United States (USA) and Sweden (SWE) Trade

2022

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Exports $7.08BRnk 41 / 219

2022

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About

United States-Sweden Trade: In 2022, United States exported $7.08B to Sweden. The main products that United States exported to Sweden were Crude Petroleum ($1.26B), Vaccines, blood, antisera, toxins and cultures ($740M), and Petroleum Gas ($504M). Over the past 5 years the exports of United States to Sweden have increased at an annualized rate of 14.1%, from $3.67B in 2017 to $7.08B in 2022.

In 2017, United States exported services to Sweden worth $6.39B, with Other business services ($2.01B), Travel ($1.63B), and Financial services ($954M) being the largest in terms of value.

Sweden-United States Trade: In 2022, Sweden exported $17.8B to United States. The main products that Sweden exported to United States were Cars ($3.4B), Packaged Medicaments ($1.29B), and Vaccines, blood, antisera, toxins and cultures ($1.18B). Over the past 5 years the exports of Sweden to United States have increased at an annualized rate of 11.8%, from $10.2B in 2017 to $17.8B in 2022.

In 2020, Sweden exported services to United States worth $7.91B, with Computer and information services ($2.3B), Other business services ($2.12B), and Royalties and license fees ($1.72B) being the largest in terms of value.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Company data: In 2023, leading companies such as Volvo (1.85k), IKEA Group (1.75k), and Parker (256) were at the forefront of exporting goods from Sweden to the United States. Conversely, Ab Gyllensvaans Moebler (1.59k), Other (668), and Volvo Construction Equipment Ab (543) were notable for importing products to Sweden from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $572M and imported $1.45B from Sweden, resulting in a negative trade balance of $875M. Between August 2023 and August 2024 the exports of United States have decreased by $-108M (-15.9%) from $679M to $572M, while imports increased by $306M (26.9%) from $1.14B to $1.45B.

Trade In August 2024, the top exports of United States to Sweden were Crude Petroleum ($199M), Vaccines, blood, antisera, toxins and cultures ($63.8M), Petroleum Gas ($62.1M), Commodities not elsewhere specified ($44.5M), and Refined Petroleum ($41.3M). In August 2024 the top imports of United States from Sweden were Cars ($330M), Vaccines, blood, antisera, toxins and cultures ($188M), Refined Petroleum ($53.9M), Kaolin Coated Paper ($41.6M), and Sawn Wood ($38.4M).

Origins In August 2024 the exports of United States were mainly from Texas ($102M), California ($57.3M), North Carolina ($49.1M), Indiana ($47.9M), and Michigan ($43.5M), while imports destinations were mainly North Carolina ($256M), Indiana ($214M), Illinois ($113M), Kentucky ($105M), and Pennsylvania ($87.6M).

Growth In August 2024, the decrease in United States's year-by-year exports to Sweden was explained primarily by an decrease in product exports in Office Machine Parts ($-16.9M or -90%), Explosive Ammunition ($-6.21M or -90.6%), and Tall Oil ($-5.89M or -45.7%). In August 2024, the increase in United States's year-by-year imports from Sweden was explained primarily by an increase in product imports in Cars ($101M or 44.2%), Vaccines, blood, antisera, toxins and cultures ($95.2M or 102%), and Sawn Wood ($25M or 187%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)$-108M(-15.9%)

IMPORT GROWTH (August 2023 - August 2024)$306M(26.9%)

MAIN EXPORTER (August 2024)Texas$102M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $7.08B to Sweden. The main products exported from United States to Sweden were Crude Petroleum ($1.26B), Vaccines, blood, antisera, toxins and cultures ($740M), and Petroleum Gas ($504M). During the last 5 years the exports of United States to Sweden have increased at an annualized rate of 14.1%, from $3.67B in 2017 to $7.08B in 2022.

In 2017, Sweden exported $17.8B to United States. The main products exported from Sweden to United States were Cars ($3.4B), Packaged Medicaments ($1.29B), and Vaccines, blood, antisera, toxins and cultures ($1.18B). During the last 5 years the exports of Sweden to United States have increased at an annualized rate of 11.8%, from $10.2B in 2022 to $17.8B in 2017.

Exports from United States () to Sweden () (2022)

Exports from Sweden () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Sweden
Top DestinationGermany$19.2B

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

In 2022, countries that imported more from United States than Sweden included Canada ($308B), Mexico ($294B), and China ($151B).

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

Difference in imports from Sweden () and United States () (2022)

Comparative Advantage United States - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Sweden in the exports of Mineral Products ($2.24B), Chemical Products ($1.52B), and Machines ($1.24B).

During 2017, Sweden had a large net trade with United States in the exports of Machines ($3.97B), Transportation ($3.94B), and Chemical Products ($2.94B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Sweden+$271MCrude Petroleum

Top Product Potential Sweden United States+$602MCars

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

Swe Year

Usa Year

In 2017, United States exported services to Sweden worth $6.39B, with Other business services ($2.01B), Travel ($1.63B), and Financial services ($954M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Sweden () (2017)

Services Exports from Sweden () to United States () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United States () and Sweden () (2022)

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