What is the value of US trade with Sweden?
Updated annually
$23.3 billion in imports and $16.6 billion in exports in 2024. That means that the US imported $6.71 billion more from Sweden than we exported to it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$23.3B
Value of imports from Sweden to the US (2024)
$16.6B
Value of exports from the US to Sweden (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Sweden as the US’ 30th top trading partner: In 2024, the US traded $39.9 billion in goods and services with Sweden. Countries with similar trade values include Indonesia ($42.9B) and Saudi Arabia ($39.8B).
In 2024, the US traded $39.9 billion in goods and services with Sweden.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade deficit with Sweden every year from 1999 through 2024. The 2024 deficit was $6.71 billion, an increase from 2023's deficit of $6.67 billion.
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The trade deficit with Sweden increased to $6.71B in 2024.
Annual trade balance with Sweden, not adjusted for inflation
In 2024, 77.3% of imports from Sweden to the US were goods. The largest category was capital goods (tools used for the production process, like machinery and equipment), accounting for $5.82 billion. The top three imports were capital goods, automotive vehicles and parts, and industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic). These categories accounted for $13.8 billion of total imports.
The other 22.7% were services, with use of intellectual property being the largest service category. Use of intellectual property accounted for $1.81 billion.
Capital goods made up 24.9% of US imports from Sweden in 2024.
US imports from Sweden by category (2024)
In 2024, more US exports to Sweden were goods — 51%. The largest export was industrial supplies and materials, which accounted for a value of $3.3 billion. The top three exports were industrial supplies and materials, capital goods, and consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones). These categories accounted for $7.28 billion of exports to Sweden.
The other 49% were services, with business services being the largest service category. Business services (like R&D, consulting, and tech services) accounted for $3.74 billion.
Business services made up 22.5% of US exports to Sweden in 2024.
US exports to Sweden by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
