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2022
Economic Complexity
Trade 1.49Rank 9 of 133
2021
Economic Complexity
Technology 1.56Rank 1 of 96
2022
Economic Complexity
Research 1.99Rank 6 of 135
2022
Product
Exports | Imports $194B | $190B33 of 226 |  31 of 226
2022
Per Capita Product
Exports | Imports $18.5k | $18.1k23 of 220 |  28 of 220

About

Overview In 2022, Sweden was the number 23 economy in the world in terms of GDP (current US$), the number 33 in total exports, the number 31 in total imports, the number 13 economy in terms of GDP per capita (current US$) and the number 9 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Sweden are Refined Petroleum ($12.9B), Cars ($11.9B), Packaged Medicaments ($8.25B), Electricity ($5.83B), and Sawn Wood ($4.76B), exporting mostly to Germany ($19.2B), Norway ($18.7B), United States ($17.8B), Denmark ($14.6B), and Finland ($13.4B).

In 2022, Sweden was the world's biggest exporter of Polymer Ion-Exchangers ($494M) and Iron Powder ($492M)

Imports The top imports of Sweden are Crude Petroleum ($14.2B), Cars ($9.84B), Refined Petroleum ($8.81B), Broadcasting Equipment ($6.44B), and Motor vehicles; parts and accessories (8701 to 8705) ($5.66B), importing mostly from Germany ($30B), Netherlands ($19.3B), Norway ($17.7B), China ($13.6B), and Denmark ($11.6B).

In 2022, Sweden was the world's biggest importer of Wood Tar, Oils and Pitch ($96.7M) and Horsehair Yarn ($1.18M)

Location Sweden borders Finland and Norway by land and Denmark, Estonia, Germany, Latvia, Lithuania, Poland, and Russia by sea.

Latest Trends

August, 2024

About

Overview In August 2024 Sweden exported SEK135B and imported SEK141B, resulting in a negative trade balance of SEK5.91B. Between August 2023 and August 2024 the exports of Sweden have decreased by SEK-7.26B (-5.1%) from SEK142B to SEK135B, while imports decreased by SEK-7.61B (-5.12%) from SEK149B to SEK141B.

Trade In August 2024, the top exports of Sweden were Cars (SEK8.97B), Refined Petroleum (SEK7.42B), Non-fillet Fresh Fish (SEK3.89B), Packaged Medicaments (SEK3.88B), and Planes, Helicopters, and/or Spacecraft (SEK3.55B). In August 2024 the top imports of Sweden were Crude Petroleum (SEK10B), Cars (SEK7.11B), Refined Petroleum (SEK4.58B), Motor vehicles; parts and accessories (8701... (SEK4.32B), and Non-fillet Fresh Fish (SEK3.9B).

Destinations In August 2024, Sweden exported mostly to Norway (SEK14.3B), Germany (SEK13.6B), United States (SEK11.5B), Finland (SEK9.59B), and Denmark (SEK9.06B), and imported mostly from Germany (SEK21.8B), Norway (SEK14.5B), Netherlands (SEK13.3B), Denmark (SEK9.52B), and China (SEK8.41B).

Growth In August 2024, the decrease in Sweden's year-by-year exports was explained primarily by an decrease in exports to United Kingdom (SEK-2.4B or -24.2%), Germany (SEK-2.1B or -13.4%), and Norway (SEK-2.06B or -12.6%), and product exports decrease in Vaccines, blood, antisera, toxins and cultures (SEK-2.78B or -61.8%), Refined Petroleum (SEK-2.72B or -26.9%), and Iron Ore (SEK-1.36B or -34.3%). In August 2024, the decrease in Sweden's year-by-year imports was explained primarily by an decrease in imports from Norway (SEK-4.47B or -23.6%), Netherlands (SEK-2.7B or -16.9%), and United Kingdom (SEK-1.88B or -31.4%), and product imports decrease in Crude Petroleum (SEK-2.24B or -18.3%), Refined Petroleum (SEK-2.1B or -31.5%), and Computers (SEK-1.64B or -32.7%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (August 2023 - August 2024)SEK-7.26B(-5.1%)
IMPORT GROWTH (August 2023 - August 2024)SEK-7.61B(-5.12%)
MAIN DESTINATION (August 2024)NorwaySEK14.3B

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

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Refined Petroleum$12.9B
Top Destination (2022)Germany$19.2B

In 2022, Sweden exported a total of $194B, making it the number 33 exporter in the world. During the last five reported years the exports of Sweden have changed by $42.2B from $151B in 2017 to $194B in 2022.

The most recent exports are led by Refined Petroleum ($12.9B), Cars ($11.9B), Packaged Medicaments ($8.25B), Electricity ($5.83B), and Sawn Wood ($4.76B). The most common destination for the exports of Sweden are Germany ($19.2B), Norway ($18.7B), United States ($17.8B), Denmark ($14.6B), and Finland ($13.4B).

Explore Visualizations

Exports (2022)
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Destinations (2022)
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Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2021 - 2022)
United States$2.49B (+ 16.3%)
Norway$1.48B (+ 8.56%)
Finland$1.47B (+ 12.3%)
Fastest Growing Import Markets (2021 - 2022)
Netherlands$3.99B (+ 26.1%)
Norway$3.88B (+ 28.1%)
United States$1.92B (+ 37.1%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

Sweden Exports Services (2020)$49.9B
Sweden Imports Services (2020)$54.3B

In 2020, Sweden exported $49.9B worth of services. The top services exported by Sweden in 2020 were Miscellaneous business, professional, and technical services ($15B), Other royalties and license fees ($8.39B), Audiovisual and related services ($5.44B), Other transport ($3.36B), and Financial services ($2.72B).

The top services imported by Sweden in 2020 were Miscellaneous business, professional, and technical services ($20.2B), Other royalties and license fees ($9.2B), Other transport ($4.83B), Personal travel ($4.09B), and Sea transport ($2.49B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.49Rank 9 of 133
Economic Complexity (Technology)1.56Rank 1 of 96
Economic Complexity (Research)1.99Rank 6 of 135

Most Specialized Products by RCA Index

Sweden has a high level of specialization in Polymer Ion-Exchangers (25.5), Iron Powder (21.8), Nuclear Reactors (19.9), Non-fillet Fresh Fish (18.4), and Kraft Paper (16.8). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Sweden according to the relatedness index, were Coin (0.34), Harvesting Machinery (0.34), Raw Nickel (0.33), X-Ray Equipment (0.33), and Special Pharmaceuticals (0.33). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sweden is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Sweden. These are products that tend to be co-exported with the products that Sweden exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨4th to the 9th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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