Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Sweden economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Sweden best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary constitutional monarchy
Capital City: Stockholm
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Sveriges Riksbank |
---|---|
Currency |
Swedish kronor (SEK) |
International Reserves |
USD 58.26 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 622.37 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 609.48 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017: 2.6% 2018: 2% 2019: 2% 2020: -2.8% (Estimate) 2021: 4% (Estimate) |
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GDP per capita – current prices |
USD 58,639.19 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 57,425.00 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.42% (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP – composition by sector |
agriculture: 1.4% industry: 21.1% services: 66.1% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
3.4% (2019) OECD, retrieved January 2022 |
Inflation |
2017: 1.9% 2018: 2% 2019: 1.7% 2020: 0.7% (Estimate) 2021: 2% (Estimate) |
Sweden
Inflation & Debt
Inflation |
2017: 1.9% 2018: 2% 2019: 1.7% 2020: 0.7% (Estimate) 2021: 2% (Estimate) |
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Government Bond Ratings |
Standard & Poor’s: AAA Moody’s: aaa Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017: 6.7% 2018: 6.3% 2019: 6.8% 2020: 8.3% (Estimate) 2021: 8.9% (Estimate) |
Household saving rates |
17.1% (2020) OECD, retrieved January 2022 |
Public debt (General government gross debt as a % of GDP) |
2017: 40.7% 2018: 38.9% 2019: 34.9% 2020: 37.3% (Estimate) 2021: 39.6% (Estimate) |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017: 1.4% 2018: 0.8% 2019: 0.4% 2020: –3.2% (Estimate) 2021: –2.8% (Estimate) |
Market value of publicly traded shares | N/A |
Largest Companies |
Volvo Group, Investor AB, Ericsson, SEB AB, Svenska Handelsbanken, Swedbank, Atlas Copco, Essity Ab, Sandvik, Assa Abloy, H&M – Hennes & Mauritz, Skanska, Industrivarden, Kinnevik, Telia, Hexagon, Epiroc, Fastighets Balder, ICA Gruppen, SKF Group, Boliden, Latour Ab Investment, Electrolux Group, Lundbergs, AB Sagax, Evolution Gaming Group AB, EQT AB, Samhallsbyggnadsbolaget I Norden, Swedish Match, Tele2, Alfa Laval, Heimstaden AB Pref. Shs Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
44.6% (2020) World Bank – World Development Indicators (updated Feb 2022) |
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Shares in world total merchandising export |
0.88% (2020) |
Shares in world total commercial services export | 1.3% (2020) |
Total exports | USD 239.8 billion (2020 estimate) |
Export commodities |
Cars and vehicle parts, packaged medicines, refined petroleum, broadcasting equipment, lumber (2019) |
Total imports |
USD 217.4 billion (2020 estimate) |
Import commodities |
Cars and vehicle parts, crude petroleum, refined petroleum, broadcasting equipment, computers (2019) |
Exports – major partners |
Germany 10%, Norway 9%, United States 8%, Denmark 7%, Finland 6%, United Kingdom 5%, Netherlands 5%, China 5% (2019) |
Imports – major partners |
Germany 18%, Netherlands 9%, Denmark 7%, Norway 7%, China 6%, Finland 5%, Belgium 5%, Poland 5% (2019) |
Competitiveness & Trade
Current account balance |
USD 29.9 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
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Current account balance by percentage of GDP |
4.8% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2019: USD 4.2 billion 2020: USD 10.1 billion 2021: USD 26.1 billion |
FDI Outflows |
2019: USD 17.8 billion 2020: USD 15.5 billion 2021: USD 31 billion |
Value of cross-border M&A, by country of purchaser |
2018: USD -941 million 2019: USD 7.4 billion 2020: USD 21.1 million 2021: USD 24.3 billion |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 10 out of 190 countries (2020) Subcategories: Starting a Business: 39 out of 190 countries Dealing with Construction Permits: 31 out of 190 countries Getting Electricity: 10 out of 190 countries Registering Property: 9 out of 190 countries Getting Credit: 80 out of 190 countries Protecting Minority Investors: 28 out of 190 countries Paying Taxes: 31 out of 190 countries Trading across Borders: 18 out of 190 countries Enforcing Contracts: 39 out of 190 countries Resolving Insolvency: 17 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking |
5 out of 141 (2019) World Economic Forum / Global competitiveness ranking |
Index of Economic Freedom |
Ranking: 11 / Score: 77.9 (Mostly Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Time Zone |
UTC+1 |
---|---|
Total Area |
450,295 sq km |
Total Population |
1990: 8.56 million 2000: 8.87 million 2010: 9.38 million 2015: 9.8 million 2020: 10.35 million |
Urban population as % of total population |
1960: 73% 1980: 83% 2000: 84% 2020: 88% |
Population median age |
41.1 (2022 est.) |
Population growth rate |
0.5% (2022 est.) |
Life expectancy |
82.7 years |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) |
29.3 (last available estimate, 2019) |
Freedom House rating |
Total score: 100/100 Status: Free Political Rights: 40/40 Civil Liberties: 60/60 (2022) |
Total telephone subscribers as % of population |
Fixed: 14.6% Mobile: 126.7% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
94.5% (2020) |
Language & Religon
Languages |
Swedish (official) Note: Finnish, Sami, Romani, Yiddish, and Meankieli are official minority languages |
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Literacy | N/A |
Religions |
Church of Sweden (Lutheran) 57.6%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 8.9%, none or unspecified 33.5% (2019 est.) |
World Rankings
Population | 10.35 M |
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Mercer Cost of living index | N/A |
C02 Emissions per capita |
3.5 metric tons per capita (2018) |
Global Finance Rankings & Awards: Sweden
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000