About

Overview In 2021, Sweden was the number 22 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 31 in total imports, the number 16 economy in terms of GDP per capita (current US$) and the number 8 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Sweden are Cars ($12.3B), Refined Petroleum ($8.8B), Packaged Medicaments ($8.23B), Sawn Wood ($5.2B), and Motor vehicles; parts and accessories (8701 to 8705) ($5.08B), exporting mostly to Germany ($19.1B), Norway ($17.4B), United States ($15.2B), Denmark ($14.5B), and Finland ($11.9B).

In 2021, Sweden was the world's biggest exporter of Iron Powder ($590M) and Polymer Ion-Exchangers ($461M)

Imports The top imports of Sweden are Cars ($9.6B), Crude Petroleum ($8.34B), Motor vehicles; parts and accessories (8701 to 8705) ($5.74B), Refined Petroleum ($5.32B), and Broadcasting Equipment ($5.28B), importing mostly from Germany ($30.6B), Netherlands ($15.2B), Norway ($13.7B), China ($12.4B), and Denmark ($11.9B).

In 2021, Sweden was the world's biggest importer of Wood Tar, Oils and Pitch ($66M) and Horsehair Yarn ($2.7M)

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

Latest Trends

October, 2023

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Cars$12.3B
Top Destination (2021)Germany$19.1B

In 2021, Sweden exported a total of $185B, making it the number 32 exporter in the world. During the last five reported years the exports of Sweden have changed by $46.4B from $138B in 2016 to $185B in 2021.

The most recent exports are led by Cars ($12.3B), Refined Petroleum ($8.8B), Packaged Medicaments ($8.23B), Sawn Wood ($5.2B), and Motor vehicles; parts and accessories (8701 to 8705) ($5.08B). The most common destination for the exports of Sweden are Germany ($19.1B), Norway ($17.4B), United States ($15.2B), Denmark ($14.5B), and Finland ($11.9B).

Explore Visualizations

Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
Norway$3.16B (+ 22.2%)
Germany$3.15B (+ 19.8%)
Denmark$2.92B (+ 25.1%)
Fastest Growing Import Markets (2020 - 2021)
Germany$5.3B (+ 21%)
Norway$4.48B (+ 48.7%)
Netherlands$3.59B (+ 30.8%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Sweden Exports Services (2020)$49.9B
Sweden Imports Services (2020)$54.3B

In 2020, Sweden exported $49.9B worth of services. The top services exported by Sweden in 2020 were Miscellaneous business, professional, and technical services ($15B), Other royalties and license fees ($8.39B), Audiovisual and related services ($5.44B), Other transport ($3.36B), and Financial services ($2.72B).

The top services imported by Sweden in 2020 were Miscellaneous business, professional, and technical services ($20.2B), Other royalties and license fees ($9.2B), Other transport ($4.83B), Personal travel ($4.09B), and Sea transport ($2.49B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.54Rank 8 of 131
Economic Complexity (Technology)1.56Rank 1 of 96
Economic Complexity (Research)1.92Rank 7 of 140

Most Specialized Products by RCA Index

Sweden has a high level of specialization in Iron Powder (24.2), Polymer Ion-Exchangers (22.9), Nuclear Reactors (22.2), Newsprint (17.9), and Non-fillet Fresh Fish (16.9). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Sweden according to the relatedness index, were Rapeseed Oil (0.34), Coin (0.34), Harvesting Machinery (0.34), Other Printed Material (0.33), and Orthopedic Appliances (0.33). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sweden is not specialized in.

Product Space

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

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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Depth

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

Methodology
Scale

During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨4th to the 8th⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

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