Sweden’s current account recorded a surplus of SEK 93.9 billion in the first quarter of 2026, down from SEK 131.3 billion in the same period a year earlier. This was the smallest quarterly surplus since the fourth quarter of 2023, primarily reflecting higher services imports and weaker investment income.
The deficit in the services account widened to SEK 31.3 billion from SEK 27.0 billion, as services imports increased by SEK 19.3 billion year-on-year. At the same time, the surplus on primary income narrowed to SEK 68.1 billion from SEK 90.7 billion, driven by a decline in investment returns.
The trade surplus also shrank, falling to SEK 88.8 billion from SEK 102.9 billion, as goods exports decreased by SEK 16.6 billion. Partly offsetting these developments, the secondary income deficit narrowed to SEK 31.6 billion from SEK 35.3 billion.
