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2023
Flag → Flag
Exports $1.52BRnk 38 / 142
2023
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Top Product $606MCars
2023
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Exports $1.91BRnk 23 / 216
2023
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Top Product $265MCars
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
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 GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
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GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
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GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
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GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$55,517CURRENT US$
Rnk 19 / 196
2013-2023
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GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195

About

South Korea-Sweden Trade: In 2023, South Korea exported $1.52B to Sweden. The main products that South Korea exported to Sweden were Cars ($606M), Broadcasting Equipment ($86.1M), and Vaccines, blood, antisera, toxins and cultures ($84.7M). Over the past 5 years the exports of South Korea to Sweden have increased at an annualized rate of 6.08%, from $1.13B in 2018 to $1.52B in 2023.

In 2005, South Korea exported services to Sweden worth $150M, with Other business services ($65M), Transportation ($61.2M), and Travel ($14.4M) being the largest in terms of value.

Sweden-South Korea Trade: In 2023, Sweden exported $1.91B to South Korea. The main products that Sweden exported to South Korea were Cars ($265M), Delivery Trucks ($196M), and Vaccines, blood, antisera, toxins and cultures ($190M). Over the past 5 years the exports of Sweden to South Korea have increased at an annualized rate of 0.74%,  from $1.84B in 2018 to $1.91B in 2023.

In 2020, Sweden exported services to South Korea worth $609M, with Royalties and license fees ($432M), Transportation ($77.9M), and Computer and information services ($48.9M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $66.3M and imported $206M from Sweden, resulting in a negative trade balance of $139M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-42.8M (-39.2%) from $109M to $66.3M, while imports decreased by $-717k (-0.35%) from $206M to $206M.

Trade In December 2024, the top exports of South Korea to Sweden were Cars, tractors, trucks & parts thereof. ($64.4M), Electrical machinery and electronics ($14.4M), Machinery, mechanical appliances, & parts ($10.2M), Iron & steel ($8.59M), and Plastics & articles thereof ($6.65M). In December 2024 the top imports of South Korea from Sweden were Plastics & articles thereof ($27.5M), Machinery, mechanical appliances, & parts ($27.1M), Electrical machinery and electronics ($20.1M), Cars, tractors, trucks & parts thereof. ($11.5M), and Iron & steel ($9.69M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Sweden was explained primarily by an decrease in product exports in Pharmaceutical products ($-7.69M or -95.3%), Electrical machinery and electronics ($-7.41M or -33.9%), and Plastics & articles thereof ($-692k or -9.43%). In December 2024, the decrease in South Korea's year-by-year imports  from Sweden was explained primarily by an decrease in product imports  in Cars, tractors, trucks & parts thereof. ($-25.9M or -69.2%), Pharmaceutical products ($-6.58M or -55.8%), and Copper articles ($-3.14M or -99.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-42.8M(-39.2%)
IMPORT GROWTH (December 2023 - December 2024)$-717k(-0.35%)

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

To check Sweden and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Sweden and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $1.52B to Sweden. The main products exported from South Korea to Sweden were Cars ($606M), Broadcasting Equipment ($86.1M), and Vaccines, blood, antisera, toxins and cultures ($84.7M). During the last 5 years the exports of South Korea to Sweden have increased at an annualized rate of 6.08%, from $1.13B in 2018 to $1.52B in 2023.

In 2018, Sweden exported $1.91B to South Korea. The main products exported from Sweden to South Korea were Cars ($265M), Delivery Trucks ($196M), and Vaccines, blood, antisera, toxins and cultures ($190M). During the last 5 years the exports of Sweden to South Korea have increased at an annualized rate of 0.74%, from $1.84B in 2023 to $1.91B in 2018.

Exports from South Korea (Flag) to Sweden (Flag) (2023)

Exports from Sweden (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Sweden
Top DestinationGermany$18.4B

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

In 2023, countries that imported more from South Korea than Sweden included China ($162B), United States ($118B), and Hong Kong ($28.8B).

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

Difference in imports from Sweden (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Sweden

Flow
Scale

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

During 2023, South Korea had a large net trade with Sweden in the exports of Transportation ($639M), Machines ($413M), and Chemical Products ($147M).

During 2018, Sweden had a large net trade with South Korea in the exports of Transportation ($552M), Machines ($544M), and Chemical Products ($259M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Sweden+$144MCars
Top Product Potential Sweden South Korea+$110MCars

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 2005, South Korea exported services to Sweden worth $150M, with Other business services ($65M), Transportation ($61.2M), and Travel ($14.4M) being the largest in terms of value.

In 2020, Sweden exported services to South Korea worth $609M, with Royalties and license fees ($432M), Transportation ($77.9M), and Computer and information services ($48.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Sweden (Flag) (2005)

Services Exports from Sweden (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of South Korea (Flag) and Sweden (Flag) (2023)

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