South Korea (KOR) and Sweden (SWE) Trade | The Observatory of Economic Complexity

- Chat OEC
  New
- Company Explorer
  PREMIUM
- Trend Explorer
  PRO
- - Tree map
  - Stacked
  - Network
  - Map
  - Scatter
- Data Availability
- - API Documentation
    PRO
  - Notebooks
  - Data Explorer
    PRO
- - Bill of Lading
    PREMIUM
  - National Datasets
    PREMIUM
  - Product Datasets
  - International Datasets
- - ECI Countries (2022)
  - PCI Products (2022)
  - ECI, PCI (1964-2017)
- - Pick 5
  - Connectrade
  - Tradle
  - Trivia
- - Store

Pricing

South Korea (KOR) and Sweden (SWE) Trade

2022

→

Exports $1.51BRnk 47 / 220

2022

→

About

South Korea-Sweden Trade: In 2022, South Korea exported $1.51B to Sweden. The main products that South Korea exported to Sweden were Cars ($483M), Broadcasting Equipment ($181M), and Coated Flat-Rolled Iron ($104M). Over the past 5 years the exports of South Korea to Sweden have increased at an annualized rate of 9.43%, from $963M in 2017 to $1.51B in 2022.

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 2022, Sweden exported $1.76B to South Korea. The main products that Sweden exported to South Korea were Cars ($185M), Delivery Trucks ($147M), and Vaccines, blood, antisera, toxins and cultures ($122M). Over the past 5 years the exports of Sweden to South Korea have increased at an annualized rate of 2.3%, from $1.57B in 2017 to $1.76B in 2022.

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 2022, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $77.6M and imported $145M from Sweden, resulting in a negative trade balance of $67.5M. Between October 2023 and October 2024 the exports of South Korea have decreased by $-20.5M (-20.9%) from $98M to $77.6M, while imports decreased by $-21.7M (-13%) from $167M to $145M.

Trade In October 2024, the top exports of South Korea to Sweden were Cars, tractors, trucks & parts thereof. ($58.8M), Electrical machinery and electronics ($21.8M), Pharmaceutical products ($8.07M), Plastics & articles thereof ($7.34M), and Machinery, mechanical appliances, & parts ($5.56M). In October 2024 the top imports of South Korea from Sweden were Cars, tractors, trucks & parts thereof. ($37.4M), Machinery, mechanical appliances, & parts ($23.9M), Pharmaceutical products ($11.8M), Iron & steel ($9.5M), and Plastics & articles thereof ($9M).

Growth In October 2024, the decrease in South Korea's year-by-year exports to Sweden was explained primarily by an decrease in product exports in Iron & steel ($-25.2M or -90.4%), Plastics & articles thereof ($-2.04M or -21.8%), and Machinery, mechanical appliances, & parts ($-1.02M or -15.4%). In October 2024, the decrease in South Korea's year-by-year imports from Sweden was explained primarily by an decrease in product imports in Plastics & articles thereof ($-7.32M or -44.9%), Machinery, mechanical appliances, & parts ($-6.66M or -21.8%), and Optical, photo, & film equipment; medical... ($-4.38M or -43.8%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (October 2023 - October 2024)$-20.5M(-20.9%)

IMPORT GROWTH (October 2023 - October 2024)$-21.7M(-13%)

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

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, South Korea exported $1.51B to Sweden. The main products exported from South Korea to Sweden were Cars ($483M), Broadcasting Equipment ($181M), and Coated Flat-Rolled Iron ($104M). During the last 5 years the exports of South Korea to Sweden have increased at an annualized rate of 9.43%, from $963M in 2017 to $1.51B in 2022.

In 2017, Sweden exported $1.76B to South Korea. The main products exported from Sweden to South Korea were Cars ($185M), Delivery Trucks ($147M), and Vaccines, blood, antisera, toxins and cultures ($122M). During the last 5 years the exports of Sweden to South Korea have increased at an annualized rate of 2.3%, from $1.57B in 2022 to $1.76B in 2017.

Exports from South Korea () to Sweden () (2022)

Exports from Sweden () to South Korea () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

South Korea
Top DestinationChina$150B

Sweden
Top DestinationGermany$19.2B

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 2022, countries that imported more from South Korea than Sweden included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from Sweden than South Korea included Norway ($18.7B), Denmark ($14.6B), and Finland ($13.4B).

Difference in imports from Sweden () and South Korea () (2022)

Comparative Advantage South Korea - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, South Korea had a large net trade with Sweden in the exports of Transportation ($529M), Machines ($476M), and Metals ($153M).

During 2017, Sweden had a large net trade with South Korea in the exports of Machines ($431M), Transportation ($421M), and Chemical Products ($243M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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.

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Swe Year

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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 () and Sweden () (2022)

Keep Exploring

South Korea
Slovenia
South Korea
Ukraine
Cambodia
Sweden
Kuwait
Sweden

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 OEC Privacy Policy Terms