Sweden Exporter Guide Annual

No votes yet
Your rating: None

Due to the severe Nordic winters and relatively short growing season, Sweden relies heavily on imported food and agricultural products. In 2009, imports of agricultural and food products totaled SEK 93 billion (USD 14 billion) and accounted for 10 percent of the Swedish total import value. About 62% of the imports come from other EU countries, Norway, Denmark, Germany and The Netherlands being the main exporters. Sweden has been a member of the European Union (EU) since 1995, but has not joined the European Monetary Union (EMU).

Food retail sales held up much better than expected in 2009. After a decrease in 2008, consumption of food and drink products is increasing again, 0.9% by volume in 2009. Swedish total food retail sales rose by 4.3% to SEK 251 billion (USD 38 billion).

Sweden was hit hard by the international financial crisis in 2008 but the Swedish economy is on the road to recovery. Swedish exports have surged and rising household consumption and business investments are helping to strengthen the economy. According to a new report from the National Institute of Economic Research, expected growth in 2010 is 4.3 percent, 3.4 percent in 2011 and 3.0 percent in 2012. However, despite vigorous growth, unemployment will remain high in the next few years.

Bettina Dahlbacka