Sweden’s foreign trade balance turned to a deficit in January from a surplus in the previous year, figures from Statistics Sweden showed Tuesday.
The trade balance came in at a shortfall of SEK 1.8 billion in January versus a surplus of SEK 0.9 billion in the corresponding month last year.
Both exports and imports surged by 12.0 percent and 14.0 percent, respectively in January from a year ago.
Trade with countries outside the EU resulted in a surplus of SEK 12.8 billion, while EU trade showed a deficit of SEK 14.6 billion.
On a seasonally adjusted basis, the net trade deficit totaled SEK 1.7 billion in January versus SEK 0.5 billion shortfall in December.