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In 2020, the Kingdom of Sweden imported 149.8 billion dollars in goods from throughout the world, increasing 6.3 percent from 2016, but down by minus 5.8 percent from 2019 to 2020.
The Swedish krona has declined by minus 7.6 percent against the US dollar since 2016, but has strengthened by 2.6 percent from 2019 to 2020, according to the average exchange rate for 2020.
Since 2019, Sweden's stronger local currency has made goods paid in weaker US dollars less expensive when converted from the Swedish krona.
From a continental viewpoint, other European countries accounted for 83 percent of Sweden's total imports by value.
12.1 percent of Sweden's imports came from Asian trading partners.
North America got 3.2 percent, Latin America got 0.63 percent omitting Mexico but including the Caribbean, Africa got 0.62 percent, and Oceania with 0.2 percent, led by Australia, received smaller percentages.
Given Sweden's population of 10.4 million people, the country's total 149.8 billion dollars in 2020 imports equates to around 14,400 dollars in annual product demand from each individual.
The following product groupings account for the majority of Sweden's import purchases in 2020.
The percentage share of each product category in terms of total imports into Sweden is also given.
20.5 billion dollars in machinery, including computers, accounted for 13.7 percent of total imports
20.1 billion dollars in electrical machinery and equipment accounted for 13.4 percent
16.7 billion dollars in vehicles stands at 11.1 percent
Mineral fuels, which include oil, are worth 11.7 billion dollars which is 7.8 percent
5.6 billion dollars in plastics and plastic items is 3.7 percent
5.5 billion dollars in pharmaceuticals account for 3.6 percent
4.7 billion dollars in fish stands at 3.1 percent
4.5 billion dollars in optical, technical, and medical equipment accounts for 3 percent
3.8 billion dollars in iron and steel articles stands at 2.5 percent
3.7 billion dollars on furniture, bedding, lighting, signage, and prefabricated buildings is equivalent to 2.5 percent
Sweden's top ten imports accounted for nearly two-thirds of the total value of its goods purchases from other nations which is 64.6 percent.
Pharmaceuticals went up by 12.5 percent, optical, technological, and medical gear was up by 12.1 percent, and furniture, bedding, lighting, signage, and prefabricated constructions all had double-digit cost increases from 2019 to 2020.
Mineral fuels, including oil, were the biggest losers year over year, falling by minus 30.5 percent.
Sweden's Top Exports
The Kingdom of Sweden, a Scandinavian nation in Northern Europe bounded to the west by Norway, Finland to the east, and connected to Denmark via a tunnel connecting its southwest to Denmark, exported 155.6 billion dollars worth of goods around the world in 2020.
This figure represents an increase of 11.7 percent from 2016, but a decrease of minus 3.1 percent from 2019 to 2020.
The Swedish krona has declined by minus 7.6 percent against the US dollar since 2016, but has strengthened by 2.6 percent from 2019 to 2020, according to the average exchange rate for 2020.
Since 2019, Sweden's higher local currency has made Swedish exports paid for in weaker US dollars more affordable for overseas purchasers.
According to the most recent data available, importers in Norway accounted for 10.6 percent of the global total, Germany with 10.4 percent, the United States with 8.1 percent, Denmark with 7.6 percent, Finland with 7 percent, China with 5.4 percent, the Netherlands with 5.1 percent, the United Kingdom with 5.1 percent, France with 4 percent, Belgium with 3.5 percent, Poland with 3.3 percent, and Italy purchased 72.7 percent of Swedish exports.
From a continental viewpoint, 69.8 percent of Sweden's exports were delivered to other European countries, while 14.1 percent were sold to Asian buyers.
Sweden's exports to North America increased by 9.2 percent.
Africa got 1.8 percent, Latin America excluding Mexico but includes the Caribbean got 1.3 percent, and Oceania headed by Australia received smaller percentages of 1.2 percent.
Given Sweden's population of 10.4 million people, the country's total 155.6 billion dollars in 2020 exports equates to about 15,000 dollars for each citizen.
