Sweden's exports of goods and services increased by 10% in the first half of the year compared to the corresponding period in 2018, according to a new report by the Swedish National Board of Trade (Kommerskollegiet).
In the first half of 2019, 73% of Swedish goods exports went to Europe. EU’s share of value was 59%; Asia and America received 12% and 11%, respectively of Sweden's exports. Exports were higher to all continents in the first half of 2019. The largest increase was the export increase to America (+25%), followed by Africa (+15%) and the EU (+7.0%). Exports to the rest of Europe increased 4.8% and that of Asia with 2.1%.
Exports of goods from Sweden to the U.S. increased sharply during the first half of the year, up 28%. It was mainly the export of medicines and passenger cars that drove the development. Trade with EU countries also showed an increase of 7.0%. In total, Sweden's goods exports increased by 8.1% and imports increased by 2.3% during the first months of the year. In terms of volume, exports increased by 2.8%, while imports decreased by 1.4%.
84% of Sweden's imports come from Europe and 71% from the EU. Imports increased from all continents except from Africa. The largest increase was from Asia (+12 %), followed by America
(+3%) and the rest of Europe (+2.8%).
But the second quarter shows slightly weaker figures. Indeed, after a period of very strong development in foreign trade, signs of a slowdown can now be discerned, especially with regard to the trade in goods.