A Scandinavian nation in Northern Europe surrounded by Norway to its west, Finland to its east and connected to Denmark via a tunnel that connects its southwest to Denmark, the Kingdom of Sweden shipped US$195.8 billion worth of exported products around the globe in 2024.

That dollar amount results from a 26.4% gain compared to $154.9 billion five years earlier in 2020.

Year over year, the overall value of Swedish exports declined by -1% from $197.8 billion for 2023.

Sweden’s 5 most valuable exported products are cars, processed petroleum oils, medication mixes in dosage¸ blood fractions including antisera, and automotive parts or accessories. Combined, that quintet of major Swedish exports represents over one-fifth (21.4%) of the Scandinavian country’s total exports.

Based on the average exchange rate for 2024, the Swedish krona appreciated by 0.4% against the US dollar from 2023 to 2024. Sweden’s weaker local currency made its exports paid for in modestly weaker US dollars slightly more expensive for international buyers starting with American currency.

Biggest Trade Partners Buying Sweden’s Exports

The latest available country-specific data shows that 71.3% of products exported from Sweden was bought by importers in: Germany (10% of the Swedish total), Norway (9.6%), United States of America (8.7%), Denmark (6.8%), Finland (6.7%), United Kingdom (5.2%), Netherlands (5.18%), Belgium (4.6%), France (4.1%), Poland (3.8%), mainland China (3.7%) and Italy (2.9%).

From a continental perspective, 72.1% of Sweden’s exports by value was delivered to fellow European countries while 12.4% was sold to importers located in Asia. Sweden shipped another 10.9% worth of goods to buyers in North America.

Smaller percentages went to customers in Africa (2%), Latin America (1.6%) excluding Mexico but including the Caribbean, then Oceania (1%) led by Australia and New Zealand.

Note that over half (53.1%) of Sweden’s exports was bought by fellow members of the European Union.

Given Sweden’s population of 10.65 million people, its total $195.8 billion in 2024 exports translates to roughly $18,400 for every resident in the north European nation. That dollar metric exceeds the average $18,300 per capita in 2023.

Sweden’s Top 10 Exports

The following export product groups represent the highest dollar value in Swedish global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Sweden.

1. Machinery including computers: US$28.4 billion (14.5% of total exports)
2. Vehicles: $26.5 billion (13.5%)
3. Electrical machinery, equipment: $18 billion (9.2%)
4. Mineral fuels including oil: $13.9 billion (7.1%)
5. Pharmaceuticals: $13.5 billion (6.9%)
6. Paper, paper items: $9.4 billion (4.8%)
7. Iron, steel: $7.1 billion (3.6%)
8. Plastics, plastic articles: $6.7 billion (3.4%)
9. Fish: $5.2 billion (2.7%)
10. Optical, technical, medical apparatus: $4.9 billion (2.5%)

Sweden’s top 10 export product categories generated over two-thirds (68.2%) of the overall value of total Swedish shipments.

Plastics, both as materials plus articles made from plastic, was the fastest grower among the top 10 export categories, up by 8.5% from 2023 to 2024.

In second place for improving export sales was optical, technical and medical apparatus via a 5.1% advance.

Sweden’s shipments of paper including products made from paper items posted the third-fastest gain in value, up by 4.2%.

The leading decliner among Sweden’s top 10 export categories was iron or steel recording a -11.1% year-over-year revenue drop.

Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, explore the following section.

Searchable List of Sweden’s Most Valuable Export Products

The following searchable table displays 100 of the most in-demand goods shipped from Sweden during 2024. Shown beside each product label is its total export value then the percentage increase or decrease since 2023.

These 100 exported goods were worth a subtotal of US$138.2 billion or 70.6% by value for all products exported from Sweden during 2024.

Products Generating Sweden’s Biggest Trade Surpluses

Sweden earned an overall US$6.8 billion trade surplus for 2024, growing by 42.8% from $4.75 billion of black ink one year earlier in 2023.

The following types of Swedish product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Paper, paper items: US$7.7 billion (Up by 4.3% since 2023)
2. Vehicles: $6.6 billion (Up by 19.5%)
3. Pharmaceuticals: $6.1 billion (Down by -14.3%)
4. Machinery including computers: $4.6 billion (Down by -4.9%)
5. Iron, steel: $2.7 billion (Down by -8.2%)
6. Wood: $2.3 billion (Up by 2.2%)
7. Woodpulp: $2.3 billion (Down by -15.3%)
8. Ores, slag, ash: $1.8 billion (Down by -26.9%)
9. Copper: $1.7 billion (Up by 16.5%)
10. Other chemical goods: $1 billion (Up by 3.3%)

Sweden has highly positive net exports in the international trade of pulp and paper. In turn, these cashflows indicate Sweden’s strong competitive advantages under the paper and related products category.

Products Causing Sweden’s Worst Trade Deficits

Below are exports from Sweden that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Sweden’s goods trail Swedish importer spending on foreign products.

1. Electrical machinery, equipment: -US$6 billion (Down by -17.3% since 2023)
2. Mineral fuels including oil: -$5.6 billion (Down by -17.9%)
3. Inorganic chemicals: -$2 billion (Up by 6.4%)
4. Knit or crochet clothing, accessories: -$1.1 billion (Up by 13.5%)
5. Meat: -$1 billion (Down by -0.02%)
6. Fruits, nuts: -$964.1 million (Up by 7.4%)
7. Beverages, spirits, vinegar: -$906.3 million (Up by 7.1%)
8. Clothing, accessories (not knit or crochet): -$897.3 million (Up by 3.2%)
9. Articles of iron or steel: -$881.8 million (Down by -14.5%)
10. Vegetable/fruit/nut preparations: -$783.5 million (Up by 3.2%)

Sweden has highly negative net exports and therefore deep international trade deficits under the electrical machinery and equipment product category.

These cashflow deficiencies clearly indicate Sweden’s competitive disadvantages in the international electronics market, but also represent key opportunities for Sweden to improve its position in the global economy through focused innovations.

Sweden’s Major Export Companies

Twenty-six corporations rank among Forbes Global 2000. Below is a sample of the major Swedish companies that Forbes included.

Alfa Laval (miscellaneous industrial equipment)

Assa Abloy (miscellaneous industrial equipment)

Atlas Copco (miscellaneous industrial equipment)

Autoliv (automotive parts)

Electrolux Group (household appliances)

Ericsson (communications equipment)

Hexagon (miscellaneous industrial equipment)

Sandvik (miscellaneous industrial equipment)

SCA (household, personal care)

SKF Group (miscellaneous industrial equipment)

Volvo Group (heavy equipment)

 
According to global trade intelligence firm Zepol, the following smaller exporters from Sweden.

• Bulten Sweden (automotive parts, screws/bolts/nuts)
• First Cargo Sweden (automobiles, bicycles, rubber tires)
• Gelita Sweden (gelatin, salted/smoked meat, peptones/other proteins)
• Kappahl (textile footwear, clothing)
• Kendrion Hagalund (automotive parts, smoking tobacco, titanium dioxide pigments)

 
In macroeconomic terms, Sweden’s total exported goods represent 25.6% of its overall Gross Domestic Product for 2024 ($763.6 billion valued in Purchasing Power Parity US dollars). That 25.6% for exports to overall GDP in PPP for 2024 compares to 27.7% one year earlier. The latest percentage suggests a relatively decreasing reliance on products sold on international markets for Sweden’s total economic performance, albeit based on a short timeframe.

Another key indicator of a country’s economic performance is its unemployment rate. Sweden’s unemployment rate averaged 8.508% for 2024, up from an average 7.667% in 2023 according to International Monetary Fund statistics.

Sweden’s capital city is Stockholm.

See also Sweden’s Top 10 Imports, Sweden’s Top Trading Partners and European Union’s Top 10 Exports

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on April 3, 2025

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 3, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 3, 2025

International Trade Centre, Trade Map. Accessed on April 3, 2025

Investopedia, Net Exports Definition. Accessed on April 3, 2025

Wikipedia, Gross domestic product. Accessed on April 3, 2025

Wikipedia, List of Companies of Sweden. Accessed on April 3, 2025

Wikipedia, Purchasing power parity. Accessed on April 3, 2025

Wikipedia, Sweden. Accessed on April 3, 2025

X-rates.com, Exchange Rates: Swedish Krona to US Dollar (monthly average 2024). Accessed on April 3, 2025

Zepol’s company summary highlights by country. Accessed on April 3, 2025