Trade between Sweden & China
China is currently Sweden's largest trading partner in Asia and trade with China has consistently increased the last couple of years, which can be attributed to China's accession to the World Trade Organisation (WTO) in 2001. Apart from approximately 10,000 Swedish companies that trade with China, there are more than 500 Swedish companies established in China.
In 2016 Swedish exports to China amounted to a total value of 46 billion SEK, a year-on-year increase of 1.7 percent. Exports to China constitute 3.9 percent of all Swedish exports which makes China Sweden's tenth largest export market. The largest category of exports is machinery and equipment which accounted for 31 percent of Swedish exports to China in 2016, at a value of 14.4 billion SEK. Other goods such as medicinal and pharmaceutical products, vehicles, paper, iron and steel also account for a large part of Swedish exports to China. Service exports increased by 11 percent in 2016, and amounted to 15.6 billion SEK.
Swedish imports from China amounted to 67.5 billion SEK in 2016, a year-on-year decrease of 2.7 percent. This constitutes 5.6 percent of Sweden's total import which makes China Sweden's seventh largest import source. Sweden carries a trade deficit with China. Machinery and equipment is also an important import category at a value of 25.4 billion SEK, equivalent to 38 percent of the imports. Clothing is the second largest import category at a value of 10.2 billion SEK.
The statistics above cannot be considered to be complete since many Swedish companies produce their goods in China or export via a third country.