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Importing from Sweden

Sweden Import Guide | Trade Finance Global

Importing from Sweden

Sweden is a strong economy with an average unemployment rate for persons of working age at almost 8%. It is a member of the European Union (EU) is ranked as the twenty-second in the world for Gross Domestic Product (GDP) and the IMF rank it as seventh for GDP per capita with the average unemployment rate for the working population age is. The National Institute for Economic Research has forecast GDP growth at around 2.5% a year. The main import origins are Germany (around $26B), Denmark (around $12B), the Netherlands ($12B), Norway ($11B) and the United Kingdom (almost $9B).

It is estimated that Sweden is the eleventh easiest country to do business according to the World Bank. There are many British companies operating in Sweden, including well known companies like BP, British Airways, GlaxoSmithKline, Burberry, BAE Systems and Royal Bank of Scotland. There are many benefits in exporting to Sweden as it is a stable economy, the workforce is educated and skilled, they are a pioneer in new technologies, English being widely used as business language, it being a geographical hub in the Nordic Region, strong currency, friendly business environment and Swedes are very open-minded. For an expats guide for starting up a business in Sweden, we’d recommend

Sweden Country Profile

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

Sweden Exports Profile

Exports ($m USD)

153,106

Number of Export Products

4,288

Number of Export Partners

227

Top 5 export partners

Country

Trade

% Partner Share

Germany

16,351

10.68

Norway

15,432

10.08

Finland

10,517

6.87

Denmark

10,441

6.82

United States

10,078

6.58

Top 5 Export Products at HS 6 digit level

Export Product

Number

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

5.9%

Other medicaments of mixed or unmixed products,

5.1%

Automobiles with reciprocating piston engine di

4.0%

Transmission apparatus, for radioteleph incorpo

3.7%

Automobiles with diesel engine displacing more

2.8%

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

%

Product 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

Importing from Sweden: What is trade finance?

Sweden is a strong economy with an average unemployment rate for persons of working age at almost 8%. It is a member of the European Union (EU) is ranked as the twenty-second in the world for Gross Domestic Product (GDP) and the IMF rank it as seventh for GDP per capita with the average unemployment rate for the working population age is. The National Institute for Economic Research has forecast GDP growth at around 2.5% a year. The main import origins are Germany (around $26B), Denmark (around $12B), the Netherlands ($12B), Norway ($11B) and the United Kingdom (almost $9B).

It is estimated that Sweden is the eleventh easiest country to do business according to the World Bank. There are many British companies operating in Sweden, including well known companies like BP, British Airways, GlaxoSmithKline, Burberry, BAE Systems and Royal Bank of Scotland. There are many benefits in exporting to Sweden as it is a stable economy, the workforce is educated and skilled, they are a pioneer in new technologies, English being widely used as business language, it being a geographical hub in the Nordic Region, strong currency, friendly business environment and Swedes are very open-minded. For an expats guide for starting up a 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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