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2022
Flag → Flag
Exports $1.51BRnk 47 / 220
2022
Flag → Flag
Top Product $483MCars
2022
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Exports $1.76BRnk 20 / 217
2022
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Top Product $185MCars
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI 1.49Rnk 9 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
Rnk 151 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 186

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

August, 2024

About

Overview In August 2024, South Korea exported $146M and imported $144M from Sweden, resulting in a positive trade balance of $1.39M. Between August 2023 and August 2024 the exports of South Korea have increased by $27.3M (23.1%) from $118M to $146M, while imports decreased by $-3.9M (-2.63%) from $148M to $144M.

Trade In August 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 August 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 August 2024, the increase in South Korea's year-by-year exports to Sweden was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. ($8.9M or 17.8%), Pharmaceutical products ($7.78M or 2.68k%), and Electrical machinery and electronics ($4.19M or 23.7%). In August 2024, the decrease in South Korea's year-by-year imports  from Sweden was explained primarily by an decrease in product imports  in Plastics & articles thereof ($-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
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$27.3M(23.1%)
IMPORT GROWTH (August 2023 - August 2024)$-3.9M(-2.63%)

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 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 (Flag) to Sweden (Flag) (2022)

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

Market Competitiveness

Color
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 (Flag) and South Korea (Flag) (2022)

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 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

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) (2022)

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