
| Manufacturing services | 2 615 | 3 051 | 1.7 | ‑14.3 | 4 663 | 3 794 | 3.2 | 22.9 | |
| Maintenance and repair services | 934 | 763 | 0.6 | 22.4 | 751 | 886 | 0.5 | ‑15.2 | |
| Transport | 17 067 | 21 333 | 11.4 | ‑20.0 | 18 974 | 23 231 | 13.1 | ‑18.3 | |
| Travel | 6 768 | 15 104 | 4.5 | ‑55.2 | 8 819 | 25 320 | 6.1 | ‑65.2 | |
| Construction | 1 053 | 1 129 | 0.7 | ‑6.7 | 2 112 | 3 298 | 1.5 | ‑36.0 | |
| Insurance and pension services | 3 701 | 1 940 | 2.5 | 90.8 | 1 458 | 1 750 | 1.0 | ‑16.7 | |
| Financial services | 10 235 | 8 048 | 6.8 | 27.2 | 4 839 | 4 530 | 3.3 | 6.8 | |
| Charges for the use of intellectual property | 18 238 | 20 998 | 12.2 | ‑13.1 | 21 650 | 19 098 | 14.9 | 13.4 | |
| Telecommunications, computer, and information services | 33 606 | 29 852 | 22.4 | 12.6 | 24 825 | 24 554 | 17.1 | 1.1 | |
| Other business services | 40 578 | 49 290 | 27.1 | ‑17.7 | 52 890 | 60 880 | 36.5 | ‑13.1 | |
| Personal, cultural, and recreational services | 14 092 | 11 965 | 9.4 | 17.8 | 3 367 | 3 324 | 2.3 | 1.3 | |
| Government goods and services | 1 123 | 1 207 | 0.7 | ‑7.0 | 539 | 539 | 0.4 | 0.0 | |
Revisions
Quarter 1 2019 to quarter 4 2020 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
2021-09-03 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.