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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
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.
$354 billion (2010 est.)
country comparison to the world: 33
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$444.6 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
4.1% (2010 est.)
country comparison to the world: 77
[see also: GDP - real growth rate country ranks ]
$39,000 (2010 est.)
country comparison to the world: 24
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
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 ]
4.93 million (2009 est.)
country comparison to the world: 76
[see also: Labor force country ranks ]
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 ]
8.3% (2010 est.)
country comparison to the world: 96
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
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 ]
23 (2005)
country comparison to the world: 134
[see also: Distribution of family income - Gini index country ranks ]
18.1% of GDP (2009 est.)
country comparison to the world: 108
[see also: Investment (gross fixed) country ranks ]
revenues: $230.1 billion
[see also: Budget - revenues country ranks ]
expenditures:
$236.6 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
40.8% of GDP (2010 est.)
country comparison to the world: 68
[see also: Public debt country ranks ]
1.4% (2010 est.)
country comparison to the world: 36
[see also: Inflation rate (consumer prices) country ranks ]
2% (31 December 2008)
country comparison to the world: 111
[see also: Central bank discount rate country ranks ]
NA% (31 December 2009 est.)
[see also: Commercial bank prime lending rate country ranks ]
$225 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$293.2 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$640.2 billion (31 December 2010 est.)
country comparison to the world: 21
[see also: Stock of domestic credit country ranks ]
$432.3 billion (31 December 2009)
country comparison to the world: 23
[see also: Market value of publicly traded shares country ranks ]
barley, wheat, sugar beets; meat, milk
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
8% (2009 est.)
country comparison to the world: 30
[see also: Industrial production growth rate country ranks ]
144 billion kWh (2007 est.)
country comparison to the world: 25
[see also: Electricity - production country ranks ]
134.5 billion kWh (2007 est.)
country comparison to the world: 23
[see also: Electricity - consumption country ranks ]
14.71 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]
12.75 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]
4,833 bbl/day (2009 est.)
country comparison to the world: 94
[see also: Oil - production country ranks ]
328,100 bbl/day (2009 est.)
country comparison to the world: 38
[see also: Oil - consumption country ranks ]
248,500 bbl/day (2008 est.)
country comparison to the world: 46
[see also: Oil - exports country ranks ]
589,900 bbl/day (2008 est.)
country comparison to the world: 22
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 116
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 122
[see also: Natural gas - production country ranks ]
1.229 billion cu m (2009 est.)
country comparison to the world: 87
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 116
[see also: Natural gas - exports country ranks ]
1.229 billion cu m (2009 est.)
country comparison to the world: 53
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 128
[see also: Natural gas - proved reserves country ranks ]
$21.68 billion (2010 est.)
country comparison to the world: 16
[see also: Current account balance country ranks ]
$162.6 billion (2010 est.)
country comparison to the world: 27
[see also: Exports country ranks ]
machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals
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)
$158.6 billion (2010 est.)
country comparison to the world: 26
[see also: Imports country ranks ]
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
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)
$NA (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$853.3 billion (30 June 2010)
country comparison to the world: 16
[see also: Debt - external country ranks ]
$321.4 billion (31 December 2010 est.)
country comparison to the world: 16
[see also: Stock of direct foreign investment - at home country ranks ]
$383.9 billion (31 December 2010 est.)
country comparison to the world: 13
[see also: Stock of direct foreign investment - abroad country ranks ]
Swedish kronor (SEK) per US dollar - 7.5077 (2010), 7.6529 (2009), 6.4074 (2008), 6.7629 (2007), 7.3731 (2006)
This page was last modified 09-Feb-11