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2022
Flag → Flag
Exports $1BRnk 28 / 217
2022
Flag → Flag
Top Product $220MPackaged Medicaments
2022
Flag → Flag
Exports $702MRnk 52 / 138
2022
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Top Product $179MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 1.49Rnk 9 / 133
2022
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Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
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GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
Rnk 151 / 186
2022
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 GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
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GDP PC $55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 186
2022
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GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Sweden-Russia Trade: In 2022, Sweden exported $1B to Russia. The main products that Sweden exported to Russia were Packaged Medicaments ($220M), Nitrogen Heterocyclic Compounds ($136M), and Oxygen Heterocyclic Compounds ($112M). Over the past 5 years the exports of Sweden to Russia have decreased at an annualized rate of 15.3%, from $2.31B in 2017 to $1B in 2022.

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.

Russia-Sweden Trade: In 2022, Russia exported $702M to Sweden. The main products that Russia exported to Sweden were Crude Petroleum ($179M), Coal Tar Oil ($128M), and Refined Petroleum ($63.2M). Over the past 5 years the exports of Russia to Sweden have decreased at an annualized rate of 20.9%,  from $2.27B in 2017 to $702M in 2022.

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.

Comparison: In 2022,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Latest Trends

July, 2024

About

Overview In July 2024, Sweden exported SEK1.57B and imported SEK28.8M from Russia, resulting in a positive trade balance of SEK1.54B. Between July 2023 and July 2024 the exports of Sweden have increased by SEK548M (53.7%) from SEK1.02B to SEK1.57B, while imports increased by SEK4.04M (16.3%) from SEK24.7M to SEK28.8M.

Trade In July 2024, the top exports of Sweden to Russia were Nitrogen Heterocyclic Compounds (SEK868M), Packaged Medicaments (SEK117M), Vaccines, blood, antisera, toxins and cultures (SEK99.8M), Unpackaged Medicaments (SEK50.1M), and Plastic Lids (SEK12M). In July 2024 the top imports of Sweden from Russia were Petroleum Gas (SEK60.8M), Commodities not elsewhere specified (SEK1.38M), Ferroalloys (SEK842k), Motor vehicles; parts and accessories (8701... (SEK542k), and Microphones and Headphones (SEK137k).

Growth In July 2024, the increase in Sweden's year-by-year exports to Russia was explained primarily by an increase in product exports in Nitrogen Heterocyclic Compounds (SEK868M or 86.8M%), Packaged Medicaments (SEK47.2M or 68%), and Unpackaged Medicaments (SEK32.7M or 188%). In July 2024, the increase in Sweden's year-by-year imports  from Russia was explained primarily by an increase in product imports  in Commodities not elsewhere specified (SEK1.09M or 372%), Motor vehicles; parts and accessories (8701... (SEK494k or 1.03k%), and Other Edible Preparations (SEK67k or 248%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)SEK548M(53.7%)
IMPORT GROWTH (July 2023 - July 2024)SEK4.04M(16.3%)

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 Russia and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Sweden exported $1B to Russia. The main products exported from Sweden to Russia were Packaged Medicaments ($220M), Nitrogen Heterocyclic Compounds ($136M), and Oxygen Heterocyclic Compounds ($112M). During the last 5 years the exports of Sweden to Russia have decreased at an annualized rate of 15.3%, from $2.31B in 2017 to $1B in 2022.

In 2017, Russia exported $702M to Sweden. The main products exported from Russia to Sweden were Crude Petroleum ($179M), Coal Tar Oil ($128M), and Refined Petroleum ($63.2M). During the last 5 years the exports of Russia to Sweden have decreased at an annualized rate of 20.9%, from $2.27B in 2022 to $702M in 2017.

Exports from Sweden (Flag) to Russia (Flag) (2022)

Exports from Russia (Flag) to Sweden (Flag) (2022)

Market Competitiveness

Color
Sweden
Top DestinationGermany$19.2B
Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Sweden than Russia included Norway ($18.7B), Denmark ($14.6B), and Finland ($13.4B).

In 2022, countries that imported more from Russia than Sweden included China ($101B), India ($40.4B), and Turkey ($25.3B).

Difference in imports from Russia (Flag) and Sweden (Flag) (2022)

Comparative Advantage Sweden - Russia

Flow
Scale

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

During 2022, Sweden had a large net trade with Russia in the exports of Chemical Products ($602M), Machines ($200M), and Transportation ($47.3M).

During 2017, Russia had a large net trade with Sweden in the exports of Mineral Products ($440M), Metals ($95.2M), and Chemical Products ($73.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Russia+$135MPackaged Medicaments
Top Product Potential Russia Sweden+$286MCrude Petroleum

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

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.

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Sweden (Flag) and Russia (Flag) (2022)

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