FX.co ★ Swede Trade Surplus Narrows Sharply

Sweden’s trade surplus narrowed significantly to SEK 6.3 billion in January 2026, down from SEK 12.2 billion in the same month a year earlier. Imports declined 7.4% year-on-year to SEK 155.4 billion, reflecting reduced purchases from both EU partners, down 1.3% to SEK 104 billion, and non-EU countries, where imports fell 17.8% to SEK 51.4 billion. However, exports fell even more sharply, dropping 10.2% to SEK 161.7 billion, as sales to the EU decreased 6.1% to SEK 90.2 billion and exports to countries outside the EU slumped 14.9% to SEK 71.5 billion. On a seasonally adjusted basis, the trade surplus eased slightly to SEK 5.1 billion in January 2026, compared with SEK 5.4 billion in December.