Overview In 2019 Sweden was the number 24 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 31 in total imports, the number 14 economy in terms of GDP per capita (current US$) and the number 8 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Sweden are Cars ($11.8B), Packaged Medicaments ($8.04B), Refined Petroleum ($7.56B), Vehicle Parts ($5.22B), and Broadcasting Equipment ($3.89B), exporting mostly to Germany ($16.4B), Norway ($14.8B), United States ($12.5B), Denmark ($11.1B), and Finland ($10B).

In 2019, Sweden was the world's biggest exporter of Vehicle Chassis ($611M) and Iron Powder ($423M)

Imports The top imports of Sweden are Cars ($8.75B), Crude Petroleum ($6.93B), Refined Petroleum ($6.32B), Vehicle Parts ($5.77B), and Broadcasting Equipment ($4.87B), importing mostly from Germany ($27.2B), Netherlands ($13.1B), Denmark ($10.3B), Norway ($10.1B), and China ($8.4B).

In 2019, Sweden was the world's biggest importer of Stainless Steel Ingots ($302M), Wood Tar, Oils and Pitch ($57.9M), and Horsehair Yarn ($1.86M)

Location Sweden borders Finland and Norway by land and Denmark, Estonia, Germany, Latvia, Lithuania, Poland, and Russia by sea.

June, 2021

Historical Data

#permalink to section

Yearly Exports

#permalink to section
Value
Compare to
Depth

Top Export (2019): Cars, $11.8B

Top Destination (2019): Germany, $16.4B

In 2019, Sweden exported a total of $158B, making it the number 32 exporter in the world. During the last five reported years the exports of Sweden have changed by -$6.6B from $164B in 2014 to $158B in 2019.

The most recent exports are led by Cars ($11.8B), Packaged Medicaments ($8.04B), Refined Petroleum ($7.56B), Vehicle Parts ($5.22B), and Broadcasting Equipment ($3.89B). The most common destination for the exports of Sweden are Germany ($16.4B), Norway ($14.8B), United States ($12.5B), Denmark ($11.1B), and Finland ($10B).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Compare to
Depth

Top Import (2019): Cars, $8.75B

Top Origin (2019): Germany, $27.2B

In 2019 Sweden imported $151B, making it the number 31 trade destination in the world. During the last five reported years the imports of Sweden changed by -$3.65B from $154B in 2014 to $151B in 2019.

The most recent imports of Sweden are led by Cars ($8.75B), Crude Petroleum ($6.93B), Refined Petroleum ($6.32B), Vehicle Parts ($5.77B), and Broadcasting Equipment ($4.87B). The most common import partners for Sweden are Germany ($27.2B), Netherlands ($13.1B), Denmark ($10.3B), Norway ($10.1B), and China ($8.4B).

Explore Visualizations

Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Sweden Exports Services (2019): $5.31B

Sweden Imports Services (2019): $5.9B

In 2019, Sweden exported $5.31B worth of services. The top services exported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.52B), Other royalties and license fees ($779M), Personal travel ($521M), Audiovisual and related services ($411M), and Business travel ($347M).

The top services imported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.73B), Personal travel ($898M), Other royalties and license fees ($648M), Other transport ($467M), and Business travel ($461M).

Tariffs by Product

#permalink to section

The top product import tariffs by their MFN Ad Valorem value for Sweden are Sugar beet (178%) and Whey (173%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Sweden are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Sweden has a high level of specialization in Nuclear Reactors (23.5), Iron Powder (21.4), Vehicle Chassis (20.6), Polymer Ion-Exchangers (17.4), and Newsprint (17.3). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Sweden according to the product complexity index (PCI) are Machines nes having individual functions (2.05), Tool plates, tips, etc, sintered metal carbide, cermet (2.03), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.81), Interchangeable tools and dies for hand or power tools (1.79), and Bar or rod of stainless steel, hot rolled, coiled (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Sweden according to the relatedness index, are Insulating Glass (0.33), Harvesting Machinery (0.33), Newspapers (0.32), Special Pharmaceuticals (0.32), and X-Ray Equipment (0.32). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sweden is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

#permalink to section

This network shows the products most related to the production structure of Sweden. These are products that tend to be co-exported with the products that Sweden exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨3rd to the 8th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings