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2023
Flag → Flag
Exports $408MRnk 51 / 216
2023
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Top Product $28.6MPackaged Medicaments
2023
Flag → Flag
Exports $39.6MRnk 23 / 157
2023
Flag → Flag
Top Product $8.78MFish Fillets
2023
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Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
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GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
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GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
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 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
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GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
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GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
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GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
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GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Sweden-Iceland Trade: In 2023, Sweden exported $408M to Iceland. The main products that Sweden exported to Iceland were Packaged Medicaments ($28.6M), Fluorides ($14.9M), and Cars ($14.8M). Over the past 5 years the exports of Sweden to Iceland have increased at an annualized rate of 4.03%, from $335M in 2018 to $408M in 2023.

In 2020, Sweden exported services to Iceland worth $85.9M, with Personal, cultural, and recreational services ($21.2M), Other business services ($20.2M), and Transportation ($14.8M) being the largest in terms of value.

Iceland-Sweden Trade: In 2023, Iceland exported $39.6M to Sweden. The main products that Iceland exported to Sweden were Fish Fillets ($8.78M), Dried/Salted/Smoked/Brined Fish ($5.19M), and Pumice ($2.62M). Over the past 5 years the exports of Iceland to Sweden have increased at an annualized rate of 6.5%,  from $28.9M in 2018 to $39.6M in 2023.

In 2019, Iceland exported services to Sweden worth $122M, with Transportation ($48.5M), Travel ($45.6M), and Computer and information services ($12.1M) being the largest in terms of value.

Comparison In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53),  and 32 in total exports ($188B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK491M and imported SEK50.7M from Iceland, resulting in a positive trade balance of SEK440M. Between October 2023 and October 2024 the exports of Sweden have decreased by SEK-26.2M (-5.06%) from SEK517M to SEK491M, while imports increased by SEK16.4M (47.9%) from SEK34.3M to SEK50.7M.

Trade In October 2024, the top exports of Sweden to Iceland were Cars (SEK40.8M), Petroleum Coke (SEK31.7M), Video Displays (SEK13.8M), Delivery Trucks (SEK12.8M), and Packaged Medicaments (SEK12.8M). In October 2024 the top imports of Sweden from Iceland were Fish Fillets (SEK7.25M), Fish Oil (SEK3.33M), Non-fillet Frozen Fish (SEK3.33M), Non-fillet Fresh Fish (SEK3.05M), and Scrap Plastic (SEK1.02M).

Growth In October 2024, the decrease in Sweden's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Aluminium Cans (SEK-6.09M or -80%), Video Displays (SEK-6.03M or -30.4%), and Sawn Wood (SEK-5.18M or -74.4%). In October 2024, the increase in Sweden's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Non-fillet Fresh Fish (SEK2.27M or 291%), Fish Fillets (SEK1.99M or 37.7%), and Fish Oil (SEK1.25M or 60%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK-26.2M(-5.06%)
IMPORT GROWTH (October 2023 - October 2024)SEK16.4M(47.9%)

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

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

For full datasets download visit Bulk Download page.

Explore Iceland and Sweden Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $408M to Iceland. The main products exported from Sweden to Iceland were Packaged Medicaments ($28.6M), Fluorides ($14.9M), and Cars ($14.8M). During the last 5 years the exports of Sweden to Iceland have increased at an annualized rate of 4.03%, from $335M in 2018 to $408M in 2023.

In 2018, Iceland exported $39.6M to Sweden. The main products exported from Iceland to Sweden were Fish Fillets ($8.78M), Dried/Salted/Smoked/Brined Fish ($5.19M), and Pumice ($2.62M). During the last 5 years the exports of Iceland to Sweden have increased at an annualized rate of 6.5%, from $28.9M in 2023 to $39.6M in 2018.

Exports from Sweden (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to Sweden (Flag) (2023)

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Iceland
Top DestinationNetherlands$1.97B

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

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

In 2023, countries that imported more from Iceland than Sweden included Belarus ($34.6M), Bahamas ($25M), and Antigua and Barbuda ($9.7M).

Difference in imports from Iceland (Flag) and Sweden (Flag) (2023)

Comparative Advantage Sweden - Iceland

Flow
Scale

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

During 2023, Sweden had a large net trade with Iceland in the exports of Machines ($96M), Chemical Products ($64.1M), and Transportation ($54.6M).

During 2018, Iceland had a large net trade with Sweden in the exports of Animal Products ($17.5M), Animal and Vegetable Bi-Products ($4.88M), and Mineral Products ($2.98M).

Bilateral Service Trade

In 2020, Sweden exported services to Iceland worth $85.9M, with Personal, cultural, and recreational services ($21.2M), Other business services ($20.2M), and Transportation ($14.8M) being the largest in terms of value.

In 2019, Iceland exported services to Sweden worth $122M, with Transportation ($48.5M), Travel ($45.6M), and Computer and information services ($12.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Sweden (Flag) to Iceland (Flag) (2020)

Services Exports from Iceland (Flag) to Sweden (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Sweden (Flag) and Iceland (Flag) (2023)

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