The era of globalisation is over and strong protectionist winds are blowing across the world at regular intervals – as seen not least in the power battle between the US and China and the tensions caused by the current pandemic. World trade is shifting toward a regionalised focus where three large production regions dominate; North America, Europe and Asia.
This trend of near-market manufacturing is gathering pace in Asia where approximately half of all trade in industrial goods is now intra-regional. In North America and Europe, the share of intra-regional trade is even higher.
Despite changing times, we can observe against this background that Sweden’s share of the global market for goods exports remain stable at approximately 1.1 per cent for the fourth consecutive year. Our analysis, which is based on the latest statistics from UN Comtrade, confirms that since 2015 Sweden is no longer losing market share.
While Sweden’s share of the export market has stabilised, notable changes can be seen in the development of different commodity groups where, for example, Sweden captured market share in chemicals/pharmaceuticals and steel between 2018 and 2019 but lost market share in petroleum.
Get the full overview in this year’s edition of our report Global Export.
About THE Analysis
Business Sweden publishes the report Global Export once a year. The United Nations’ database UN Comtrade is used to produce export statistics for Sweden’s 32 most important export markets for the period 2000–2019.
UN Comtrade contains most countries’ foreign trade broken down into commodity groups according to the so-called SITC-nomenclature. All figures are in current prices expressed in USD. The goods exports have been divided into 13 commodity groups that cover about 85 per cent of Swedish goods exports.