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Stronger Swedish current account

Wednesday, 30 November 2011
The surplus in Swedish current account became even stronger during the third quarter. The larger surplus is due to a stronger trade in goods and services as well as increased investment income.
Trade in goods and services resulted in a surplus of Skr 64.0 billion for the third quarter. Both the trade in goods and trade in services have been strengthened, mainly because of strong growth in exports. Trade in goods resulted in a surplus of Skr 26.3 billion while the trade in services resulted in a surplus of Skr 37.7 billion.

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The surplus in investment income has increased and amounted to Skr 23.0 billion during the third quarter. These strong earnings are mainly because earnings on portfolio investments turned from negative to positive as a result of lower Swedish interest rates.

Lower Swedish interest rates strengthen earnings on capital because interest costs to other countries decrease.

The surplus in the current account is balanced by a deficit in the financial account of Skr 56.1 billion. Similar to the previous quarter, other investments were the main contribution to the deficit. Financial derivatives, which have showed a surplus since 2010, now contributed to the deficit instead.
News source: Statistic Sweden


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