Sweden's trade deficit decreased in August compared to the same month last year, driven by a sharper decline in imports than exports, according to recent data from Statistics Sweden.
The trade deficit narrowed to SEK 5.3 billion in August, down from SEK 7.8 billion the previous year. Notably, the trade balance showed a surplus of SEK 6.6 billion in July.
Year-over-year, exports decreased by 5.0 percent, while imports saw a larger drop of 6.0 percent.
Focusing on specific trade regions, the non-EU trade balance posted a surplus of SEK 15.0 billion in August. In contrast, trade with the EU recorded a deficit of SEK 20.3 billion.
On a seasonally adjusted basis, the trade surplus in August stood at SEK 6.9 billion, slightly higher than the SEK 6.8 billion surplus observed in the prior month.
