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Sweden Economy 2011
https://theodora.com/wfb2011/sweden/sweden_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Sweden Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2011

Economy - overview:
Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and growth continued downward in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove the strong rebound in 2010.

GDP (purchasing power parity):
$354 billion (2010 est.)
country comparison to the world: 33

$340.1 billion (2009 est.)
$358.4 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$444.6 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2010 est.)
country comparison to the world: 77

-5.1% (2009 est.)
-0.6% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$39,000 (2010 est.)
country comparison to the world: 24

$37,500 (2009 est.)
$39,600 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 1.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 72.2% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
4.93 million (2009 est.)
country comparison to the world: 76
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 28.2%
[see also: Labor force - by occupation - industry country ranks ]
services: 70.7% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.3% (2010 est.)
country comparison to the world: 96

8.3% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22.2% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
23 (2005)
country comparison to the world: 134

25 (1992)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
18.1% of GDP (2009 est.)
country comparison to the world: 108
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $230.1 billion
[see also: Budget - revenues country ranks ]
expenditures: $236.6 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
40.8% of GDP (2010 est.)
country comparison to the world: 68

41.6% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.4% (2010 est.)
country comparison to the world: 36

-0.3% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2% (31 December 2008)
country comparison to the world: 111

3.5% (31 December 2007)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)

NA% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$225 billion (31 December 2010 est)

$205.2 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$293.2 billion (31 December 2010 est.)

$260.3 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$640.2 billion (31 December 2010 est.)
country comparison to the world: 21

$583.8 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$432.3 billion (31 December 2009)
country comparison to the world: 23

$252.5 billion (31 December 2008)
$612.5 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
barley, wheat, sugar beets; meat, milk

Industries:
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

Industrial production growth rate:
8% (2009 est.)
country comparison to the world: 30
[see also: Industrial production growth rate country ranks ]

Electricity - production:
144 billion kWh (2007 est.)
country comparison to the world: 25
[see also: Electricity - production country ranks ]

Electricity - consumption:
134.5 billion kWh (2007 est.)
country comparison to the world: 23
[see also: Electricity - consumption country ranks ]

Electricity - exports:
14.71 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
12.75 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
4,833 bbl/day (2009 est.)
country comparison to the world: 94
[see also: Oil - production country ranks ]

Oil - consumption:
328,100 bbl/day (2009 est.)
country comparison to the world: 38
[see also: Oil - consumption country ranks ]

Oil - exports:
248,500 bbl/day (2008 est.)
country comparison to the world: 46
[see also: Oil - exports country ranks ]

Oil - imports:
589,900 bbl/day (2008 est.)
country comparison to the world: 22
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 116
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 122
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
1.229 billion cu m (2009 est.)
country comparison to the world: 87
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 116
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
1.229 billion cu m (2009 est.)
country comparison to the world: 53
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 128
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$21.68 billion (2010 est.)
country comparison to the world: 16

$30.23 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$162.6 billion (2010 est.)
country comparison to the world: 27

$133.3 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals

Exports - partners:
Norway 10.61%, Germany 10.2%, UK 7.45%, Denmark 7.35%, Finland 6.44%, US 6.36%, France 5.05%, Netherlands 4.67% (2009)

Imports:
$158.6 billion (2010 est.)
country comparison to the world: 26

$120.5 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing

Imports - partners:
Germany 17.9%, Denmark 8.9%, Norway 8.7%, Netherlands 6.17%, UK 5.56%, Finland 5.14%, France 5.06%, China 4.79% (2009)

Reserves of foreign exchange and gold:
$NA (31 December 2010 est.)

$47.29 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$853.3 billion (30 June 2010)
country comparison to the world: 16

$617.3 billion (31 December 2008)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$321.4 billion (31 December 2010 est.)
country comparison to the world: 16

$304.5 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$383.9 billion (31 December 2010 est.)
country comparison to the world: 13

$367.4 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Swedish kronor (SEK) per US dollar - 7.5077 (2010), 7.6529 (2009), 6.4074 (2008), 6.7629 (2007), 7.3731 (2006)


NOTE: The information regarding Sweden on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sweden Economy 2011 information contained here. All suggestions for corrections of any errors about Sweden Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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