Sweden

Sweden ranked No. 33 in total trade value through June with a total of $8.25 billion. Exports totaled $2.33 billion and Imports totaled $5.91 billion, a deficit of $3.58 billion.

U.S. trade with Sweden rose to $8.25 billion through June

Sweden’s trade with the United States rose to $8.25 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 0.03 percent above its total trade during the same time period last year. U.S. exports to Sweden increased 12.25 percent while U.S. imports from Sweden fell 4.09 percent. The U.S. deficit with Sweden was $3.58 billion.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Chicago O’Hare International Airport; No. 3 John F. Kennedy International Airport; No. 4 Port of Baltimore, Md.; and No. 5 Port of Charleston. 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 42.96 percent of Sweden’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 5.36 percent to $1.06 billion.
    Exports fell 20.52 percent to $88.43 million. Imports rose 8.57 percent to $973.19 million.
  • Trade with No. 2 Chicago O’Hare International Airport rose 17.57 percent to $730.81 million.
    Exports rose 23.67 percent to $172.97 million. Imports rose 15.79 percent to $557.84 million.
  • Trade with No. 3 John F. Kennedy International Airport rose 26.33 percent to $659.27 million.
    Exports fell 17.32 percent to $86.38 million. Imports rose 37.25 percent to $572.88 million.
  • Trade with No. 4 Port of Baltimore, Md. fell 15.08 percent to $633.31 million.
    Exports fell 1.6 percent to $49.28 million. Imports fell 16.05 percent to $584.04 million.
  • Trade with No. 5 Port of Charleston rose 5.44 percent to $457.89 million.
    Exports rose 18.23 percent to $65.65 million. Imports rose 3.56 percent to $392.24 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. 34.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Sweden by value through June were the categories of Oil; Plasma, vaccines, blood; Low value shipments; Civilian aircraft, parts; and Medical equipment for physicals, respectively. They accounted for 36.88 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; Misc. medical chemical re-agents; and Gasoline, other fuels –– accounted for 35.41 percent of all inbound shipments.

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

  • Oil totaled $325.32 million. The previous year, there were no exports in this category.
  • Plasma, vaccines, blood rose 48.73 percent compared to last year to $246.46 million.
  • Low value shipments rose 13.16 percent compared to last year to $118.74 million.
  • Civilian aircraft, parts fell 44.56 percent compared to last year to $90.44 million.
  • Medical equipment for physicals rose 140.41 percent compared to last year to $79.85 million.

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

  • Passenger vehicles fell 2.03 percent compared to last year to $924.3 million.
  • Medicines in individual dosages rose 256.06 percent compared to last year to $493.64 million.
  • Plasma, vaccines, blood rose 185.1 percent compared to last year to $261.96 million.
  • Misc. medical chemical re-agents rose 22.85 percent compared to last year to $218.02 million.
  • Gasoline, other fuels fell 23.98 percent compared to last year to $196.28 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.