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Trade Profile

In this page: Foreign Trade in Figures | Trade Compliance | Standards

 

Foreign Trade in Figures

Sweden is very open to foreign trade, which represents nearly 84% of its GDP (2016). The EU is reinforcing its position as its primary trade partner. In general, half of the exports are destined for the EU, from which the country also receives the majority of its imports. Trade with neighbouring countries such as Norway, Germany, the United Kingdom and Finland has increased, while exports to China and India have shown a substantial decline. The country mainly exports and imports hydrocarbons, vehicles, medicine, electronics (telephony), wood and fish by-products.

The Swedish balance of trade is positive and should remain so despite the uncertain climate of international trade. The surplus fell and the balance of trade registered a deficit of SEK 6.8 billion in 2016. Exports grew by 3,4% compared to 2015, whilst imports grew by 3,7%.

 
Foreign Trade Indicators 20122013201420152016
Imports of Goods (million USD) 164,436160,609162,217137,625140,347
Exports of Goods (million USD) 172,345167,550164,362139,889139,539
Imports of Services (million USD) 55,49859,40266,46559,54260,933
Exports of Services (million USD) 65,42371,32075,58070,98071,773
Imports of Goods and Services (Annual % Change) 0.5-0.16.35.53.7
Exports of Goods and Services (Annual % Change) 1.0-0.85.35.63.4
Imports of Goods and Services (in % of GDP) 41.439.340.740.839.8
Exports of Goods and Services (in % of GDP) 46.343.845.045.644.4
Trade Balance (million USD) 21,94818,57117,54113,52011,804
Foreign Trade (in % of GDP) 87.783.185.886.484.2

Source: World Trade Organisation (WTO) - 2017; World Bank - 2017

 

Main Partner Countries

Main Customers
(% of Exports)
2016
Germany 10.2%
Norway 10.1%
United States 7.0%
Denmark 7.0%
Finland 6.7%
United Kingdom 5.9%
Netherlands 5.3%
Belgium 4.5%
France 4.3%
China 3.8%
Main Suppliers
(% of Imports)
2016
Germany 18.8%
Netherlands 8.3%
Norway 8.2%
Denmark 7.6%
United Kingdom 5.2%
Belgium 4.8%
China 4.6%
Finland 4.6%
France 4.1%
Poland 3.7%

Source: Comtrade, 2017

 

Main Products

139.6 bn USD of products exported in 2016
Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 5.3%
Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 4.6%
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.0%
Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 3.6%
Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 2.6%
Fish, fresh or chilled (excl. fish fillets and other fish meat of heading 0304) 2.5%
Wood sawn or chipped lengthwise, sliced or barked, whether or not planed, sanded or end-jointed, of a thickness of > 6 mm 2.0%
Paper and paperboard, coated on one or both sides with kaolin china clay or other inorganic substances, whith or without a binder, and with no other coating, whether or not surface-coloured, surface-decorated or printed, in rolls or in square or rectangular sheets, of any size (excl. all other coated papers and paperboards) 2.0%
Compression-ignition internal combustion piston engine diesel or semi-diesel engines 1.6%
Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras 1.5%
140.7 bn USD of products imported in 2016
Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 6.2%
Petroleum oils and oils obtained from bituminous minerals, crude 4.2%
Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 3.9%
Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 3.5%
Fish, fresh or chilled (excl. fish fillets and other fish meat of heading 0304) 2.5%
Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 2.5%
Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras 2.4%
Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 2.1%
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 1.9%
Motor vehicles for the transport of goods, incl. chassis with engine and cab 1.1%

Source: Comtrade, 2017

 
 
 

Main Services

169.4 bn USD of services exported in 2014
Other business services
36.61%
Computer and information services
16.66%
Travel
15.00%
Transportation
12.34%
Royalties and license fees
10.76%
Financial services
3.14%
Communications services
2.43%
Insurance services
1.13%
Construction services
0.95%
Cultural and recreational services
0.53%
Government services
0.46%
129.4 bn USD of services imported in 2014
Other business services
34.30%
Travel
28.63%
Transportation
11.64%
Computer and information services
8.62%
Royalties and license fees
6.02%
Communications services
3.77%
Construction services
3.57%
Financial services
2.13%
Cultural and recreational services
0.62%
Insurance services
0.40%
Government services
0.31%

Source: United Nations Statistics Division, Latest Available Data

 

Exchange Rate System

Local Currency
Swedish Krona (SEK)
Exchange Rate Regime
Floating exchange regime.
Level of Currency Instability
Very limited exchange risk since the Swedish krona is a major currency.
 
 
Monetary Indicators 20112012201320142015
Swedish Krona (SEK) - Average Annual Exchange Rate For 1 USD 6.496.786.516.868.43

Source: World Bank - Latest available data.

