Sweden’s Merchandise Trade Sees Robust Growth in October

In a recent release from Statistics Sweden (SCB), data reveals a significant surge in Sweden’s merchandise exports during October, showcasing positive trends in both value and volume. Here are the key highlights:

  • Export Growth:
    • Merchandise exports rose by 11% in value and 6% in volume compared to the same month last year.
    • Month-on-month comparison indicates a 5% increase in export value and a substantial 7% growth in volume.
  • Import Scenario:
    • Merchandise imports remained stable in value but experienced a 3% decline in volume compared to the same period last year.
    • Month-on-month statistics show a 2% increase in both import value and volume.
  • Sectoral Breakdown:
    • Mineral Products: Exports of mineral products soared by 17% in value and 16% in volume compared to October last year. Notably, iron ore exports surged by 67% in value and 63% in volume.
    • Machinery and Equipment: Exports in this category spiked by 22% in value and 11% in volume, with a notable 21% increase in the export of passenger cars.
    • Energy Products: Despite an 18% decrease in export value, volume increased by 4% compared to the same period last year.
  • Expert Insights:
    • Kajsa Krol Brevinge, a statistician at SCB, highlighted the increase in the import of food/drinks/tobacco in both value and volume compared to the previous month.