Record trade at Easter boosted cross-border trade

This year’s Easter trade was a full 30 per cent above last year’s, writes DNB in ​​a press release.

– Through 2023, the trend clearly pointed towards stabilization of cross-border trade at a new and lower level than before. An earlier Easter than last year, with a record high card use, nevertheless lifted cross-border trade in the first quarter of the year, DNB states.

Norwegians still shop less at the border than before the pandemic. DNB still considers it a strong result given the trend development in the wake of the pandemic. According to DNB’s figures, the number of day trips to Sweden rose by 14 per cent from last year, and around NOK 2.5 billion were traded in the first quarter.

The nominal amount in the first quarter is higher than in 2019, but when adjusted for price growth and currency fluctuations, cross-border traders are left with fewer goods for the money in 2024.

– When we take into account currency fluctuations and price increases in Sweden, Norwegians came home with a shopping basket that has shrunk by 4.5 per cent since the same period in 2023, despite increased spending, points out director of data transformation at DNB, Ine Oftedahl.

According to figures from the Swedish Statistics Agency, price growth in Sweden, like Norway, has slowed somewhat in the first quarter. In March, food prices were reduced by 0.7 per cent in Sweden, and this is the first time since 2021.

– Although there is good news for those making the trip over to Sweden, it is important to remember that the percentage increase in food prices has been higher in Sweden than in Norway recently, Oftedahl explains.