Foreign trade in services, quarter 2 2025
Foreign trade in services slows down
Statistical news from Statistics Sweden 2025-09-02 8.00
The value of Swedish exports and imports of services continued to increase during the second quarter of the year, compared to the same period last year. But the growth rate has slowed down, particularly in exports.
Larger increase in imports of services
Trade in services continued to grow during the second quarter of 2025. Exports of services increased by 3 percent compared to the same quarter the year before, while imports increased by 6 percent (based on nominal prices).
Sweden’s exports of services were valued at SEK 318 billion in the second quarter of 2025, while imports were valued at SEK 344 billion. This resulted in a deficit of SEK 26 billion. The corresponding figure for the same quarter last year was a deficit of SEK 14 billion.
The trade in services is measured in nominal prices using Swedish krona (SEK). Adjustments for inflation or currency effects are therefore not made.
Charges for the use of intellectual property has large impact on trade balance
Charges for the use of intellectual property include fees paid for licences and royalties. While exports in this service item rose by two percent, imports surged by 32 percent. This was the largest increase, both in percentage terms and absolute value, which caused a substantial negative effect on the trade balance.
The aggregate other business services accounted for the largest increase in exports by value, followed by personal, cultural and recreational services. Manufacturing services contributed with the largest decrease.
The second largest increase in imports by value came from telecommunications, computer and information services, where the increase was almost fully driven by computer services. Transports had the largest decrease.
The expansion of services trade has decelerated
While the services trade continues to grow, its recent progress has been markedly more subdued.
In 2020, the services trade recoiled due to the pandemic. The recovery was underway already in the following year, with a strong development that lasted into 2022 and 2023. The services trade is measured in nominal prices, which means that growth could reflect more trade, but also inflation and currency effects. By the end of 2023, the growth numbers started to decelerate, and the progress has been reduced ever since. The export growth rate in 2025 is in fact the lowest since 2020.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Service item | Share in % | Change in % | Share in % | Change in % | |||||
| 2025Q2 | 2024Q2 | 2025Q2 | 2025Q2/2024Q2 | 2025Q2 | 2024Q2 | 2025Q2 | 2025Q2/2024Q2 | ||
| Total | 317 550 | 309 575 | 100.0 | 2.6 | 343 700 | 323 173 | 100.0 | 6.4 | |
| Manufacturing services | 8 187 | 14 199 | 2.6 | ‑42.3 | 9 658 | 9 171 | 2.8 | 5.3 | |
| Maintenance and repair services | 1 681 | 1 489 | 0.5 | 12.9 | 5 672 | 4 988 | 1.7 | 13.7 | |
| Transport | 37 228 | 38 618 | 11.7 | ‑3.6 | 42 426 | 43 522 | 12.3 | ‑2.5 | |
| Travel | 30 854 | 27 887 | 9.7 | 10.6 | 38 376 | 37 177 | 11.2 | 3.2 | |
| Construction | 3 098 | 2 804 | 1.0 | 10.5 | 5 894 | 5 238 | 1.7 | 12.5 | |
| Insurance and pension services | 2 006 | 3 392 | 0.6 | ‑40.9 | 2 108 | 2 016 | 0.6 | 4.6 | |
| Financial services | 14 383 | 13 702 | 4.5 | 5.0 | 6 351 | 6 751 | 1.8 | ‑5.9 | |
| Charges for the use of intellectual property | 30 098 | 29 431 | 9.5 | 2.3 | 60 703 | 46 069 | 17.7 | 31.8 | |
| Telecommunications, computer, and information services | 62 017 | 59 422 | 19.5 | 4.4 | 47 214 | 45 016 | 13.7 | 4.9 | |
| Other business services | 95 065 | 89 434 | 29.9 | 6.3 | 118 055 | 117 127 | 34.3 | 0.8 | |
| Personal, cultural, and recreational services | 31 357 | 27 805 | 9.9 | 12.8 | 6 554 | 5 341 | 1.9 | 22.7 | |
| Government goods and services | 1 576 | 1 391 | 0.5 | 13.3 | 689 | 756 | 0.2 | ‑8.9 | |
Revisions
Quarter 1 2025 has been revised in accordance with the regular revision schedule. Exports of services were revised up by approximately SEK 1,6 billion, while imports were revised down by SEK 665 million. The net was thus revised up by nearly SEK 2,3 billion.
The foreign trade in services data are revised according to a revision schedule. In connection with the publication of quarter 1 to quarter 3, the previous quarter’s data are revised. In connection with the publication of quarter 4, the seven previous quarters are revised. If necessary, revisions can also be made outside the regular revision schedule. Revisions are primarily a result of late submissions or amended information from respondents but can also be due to changes in statistical models.
The data should be considered preliminary before being revised according to the regular revision schedule.
Definitions and explanations
What is foreign trade in services?
The statistics on foreign trade in services is a presentation of all Swedish transactions related to trade in services with the rest of the world. These statistics are reported quarterly and form the basis for both the National Accounts and the current account in Balance of Payments. The section More information contains an explanation on why trade in services in the National Accounts and the Balance of Payments sometimes differ from this statistic.
Next publishing will be
2025-12-02, 08:00.
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.