External trade in goods, indices of volume and price: Import prices of food, beverages, and tobacco increase by 6.1% in 1st quarter 2023
According to the latest update from the Swedish National Statistical Office, SCB, the import prices of food, beverages, and tobacco increased by 6.1% in the first quarter of 2023 compared to the fourth quarter of 2022. This was revealed in the quarterly report on External trade in goods, indices of volume and price, which provides an overview of the development of Sweden’s external trade in goods.
The report showed that the volume index for imports of goods, excluding ships and oil platforms, decreased by 10.1% in the first quarter of 2023 compared to the previous quarter. Meanwhile, the volume index for exports decreased by 1.0%. In terms of price index, the report showed a decrease of 19.1% for exports and an increase of 0.2% for imports.
The group of food, beverages, and tobacco saw a significant increase in price index, with a rise of 23.0% for exports and 6.1% for imports. This group also saw a decrease in the volume index for both imports and exports, with a decline of 7.9% and 21.9% respectively.
The report also provided data for other groups of goods classified according to the Standard International Trade Classification (SITC-Rev. 4). Crude materials except fuels saw a decrease in the volume index for both imports and exports, while fuels and manufactured goods except food, beverages, and tobacco saw mixed results.
The report provides important information for policymakers, businesses, and the public to understand the development of Sweden’s external trade in goods. The next update is scheduled for July 25th, 2023.