Overview In 2019 Sweden was the number 24 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 31 in total imports, the number 14 economy in terms of GDP per capita (current US$) and the number 8 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Sweden are Cars ($11.8B), Packaged Medicaments ($8.04B), Refined Petroleum ($7.56B), Vehicle Parts ($5.22B), and Broadcasting Equipment ($3.89B), exporting mostly to Germany ($16.4B), Norway ($14.8B), United States ($12.5B), Denmark ($11.1B), and Finland ($10B).

In 2019, Sweden was the world's biggest exporter of Vehicle Chassis ($611M) and Iron Powder ($423M)

Imports The top imports of Sweden are Cars ($8.75B), Crude Petroleum ($6.93B), Refined Petroleum ($6.32B), Vehicle Parts ($5.77B), and Broadcasting Equipment ($4.87B), importing mostly from Germany ($27.2B), Netherlands ($13.1B), Denmark ($10.3B), Norway ($10.1B), and China ($8.4B).

In 2019, Sweden was the world's biggest importer of Stainless Steel Ingots ($302M), Wood Tar, Oils and Pitch ($57.9M), and Horsehair Yarn ($1.86M)

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

July, 2021

Historical Data

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Yearly Exports

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Top Export (2019): Cars, $11.8B

Top Destination (2019): Germany, $16.4B

In 2019, Sweden exported a total of $158B, making it the number 32 exporter in the world. During the last five reported years the exports of Sweden have changed by -$6.6B from $164B in 2014 to $158B in 2019.

The most recent exports are led by Cars ($11.8B), Packaged Medicaments ($8.04B), Refined Petroleum ($7.56B), Vehicle Parts ($5.22B), and Broadcasting Equipment ($3.89B). The most common destination for the exports of Sweden are Germany ($16.4B), Norway ($14.8B), United States ($12.5B), Denmark ($11.1B), and Finland ($10B).

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Yearly Imports

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Top Import (2019): Cars, $8.75B

Top Origin (2019): Germany, $27.2B

In 2019 Sweden imported $151B, making it the number 31 trade destination in the world. During the last five reported years the imports of Sweden changed by -$3.65B from $154B in 2014 to $151B in 2019.

The most recent imports of Sweden are led by Cars ($8.75B), Crude Petroleum ($6.93B), Refined Petroleum ($6.32B), Vehicle Parts ($5.77B), and Broadcasting Equipment ($4.87B). The most common import partners for Sweden are Germany ($27.2B), Netherlands ($13.1B), Denmark ($10.3B), Norway ($10.1B), and China ($8.4B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Sweden Exports Services (2019): $5.31B

Sweden Imports Services (2019): $5.9B

In 2019, Sweden exported $5.31B worth of services. The top services exported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.52B), Other royalties and license fees ($779M), Personal travel ($521M), Audiovisual and related services ($411M), and Business travel ($347M).

The top services imported by Sweden in 2019 were Miscellaneous business, professional, and technical services ($1.73B), Personal travel ($898M), Other royalties and license fees ($648M), Other transport ($467M), and Business travel ($461M).

Economic Complexity

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Most Specialized Products by RCA Index

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Sweden has a high level of specialization in Nuclear Reactors (23.5), Iron Powder (21.4), Vehicle Chassis (20.6), Polymer Ion-Exchangers (17.4), and Newsprint (17.3). Specialization is measured using RCA, an index that takes the ratio between Sweden observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Sweden according to the product complexity index (PCI) are Machines nes having individual functions (2.05), Tool plates, tips, etc, sintered metal carbide, cermet (2.03), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.81), Interchangeable tools and dies for hand or power tools (1.79), and Bar or rod of stainless steel, hot rolled, coiled (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Sweden according to the relatedness index, are Insulating Glass (0.33), Harvesting Machinery (0.33), Newspapers (0.32), Special Pharmaceuticals (0.32), and X-Ray Equipment (0.32). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sweden is not specialized in.

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

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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.

Diversification Frontier

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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.

Economic Complexity Ranking

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During the last 20 years Sweden's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨3rd to the 8th⁩ 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.

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