Imports

In 2022, the Kingdom of Sweden imported $202.2 billion worth of products from around the world. The dollar value of Swedish imports increased by 8.1% from 2021 to 2022, from $187.1 billion.

Swedish Trading Partner

From a continental perspective, 80.5% of Sweden's total imports (by value) are purchased from other European countries. Asian trading partners supply another 13.2% of Sweden's imports.

Smaller shares come from North America (3.9%), Africa (1.2%), Latin America (0.8%) (excluding Mexico but including the Caribbean), and then Oceania (0.4%), led by Australia.

Sweden's Top 10 Imported Products

1. Fossil fuels including oil: $28.4 billion (14% of total imports)

2. Machinery, including computers: $24.8 billion (12.3%)

3. Motors and equipment: US$24.1 billion (11.9%)

4. Vehicles: $19.9 billion (9.8%)

5. Plastics, plastic products: $7.3 billion (3.6%)

6. Steel: $6.7 billion (3.3%)

7. Drugs: $6.4 billion (3.2%)

8. Fish: $5.8 billion (2.9%)

9. Steel products: $5.4 billion (2.7%)

10. Optics, technology, medical devices: $5.2 billion (2.5%)

Sweden's top ten imports account for approximately two-thirds (66.2%) of the total value of products it purchases from other countries.

Double-digit increases among Sweden's main import categories were fossil fuels, including petroleum (up 55.6% compared to 2021), steel products (up 19.5%), metal steel (up 15.5%) and imported fish (up 11.2%). The smallest year-on-year increase was a 2.4% increase in spending on imported cars in Sweden.

Looking at the more detailed four-digit HS code, Sweden's most valuable imported products are crude oil (accounting for 7.4% of Sweden's total imports), automobiles (4.8%), processed petroleum (4.4%), and phones including smartphones. equipment (3.4%) and automotive parts or accessories (2.9%).

Exports

In 2022, Sweden shipped $197.8 billion worth of products globally. The total value of Swedish exports increased by 4.2% from $189.8 billion in 2021.

Sweden's 5 most valuable exports are processed petroleum, cars, and dosage mixtures of pharmaceuticals. blood components (including antisera) and telephone devices (including smartphones).

Largest Trading Partner Buys Swedish Exports

The latest country-specific data shows that Swedish exports are mainly purchased by importers from the following countries: Norway (10.7% of Sweden's total), Germany (10%), the United States (8.9%), Denmark (7.5%), Finland ( 7.3%), the United Kingdom (5.4%), the Netherlands (4.8%), Poland (4%), France (3.9%), Belgium (3.6%), mainland China (3.5%) and Italy (3%).

Sweden's Top 10 Export Products

1. Machinery including computers: US$27.5 billion (accounting for 13.9% of total exports)

2. Vehicles: $24.3 billion (12.3%)

3. Fossil fuels including oil: $21.5 billion (10.9%)

4. Motors and equipment: US$16.8 billion (8.5%)

5. Drugs: $13.3 billion (6.7%)

6. Paper and paper products: US$9.9 billion (5%)

7. Steel: $9.1 billion (4.6%)

8. Plastics, plastic products: $7 billion (3.6%)

9. Timber: $6.2 billion (3.2%)

10. Fish: $5.2 billion (2.6%)

Sweden's top ten export products account for more than two-thirds (71.2%) of its total global export value.

Fossil fuels, including oil, are the fastest growing among the top ten export categories, rising 63% from 2021 to 2022. The second largest export sales improvement was pharmaceuticals, which increased by 18.5%. Swedish Metal Steel had the third-largest increase in shipments, up 12.2%.

The largest decline among Sweden's top ten export categories was timber, which fell -5.3% year-on-year.

According to the more detailed four-digit HS code, Sweden’s top ten export products are:

1. Processing oil (9.16%, $13.01 Billion)

2. Cars (8.47%, $12.03 Billion)

3. Drug Mixed Dosage (5.47%, $7.77 Billion)

4. Blood components (including antiserum) (3.53%, $5.01 Billion)

5. Telephone equipment, including smartphones (3.5%, $4.97 Billion)

6. Saw timber (3.44%, $4.88 Billion)

7. Auto parts/accessories (3.34%, $4.75 Billion)

8. Electricity (3.32%, $4.71 Billion)

9. Whole fish (fresh) (2.82%, $4 Billion)

10. Iron ore, concentrate (2.61%, $3.71 Billion)

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