Swedish current account surplus decreased to SEK 38.6 billion in the third quarter of 2018 from SEK 40.8 billion in the corresponding period of the previous year. The services surplus narrowed to SEK 3 billion from SEK 6 billion a year earlier, mainly due to lower sales of the use of intellectual property rights and travel. Also, secondary income resulted in a loss of SEK 20 billion, compared to a deficit of almost SEK 17 billion in the corresponding quarter of the previous year. On the other hand, the goods surplus increased to SEK 19 billion from SEK 2 billion; the primary income surplus went up to SEK 37 billion from SEK 32 billion, mainly due to the return on portfolio investments. Salaries generated a surplus of just over SEK 1 billion, while the return on capital yielded a surplus of SEK 36 billion. Current Account in Sweden averaged 24.34 SEK Billion from 1982 until 2018, reaching an all time high of 82.30 SEK Billion in the first quarter of 2008 and a record low of -15.90 SEK Billion in the third quarter of 1990.
Current Account in Sweden is expected to be 19.83 SEK Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Sweden to stand at 18.96 in 12 months time. In the long-term, the Sweden Current Account is projected to trend around 11.24 SEK Billion in 2020, according to our econometric models.