Swedish exports to China soared in 2008

Data from Sweden Statistics show that the country's exports to China increased significantly by 17 percent to 2.9 billion USD in 2008, while its imports from China grew by 3 percent to some 4.1 billion USD.

As a result, Sweden's trade deficit with China reduced by 19.5 percent. China remains one of Sweden’s largest trading partners. China is Sweden's 14th biggest export markets and ranks the 11th largest source of Sweden's imports.

As two countries that advocate trade liberalization, Sweden and China have enjoyed a good economic and trade relations in past years, said Qiu Deya, Economic and Commercial Counselor for the Chinese Embassy in the Kingdom of Sweden in his article in a leading Swedish newspaper recently.

According to Qiu, in 2008, the bilateral trade between China and Sweden amounted to around 10 billion USD. Up to the end of 2008, Swedish companies have invested in 969 projects in China. Nearly 60 Chinese projects established in Sweden according to Swedish ISA statistics.

According to Qiu's article, a China-invested pilot project for bio-energy project is under way. In 2008, China and Sweden have signed 81 contracts with regards to technology transfer, with contractual value ranking fourth in the EU.

Source: People's Daily Online