Russia (RUS) and Sweden (SWE) Trade

2023

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Exports $46.3MRnk 91 / 137

2023

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About

Russia-Sweden Trade: In 2023, Russia exported $46.3M to Sweden. The main products that Russia exported to Sweden were Petroleum Gas ($36.8M), Scrap Aluminium ($4.64M), and Other Isotopes ($2.2M). Over the past 5 years the exports of Russia to Sweden have decreased at an annualized rate of 61.3%, from $5.34B in 2018 to $46.3M in 2023.

In 2020, Russia exported services to Sweden worth $277M, with Other business services ($134M), Transportation ($61.6M), and Computer and information services ($33.5M) being the largest in terms of value.

Sweden-Russia Trade: In 2023, Sweden exported $891M to Russia. The main products that Sweden exported to Russia were Vaccines, blood, antisera, toxins and cultures ($236M), Packaged Medicaments ($220M), and Nitrogen Heterocyclic Compounds ($183M). Over the past 5 years the exports of Sweden to Russia have decreased at an annualized rate of 17.9%, from $2.38B in 2018 to $891M in 2023.

In 2020, Sweden exported services to Russia worth $732M, with Other business services ($303M), Computer and information services ($179M), and Personal, cultural, and recreational services ($77.4M) being the largest in terms of value.

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $33.3M and imported $178M from Sweden, resulting in a negative trade balance of $145M. Between January 2021 and January 2022 the exports of Russia have increased by $1.18M (3.69%) from $32.1M to $33.3M, while imports increased by $46.8M (35.6%) from $132M to $178M.

Trade In January 2022, the top exports of Russia to Sweden were Refined Petroleum ($16.6M), Rubber Tires ($2.63M), Other Vegetable Residues ($1.31M), Coal Briquettes ($1.3M), and Plywood ($920k). In January 2022 the top imports of Russia from Sweden were Motor vehicles; parts and accessories (8701... ($9.67M), Delivery Trucks ($7.86M), Other Construction Vehicles ($5.91M), Tractors ($4.92M), and Packaged Medicaments ($4.83M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($4.98M), KALININGRAD REGION ($3.98M), PERM TERRITORY ($2.43M), SVERDLOVSK REGION ($2.38M), and VOLOGDA REGION ($2.02M), while imports destinations were mainly MOSCOW REGION ($55.9M), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($51.9M), ST. PETERSBURG ($18.3M), KALUGA REGION ($17.5M), and VORONEZH REGION ($4.87M).

Growth In January 2022, the increase in Russia's year-by-year exports to Sweden was explained primarily by an increase in product exports in Particle Board ($698k or 673%), Ferroalloys ($568k or 1.07k%), and Steel Wire ($318k or 968%). In January 2022, the increase in Russia's year-by-year imports from Sweden was explained primarily by an increase in product imports in Delivery Trucks ($5.9M or 299%), Nucleic Acids ($4.38M or 878k%), and Tractors ($3.76M or 322%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$1.18M(3.69%)

IMPORT GROWTH (January 2021 - January 2022)$46.8M(35.6%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$4.98M

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

To check Sweden and Russia 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, Russia exported $46.3M to Sweden. The main products exported from Russia to Sweden were Petroleum Gas ($36.8M), Scrap Aluminium ($4.64M), and Other Isotopes ($2.2M). During the last 5 years the exports of Russia to Sweden have decreased at an annualized rate of 61.3%, from $5.34B in 2018 to $46.3M in 2023.

In 2018, Sweden exported $891M to Russia. The main products exported from Sweden to Russia were Vaccines, blood, antisera, toxins and cultures ($236M), Packaged Medicaments ($220M), and Nitrogen Heterocyclic Compounds ($183M). During the last 5 years the exports of Sweden to Russia have decreased at an annualized rate of 17.9%, from $2.38B in 2023 to $891M in 2018.

Exports from Russia () to Sweden () (2023)

Exports from Sweden () to Russia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

Sweden
Top DestinationGermany$18.4B

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

In 2023, countries that imported more from Russia than Sweden included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Sweden than Russia included Germany ($18.4B), Denmark ($14.4B), and United States ($18.1B).

Difference in imports from Sweden () and Russia () (2023)

Comparative Advantage Russia - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Russia had a large net trade with Sweden in the exports of Mineral Products ($36.8M), Metals ($5.6M), and Chemical Products ($2.49M).

During 2018, Sweden had a large net trade with Russia in the exports of Chemical Products ($844M), Machines ($30.6M), and Plastics and Rubbers ($9.04M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Sweden+$286MCrude Petroleum

Top Product Potential Sweden Russia+$135MPackaged Medicaments

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

Rus Year

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and Sweden () (2023)

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