In terms of dollar value, the following export product groups will account for the majority of Swedish global shipments in 2020.
The percentage share of each export category in terms of total exports from Sweden is also indicated.
24.5 billion dollars in machinery, including computers, account for 15.7 percent of total exports
21.3 billion dollars in vehicles account for 13.7 percent
15.4 billion dollars in electrical machinery and equipment stands at 9.9 percent
11.6 billion dollars in pharmaceuticals accounts for 7.5 percent
8.4 billion dollars in paper and paper products account for 5.4 percent
Mineral fuels, including oil, are worth 7.6 billion dollars stands at 4.9 percent
5.8 billion dollars in iron and steel stands at 3.7 percent
5.4 billion dollars in plastics and plastic goods account for 3.4 percent
4.4 billion dollars in wood stands at 2.8 percent
4.3 billion dollars in optical, technical, and medical equipment account for 2.7 percent
Sweden's top ten exports accounted for nearly two-thirds of the total value of its global shipments which is 69.8 percent.
Pharmaceuticals are the fastest-growing export category among the top ten, with a 13.7 percent increase from 2019 to 2020.
Wood came in second, with a 12.1 percent increase in export sales.
Sweden's electrical machinery and equipment shipments grew at the third-fastest rate, increasing by 9.3 percent.
Mineral fuels, including oil, were the main decliner among Sweden's top 10 export categories, with a minus 26 percent reduction year over year.
Sweden's declining foreign crude oil income weighed on this product category year over year.
Sweden's Top Trading Partners
Sweden is a country in northern Europe that borders Norway and Finland and is connected to Denmark by a bridge tunnel.
The Kingdom of Sweden is its official name.
In 2020, Sweden exported items worth 155.6 billion dollars around the world.
This figure represents an increase of 11.7 percent from 2016, but a decrease of minus 3.1 percent from 2019 to 2020.
According to a continental perspective, 69.8 percent of Sweden's exports were delivered to European countries, while 14.1 percent were sold to Asian importers.
Sweden's exports to North America increased by 9.2 percent.
Africa got 1.8 percent, Latin America excluding Mexico but including the Caribbean got 1.3 percent, and Oceania headed by Australia received smaller percentages got 1.2 percent.
Here is a list of 15 of Sweden's most important trading partners in terms of export sales.
That is, in terms of dollar value, the nations that imported the most Swedish shipments in 2020.
The percentage of total Swedish exports for each import nation is also indicated.
Norway: 16.4 billion dollars accounts for 10.6 percent of total exports in Sweden
16.1 billion dollars in Germany stands at 10.4 percent
12.6 billion dollars in the United States which accounts for 8.1 percent
Export to Denmark is worth 11.8 billion dollars which is 7.6 percent
Export to Finland is worth 10.9 billion dollars which is 7 percent
8.4 billion dollars in China stands at 5.4 percent
8 billion dollars in the Netherlands account for 5.1 percent
The United Kingdom has 7.9 billion worth of Sweedish imports which is 5.1 percent
6.3 billion dollars export to France stands at 4 percent
Belgium's export is worth 5.4 billion dollars which is 3.5 percent
Poland is worth 5.2 billion dollars which stands at 3.3 percent
4.1 billion dollars in Italy stands at 2.6 percent
Spain is worth 2.8 billion dollars which is 1.8 percent
2.4 billion dollars in Japan accounts for 1.6 percent
1.9 billion dollars for Russia stands at 1.2 percent
In 2022, the previously mentioned trading partners will account for more than three-quarters or 77.3 percent of Swedish exports.
China went up by 12 percent, Denmark was up by 6.2 percent, and the United States which came up by 6.2 percent are three of Sweden's main clients who boosted their consumption of Swedish goods from 2019 to 2020.
Belgium went down by minus 13.7 percent, Russia was down by minus 12.4 percent, and Spain all had double-digit decreases year over year down by minus 10.2 percent.
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