2022
Flag  
GDP
$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH
6.06%CURRENT US$
Rnk 151 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$55,873CURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP PC GROWTH
-3.73%CURRENT US$
Rnk 149 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

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.

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.

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

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $1.76B in 2022.

In 2017, 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 2022 to $1.51B in 2017.

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

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

Market Competitiveness

Color
Sweden
Top Destination
Germany$19.2B
South Korea
Top Destination
China$150B

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

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

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

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

Comparative Advantage Sweden - South Korea

Flow
Scale

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

During 2022, Sweden had a large net trade with South Korea in the exports of Machines ($431M), Transportation ($421M), and Chemical Products ($243M).

During 2017, South Korea had a large net trade with Sweden in the exports of Transportation ($529M), Machines ($476M), and Metals ($153M).

Potential Exports

Potential Exports

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

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 South Korea. This means that a dot/product with the flag of Sweden indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Sweden.

Product Space of Sweden (Flag) and South Korea (Flag) (2022)

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