Sweden - Economy
How is the economy of Sweden? Based on the information we have, Sweden has a high-income, knowledge-based economy; EU member but non-euro user (refuses to peg krona to euro); large welfare state that complements its free-market capitalism; high living standards, environmental protections, income and gender equality. Key agricultural products in this country include: wheat, milk, sugar beets, barley, potatoes, oats, rapeseed, pork, chicken, triticale (2022).
More about the economy of Sweden
| Labor force | 5.724 million (2022 est.) |
|---|---|
| Industrial production growth rate | 2.1% (2022 est.) |
| Industries | iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles |
| Population below poverty line | 16% (2021 est.) |
| Taxes and other revenues | 27.21% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Swedish kronor (SEK) per US dollar - |
| Exchange rates 2022 | 10.114 (2022 est.) |
| Exchange rates 2021 | 8.577 (2021 est.) |
| Exchange rates 2020 | 9.21 (2020 est.) |
| Exchange rates 2019 | 9.458 (2019 est.) |
| Exchange rates 2018 | 8.693 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $911.317 billion (2019 est.) |
| Debt - external 2018 | $1,012,171,000,000 (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $64.289 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $62.053 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $58.26 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | $28.491 billion (2022 est.) |
| Current account balance 2021 | $43.475 billion (2021 est.) |
| Current account balance 2020 | $32.355 billion (2020 est.) |
| Public debt | |
| Public debt 2021 | 40.48% of GDP (2021 est.) |
| Public debt 2020 | 43.99% of GDP (2020 est.) |
| Public debt 2019 | 38.67% of GDP (2019 est.) |
| Budget | |
| Revenues | $259.17 billion (2019 est.) |
| Expenditures | $256.454 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | 1.3% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 0.56% of GDP (2022 est.) |
| Remittances 2021 | 0.49% of GDP (2021 est.) |
| Remittances 2020 | 0.57% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 3% |
| Highest 10% | 22.4% (2020 est.) |
| Average household expenditures | |
| On food | 12.7% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.4% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $296.552 billion (2022 est.) |
| Imports 2021 | $268.334 billion (2021 est.) |
| Imports 2020 | $217.165 billion (2020 est.) |
| Imports (partners) | Germany 16%, Netherlands 10%, Norway 9%, China 7%, Denmark 6% (2022) |
| Comodities Imports force | crude petroleum, cars, refined petroleum, broadcasting equipment, garments (2022) |
| Exports | |
| Imports 2022 | $296.552 billion (2022 est.) |
| Imports 2021 | $268.334 billion (2021 est.) |
| Imports 2020 | $217.165 billion (2020 est.) |
| Exports (partners) | Germany 10%, Norway 10%, US 9%, Denmark 8%, Finland 7% (2022) |
| Comodities Exports force | refined petroleum, cars, packaged medicine, paper, electricity (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $580.099 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $564.124 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $531.455 billion (2020 est.) |
| GDP (official exchange rate) | $591.189 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $55,300 (2022 est.) |
| Real GDP per capita 2021 | $54,200 (2021 est.) |
| Real GDP per capita 2020 | $51,300 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1.6% (2017 est.) |
| Industry | 33% (2017 est.) |
| Services | 65.4% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 44.1% (2017 est.) |
| Government consumption | 26% (2017 est.) |
| Investment in fixed capital | 24.9% (2017 est.) |
| Investment in inventories | 0.8% (2017 est.) |
| Exports of goods and services | 45.3% (2017 est.) |
| Imports of goods and services | -41.1% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 7.39% (2022 est.) |
| Unemployment rate 2021 | 8.72% (2021 est.) |
| Unemployment rate 2020 | 8.29% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 24.5% (2021 est.) |
| Male | 26.1% |
| Female | 23% |
All Important Facts about Sweden
Want to know more about Sweden? Check all different factbooks for Sweden below.
