The United States is the top destination for Swedish foreign direct investment, which reached more than 61 billion USD in 2019. That makes Sweden the 13th overall largest investor in the US, while Sweden is just the 91st largest country by population. Swedish investments in the US are more than twice the size of Swedish investments in Asia, and almost five times that of Swedish foreign direct investment in China.
The US is Sweden’s most important export partner outside Europe, with a total annual export of goods and services of 192 billion USD. In 2019, the US was Sweden’s third largest export market in both goods and services. The value of Sweden’s exports to the US in 2020 was 12.5 billion USD in goods and 3 billion USD in services.
The three most imported goods to the US from Sweden in 2020 were transport equipment, including cars (23%); machinery and apparatus (23%); and medicinal and pharmaceutical products (17%). Total value of import of goods to the US from Sweden in 2020 was 12.5 billion USD.
US Economic Impact on Sweden
The United States is the 12th largest exporter of goods to Sweden, with a value of 4.4 billion USD in 2020.
The US is the second largest foreign service provider to Sweden, after the UK, with a value of 6.7 billion USD in 2019.
The US is the eighth largest investor in Sweden, with foreign direct investment of 21 billion USD in 2019. US companies are, after Germany, the largest foreign employer in Sweden. US companies created 74 000 jobs in Sweden in 2018.
The three most exported goods from the US to Sweden in 2020 were machinery and apparatus (26%); medicinal and pharmaceutical products (16%); and petroleum oils (10%). In 2020, Sweden also imported 167 million USD (4%) worth of food, beverages, and tobacco from the US. Total value of export of goods from the US to Sweden in 2020 was 4.4 billion USD.