Sweden's fashion industry is growing at record speed as export demand keeps booming, according to new figures from trade organisation Swedish Textile and Clothing Industries Association.

“Sweden has never exported as much fashion as during the first half of 2012,” CEO Ola Toftegaard said in a statement. ”The Swedish fashion industry as a whole is moving forward abroad despite the financial crisis. In other words, the unexpected development during the first quarter is continuing".

Up until May 31st this year Swedish fashion export had reached 5.1 billion kronor ($773 million) compared to 4.66 billion for the same period last year. June figures are also expected to be good. 

For example, Tiger of Sweden has reported all time high for the fiscal year 2011/2012, Björn Borg increases Q2 sales and is launching its first Chinese store, Atlas Design Group increases export sales by 15 percent during the first six months, Kriss i Länna increased export figures 6 percent and H&M plans to enter India with its collaboration with Beckham keeping the cheap 'n' chic brand high in the fashion stakes.