While the outlook for global trade in goods remains troubling, the continued upswing for services has largely flown under the radar. One reason is the general lack of awareness about what international trade in services consists of and how it works.
During 2024, the value of Sweden’s services exports reached SEK 1,260 billion – equivalent to 60 per cent of the value of exports of goods. Business Sweden’s latest report “The invisible exports” points to a bright future ahead – particularly for digital services which have become a signature strength and defining advantage for Sweden.
The march of digitalisation, new business models, and multinationals headquartered in Sweden supporting global subsidiaries – these are three key drivers of the rapid growth of Sweden’s services exports, which are explored in the report.
The analysis is based on interviews with Swedish export companies as well as studies and statistics from the National Board of Trade Sweden, the National Institute of Economic Research (NIER), the Riksbank, and Statistics Sweden (SCB).