Canada (CAN) and Sweden (SWE) Trade

2022

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Exports $581MRnk 40 / 215

2022

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About

Canada-Sweden Trade: In 2022, Canada exported $581M to Sweden. The main products that Canada exported to Sweden were Raw Nickel ($94.5M), Coal Briquettes ($77.7M), and Copper Ore ($45.7M). Over the past 5 years the exports of Canada to Sweden have increased at an annualized rate of 13.4%, from $310M in 2017 to $581M in 2022.

In 2020, Canada exported services to Sweden worth $111M, with Royalties and license fees ($47M), Transportation ($27.6M), and Travel ($18.6M) being the largest in terms of value.

Sweden-Canada Trade: In 2022, Sweden exported $1.44B to Canada. The main products that Sweden exported to Canada were Packaged Medicaments ($290M), Silver ($119M), and Cars ($103M). Over the past 5 years the exports of Sweden to Canada have increased at an annualized rate of 7.35%, from $1.01B in 2017 to $1.44B in 2022.

In 2020, Sweden exported services to Canada worth $1.19B, with Personal, cultural, and recreational services ($778M), Computer and information services ($156M), and Other business services ($122M) being the largest in terms of value.

Comparison: In 2022, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Latest Trends

April, 2024

About

Overview In April 2024, Canada exported C$35.3M and imported C$378M from Sweden, resulting in a negative trade balance of C$343M. Between April 2023 and April 2024 the exports of Canada have increased by C$7.63M (27.6%) from C$27.6M to C$35.3M, while imports increased by C$89.1M (30.8%) from C$289M to C$378M.

Trade In April 2024, the top exports of Canada to Sweden were Refined Copper (C$32.8M), Raw Nickel (C$14.1M), Integrated Circuits (C$5.53M), Gold (C$3.62M), and Planes, Helicopters, and/or Spacecraft (C$3.08M). In April 2024 the top imports of Canada from Sweden were Packaged Medicaments (C$99.8M), Silver (C$18.7M), Reaction and Catalytic Products (C$14.1M), Other Electrical Machinery (C$11.2M), and Cars (C$10.6M).

Origins In April 2024 the exports of Canada were mainly from Quebec (C$12.9M), Ontario (C$7.78M), Manitoba (C$5.35M), Newfoundland Labrador (C$3.54M), and Nova Scotia (C$2.01M), while imports destinations were mainly Quebec (C$157M), Ontario (C$118M), Nova Scotia (C$41.2M), New Brunswick (C$22.3M), and British Columbia (C$22.3M).

Growth In April 2024, the increase in Canada's year-by-year exports to Sweden was explained primarily by an increase in product exports in Raw Nickel (C$11.7M or 485%), Electrical Control Boards (C$390k or 682%), and Lifting Machinery (C$302k or 7.69k%). In April 2024, the increase in Canada's year-by-year imports from Sweden was explained primarily by an increase in product imports in Packaged Medicaments (C$70M or 235%), Reaction and Catalytic Products (C$14.1M or 16.6M%), and Other Electrical Machinery (C$11.1M or 8.25k%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)C$7.63M(27.6%)

IMPORT GROWTH (April 2023 - April 2024)C$89.1M(30.8%)

MAIN EXPORTER (April 2024)QuebecC$12.9M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Sweden and Canada trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Canada exported $581M to Sweden. The main products exported from Canada to Sweden were Raw Nickel ($94.5M), Coal Briquettes ($77.7M), and Copper Ore ($45.7M). During the last 5 years the exports of Canada to Sweden have increased at an annualized rate of 13.4%, from $310M in 2017 to $581M in 2022.

In 2017, Sweden exported $1.44B to Canada. The main products exported from Sweden to Canada were Packaged Medicaments ($290M), Silver ($119M), and Cars ($103M). During the last 22 years the exports of Sweden to Canada have increased at an annualized rate of 7.35%, from $1.01B in 1995 to $1.44B in 2017.

Exports from Canada () to Sweden () (2022)

Exports from Sweden () to Canada () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$438B

Sweden
Top DestinationGermany$19.2B

This map shows whether countries import more from Canada or Sweden. Each country is colored based on the difference in imports they receive from Canada and Sweden or the difference in the growth in imports.

In 2022, countries that imported more from Canada than Sweden included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Sweden than Canada included Norway ($18.7B), Denmark ($14.6B), and Germany ($19.2B).

Difference in imports from Sweden () and Canada () (2022)

Comparative Advantage Canada - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Canada and Sweden by product, considering products traded by both, Canada and Sweden.

During 2022, Canada had a large net trade with Sweden in the exports of Machines ($136M), Mineral Products ($131M), and Metals ($128M).

During 2017, Sweden had a large net trade with Canada in the exports of Machines ($630M), Chemical Products ($405M), and Metals ($190M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Canada Sweden+$34.4MCars

Top Product Potential Sweden Canada+$109MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Swe Year

Can Year

In 2020, Canada exported services to Sweden worth $111M, with Royalties and license fees ($47M), Transportation ($27.6M), and Travel ($18.6M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Sweden () (2020)

Services Exports from Sweden () to Canada () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Canada and Sweden. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Sweden. Similarly, a dot/product with the flag of Sweden indicates it has a comparative advantage over Canada.

Product Space of Canada () and Sweden () (2022)

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