The trade of goods in Sweden witnessed a notable increase in May compared to April, signaling positive economic growth. According to the latest statistics released by Statistics Sweden (SCB), the value of goods exported rose by 4 percent, and the volume increased by 1 percent compared to the same month last year. Simultaneously, the value of goods imported also grew, registering a 1 percent increase, while the volume declined by 3 percent during the same period.
Kajsa Krol Brevinge, a statistician at SCB, pointed out that the export of pharmaceuticals experienced substantial growth in both value and volume compared to the previous year and the preceding month.
In a month-on-month comparison, Sweden’s exports surged by 10 percent in both value and volume, while imports showed an impressive 8 percent increase in value and a 10 percent rise in volume compared to the previous month. It is worth noting that May 2023 had the same number of working days as May 2022.
Detailed data for May 2023 (in current and fixed prices) reveals significant changes in specific trade sectors:
Export:
- Export of energy products decreased by 43 percent in value and 14 percent in volume.
- Forest products experienced a decrease of 17 percent in value but saw a 6 percent increase in volume.
- The export of chemical products increased by 10 percent in value and 5 percent in volume, with pharmaceuticals showing a remarkable 23 percent increase in value and 14 percent in volume.
- Machinery and industrial equipment exports increased by 24 percent in value and 9 percent in volume. Notably, the export of passenger cars within this category surged by 46 percent in value and 34 percent in volume compared to the same month last year.
Import:
- Import of energy products declined by 21 percent in value but showed a 3 percent increase in volume.
- The import of machinery and industrial equipment increased by 16 percent in value and 4 percent in volume. Similar to the export sector, the import of passenger cars recorded an impressive 37 percent increase in value and 26 percent in volume compared to the same month last year.
- Import of other goods decreased by 1 percent in value and 12 percent in volume, while the import of food, beverages, and tobacco increased by 8 percent in value and 10 percent in volume.
These trade figures indicate a positive economic trend in Sweden, reflecting both domestic and international demand for its goods. The government’s efforts to support sustainable trade practices may have contributed to the overall growth in the export and import sectors.