FX.co ★ Sweden Trade Surplus Largest in 5 Months

In November 2025, Sweden’s trade surplus dramatically increased to SEK 11.6 billion, more than doubling the SEK 5.2 billion recorded in the same month the previous year, marking the highest surplus since June. Despite this rise, exports declined by 5.5% compared to the previous year to SEK 173.7 billion. This decline was primarily due to decreased sales to both EU countries, which fell by 8.4% to SEK 94.8 billion, and non-EU countries, which saw a 1.9% drop to SEK 78.9 billion. Conversely, imports decreased at a sharper rate of 9.3%, dropping to SEK 162.1 billion. This was largely caused by a 12% reduction in imports from non-EU countries, falling to SEK 48.2 billion, with imports from the EU decreasing by 8.1% to SEK 113.9 billion. Over the period from January to November, the cumulative trade surplus expanded to SEK 68.7 billion, up from SEK 61.1 billion during the same period the previous year. On a seasonally adjusted basis, November's surplus rose to SEK 8.9 billion from SEK 7.4 billion in October.