Sweden: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Germany, Norway, and Netherlands |
| Top Industries Source: CIA World Factbook | Iron and Steel; Precision Equipment (Bearings, Radio and Telephone Parts, Armaments); Wood Pulp and Paper Products; Processed Foods |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $677,229,832,214 (2022) |
| GDP Growth Rate (annual %) | 2.642% (2022) |
| GDP Per Capita, PPP (current international) | $64,578 (2022) |
GDP Country Rank 38/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 8.369% (2022) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 49.1% (2019) |
| Real Interest Rate (5 year average %) | 1.887% (2006) |
| Manufacturing, value added (% of GDP) | 12.601% (2022) |
| Current Account Balance (BoP, current US$) | $25,014,837,527 (2022) |
Labor and Employment [1]
| Labor Force, Total | 5,600,661 (2022) |
| Employment in Agriculture (% of total employment) | 1.971% (2021) |
| Employment in Industry (% of total employment) | 18.152% (2021) |
| Employment in Services (% of total employment) | 79.876% (2021) |
| Unemployment Rate | 7.358% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $293,900,944,165 (2022) |
| Exports of goods and services (current US$) | $308,124,043,439 (2022) |
| Total Merchandise Trade (% of GDP) | 68.234% (2022) |
| FDI, net inflows (BoP, current US$) | $50,046,398,276 (2022) |
| Commercial Service Exports (current US$) | $94,038,895,760 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Sweden’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.