Discusses key economic indicators and trade statistics, which countries are dominant in the market, and other issues that affect trade.
In 2021, U.S. merchandise exports to Sweden were valued at $5.1 billion and imports were $15 billion, generating a trade deficit of $9.8 billion. The U.S. exported $4.95 billion in services to Sweden in 2020 and imported $2.97 billion, generating a trade surplus of $1.98 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.
Sweden’s national strategy focused on attempting to slow the spread of infection through voluntary public health restrictions, such as social distancing, protecting the elderly, and ensuring its health care system maintains adequate intensive care capacity. Sweden never mandated the wearing of face coverings, leaving it only as a recommendation in certain circumstances, and mask-use in Sweden is rare. Primary schools, restaurants, and fitness centers have remained open throughout most of the pandemic.
The pandemic had a strong impact on the Swedish economy, but following several fiscal stimulus packages, a successful vaccination rollout, and a relaxation of pandemic-related restrictions, Sweden’ economy has recovered fully to pre-pandemic levels with no notable impact on the investment climate.
Political & Economic Environment: State Department’s website for background on the country’s political environment