Peer-reviewed academic paper employing value-chain analysis to reassess the economic importance of the Swedish East India Company's trade between Canton and Europe. Argues that SEIC was a major transnational trader (15% of European Chinese tea imports) and that previous scholarship underestimated its impact on the Swedish economy by ignoring re-exports. Relevant to understanding East India Company operations, tea smuggling networks, and comparative chartered company strategies during the period of the 1765 Revestment.