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Source of Swedish economic gloom: weak exports as net trade decreased in November.

Friday, 28 December 2012
Unlike other declining economies such as the UK, and the debt ridden economies of Southern Europe, Sweden still remain  a very competitive economy but its biggest problems is heavy reliance on the European market for its survival given its own small home market base.

This is the reason why in November 2012, Swedish exports of goods amounted to only Skr 99.2 billion, while imports of goods amounted to Skr 95.6 billion. As a result, the net trade balance was a meagre Skr 3.6 billion.

Foreign trade in goods resulted in a net trade surplus of Skr 3.6 billion in November 2012 according to preliminary calculations from the Swedish statistic office statistic Sweden. In November 2011 the net trade surplus was Skr 4.0 billion.

The value of exports in November 2012 amounted to Skr 99.2 billion, while imports were valued at Skr 95.6 billion. Compared to November 2011, exports and imports decreased by 5 percent each in value. Trade with countries outside the EU resulted in a surplus of Skr13.3 billion, while the EU trade resulted in a deficit of Skr 9.7 billion. One on definitely see the real source of Swedish economic gloom given that the Euro zone is Sweden's main trading market.

Had Sweden a bigger market like Germany, the UK, France, or even Spain, given its management prowess, it could have been able to contain  and insulate itself from the troubles in the Euro-zone by hopping to seek other markets and also increasing domestic consumption - something many austerity embedded countries have ignored. 

Seasonally adjusted, the net trade surplus amounted to Skr 5.9 billion in November 2012, compared to SEK 5.6 billion in October 2012. The corresponding figure for September was Skr 5.5 billion.

For the period January to November 2012, net trade showed surplus of Skr 69.4 billion. During this period, the value of exports decreased by 2 percent, while imports decreased by 3 percent in value compared to the corresponding period one year ago.

Exports amounted to Skr 1088.6 billion, and imports were valued at Skr 1019.2 billion, resulting in a surplus net trade balance of Skr 69.4 billion for January – November 2012. The corresponding surplus figure for these months one year earlier was Skr 65.1 billion.
by Scancomark.com Team

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