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

About

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.

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.

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

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK2.38B and imported SEK844M from India, resulting in a positive trade balance of SEK1.53B. Between October 2023 and October 2024 the exports of Sweden have increased by SEK873M (57.9%) from SEK1.51B to SEK2.38B, while imports decreased by SEK-306M (-26.6%) from SEK1.15B to SEK844M.

Trade In October 2024, the top exports of Sweden to India were Dissolving Grades Chemical Woodpulp (SEK105M), Kaolin Coated Paper (SEK94.6M), Scrap Iron (SEK59.6M), Semi chemical Woodpulp (SEK53.3M), and Delivery Trucks (SEK49.2M). In October 2024 the top imports of Sweden from India were Motor vehicles; parts and accessories (8701... (SEK71.4M), Transmissions (SEK39.2M), Non-Knit Women's Suits (SEK30.4M), Rubber Tires (SEK23.4M), and House Linens (SEK21.3M).

Growth In October 2024, the increase in Sweden's year-by-year exports to India was explained primarily by an increase in product exports in Kaolin Coated Paper (SEK68.8M or 266%), Semi chemical Woodpulp (SEK37.6M or 241%), and Papermaking Machines (SEK28.3M or 2.05k%). In October 2024, the decrease in Sweden's year-by-year imports  from India was explained primarily by an decrease in product imports  in Other Engines (SEK-92.1M or -96.8%), Coated Flat-Rolled Iron (SEK-22.7M or -91.6%), and Hand-Woven Rugs (SEK-13.8M or -41.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK873M(57.9%)
IMPORT GROWTH (October 2023 - October 2024)SEK-306M(-26.6%)

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 India and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore India and Sweden Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $1.98B in 2023.

In 2018, 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 2023 to $1.12B in 2018.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage Sweden - India

Flow
Scale

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

During 2023, Sweden had a large net trade with India in the exports of Machines ($512M), Metals ($449M), and Paper Goods ($338M).

During 2018, India had a large net trade with Sweden in the exports of Machines ($297M), Textiles ($219M), and Metals ($114M).

Potential Exports

Potential Exports

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

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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Economic Complexity

Competitive Landscape

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

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

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