Sweden trade surplus grows and producer prices fall further
Published: 01:02 PM,Feb 28,2024 | EDITED : 05:02 PM,Feb 28,2024
Man sells vegetables at Kungsgatan market next to the Drottninggatan in Stockholm, Sweden. — Reuters
COPENHAGEN: Sweden's foreign trade surplus increased in January from a year ago as imports fell faster than exports, figures from Statistics Sweden showed on Wednesday.
Separate official data showed that producer prices fell for the ninth successive month in January amid cheaper energy costs.
The trade surplus rose to 13.3 billion Swedish kronor ($1.28 billion)in January from 9.4 billion Swedish kronor in the corresponding month last year.
In December, the surplus was 1.9 billion Swedish kronor. On an annual basis, exports declined 3.0%, and imports showed a fall of 5%.
The non-EU trade balance showed a surplus of 20.1 billion Swedish kronor in January, while the trade balance with the EU revealed a deficit of 6.8 billion Swedish kronor.
On a seasonally adjusted basis, the trade surplus was 8.5 billion Swedish kronor in January, compared to 9 billion Swedish kronor in the previous month.
The producer price index dropped 2.3% year-on-year in January, much slower than the 7.7% fall in the previous month.
Further, this was the slowest decrease in six months. Prices for energy-related goods alone plunged by 10.9% annually in January, while those for capital goods rose by 4%.
Excluding energy-related products, producer price deflation in January was 0.5%.
On a monthly basis, producer prices moved up 0.3% versus a 1.6%decline in December. — dpa
Separate official data showed that producer prices fell for the ninth successive month in January amid cheaper energy costs.
The trade surplus rose to 13.3 billion Swedish kronor ($1.28 billion)in January from 9.4 billion Swedish kronor in the corresponding month last year.
In December, the surplus was 1.9 billion Swedish kronor. On an annual basis, exports declined 3.0%, and imports showed a fall of 5%.
The non-EU trade balance showed a surplus of 20.1 billion Swedish kronor in January, while the trade balance with the EU revealed a deficit of 6.8 billion Swedish kronor.
On a seasonally adjusted basis, the trade surplus was 8.5 billion Swedish kronor in January, compared to 9 billion Swedish kronor in the previous month.
The producer price index dropped 2.3% year-on-year in January, much slower than the 7.7% fall in the previous month.
Further, this was the slowest decrease in six months. Prices for energy-related goods alone plunged by 10.9% annually in January, while those for capital goods rose by 4%.
Excluding energy-related products, producer price deflation in January was 0.5%.
On a monthly basis, producer prices moved up 0.3% versus a 1.6%decline in December. — dpa