Sweden's export to Russia amounts to approximately SEK 14 billion, and is rapidly increasing. Trade rose by 386% from 1999 to 2005. Important export products are equipment for the telecommunications industry, automobiles and chemical products. The interest in Russia within the Swedish business community is steadily increasing. Approximately 300 Swedish companies are currently present in the Russian market – 200 in Moscow and 100 in St. Petersburg.
Imports from Russia consist mainly of raw materials, in particular crude oil. The value of Swedish imports amounted to SEK 24 billion in 2006. Increases in Swedish imports from Russia are partly the result of oil price increases. Crude oil represents almost 68 percent of Sweden's total import from Russia. This is the main reason for the negative figures in Sweden's trade balance with Russia.
Swedish investments in Russia are also on the rise. Many companies, such as Electrolux, Sandvik, Volvo, Scania and Oriflame, have invested in production facilities. IKEA is the biggest Swedish investor in Russia.The statistics over foreign investments in Russia are somewhat unreliable. It is difficult to back-track investments to a particular country since many so called foreign investments are in actual fact Russian assets returning from tax havens like Cyprus and the Virgin Islands.Once this has been taken into account, Sweden emerges as one of the ten biggest investors in Russia.
Last updated: 20.04.2007