Tuesday, 31 May 2011
Sweden is still basking in impressive export growth reflected in the position look of its balance of payments for the first quarter of 2011 which showed a stronger current account.
Swedish organisation which collects and keep such data statistic Sweden reports that trade in goods improved and investment income also contributed to the stronger current account.
The surplus in the current account amounted to SEK 71.1 billion in the first quarter. This is an improvement of SEK 16.5 billion compared to the same period in 2010 according to statistic Sweden. An increased surplus for trade in goods has been the main contribution to this improvement. Even though the Swedish krona gained strength, exports of goods continued to increase. Earnings on capital also contributed to the improvement, mostly due to direct investments which resulted in higher earnings.
Trade in government securities generated an outflow. The financial account resulted in a net outflow of SEK 127.3 billion for the first quarter of 2011. It was mainly portfolio investments that contributed to the outflow with a net capital outflow of SEK 92.9 billion report statistic Sweden. The outflow is mainly due to trade with Swedish government securities and increased holdings of foreign debt securities owned by Swedish investors. Loans to other countries within other investments also resulted in a net outflow of capital.
By Scancomark.se Team