Sweden - Market OverviewSweden - Market Overview
The Nordic countries (Sweden, Norway, Denmark, Finland, and Iceland) comprise the world’s 12th largest economy (estimated GDP of U.S. $1.38 trillion), and are among the most innovative, competitive, and transparent in the world. Sweden, with a GDP of $551 billion(2018) and a population of 10 million, is the largest Nordic economy and boasts a transparent, highly developed, sophisticated and diversified market with few barriers to entry. According to the World Economic Forum’s Global Competitiveness Report for 2018, Sweden ranks 9th in the world on the Global Competitiveness Index. This is due in part to Sweden’s export-oriented manufacturing sector, competitive SMEs, and budgetary discipline. Sweden also consistently ranks among the top 10 worldwide for its connectivity, governance, investment in R&D, and business climate. As such, many foreign firms establish operations in Sweden when looking to enter or expand into the Nordics and/or the Baltics.
Over 1,300 U.S. companies are present in Sweden, and Sweden is the top location in the Nordics for regional coverage. The United States is Sweden’s largest trading partner outside of the EU. In 2018, U.S. merchandise exports to Sweden were valued at $4.5 billion and imports were $11.4 billion, generating a trade deficit of $6.9 billion (roughly the same deficit level as 2017). The U.S. exported $5.6 billion in services to Sweden in 2017 and imported $3.2 billion, a trade surplus of $2.4 billion.
Major categories of U.S. exports to Sweden include aerospace/defense, automotive aftermarket, telecommunications equipment, healthcare/life sciences, information technologies, safety/security, clean-tech, industrial machines, and renewable energy. More American companies operate in Sweden than companies from any other foreign country, supporting over 72,000 Swedish jobs.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Over 1,300 U.S. companies are present in Sweden, and Sweden is the top location in the Nordics for regional coverage. The United States is Sweden’s largest trading partner outside of the EU. In 2018, U.S. merchandise exports to Sweden were valued at $4.5 billion and imports were $11.4 billion, generating a trade deficit of $6.9 billion (roughly the same deficit level as 2017). The U.S. exported $5.6 billion in services to Sweden in 2017 and imported $3.2 billion, a trade surplus of $2.4 billion.
Major categories of U.S. exports to Sweden include aerospace/defense, automotive aftermarket, telecommunications equipment, healthcare/life sciences, information technologies, safety/security, clean-tech, industrial machines, and renewable energy. More American companies operate in Sweden than companies from any other foreign country, supporting over 72,000 Swedish jobs.