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Foreign trade in services Q2 2021

Foreign trade in services sees an upturn

Statistical news from Statistics Sweden 2021-09-03 9.30

Several types of services increased in the second quarter of 2021. The largest upturn was noted in travel, although levels remain low.

Service balance was strengthened

Foreign trade in services increased in the second quarter of 2021 compared with the same quarter a year ago. Exports of services rose by 11 percent and imports of services rose by 9 percent.

Sweden’s exports of services were valued at SEK 159 billion in the second quarter. Imports of services amounted to SEK 158 billion, which led to a net balance of SEK 1 billion. The net balance was strengthened compared with the same quarter a year ago, when the net balance was negative SEK 1 billion.

Travel increased but did not reach earlier levels

Travel (consumption abroad), which has been heavily affected by the COVID-19 pandemic, rose in the second quarter compared with the same quarter a year ago; export of travel rose by 47 percent and import rose by 104 percent. However, this service type remains at a significantly lower level than before the outbreak of the pandemic. Transport show the same pattern as travel, that is, increases in both exports and imports, but lower levels than before the pandemic. Exports of transport rose by 14 percent compared with the same quarter a year ago and imports rose by 8 percent in a corresponding comparison.

On the export side, charges for use of intellectual property rose by 12 percent, and telecommunication, computer and information services rose by 9 percent. Other business services (including research and development services, administrative services and marketing services) rose by 11 percent.

On the import side, charges for use of intellectual property fell by 6 percent. Telecommunication, computer and information services rose by 2 percent, and other business services rose by 9 percent.

Exports and imports, by service item Q2 2021
 ExportsImports
   Share in %Change in %  Share in %Change in %
 2021Q22020Q22021Q22021Q2/2020Q22021Q22020Q22021Q22021Q2/2020Q2
Total 158 931 143 596 100.0 10.7 157 980 144 465 100.0 9.4
Manufacturing services 2 886 2 998 1.8 ‑3.7 3 962 3 077 2.5 28.8
Maintenance and repair services 588 762 0.4 ‑22.8 1 172 879 0.7 33.3
Transport 18 480 16 249 11.6 13.7 19 922 18 498 12.6 7.7
Travel 8 938 6 099 5.6 46.5 13 575 6 650 8.6 104.1
Construction 1 219 1 126 0.8 8.3 2 816 3 189 1.8 ‑11.7
Insurance and pension services 1 634 2 657 1.0 ‑38.5 1 531 1 793 1.0 ‑14.6
Financial services 8 910 8 080 5.6 10.3 4 589 4 339 2.9 5.8
Charges for the use of intellectual property 21 674 19 446 13.6 11.5 21 582 23 035 13.7 ‑6.3
Telecommunications, computer, and information services 34 672 31 872 21.8 8.8 23 891 23 488 15.1 1.7
Other business services 44 945 40 381 28.3 11.3 61 116 56 262 38.7 8.6
Personal, cultural, and recreational services 13 874 12 682 8.7 9.4 3 235 2 680 2.0 20.7
Government goods and services 1 110 1 244 0.7 ‑10.8 590 571 0.4 3.3

Revisions

Quarter 1 2021 have been revised.

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 how trade in services in the National Accounts and the Balance of Payments sometimes differ from this statistic.

Next publishing will be

2021-12-06 09:30.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

The Riksbank

Producer

Foreign trade

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Solna strandväg 86
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Christian Surtin

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+46 10-479 46 86
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christian.surtin@scb.se

Joacim Bergman

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+46 10-479 44 19
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joacim.bergman@scb.se