Norway no longer Sweden's largest export market

Norway is no longer Sweden's largest export market, according to new figures from Statistics Sweden. Instead, the largest export market so far in 2015 is Germany. 

Last year Sweden exported goods to neighbouring Norway for a total of SEK 118 billion, six billion krona more than to Germany. But so far this year, Germany is in the lead with 50 billion to Norway's 49 billion, news agency TT reports.

Mauro Gozzo, Chief Economist at Business Sweden, believes that the falling oil prices are beginning to affect Norway's economy, and that it could be one contributing factor to the slightly lower export.

"The dropping oil price has caused a slightly weaker economic growth in Norway and has spread a sense of financial gloom with the Norwegian households", says Gozzo.