NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Economic Complexity
Trade 1.53Rank 9 of 132
2021
Economic Complexity
Technology 1.56Rank 1 of 96
2022
Economic Complexity
Research 2.04Rank 6 of 140
2023
Product
Exports | Imports $188B | $178B32 of 226 |  32 of 226
2023
Per Capita Product
Exports | Imports $17.9k | $16.9k22 of 220 |  16 of 220

About

Overview In 2023, Sweden was the number 24 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 32 in total imports, the number 19 economy in terms of GDP per capita (current US$) and the number 9 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Sweden are Cars ($14.4B), Refined Petroleum ($10B), Packaged Medicaments ($9.14B), Vaccines, blood, antisera, toxins and cultures ($5.94B), and Motor vehicles; parts and accessories (8701 to 8705) ($5.87B), exporting mostly to Germany ($18.4B), United States ($18.1B), Denmark ($14.4B), Norway ($10.9B), and Netherlands ($10.2B).

In 2023, Sweden was the world's biggest exporter of Iron Powder ($474M), Polymer Ion-Exchangers ($463M), and Motor vehicle (8701 to 8705) chassis fitted with engine ($430M)

Imports The top imports of Sweden are Cars ($11.3B), Crude Petroleum ($11.2B), Refined Petroleum ($7.19B), Motor vehicles; parts and accessories (8701 to 8705) ($6.48B), and Computers ($4.51B), importing mostly from Germany ($29.6B), Netherlands ($17.6B), Norway ($15.9B), Denmark ($11.2B), and China ($10.8B).

In 2023, Sweden was the world's biggest importer of Wood Tar, Oils and Pitch ($76.4M) and Horsehair Yarn ($1.27M)

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

Latest Trends

October, 2024

About

Overview In October 2024 Sweden exported SEK164B and imported SEK163B, resulting in a positive trade balance of SEK946M. Between October 2023 and October 2024 the exports of Sweden have decreased by SEK-9.39B (-5.43%) from SEK173B to SEK164B, while imports decreased by SEK-4.55B (-2.72%) from SEK167B to SEK163B.

Trade In October 2024, the top exports of Sweden were Cars (SEK13.9B), Packaged Medicaments (SEK7.32B), Refined Petroleum (SEK7.11B), Vaccines, blood, antisera, toxins and cultures (SEK4.88B), and Motor vehicles; parts and accessories (8701... (SEK4.58B). In October 2024 the top imports of Sweden were Cars (SEK10.9B), Crude Petroleum (SEK9.48B), Motor vehicles; parts and accessories (8701... (SEK6.46B), Refined Petroleum (SEK4.84B), and Computers (SEK4.39B).

Destinations In October 2024, Sweden exported mostly to Germany (SEK17.7B), Norway (SEK16.1B), United States (SEK14.3B), Finland (SEK10.4B), and Denmark (SEK10B), and imported mostly from Germany (SEK26.4B), Netherlands (SEK16.5B), Norway (SEK16.2B), Denmark (SEK10.4B), and China (SEK9.4B).

Growth In October 2024, the decrease in Sweden's year-by-year exports was explained primarily by an decrease in exports to Finland (SEK-2.03B or -16.3%), South Korea (SEK-1.52B or -54.3%), and China (SEK-1.38B or -18.5%), and product exports decrease in Cars (SEK-2.36B or -14.6%), Iron Ore (SEK-2.3B or -45%), and Refined Petroleum (SEK-2.23B or -23.9%). In October 2024, the decrease in Sweden's year-by-year imports was explained primarily by an decrease in imports from Norway (SEK-3.69B or -18.5%), Germany (SEK-1.76B or -6.23%), and Belgium (SEK-977M or -11.1%), and product imports decrease in Refined Petroleum (SEK-2.51B or -34.2%), Electric Locomotives (SEK-2.37B or -99.5%), and Crude Petroleum (SEK-1.71B or -15.2%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK-9.39B(-5.43%)
IMPORT GROWTH (October 2023 - October 2024)SEK-4.55B(-2.72%)
MAIN DESTINATION (October 2024)GermanySEK17.7B

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

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Cars$14.4B
Top Destination (2023)Germany$18.4B

In 2023, Sweden exported a total of $188B, making it the number 32 exporter in the world. During the last five reported years the exports of Sweden have changed by $27.6B from $161B in 2018 to $188B in 2023.

The most recent exports are led by Cars ($14.4B), Refined Petroleum ($10B), Packaged Medicaments ($9.14B), Vaccines, blood, antisera, toxins and cultures ($5.94B), and Motor vehicles; parts and accessories (8701 to 8705) ($5.87B). The most common destination for the exports of Sweden are Germany ($18.4B), United States ($18.1B), Denmark ($14.4B), Norway ($10.9B), and Netherlands ($10.2B).

Explore Visualizations

Exports (2023)
[Click to Select a Product]

Destinations (2023)
[Click to Select a Country]

Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2022 - 2023)
Belgium$1.39B (+ 21.7%)
United States$957M (+ 5.57%)
France$912M (+ 10.9%)
Fastest Growing Import Markets (2022 - 2023)
France$714M (+ 11.5%)
Germany$630M (+ 2.18%)
Switzerland$506M (+ 37.5%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

Type
Flow
Depth
View
Sort By

Subscribe today to OEC pro and access the latest data

Sign Up

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)1.53Rank 9 of 132
Economic Complexity (Technology)1.56Rank 1 of 96
Economic Complexity (Research)2.04Rank 6 of 140

Most Specialized Products by RCA Index

Sweden has a high level of specialization in Iron Powder (23.7), Polymer Ion-Exchangers (22.7), Kraft Paper (19.9), Nuclear Reactors (18.2), and Tall Oil (17.4). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Sweden according to the product complexity index (PCI) are Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter (1.81), Tools, interchangeable; for hand tools, whether or not power-operated, or for machine... (1.74), Tools, hand; saws and blades for saws of all kinds (including slitting,... (1.71), Stainless steel bars and rods, hot-rolled, in irregularly wound coils (1.66), and Ion-exchangers; based on polymers of heading no. 3901 to 3913, in primary... (1.65). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Sweden according to the relatedness index, were Harvesting Machinery (0.34), Sheet Music (0.34), X-Ray Equipment (0.33), Liquid Fuel Furnaces (0.33), and Special Pharmaceuticals (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.

Relatedness Space (2023)

Diversification Frontier

Filter
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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨4th to the 9th⁩ 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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms