Foreign trade in services, quarter 4 2025
Trade in services slows down
Statistical news from Statistics Sweden 2026-03-04 8.00
2025 was rounded off with a weaker quarter for Sweden’s foreign trade in services. The value of Sweden’s export and import of services increased, but growth rates were relatively modest. The UK and USA continue to be the most significant trading partners.
Service imports have outpaced exports throughout the year
The value of both exports and imports of services grew during the fourth quarter of 2025. Exports of services increased by just under 1 percent compared to the same quarter last year, while imports increased by just over 3 percent at current prices.
Sweden’s exports of services were valued at SEK 355 billion in the fourth quarter of 2025, while imports were valued at SEK 373 billion. This resulted in a deficit of SEK 18 billion. The corresponding figure for the same quarter last year was a deficit of just under SEK 9 billion.
Over the full year 2025, service imports outpaced service exports, resulting in a services trade deficit of SEK 92 billion. The corresponding deficit for 2024 amounted to SEK 38 billion. The service items that contributed most to the deficit were charges for the use of intellectual property and the aggregate other business services.
The services trade is measured in Swedish krona (SEK) and reported at current prices, which means no adjustments have been made for exchange rate effects or inflation.
The value of each service item in SEK million. The share of total exports and imports, respectively. Change in percent is compared to the corresponding quarter in the previous year
| Exports | Imports | |||||
|---|---|---|---|---|---|---|
| Value | Share | Change | Value | Share | Change | |
| Total | 354 904 | 100.0 | 0.8 | 372 955 | 100.0 | 3.4 |
| Manufacturing services | 9 129 | 2.6 | 8.5 | 10 760 | 2.9 | ‑7.2 |
| Maintenance and repair services | 1 792 | 0.5 | 44.6 | 2 863 | 0.8 | ‑2.2 |
| Transport | 36 907 | 10.4 | ‑4.8 | 41 845 | 11.2 | ‑0.1 |
| Travel | 28 186 | 7.9 | 5.5 | 35 760 | 9.6 | 3.8 |
| Construction | 3 713 | 1.0 | ‑9.2 | 7 474 | 2.0 | 9.9 |
| Insurance and pension services | 2 340 | 0.7 | ‑8.3 | 1 927 | 0.5 | 6.5 |
| Financial services | 16 918 | 4.8 | 4.6 | 7 524 | 2.0 | 4.1 |
| Charges for the use of intellectual property | 32 553 | 9.2 | ‑7.6 | 61 603 | 16.5 | 39.2 |
| Telecommunications, computer, and information services | 79 911 | 22.5 | 1.9 | 58 144 | 15.6 | ‑4.5 |
| Other business services | 108 347 | 30.5 | 6.1 | 135 414 | 36.3 | ‑2.7 |
| Personal, cultural, and recreational services | 33 270 | 9.4 | ‑1.3 | 8 961 | 2.4 | 1.0 |
| Government goods and services | 1 836 | 0.5 | ‑59.7 | 681 | 0.2 | ‑5.7 |
The United Kingdom and the USA remain important markets
The United Kingdom and the USA together account for about a fourth of Swedish export and import of services, making them Sweden’s largest trading partners for services.
The USA is Sweden’s largest services trade partner on the export side. In 2025, 13 percent of service exports were destined there. The USA has been Sweden’s largest service export market since 2019. The UK and Norway have also long been important export markets. In 2025, 11 percent of Sweden’s service exports went to the UK and 8 percent to Norway.
Value of Swedish exports of services to the USA, UK and Norway in SEK million, years 2015-2025
For imports, the UK is Sweden’s largest services trade partner, accounting for 22 percent of Sweden’s service imports in 2025. The UK has held this position since 2023, following a longer period during which the USA accounted for the largest share. Sweden also has substantial imports from Germany, and in recent years imports from Ireland have increased noticeably.
Value of Swedish imports of services from the UK, USA, Ireland and Germany in SEK million, years 2015-2025
It is important to note that respondents report their trade in services in Swedish kronor, regardless of the currency used for invoicing. This means that transactions carried out in foreign currencies may affect the statistics to varying degrees depending on how strong or weak the Swedish krona is relative to the foreign currency. A weak krona makes the same foreign currency amount larger when converted into kronor, while a strong krona makes the same amount smaller. A pure exchange rate effect may therefore appear in the statistics if the volume of trade remains unchanged, but the exchange rate shifts over time.
Revisions
The period 2024Q1 to 2025Q3 has been revised in accordance with the regular revision schedule. Revisions for each respective quarter is presented in the table below.
| 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 | 2025Q1 | 2025Q2 | 2025Q3 | |
|---|---|---|---|---|---|---|---|
| Exports | +6.3 bn | +7.1 bn | +7.3 bn | +11.6 bn | +1.5 bn | +2.5 bn | +599 mn |
| Imports | +3.9 bn | +6.9 bn | +244 mn | +7.5 bn | +829 mn | +8.3 bn | ‑9.1 bn |
| Total | +2.4 bn | +134 mn | +7 bn | +4.1 bn | +670 mn | ‑5.9 bn | +9.7 bn |
Foreign trade in services data are revised according to a regular schedule. In connection with the publication of quarter 1 to 3, the preceding quarter is revised. In connection with the publication of quarter 4, the seven previous quarters are revised. If necessary, revisions may also be made outside the regular schedule. Revisions are mainly due to late submissions or corrected information from respondents but may also result from changes in statistical models.
The data should be regarded as preliminary until it is 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
2026-06-03, 08:00.
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.