What do we know about Swedish consumers?
The 46.8 million inhabitants that reside in Sweden are among the world’s most financially comfortable. The absolute income disparity in Sweden is almost the lowest in the world owing its achievement to the Nordic model employed by the Swedish. This model essentially takes care of the unemployed, offers high welfare and promotes a corruption-free system: The key contributors to a progressive society.
Almost 2 out of every 5 Swedes lived in a developed city, totalling to 88% of the population being classified as urbanised. The Stockholm region in Sweden is a constantly growing one that holds close to 4 million dwellers in its urban and metropolitan areas. Stockholm is the media, political, cultural and economic hub of Sweden.
What are people selling to the Swedish?
- Petroleum and petroleum products
- Motor Vehicles
- Iron and Steel
Which are the main countries importing to Sweden?
- Germany (18%)
- Netherlands (9.5%)
- Norway (9.3%)
- Denmark (6.7%)
- China (5.2%)
- United Kingdom (4.6%)
Which are Sweden’s busiest cargo airports?
- Stockholm Arlanda Airport, Stockholm
- Malmo Airport, Malmo
- Gothenburg Landvetter Airport
Which is Sweden’s top cargo port?
- Port of Gothenburg
Sweden’s import process
‘Import’ in Sweden typically implies the bringing in of goods into the country from outside the European Union.
For this purpose, an import declaration is required. This declaration can be submitted electronically or via the Single Administrative Document (SAD) form, by the importer or an authorized representative.
Swedish import tariffs and taxes
This is followed by the payment of custom duties, VAT (25% or 12% for food and select products) and other applicable tax.
Customs Value Declaration – Customs duty or customs value is determined by a) price of the goods paid to the supplier when sold to the EU b) cost of transport to the EU border c) cost of transport insurance (if any).
Swedish import tariff rates are among the friendliest in the world. As a part of the OECD trade liberalisation program and a member of EFTA, Sweden is keen on promoting the development of local industry by inviting international business.
Therefore, almost 90% of imports from developing countries are duty free when bringing into Sweden. While all raw materials are duty free, some restrictions apply to agricultural products, automobiles, imports coming from East Europe and the Far East. For imports from the US, external EU tariff rates of 2% to 14% are applied to industrial products.
The Swedish market
The Swedish product consists of supermarkets and specialized hypermarkets. Distribution in Sweden is highly structured and dominated by top players.
Sweden’s promising sectors include Automotive & Transportation Technology, Life Sciences, Tourism and Green Technology, making it a high research and innovation driven industry. Its almost negligible import costs and smooth procedures, makes it an inviting market to delve into with the right product offering.