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Trade between South Korea and Sweden

In 2024, South Korea exported $1.4 billion to Sweden and imported $2 billion. South Korea ran a deficit of $544 million with Sweden, compared with a deficit of $518 million in 2019. Sweden was South Korea’s 43rd largest trading partner (0.2% of its trade), and South Korea was Sweden’s 20th (1%).

Summary

South Korea → Sweden
$1.4billion
Sweden → South Korea
$2billion
South Korea’s balance
-$544million

Balance

South Korea’s trade balance with Sweden

Trade between South Korea and Sweden grew 2.9-fold since 1995

USD billions (current). South Korea’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 1.4
  • Imports 2
  • Balance -0.5

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$335 million$814 million-$479 million
1996$346 million$830 million-$484 million
1997$501 million$810 million-$310 million
1998$283 million$469 million-$186 million
1999$667 million$540 million$127 million
2000$428 million$581 million-$153 million
2001$432 million$518 million-$86 million
2002$467 million$602 million-$135 million
2003$637 million$702 million-$66 million
2004$919 million$797 million$121 million
2005$1.1 billion$963 million$157 million
2006$1.2 billion$949 million$202 million
2007$1.1 billion$1.2 billion-$104 million
2008$1.3 billion$1.4 billion-$34 million
2009$863 million$1.2 billion-$298 million
2010$1.9 billion$1.4 billion$496 million
2011$1.3 billion$2.1 billion-$790 million
2012$1 billion$1.4 billion-$429 million
2013$1 billion$1.6 billion-$595 million
2014$945 million$1.8 billion-$817 million
2015$812 million$1.6 billion-$783 million
2016$842 million$1.6 billion-$725 million
2017$960 million$1.7 billion-$778 million
2018$1.1 billion$1.8 billion-$714 million
2019$1.2 billion$1.7 billion-$518 million
2020$976 million$1.7 billion-$738 million
2021$1.6 billion$1.9 billion-$324 million
2022$1.6 billion$1.9 billion-$368 million
2023$1.5 billion$1.9 billion-$366 million
2024$1.4 billion$2 billion-$544 million

What they sell each other

What South Korea sells to Sweden

The top 10 headings in 2024, with their share of the total.

  1. Cars$369 million · 26%
    20 thousand tonnes · South Korea’s destinations
  2. Other industrial machines$176 million · 12.4%
    5 thousand tonnes
  3. Vaccines, blood and antisera$52 million · 3.7%
    18 tonnes · South Korea’s destinations
  4. Microchips$49 million · 3.4%
    30 tonnes · South Korea’s destinations
  5. New tires$45 million · 3.2%
    8 thousand tonnes · South Korea’s destinations
  6. Coated flat steel$43 million · 3%
    44 thousand tonnes
  7. Batteries$40 million · 2.8%
    8 thousand tonnes · South Korea’s destinations
  8. Bombs, missiles and ammunition$34 million · 2.4%
    313 tonnes
  9. Makeup and skin care$34 million · 2.4%
    589 tonnes · South Korea’s destinations
  10. Elevators, escalators and conveyors$32 million · 2.3%
    1 thousand tonnes

What Sweden sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Cars$308 million · 15.7%
    16 thousand tonnes · Sweden’s destinations
  2. Trucks$153 million · 7.8%
    14 thousand tonnes · Sweden’s destinations
  3. Natural polymers$149 million · 7.6%
    20 tonnes
  4. Medicines in measured doses or retail packs$101 million · 5.2%
    2 thousand tonnes · Sweden’s destinations
  5. Other industrial machines$78 million · 4%
    555 tonnes
  6. Tractors$58 million · 2.9%
    4 thousand tonnes · Sweden’s destinations
  7. Diesel engines$57 million · 2.9%
    4 thousand tonnes
  8. Iron and steel powder and shot$50 million · 2.5%
    33 thousand tonnes
  9. Polyethylene$48 million · 2.5%
    10 thousand tonnes
  10. Centrifuges and filters$45 million · 2.3%
    381 tonnes

How it travels

Estimated sea route from Busan to Gothenburg.

The estimated sea route between Busan and Gothenburg is 14,974 nautical miles (27,731 km) long: ≈ 34.5–44.5 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Malacca and Singapore, the Cape of Good Hope and the Strait of Dover (14,974 nautical miles); and 15% via the Strait of Malacca and Singapore, the Bab-el-Mandeb Strait, the Suez Canal, the Strait of Gibraltar and the Strait of Dover (11,455 nautical miles).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$2.2 billion · 64.7%
  2. Air$1.2 billion · 35.3%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

Sweden was South Korea’s 43rd largest trading partner (0.2% of its trade), and South Korea was Sweden’s 20th (1%).

Sweden in South Korea’s trade
0.2%
Sweden’s rank among South Korea’s partners
43rd
South Korea in Sweden’s trade
1%
South Korea’s rank among Sweden’s partners
20th

Compare with

Other partners of South Korea

Other partners of Sweden

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.