Israeli trade with Scandinavia reached almost 2 billion euros in 2019, but according to the Ambassador of Sweden to Israel, Erik Ullenhag, Israeli-Nordic trade has even greater unrealized potential. Israeli export to Scandinavia amounted to 1.1 billion euros in total in 2019, while imports were at 763 million euros.
Sweden leads the way among the Nordic countries with 300 million euros of export to Israel in 2019, and its Ambassador spoke recently of the opportunities he identifies for Israeli companies in Sweden and the way in which the Israeli ecosystem complements that of Scandinavia. Sweden has several very good universities and therefore a strong ecosystem for science and innovation. The Telecom and IT-clusters are especially advanced which should be interesting for Israeli companies. As in Israel, Sweden has a highly educated and qualified workforce and both countries are very innovative, Ullenhag said during a virtual event organized by multinational law firm DLA Piper,