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2023
Flag → Flag
Exports $1.12BRnk 62 / 220
2023
Flag → Flag
Top Product $94.9MRefined Petroleum
2023
Flag → Flag
Exports $1.98BRnk 20 / 216
2023
Flag → Flag
Top Product $126MDelivery Trucks
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
GDP PC $2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC$55,517CURRENT US$
Rnk 19 / 196
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195

About

India-Sweden Trade: In 2023, India exported $1.12B to Sweden. The main products that India exported to Sweden were Refined Petroleum ($94.9M), Motor vehicles; parts and accessories (8701 to 8705) ($66.1M), and Broadcasting Equipment ($62.2M). Over the past 5 years the exports of India to Sweden have increased at an annualized rate of 6.1%, from $833M in 2018 to $1.12B in 2023.

In 2023, India did not export any services to Sweden.

Sweden-India Trade: In 2023, Sweden exported $1.98B to India. The main products that Sweden exported to India were Delivery Trucks ($126M), Motor vehicles; parts and accessories (8701 to 8705) ($98.2M), and Dissolving Grades Chemical Woodpulp ($87.4M). Over the past 5 years the exports of Sweden to India have increased at an annualized rate of 7.4%,  from $1.39B in 2018 to $1.98B in 2023.

In 2020, Sweden exported services to India worth $424M, with Computer and information services ($266M), Other business services ($48.7M), and Insurance services ($34.8M) being the largest in terms of value.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B).

Latest Trends

November, 2024

About

Overview In November 2024, India exported $104M and imported $195M from Sweden, resulting in a negative trade balance of $91.6M. Between November 2023 and November 2024 the exports of India have increased by $28.1M (37.2%) from $75.6M to $104M, while imports increased by $48.4M (32.9%) from $147M to $195M.

Trade In November 2024, the top exports of India to Sweden were Rmg Cotton Incl Accessories ($8.82M), Electric Machinery And Equipme ($5.31M), Auto Components/Parts ($5.22M), Products Of Iron And Steel ($3.9M), and Rmg Of Othr Textle Matrl ($3.84M). In November 2024 the top imports of India from Sweden were Iron And Steel ($22.8M), Pulp And Waste Paper ($16.3M), Paper, Paper Board And Product ($12.3M), Auto Components/Parts ($11.3M), and Indl. Machnry For Dairy Etc ($9.19M).

Growth In November 2024, the increase in India's year-by-year exports to Sweden was explained primarily by an increase in product exports in Electric Machinery And Equipme ($2.75M or 107%), Aluminium, Products Of Aluminm ($1.9M or 196%), and Optical Items (Incl.Lens Etc) ($1.67M or 229%). In November 2024, the increase in India's year-by-year imports  from Sweden was explained primarily by an increase in product imports  in Iron And Steel ($10.2M or 81.6%), Pulp And Waste Paper ($7.66M or 88.6%), and Paper, Paper Board And Product ($7.62M or 164%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$28.1M(37.2%)
IMPORT GROWTH (November 2023 - November 2024)$48.4M(32.9%)

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

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

For full datasets download visit Bulk Download page.

Explore Sweden and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $1.12B to Sweden. The main products exported from India to Sweden were Refined Petroleum ($94.9M), Motor vehicles; parts and accessories (8701 to 8705) ($66.1M), and Broadcasting Equipment ($62.2M). During the last 5 years the exports of India to Sweden have increased at an annualized rate of 6.1%, from $833M in 2018 to $1.12B in 2023.

In 2018, Sweden exported $1.98B to India. The main products exported from Sweden to India were Delivery Trucks ($126M), Motor vehicles; parts and accessories (8701 to 8705) ($98.2M), and Dissolving Grades Chemical Woodpulp ($87.4M). During the last 5 years the exports of Sweden to India have increased at an annualized rate of 7.4%, from $1.39B in 2023 to $1.98B in 2018.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Sweden
Top DestinationGermany$18.4B

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

In 2023, countries that imported more from India than Sweden included United States ($85.5B), United Arab Emirates ($28.8B), and Bangladesh ($11.3B).

In 2023, countries that imported more from Sweden than India included Denmark ($14.4B), Norway ($10.9B), and Finland ($9.41B).

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

Comparative Advantage India - Sweden

Flow
Scale

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

During 2023, India had a large net trade with Sweden in the exports of Machines ($297M), Textiles ($219M), and Metals ($114M).

During 2018, Sweden had a large net trade with India in the exports of Machines ($512M), Metals ($449M), and Paper Goods ($338M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Sweden+$144MRefined Petroleum
Top Product Potential Sweden India+$65.6MMotor vehicles; parts and accessories (8701 to 8705)

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 India worth $424M, with Computer and information services ($266M), Other business services ($48.7M), and Insurance services ($34.8M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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