United Kingdom (GBR) and Sweden (SWE) Trade

2023

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Exports $6.14BRnk 19 / 223

2023

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About

United Kingdom-Sweden Trade: In 2023, United Kingdom exported $6.14B to Sweden. The main products that United Kingdom exported to Sweden were Crude Petroleum ($1.59B), Cars ($391M), and Stainless Steel Ingots ($324M). Over the past 5 years the exports of United Kingdom to Sweden have decreased at an annualized rate of 4.88%, from $7.89B in 2018 to $6.14B in 2023.

In 2019, United Kingdom exported services to Sweden worth $5.21B, with Other business services ($2.51B), Travel ($1.05B), and Financial services ($830M) being the largest in terms of value.

Sweden-United Kingdom Trade: In 2023, Sweden exported $10.1B to United Kingdom. The main products that Sweden exported to United Kingdom were Gold ($1.15B), Refined Petroleum ($860M), and Sawn Wood ($817M). Over the past 5 years the exports of Sweden to United Kingdom have increased at an annualized rate of 1.27%, from $9.49B in 2018 to $10.1B in 2023.

In 2020, Sweden exported services to United Kingdom worth $6.41B, with Other business services ($2.26B), Royalties and license fees ($1.58B), and Computer and information services ($1.13B) being the largest in terms of value.

Comparison: In 2023, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B).

Latest Trends

November, 2024

About

Overview In November 2024, United Kingdom exported £405M and imported £619M from Sweden, resulting in a negative trade balance of £214M. Between November 2023 and November 2024 the exports of United Kingdom have increased by £72.3M (21.7%) from £333M to £405M, while imports decreased by £-25.1M (-3.9%) from £644M to £619M.

Trade In November 2024, the top exports of United Kingdom to Sweden were Commodities not elsewhere specified (£30.3M), Stainless Steel Ingots (£27.4M), Motor vehicles; parts and accessories (8701... (£19.4M), Cars (£12.3M), and Engine Parts (£10.2M). In November 2024 the top imports of United Kingdom from Sweden were Refined Petroleum (£130M), Sawn Wood (£49.6M), Tractors (£45M), Gold (£35.2M), and Cars (£33.1M).

Origins In November 2024 the exports of United Kingdom were mainly from Immingham (£187M), Middlesbrough (£80.8M), Dover Eurotunnel (£31.6M), East Midlands Airport (£24.1M), and Hull (£12.1M), while imports destinations were mainly Immingham (£293M), London (£64.3M), Dover (£34.9M), East Midlands Airport (£29.4M), and Medway (£28.9M).

Growth In November 2024, the increase in United Kingdom's year-by-year exports to Sweden was explained primarily by an increase in product exports in Commodities not elsewhere specified (£15M or 97.8%), Acyclic Hydrocarbons (£7.63M or 277k%), and Machinery Having Individual Functions (£5.66M or 468%). In November 2024, the decrease in United Kingdom's year-by-year imports from Sweden was explained primarily by an decrease in product imports in Cars (£-9.96M or -23.1%), Iron Structures (£-3.25M or -72.3%), and Kaolin Coated Paper (£-3M or -20.3%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)£72.3M(21.7%)

IMPORT GROWTH (November 2023 - November 2024)£-25.1M(-3.9%)

MAIN EXPORTER (November 2024)Immingham£187M

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

To check Sweden and United Kingdom 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 2023, United Kingdom exported $6.14B to Sweden. The main products exported from United Kingdom to Sweden were Crude Petroleum ($1.59B), Cars ($391M), and Stainless Steel Ingots ($324M). During the last 5 years the exports of United Kingdom to Sweden have decreased at an annualized rate of 4.88%, from $7.89B in 2018 to $6.14B in 2023.

In 2018, Sweden exported $10.1B to United Kingdom. The main products exported from Sweden to United Kingdom were Gold ($1.15B), Refined Petroleum ($860M), and Sawn Wood ($817M). During the last 5 years the exports of Sweden to United Kingdom have increased at an annualized rate of 1.27%, from $9.49B in 2023 to $10.1B in 2018.

Exports from United Kingdom () to Sweden () (2023)

Exports from Sweden () to United Kingdom () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$59.7B

Sweden
Top DestinationGermany$18.4B

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

In 2023, countries that imported more from United Kingdom than Sweden included United States ($59.7B), Ireland ($29.1B), and China ($35.3B).

In 2023, countries that imported more from Sweden than United Kingdom included Denmark ($14.4B), Finland ($9.41B), and Norway ($10.9B).

Difference in imports from Sweden () and United Kingdom () (2023)

Comparative Advantage United Kingdom - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United Kingdom had a large net trade with Sweden in the exports of Mineral Products ($1.74B), Machines ($1.2B), and Transportation ($820M).

During 2018, Sweden had a large net trade with United Kingdom in the exports of Machines ($1.73B), Precious Metals ($1.36B), and Transportation ($1.33B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Sweden+$173MCars

Top Product Potential Sweden United Kingdom+$279MCars

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

Gbr Year

In 2019, United Kingdom exported services to Sweden worth $5.21B, with Other business services ($2.51B), Travel ($1.05B), and Financial services ($830M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Sweden () (2019)

Services Exports from Sweden () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Sweden () (2023)

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