Overview In 2020 Sweden was the number 22 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 32 in total imports, the number 13 economy in terms of GDP per capita (current US$) and the number 7 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Sweden are Cars ($11.1B), Packaged Medicaments ($9.29B), Refined Petroleum ($5.25B), Motor vehicles; parts and accessories (8701 to 8705) ($4.13B), and Broadcasting Equipment ($3.76B), exporting mostly to Germany ($15.9B), Norway ($14.2B), United States ($12.7B), Denmark ($11.6B), and Finland ($9.44B).

In 2020, Sweden was the world's biggest exporter of Motor vehicle (8701 to 8705) chassis fitted with engine ($455M), Iron Powder ($412M), and Polymer Ion-Exchangers ($297M)

Imports The top imports of Sweden are Cars ($8.46B), Crude Petroleum ($5.25B), Motor vehicles; parts and accessories (8701 to 8705) ($4.86B), Refined Petroleum ($4.38B), and Broadcasting Equipment ($4.05B), importing mostly from Germany ($25.2B), Netherlands ($11.6B), Denmark ($9.45B), Norway ($9.1B), and China ($9.02B).

In 2020, Sweden was the world's biggest importer of Wood Tar, Oils and Pitch ($46.6M), Other Slag and Ash ($43M), and Horsehair Yarn ($1.84M)

Location Sweden borders Finland and Norway by land and Denmark, Estonia, Germany, Latvia, Lithuania, Poland, and Russia by sea.

May, 2022

Historical Data

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Top Export (2020): Cars, $11.1B

Top Destination (2020): Germany, $25.2B

In 2020, Sweden exported a total of $152B, making it the number 32 exporter in the world. During the last five reported years the exports of Sweden have changed by $12.9B from $139B in 2015 to $152B in 2020.

The most recent exports are led by Cars ($11.1B), Packaged Medicaments ($9.29B), Refined Petroleum ($5.25B), Motor vehicles; parts and accessories (8701 to 8705) ($4.13B), and Broadcasting Equipment ($3.76B). The most common destination for the exports of Sweden are Germany ($15.9B), Norway ($14.2B), United States ($12.7B), Denmark ($11.6B), and Finland ($9.44B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Sweden Exports Services (2019): $5.31B

Sweden Imports Services (2019): $5.9B

In 2019, Sweden exported $5.31B worth of services. The top services exported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.52B), Other royalties and license fees ($779M), Personal travel ($521M), Audiovisual and related services ($411M), and Business travel ($347M).

The top services imported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.73B), Personal travel ($898M), Other royalties and license fees ($648M), Other transport ($467M), and Business travel ($461M).

Economic Complexity

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Most Specialized Products by RCA Index

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Sweden has a high level of specialization in Nuclear Reactors (23.5), Iron Powder (22.9), Motor vehicle (8701 to 8705) chassis fitted with engine (19.8), Newsprint (18.6), and Non-fillet Fresh Fish (17.9). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Sweden according to the relatedness index, are Cobalt Oxides and Hydroxides (0.35), Railway Freight Cars (0.34), Harvesting Machinery (0.34), Rapeseed Oil (0.34), and Sheet Music (0.34). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sweden is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Sweden. These are products that tend to be co-exported with the products that Sweden exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨1st to the 7th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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