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2023
Flag → Flag
Exports $891MRnk 34 / 216
2023
Flag → Flag
Top Product $236MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $46.3MRnk 91 / 137
2023
Flag → Flag
Top Product $36.8MPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
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Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
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GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
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GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
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 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
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GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195
2023
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GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
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GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
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GDP PC$13,817CURRENT US$
Rnk 74 / 196
2013-2023
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GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

Sweden-Russia Trade: In 2023, Sweden exported $891M to Russia. The main products that Sweden exported to Russia were Vaccines, blood, antisera, toxins and cultures ($236M), Packaged Medicaments ($220M), and Nitrogen Heterocyclic Compounds ($183M). Over the past 5 years the exports of Sweden to Russia have decreased at an annualized rate of 17.9%, from $2.38B in 2018 to $891M in 2023.

In 2020, Sweden exported services to Russia worth $732M, with Other business services ($303M), Computer and information services ($179M), and Personal, cultural, and recreational services ($77.4M) being the largest in terms of value.

Russia-Sweden Trade: In 2023, Russia exported $46.3M to Sweden. The main products that Russia exported to Sweden were Petroleum Gas ($36.8M), Scrap Aluminium ($4.64M), and Other Isotopes ($2.2M). Over the past 5 years the exports of Russia to Sweden have decreased at an annualized rate of 61.3%,  from $5.34B in 2018 to $46.3M in 2023.

In 2020, Russia exported services to Sweden worth $277M, with Other business services ($134M), Transportation ($61.6M), and Computer and information services ($33.5M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK1.3B and imported SEK1.24M from Russia, resulting in a positive trade balance of SEK1.3B. Between October 2023 and October 2024 the exports of Sweden have increased by SEK100M (8.37%) from SEK1.2B to SEK1.3B, while imports decreased by SEK-39.4M (-96.9%) from SEK40.6M to SEK1.24M.

Trade In October 2024, the top exports of Sweden to Russia were Nitrogen Heterocyclic Compounds (SEK868M), Packaged Medicaments (SEK117M), Vaccines, blood, antisera, toxins and cultures (SEK99.8M), Unpackaged Medicaments (SEK50.1M), and Plastic Lids (SEK12M). In October 2024 the top imports of Sweden from Russia were Petroleum Gas (SEK60.8M), Commodities not elsewhere specified (SEK1.38M), Ferroalloys (SEK842k), Motor vehicles; parts and accessories (8701... (SEK542k), and Microphones and Headphones (SEK137k).

Growth In October 2024, the increase in Sweden's year-by-year exports to Russia was explained primarily by an increase in product exports in Nitrogen Heterocyclic Compounds (SEK868M or 86.8M%), Packaged Medicaments (SEK47.2M or 68%), and Unpackaged Medicaments (SEK32.7M or 188%). In October 2024, the decrease in Sweden's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Ferroalloys (SEK-16.5M or -95.1%), Petroleum Gas (SEK-14.5M or -19.3%), and Other Knit Garments (SEK-1.61M or -99.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK100M(8.37%)
IMPORT GROWTH (October 2023 - October 2024)SEK-39.4M(-96.9%)

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 Russia and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $891M to Russia. The main products exported from Sweden to Russia were Vaccines, blood, antisera, toxins and cultures ($236M), Packaged Medicaments ($220M), and Nitrogen Heterocyclic Compounds ($183M). During the last 5 years the exports of Sweden to Russia have decreased at an annualized rate of 17.9%, from $2.38B in 2018 to $891M in 2023.

In 2018, Russia exported $46.3M to Sweden. The main products exported from Russia to Sweden were Petroleum Gas ($36.8M), Scrap Aluminium ($4.64M), and Other Isotopes ($2.2M). During the last 5 years the exports of Russia to Sweden have decreased at an annualized rate of 61.3%, from $5.34B in 2023 to $46.3M in 2018.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Sweden than Russia included Germany ($18.4B), Denmark ($14.4B), and United States ($18.1B).

In 2023, countries that imported more from Russia than Sweden included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Sweden - Russia

Flow
Scale

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

During 2023, Sweden had a large net trade with Russia in the exports of Chemical Products ($844M), Machines ($30.6M), and Plastics and Rubbers ($9.04M).

During 2018, Russia had a large net trade with Sweden in the exports of Mineral Products ($36.8M), Metals ($5.6M), and Chemical Products ($2.49M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Russia+$135MPackaged Medicaments
Top Product Potential Russia Sweden+$286MCrude 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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Bilateral Service Trade

In 2020, Sweden exported services to Russia worth $732M, with Other business services ($303M), Computer and information services ($179M), and Personal, cultural, and recreational services ($77.4M) being the largest in terms of value.

In 2020, Russia exported services to Sweden worth $277M, with Other business services ($134M), Transportation ($61.6M), and Computer and information services ($33.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Sweden (Flag) to Russia (Flag) (2020)

Services Exports from Russia (Flag) to Sweden (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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