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2023
Flag → Flag
Exports $10.1BRnk 6 / 216
2023
Flag → Flag
Top Product $1.15BGold
2023
Flag → Flag
Exports $6.14BRnk 19 / 223
2023
Flag → Flag
Top Product $1.59BCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag  
GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
 GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC$49,464CURRENT US$
Rnk 26 / 196
2013-2023
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GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195

About

Sweden-United Kingdom Trade: In 2023, Sweden exported $10.1B to United Kingdom. The main products that Sweden exported to United Kingdom were Gold ($1.15B), Refined Petroleum ($860M), and Sawn Wood ($817M). Over the past 5 years the exports of Sweden to United Kingdom have increased at an annualized rate of 1.27%, from $9.49B in 2018 to $10.1B in 2023.

In 2020, Sweden exported services to United Kingdom worth $6.41B, with Other business services ($2.26B), Royalties and license fees ($1.58B), and Computer and information services ($1.13B) being the largest in terms of value.

United Kingdom-Sweden Trade: In 2023, United Kingdom exported $6.14B to Sweden. The main products that United Kingdom exported to Sweden were Crude Petroleum ($1.59B), Cars ($391M), and Stainless Steel Ingots ($324M). Over the past 5 years the exports of United Kingdom to Sweden have decreased at an annualized rate of 2.25%,  from $7.89B in 2018 to $6.14B in 2023.

In 2019, United Kingdom exported services to Sweden worth $5.21B, with Other business services ($2.51B), Travel ($1.05B), and Financial services ($830M) being the largest in terms of value.

Comparison: In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B). That same year, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B).

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK9.42B and imported SEK6.61B from United Kingdom, resulting in a positive trade balance of SEK2.81B. Between October 2023 and October 2024 the exports of Sweden have increased by SEK182M (1.97%) from SEK9.23B to SEK9.42B, while imports decreased by SEK-815M (-11%) from SEK7.42B to SEK6.61B.

Trade In October 2024, the top exports of Sweden to United Kingdom were Refined Petroleum (SEK2.41B), Gold (SEK695M), Sawn Wood (SEK597M), Cars (SEK401M), and Packaged Medicaments (SEK379M). In October 2024 the top imports of Sweden from United Kingdom were Crude Petroleum (SEK413M), Cars (SEK302M), Stainless Steel Ingots (SEK288M), Radioactive Chemicals (SEK253M), and Motor vehicles; parts and accessories (8701... (SEK252M).

Growth In October 2024, the increase in Sweden's year-by-year exports to United Kingdom was explained primarily by an increase in product exports in Refined Petroleum (SEK898M or 59.3%), Gold (SEK319M or 84.7%), and Packaged Medicaments (SEK231M or 156%). In October 2024, the decrease in Sweden's year-by-year imports  from United Kingdom was explained primarily by an decrease in product imports  in Crude Petroleum (SEK-1.37B or -76.8%), Coal Tar Oil (SEK-162M or -99.6%), and Navigation Equipment (SEK-147M or -77.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK182M(1.97%)
IMPORT GROWTH (October 2023 - October 2024)SEK-815M(-11%)

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

To check United Kingdom and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore United Kingdom and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $10.1B to United Kingdom. The main products exported from Sweden to United Kingdom were Gold ($1.15B), Refined Petroleum ($860M), and Sawn Wood ($817M). During the last 5 years the exports of Sweden to United Kingdom have increased at an annualized rate of 1.27%, from $9.49B in 2018 to $10.1B in 2023.

In 2018, United Kingdom exported $6.14B to Sweden. The main products exported from United Kingdom to Sweden were Crude Petroleum ($1.59B), Cars ($391M), and Stainless Steel Ingots ($324M). During the last 5 years the exports of United Kingdom to Sweden have decreased at an annualized rate of 2.25%, from $7.89B in 2023 to $6.14B in 2018.

Exports from Sweden (Flag) to United Kingdom (Flag) (2023)

Exports from United Kingdom (Flag) to Sweden (Flag) (2023)

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
United Kingdom
Top DestinationUnited States$59.7B

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

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

In 2023, countries that imported more from United Kingdom than Sweden included United States ($59.7B), Ireland ($29.1B), and China ($35.3B).

Difference in imports from United Kingdom (Flag) and Sweden (Flag) (2023)

Comparative Advantage Sweden - United Kingdom

Flow
Scale

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

During 2023, Sweden had a large net trade with United Kingdom in the exports of Machines ($1.73B), Precious Metals ($1.36B), and Transportation ($1.33B).

During 2018, United Kingdom had a large net trade with Sweden in the exports of Mineral Products ($1.74B), Machines ($1.2B), and Transportation ($820M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden United Kingdom+$279MCars
Top Product Potential United Kingdom Sweden+$173MCars

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 United Kingdom worth $6.41B, with Other business services ($2.26B), Royalties and license fees ($1.58B), and Computer and information services ($1.13B) being the largest in terms of value.

In 2019, United Kingdom exported services to Sweden worth $5.21B, with Other business services ($2.51B), Travel ($1.05B), and Financial services ($830M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Sweden (Flag) to United Kingdom (Flag) (2020)

Services Exports from United Kingdom (Flag) to Sweden (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Sweden (Flag) and United Kingdom (Flag) (2023)

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