Sweden exports around $160B and imports around $150B, which results in a positive trade balance of around $10B. The GDP of Sweden is around $570B a year and the GDP per capita was around $44k. The main exports of Sweden are refined petroleum (around $11B), packaged medicaments (around $7B), vehicle parts ($6B), telephones ($5.5B) and cars ($5B). The main imports are crude petroleum (around $11B), refined petroleum (under $8B), cars (around $7.5B), vehicle parts (around $5B) and computers (around $4.5B).
Sweden is the twenty-ninth largest export economy in the world and the fourth most complex economy according to the Economic Complexity Index (ECI) member of the EU and the World Trade Organisation and so goods manufactured in the UK are exempt from import duties. Interestingly the Swedish construction sector has an annual turnover of £50 billion and around half of Sweden’s national wealth is spent on construction investment. There is an increasing demand for energy in Sweden and it is estimated that by 2020 it is expected to need an additional 1.3 giga watts (GW) in energy supply; so there has been a more in depth look at renewables. There is an aim that there will be no reliance on fossil fuels by 2030, and there has been a large expansion of solar, biofuel, water and wind power in recent years. By 2020, Sweden is forecast to receive over 60% of its energy from renewable sources. For an expats guide for doing business in Sweden, we’d recommend Everything Sweden.
Sweden: Imports Profile
| $0.16 trillion|
|Machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel, foodstuffs, clothing|
|Germany 18.0%, Netherlands 8.3%, Norway 8.2%, Denmark 7.7%, United Kingdom 5.5%, China 5.1%, Finland 4.6%, Belgium 4.4%, France 4.3% (2015 est.)|