Economic relations between Sweden and Russia

Economic relations between Sweden and Russia

Approximately 400 Swedish companies are currently present on the Russian market. The total value of the Swedish-Russian trade increased by eleven times during 1998-2011. However, in 2012, Sweden’s exports and imports to/from Russia declined by 14 (to 23,7 billion USD) resp. 4,7 percent (to 61,7  billion USD) compared to 2011. January - September 2013 Swedish exports and imports to/from Russia declined by 4,4 resp. 23 percent. In 2013 Russia was Sweden’s 13th biggest export market and 7th biggest import market. Important export products are automobiles, equipment for the telecommunications industry and chemicals. Imports from Russia consist mainly of raw materials, in particular crude oil.

Please visit Statistics Sweden for more information about Swedish foreign trade.

http://www.scb.se/


Sweden is among the top ten foreign direct investors in Russia. According to the Russian Central Bank Swedish accumulated direct investments in Russia amounted to 15,8 billion USD as of 1 January 2013.

http://www.cbr.ru/


Government agencies supporting Swedish trade

Business Sweden facilitates for Swedish companies to grow internationally and for foreign actors to invest in Sweden. With offices in 57 countries and in every region in Sweden, BS strengthens Sweden as an attractive, innovative and competitive business partner. An important part is to support Swedish small and medium-sized companies in reaching export markets with their products and services so that they can grow internationally. The support consists of advisory services, skills development for companies, events, and targeted campaigns. Business Sweden’s mission is also to facilitate for foreign actors to invest in Sweden. Sweden’s innovation-friendly climate offers excellent investment opportunities in manufacturing, transport, science, technology, healthcare, music, design, tourism and other industries. Business Sweden is a merger of the Swedish Trade Council and Invest Sweden, founded on January 1, 2013. BS is jointly owned by the Swedish government and the industry, represented by the Ministry for Foreign Affairs and the Swedish Foreign Trade Association. The shared ownership provides access to contacts and networks at all levels.

See more about Business Sweden at:

http://www.business-sweden.se/en/


EKN has been commissioned by the government to promote Swedish exports and the internationalisation of Swedish companies. EKN does so by insuring Swedish export companies and banks against the risk of non-payment in export transactions, thereby enabling them to conduct more secure export transactions.

See more about EKN at:

http://www.ekn.se/en/

 

Last updated: 12.02.2014