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Exporting to Sweden

Sweden Export Guide | Trade Finance Global

Exporting to Sweden

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 Country Profile

Official Name (Local Language)Konungariket Sverige
CapitalStockholm
Population9,880,604
CurrencySwedish Krona
GDP$511.4 billion
LanguagesSwedish
Telephone Dial In46

Sweden Imports Profile

Imports ($m USD)

153,856

Number of Import Products

4,459

Number of Import Partners

218

Top 5 import partners

Country

Trade

% Partner Share

Germany

28,808

18.72

Netherlands

13,749

8.94

Norway

12,483

8.11

Denmark

11,114

7.22

United Kingdom

7,93

5.15

Top 5 Import Products at HS 6 digit level

Export product

Number

Petroleum oils and oils obtained from bituminou

5.9%

Petroleum oils, etc, (excl. crude); preparation

5.0%

Transmission apparatus, for radioteleph incorpo

4.1%

Automobiles with diesel engine displacing more

3.9%

Fresh or chilled Pacific, Atlantic and Danube s

3.6%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Sweden

Agriculture

%

Product List

1.7%

Barley, wheat, sugar beets; meat, milk

Industry

%

Industry list

34.2%

Iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

Services

%

Services list

0,64

NA

Exporting to Sweden: What is trade finance?

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.

 

Information

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Sweden Economic Statistics

Government Website

https://www.regeringen.se/

Sovereign Ratings

https://countryeconomy.com /ratings/sweden

Central Bank

Sveriges Riksbank

Currency USD Exchange Rate

8569

Unemployment Rate

6.9%

Population below poverty line

0,15

Inflation Rate

0,01

Prime Lending Rate

-0.5%

GDP

$511.4 billion

GDP Pro Capita (PPP)

$49,700

Currency Name

Swedish Krona

Currency Code

SEK

World Bank Classification

High Income

Competitive Industrial Performance

6/138

Corruption Perceptions Index

6/180

Ease of Doing Business

12/190

Enabling Trade Index

5/136

Currency in Sweden

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