 
 

Trade Compliance

International Conventions
Member of World Trade Organisation
Member of OECD
Party to the Kyoto Protocol
Party to the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora
Party to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal
Party to the Montreal Protocol on Substances That Deplete the Ozone Layer
Party to the Wassenaar Arrangement on Export Controls For Conventional Arms and Dual-Use Goods and Technologies
Party of the International Coffee Agreement 2007
Main International Economic Cooperation
Member of the European Union
Member of the European Economic Area
which guarantees, since 1 January 1993, the free movement of most goods between European countries.
Multilateral agreements and bilateral agreements with many countries.
Party of the ATA Convention on Temporary Admissions and Use of the Carnets
Yes

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.
Look Up the Other Member Countries And Read the Web Pages of the World Customs Organization Devoted to the ATA Carnet.
Party of the TIR Convention
Yes

As a Reminder, the TIR Convention and its Transit Regime Contribute to the Facilitation of International Transport, Especially International Road Transport, Not Only in Europe and the Middle East, But Also in Other Parts of the World, Such as Africa and Latin America.
The UNCTAD Website Allows You to Read the TIR Convention, See the List of Member Countries And to Find Further Information.
Accompanying Documents For Imports
Goods coming into a country of the European Union from another country in the Community are exempt from customs duties and customs formalities. The documents which must accompany goods moving between EU countries are the following:
- the commercial invoice (at least in duplicate, it must contain the intracommunity VAT number of the operator who is carrying out the delivery, that of the buyer by which he is identified in the country of delivery, it must mention "VAT exemption, art. 262 b-1 of the CGI")
- the delivery note (not compulsory)
- the sanitary and phytosanitary certificate (for live animals).
- the single administrative document (SAD) for trade with overseas Departments as well as with the Channel Islands and the Canaries.

In the case of temporary export within the EU, the ATA carnet and the Community carnet are no longer necessary. It is enough to keep a register listing the temporary shipments.

Concerning transport, no transport documents are required for intracommunity trade. However, in the case of goods transiting or destined for one of the EFTA countries (Iceland, Norway, Liechtenstein and Switzerland), form T2 should be produced or a copy A (computerized transit). In the same way, goods transiting or destined for the Channel Islands or the Canaries must be accompanied by form T2F.

Free Zones
There are no customs free zones in Sweden at this time.
For Further Information
Tullverket Swedish Customs
Ministry of Finance
Non Tariff Barriers
As it is a member of the European Union, Sweden applies the Community regulations which are valid throughout the Union. The EU has quite a liberal foreign trade policy. However, there are a certain number of restrictions, especially at the level of agricultural products, ensuing from the implementation of the CAP (Common Agricultural Policy): applying compensations when importing and exporting agricultural products to favour the development of agriculture within the EU implies a certain number of systems to control and regulate goods entering EU territory.

Moreover, GMOs allowed in Europe must - for sanitary reasons - be systematically specified as such on packaging. It is also prohibited to import beef fed on hormones. The BSE crisis (called "mad cow disease") has encouraged the European authorities to reinforce phytosanitary measures to ensure the quality of meat entering and circulating in EU countries. The principle of precaution is now more widely favored: in case of doubt, import is prohibited until the innocuousness of the goods is proved.
Sectors or Products For Which Commercial Disagreements Have Been Registered With the WTO
Intellectual property.
Assessment of Commercial Policy
Webpages of the WTO on Sweden
Barriers to exchanges, inventoried by the United States

Learn more about How to Export to Sweden on Globaltrade.net, the Directory for International Trade Service Providers.

 

Standards

National Standards Organisations
Swedish Standards Institute (Standardiseringen i Sverige)
Swedish Organisation for Telecommunications Standards (in Swedish)
Swedish Committee for Electrotechnical Standards
Integration in the International Standards Network
Member of the International Organisation for Standardisation (ISO)
Member of the International Telecommunications Union (ITU)
Member of the International Electrotechnical Commission(IEC)
Member of theEuropean Committee for Standardisation (CEN)
Member of the European Telecommunications Standards Institute (ETSI)
Obligation to Use Standards
Conforming to standards is obligatory depending on the product. Although they are optional, ISO 9000 standards are a factor in competitiveness.
Classification of Standards
ISO and IEC standards, as well as ASTM, DIN, BSI, ASME, SAE, IEEE, API, ANSI, UL, MIL

For further information, consult the SIS website.
Assessment of the System of Standardization
Swedish people are receptive to standards being observed.
Online Consultation of Standards
SIS catalog
SEK catalog
ISO
catalog
IEC catalog
Certification Organisations
Swedish Board for Accreditation and Conformity Assessment
SP Technical Research Institute of Sweden
SEMKO-DEKRA (in Swedish) (Quality and environmental certification).
Associations of Standards Users
Consumer association

 

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Last Updates: September 2017