Sweden and International Trade
By Paul Garrimone
In recent years, international trade has seen record numbers. In 2016, the total U.S. trade with foreign countries totaled $4.9 trillion – a little over half of that was imports, and, the remainder in exports. The U.S. and the European Union have continually remained in the top three countries in the world regarding exporting and importing, and, this is important in involving: capital goods, industrial supplies and commercial goods. Everything from: airplanes and automobiles; to pharmaceuticals and chemicals; to food and beverage; to semiconductors, electronics and computers; industrial machinery and equipment – even travel – all account for this international trade every second, of everyday. In 2016, the U.S. Secretary of Commerce Penny Pritzker presented CAP Worldwide with the President’s “E” Award for Export Service. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports. International shipping is crucial to the worlds overall economy and plays an important aspect to CAP Logistics and our customers. It’s interesting; however, to focus in on one important member of the E.U. and that country is Sweden.
“Swedish massage oils, and the yummy and gummy delicious Swedish Fish candies alone account for probably over $100 trillion in imports and exports.” Our source, Bjorn Lyngstad stated to us (worth it to mention he is also a distant cousin to Anni-Frid Lyngstad, of the Swedish Pop Group ABBA). This is in fact completely made up, and, false. However, it is true that between the U.S. and Sweden, the annual bilateral trade in goods totals $25 billion annually. And, this doesn’t include the annual bilateral investments monies. Overall, Sweden is the 12th largest investor in the U.S. – creating just over 330,000 jobs across the country. Integral Swedish companies such as: Sandvik Group, SKF, Atlas Copco, ASEA Brown Boveri, Volvo and many others — all have a hand in this partnership.