Browse a full set of economic indicators

Sweden

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)
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)

Inflation & Debt

Inflation 2017: 1.9%
2018: 2%
2019: 1.7%
2020: 0.7% (Estimate)
2021: 2% (Estimate)
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)
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
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
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
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

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