A look at Swedish economic and business ties with the United States
This report highlights the magnitude and depth of the economic ties between Sweden and the United States.
The report provides an overview of trade and investments flows, and even more significant, it shows the number of jobs created in the US on a state-by-state level. Sweden directly supports more than 367 000 jobs in the US. Swedish-affiliated companies in the US create 309 977 jobs in the country; export of services from the US to Sweden supports 36 936 jobs; and export of goods from the US to Sweden supports 20 395 jobs—367 308 jobs in total.
The job numbers for businesses in this study are collected from 641 Swedish-affiliated companies in the US. The total number of Swedish-affiliated companies active on the US market is likely more than one thousand. When adding supporting jobs, suppliers, and subcontractors, the number of jobs supported approaches one million.
The Swedish companies accounted for in this study are based in 2 932 locations in all 50 states in the US, as well as Washington DC and Puerto Rico. All 50 states export goods and services to Sweden.
The US is the largest destination for Swedish foreign direct investment. In 2019, Sweden invested more than 61 billion USD in the US. This places Sweden as the 13th largest investor in the US. For comparison, Sweden’s population is only the 91st largest in the world.
Swedish companies’ activities in the US cover a broad range of sectors. Examples include transportation (Volvo), construction (Skanska), telecommunications (Ericsson), pharmaceuticals (AstraZeneca), fashion (H&M), home appliances (Electrolux), furniture and decoration (IKEA), and tech (Spotify).
Swedish companies with the largest employment in the US (listed in order by the number of employees): Securitas, ABB, IKEA, H&M, AstraZeneca, Volvo Group, Assa Abloy, Loomis, Hexagon, Skanska, Ericsson, Autoliv, Atlas Copco, Investor, SKF, Husqvarna.