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.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2018): Germany, Norway, and Netherlands
Top 3 Exported Goods (2018): Industrial Machinery, Motor Vehicles & Parts, and Electrical Machinery

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) $541,835,380,996 (2018)
GDP Growth Rate (annual %) 2.225% (2018)
GDP Per Capita, PPP (current international) $53,209 (2018)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 41/196 (2018)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 1.954% (2018)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 49.1% (2019)
Real Interest Rate (5 year average %) 1.88% (2006)
Manufacturing, value added (% of GDP) 13.327% (2018)
Current Account Balance (BoP, current US$) $9,478,630,193 (2018)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 5,434,780 (2019)
Employment in Agriculture (% of total employment) 1.794% (2019)
Employment in Industry (% of total employment) 17.811% (2019)
Employment in Services (% of total employment) 80.394% (2019)
Unemployment Rate 6.838% (2019)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $240,713,095,994 (2018)
Exports of goods and services (current US$) $254,619,307,677 (2018)
Total Merchandise Trade (% of GDP) 60.438% (2018)
FDI, net inflows (BoP, current US$) $4,632,141,925 (2018)
Commercial Service Exports (current US$) $74,020,214,633 (2018)
Click on a row to display its 5-year graph on the right.

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.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank