Sweden

Sweden ranked No. 33 in total trade value through April with a total of $5.78 billion. Exports totaled $1.67 billion and Imports totaled $4.11 billion, a deficit of $2.44 billion.

U.S. trade with Sweden rose to $4.47 billion through March

Sweden’s trade with the United States rose to $4.47 billion through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.87 percent above its total trade during the same time period last year. U.S. exports to Sweden increased 22.77 percent while U.S. imports from Sweden rose 6.7 percent. The U.S. deficit with Sweden was $1.9 billion.

Through March, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Port of Baltimore, Md.; No. 3 Chicago O’Hare International Airport; No. 4 Port of Charleston; and No. 5 Port of Virginia. During the same period the previous year, the top five were No. 1 Port of Newark No. 2 Port of Baltimore, Md. No. 3 Chicago O’Hare International Airport No. 4 John F. Kennedy International Airport and No. 5 Port of Charleston. In the current time period, the top five accounted for 40.02 percent of Sweden’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 19.43 percent to $607.11 million.
    Exports rose 18.49 percent to $63.9 million. Imports rose 19.55 percent to $543.21 million.
  • Trade with No. 2 Port of Baltimore, Md. rose 0.54 percent to $382.91 million.
    Exports rose 46.86 percent to $30.34 million. Imports fell 2.12 percent to $352.57 million.
  • Trade with No. 3 Chicago O’Hare International Airport rose 11.93 percent to $339.69 million.
    Exports rose 36.46 percent to $95.93 million. Imports rose 4.54 percent to $243.76 million.
  • Trade with No. 4 Port of Charleston rose 8.58 percent to $234.77 million.
    Exports rose 29.58 percent to $39.46 million. Imports rose 5.14 percent to $195.31 million.
  • Trade with No. 5 Port of Virginia rose 6.88 percent to $222.53 million.
    Exports rose 16.27 percent to $141.13 million. Imports fell 6.25 percent to $81.39 million.

Sweden ranked No. 33 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 35.

Meanwhile, total U.S. trade with the world increased to $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Sweden by value through March were the categories of Oil; Plasma, vaccines, blood; Low value shipments; Civilian aircraft, parts; and Medical equipment for physicals, respectively. They accounted for 37.52 percent of total exports to Sweden.

The value of the top five categories of U.S. imports from Sweden –– Passenger vehicles; Medicines in individual dosages; Plasma, vaccines, blood; Gasoline, other fuels; and Misc. medical chemical re-agents –– accounted for 37.74 percent of all inbound shipments.

Looking more closely at U.S. exports to Sweden:

  • Oil totaled $186.33 million. The previous year, there were no exports in this category.
  • Plasma, vaccines, blood rose 41.78 percent compared to last year to $135.15 million.
  • Low value shipments rose 24.05 percent compared to last year to $65.55 million.
  • Civilian aircraft, parts fell 39.51 percent compared to last year to $56.95 million.
  • Medical equipment for physicals rose 171.31 percent compared to last year to $37.74 million.

Looking more closely at U.S. imports from Sweden:

  • Passenger vehicles rose 32.79 percent compared to last year to $619.2 million.
  • Medicines in individual dosages rose 252.57 percent compared to last year to $222.82 million.
  • Plasma, vaccines, blood rose 148.17 percent compared to last year to $138.48 million.
  • Gasoline, other fuels rose 29.45 percent compared to last year to $113.95 million.
  • Misc. medical chemical re-agents rose 25.79 percent compared to last year to $106.13 million.

In the latest annual figures available, Sweden recorded $16.5 billion in trade with the United States. Total U.S. exports to Sweden were $ 4.36 billion and imports from Sweden were $12.15 billion. The U.S. deficit with Sweden was $7.79 billion.