Exports from Colombia to Sweden have increased within the last four years and experts think there is much more room in order to grow. Swedish exports in 2006 to Colombia were 90 millions Euros; main Swedish exports to Colombia are telecommunication equipment, electronic equipment, manufacturing products, paper and chemicals. Swedish imports from Colombia in 2006 were only 47 million Euros, represented mainly in coffee, flowers and fruits
There are several Swedish companies that have established daughter companies in Colombia. Some of these are: Oriflame, Swedtel, Ericsson, ABB, Alfa Laval, Atlas Copco, Astra Zeneca, Electrolux, Skandia, Securitas, Tetra Pak, among others.
Moreover, there are more than 25 Swedish companies that have local agents in Colombia. Some of these companies are Thule, Tarkett, Scania and Volvo.
In 2010, The two countries wanted to better business and therefore a foreign trade office in Bogota at the Swedish embassy was opened in hopes of improving business relations between the two countries and to promote commerce. The role of this office being opened was to further promote trade between the Nordic country and Colombia, all while hoping to increase Sweden’s business presence in Colombia. - In 2009 trade with Sweden generated around $127 million for Colombia, with coffee making up 80% of the European country’s imports from the South American nation.
Facts on trade between Sweden and Colombia:
- Sweden, along with Finland and Israel, are the countries with the highest levels of expenditure on R&D.
- Swedish companies in the business sector are 870.000. Out of these, 65% are in the service sector, 20% in agriculture, and only 15% in the manufacturing sector.
- ¾ of all Swedish companies have no employees, making the average size of a Swedish company: 17 employees.
- Main exports of Sweden are engineering industry products (machinery, transportation and telecommunication equipment), forestry products, iron, steel and nonferrous metals, and pharmaceuticals. Swedish exports go mainly to North America, Germany, Norway, UK and Denmark.
- Swedish imports are mainly electronic and communication equipment, industrial machinery, vehicles, crude petroleum oils, iron, steel, food and beverages. These come from Germany, Denmark, Norway, Netherlands and UK.