Swedish current account surplus narrows in Q2

The Swedish current account surplus declined to SEK38.8 billion in the second quarter from SEK77.6 billion recorded in the first quarter, the latest report from the Statistics Sweden showed Friday.

According to the statistical office, the decline in the current account surplus was due to the negative return on capital. The capital account showed a deficit of SEK0.9 billion in the second quarter, the same as in the first three months of the year. In the second quarter, the trade in goods fell to SEK 32.4 billion, while trade in services was up by SEK 5.2 billion over the previous year and totaled SEK27.4 billion. Meanwhile, the financial account surplus was at SEK12.7 billion in the second quarter compared to an SEK8.4 billion deficit in the previous quarter. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved