Sweden

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Sweden - In Short.

Overview of Sweden

A military power during the 17th century, Sweden has not participated in any war for two centuries. An armed neutrality was preserved in both World Wars. Since then, Sweden has pursued a successful economic formula consisting of a capitalist system intermixed with substantial welfare elements. Sweden joined the EU in 1995, but the public rejected the introduction of the euro in a 2003 referendum. The share of Sweden’s population born abroad increased from 11.3% in 2000 to 19.1% in 2018.  
Value
Country Full Name
Sweden
Country Code
SWE
Region
Europe & Central Asia
Income Group
High income
Currency Unit
GDP
5.41E+11
Population
10353442
Land Area
407310
Net National Income Per Capita
44420.46178
GDP per Capita (PPP)
55037.7239

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Sweden - Economic

Economy of Sweden

Sweden’s small, open, and competitive economy has been thriving and Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system.   Timber, hydropower, and iron ore constitute the resource base of a manufacturing economy that relies heavily on foreign trade. Exports, including engines and other machines, motor vehicles, and telecommunications equipment, account for more than 44% of GDP. Sweden enjoys a current account surplus of about 5% of GDP, which is one of the highest margins in Europe.   GDP grew an estimated 3.3% in 2016 and 2017 driven largely by investment in the construction sector. Swedish economists expect economic growth to ease slightly in the coming years as this investment subsides. Global economic growth boosted exports of Swedish manufactures further, helping drive domestic economic growth in 2017. The Central Bank is keeping an eye on deflationary pressures and bank observers expect it to maintain an expansionary monetary policy in 2018. Swedish prices and wages have grown only slightly over the past few years, helping to support the country’s competitiveness.   In the short and medium term, Sweden’s economic challenges include providing affordable housing and successfully integrating migrants into the labor market.

Unemployment Rate

Inflation Rate

Sweden - GDP Composition

GDP Composiiton & Value Added of Sweden

Last Updated: Jan, 2021, Updated For 2020.

Sweden - GDP, Value Added

Demographics of Sweden

most Swedes live in the south where the climate is milder and there is better connectivity to mainland Europe; population clusters are found all along the Baltic coast in the east; the interior areas of the north remain sparsely populated
Geographic Location

Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, Kattegat, and Skagerrak, between Finland and Norway

Races

Swedish 80.3%, Syrian 1.9%, Iraqi 1.4%, Finnish 1.4%, other 15% (2020 est.)note: data represent the population by country of birth; the indigenous Sami people are estimated to number between 20,000 and 40,000

Languages

Swedish (official)major-language

Religion

Church of Sweden (Lutheran) 57.6%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 8.9%, none or unspecified 33.5% (2019 est.)note: estimates reflect registered members of faith communities eligible for state funding (not all religions are state-funded and not all people who identify with a particular religion are registered members) and the Church of Sweden

Dependency & Expectancy of Sweden

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

Politics & Policies of Sweden

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ADB (nonregional member), AfDB (nonregional member), Arctic Council, Australia Group, BIS, CBSS, CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, G-9, G-10, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, MONUSCO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, OSCE, Paris Club, PCA, PFP, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMISS, UNMOGIP, UNRWA, UN Security Council (temporary), UNTSO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

Import of Sweden

Export of Sweden

Import Destination

Export Destination