Balance of Payments fourth quarter 2005
The current account showed a surplus of SEK 37.8 billion for Q4 2005, which is a decline of SEK 2.4 billion compared with the same period in 2004. Surpluses were noted on the trade balance, SEK 28.9 billion, services, SEK 17.5 billion and investment income, SEK 2.2 billion. Current transfers showed a deficit of SEK 10.8 billion. The annual figures for 2005 indicate a surplus on the current account amounting to SEK 162.6 billion. This corresponds to around 7 per cent of GDP. Compared with the previous year, the current account balance has deteriorated by SEK 13.5 billion. This can be largely explained by the net total for trade in goods and services declining by SEK 12 billion. Within this item, trade in goods and trade in services have developed in different directions. The surplus on trade in goods has declined by SEK 29.4 billion, while the surplus on trade in services has increased by SEK 17.5 billion. In connection with this publication, statistics on other services and public sector transfers regarding the years 1999 to 2002 have been revised. These changes are now included in the statistics available on the Riksbank’s website. Statistics Sweden will insert the corresponding revisions into the National Accounts at a later date. The purpose of the revisions is to even out the break in the time series that occurred in connection with the change of collection method at the end of 2002/beginning of 2003. Comparison studies of companies’ reporting prior to and after 2003 have resulted in the total net services figure for the years between 1999 and 2002 being revised upwards, while public sector transfers have been revised down in the same way. The total annual change in the current account is therefore moderate, which is indicated in the list below. Net effect on current account after revision, SEK million Other services -> 1999 1.4 SEK million 2000 2.8 SEK million 2001 4.3 SEK million 2002 5.7 SEK million Public sector transfers -> 1999 -2.5 SEK million 2000 -3.3 SEK million 2001 -3.6 SEK million 2002 -4.9 SEK million Current account total -> 1999 -1.1 SEK million 2000 -0.5 SEK million 2001 0.7 SEK million 2002 0.8 SEK million The current account for Q4 showed a deficit of SEK 4.5 billion towards the EU countries, while countries outside of the EU provided a surplus of SEK 42.2 billion. For the whole year 2005 the surplus on the current account was broken down into SEK 2.9 billion with regard to EU member states and SEK 159.7 billion with regard to countries outside of the EU.