Foreign trade in services Q3 2021
Foreign trade in services continued to recover
Statistical news from Statistics Sweden 2021-12-06 9.30
The recovery of foreign trade in services was strengthened in the third quarter of 2021. As in the second quarter, the largest increase was noted in travel. However, consumption abroad has not yet returned to pre-pandemic levels.
Foreign trade in services increased
Foreign trade in services continued to grow broadly in the third quarter of 2021. Exports of services rose by 14 percent and imports of services rose by 22 percent, compared with the corresponding quarter a year ago.
Sweden’s exports of services were valued at SEK 168 billion in the third quarter of 2021. Imports of services amounted to SEK 176 billion. The large increase in imports led to a negative net balance of SEK 8.5 billion. The corresponding figure for the same quarter a year ago was positive and amounted to SEK 1.9 billion.
Travel increased significantly
The tight grip of the COVID-19 pandemic on the travel industry eased significantly in the third quarter of 2021. Compared with the corresponding quarter last year, travel exports, that is, consumption abroad, increased by 81 percent and imports increased by 83 percent. Despite this, consumption abroad has not yet returned to pre-pandemic levels.
On the export side, charges for use of intellectual property rose by 7 percent. Telecommunication, computer and information services increased by 10 percent. Other business services, including research and development services, administrative services and marketing services, rose by 5 percent. Transports increased by 26 percent.
On the import side, charges for use of intellectual property rose by 30 percent. Telecommunication, computer and information services increased by 11 percent and other business services rose by 12 percent. Transports increased by 17 percent.
| Exports | Imports | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Service item | Share in % | Change in % | Share in % | Change in % | |||||
| 2021Q3 | 2020Q3 | 2021Q3 | 2021Q3/2020Q3 | 2021Q3 | 2020Q3 | 2021Q3 | 2021Q3/2020Q3 | ||
| Total | 167 755 | 146 969 | 100.0 | 14.1 | 176 298 | 145 020 | 100.0 | 21.6 | |
| Manufacturing services | 2 607 | 2 458 | 1.6 | 6.1 | 3 018 | 3 102 | 1.7 | ‑2.7 | |
| Maintenance and repair services | 494 | 646 | 0.3 | ‑23.5 | 1 030 | 778 | 0.6 | 32.4 | |
| Transport | 20 277 | 16 072 | 12.1 | 26.2 | 21 264 | 18 256 | 12.1 | 16.5 | |
| Travel | 19 120 | 10 573 | 11.4 | 80.8 | 26 329 | 14 399 | 14.9 | 82.9 | |
| Construction | 1 098 | 1 286 | 0.7 | ‑14.6 | 2 836 | 2 942 | 1.6 | ‑3.6 | |
| Insurance and pension services | 1 624 | 1 483 | 1.0 | 9.5 | 1 333 | 1 098 | 0.8 | 21.4 | |
| Financial services | 9 001 | 8 334 | 5.4 | 8.0 | 4 436 | 3 890 | 2.5 | 14.0 | |
| Charges for the use of intellectual property | 17 935 | 16 736 | 10.7 | 7.2 | 25 635 | 19 661 | 14.5 | 30.4 | |
| Telecommunications, computer, and information services | 34 385 | 31 285 | 20.5 | 9.9 | 25 207 | 22 669 | 14.3 | 11.2 | |
| Other business services | 45 484 | 43 512 | 27.1 | 4.5 | 61 181 | 54 695 | 34.7 | 11.9 | |
| Personal, cultural, and recreational services | 14 647 | 13 364 | 8.7 | 9.6 | 3 434 | 2 966 | 1.9 | 15.8 | |
| Government goods and services | 1 082 | 1 220 | 0.6 | ‑11.3 | 594 | 564 | 0.3 | 5.3 | |
Revisions
Quarter 2 2021 has 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
2022-03-03 08:00.
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.