Sweden Trade Balance Swings To Deficit In September

(RTTNews) - Sweden's foreign trade balance turned to a deficit in September from a surplus in the previous year, as imports grew faster than exports, figures from Statistics Sweden showed on Wednesday.

The trade balance for September was a shortfall of SEK 1.8 billion against a surplus of SEK 5.5 billion in the corresponding month last year. In August, there was a deficit of SEK 18.0 billion.

Exports climbed 22.0 percent year-over-year in September, while imports rose at a faster rate of 28.0 percent.

The non-EU trade balance showed a surplus of SEK 19.6 billion in September, while the trade balance with the EU revealed a deficit of SEK 21.4 billion.

On a seasonally adjusted basis, the trade deficit was SEK 5.4 billion in September compared to a deficit of SEK 5.9 billion in August.