Countries
Sweden
Key Economic Indicators
$759.38 billion
$71,845
0.82%
2.84%
8.69%
$610.118 billion (2024 est.)
<b>note:</b> central government debt as a % of GDP
$35.77 billion
Economic Overview
<p>high-income, largest Nordic economy; EU member but does not use the euro; export-oriented, led by automotive, electronics, machinery, and pharmaceuticals; highly ranked for competitiveness, R&D investments and governance; recovery, with falling inflation and real wage growth balanced by risks from trade uncertainty</p>
All Economic Data
Agricultural products
milk, wheat, sugar beets, barley, potatoes, oats, rapeseed, pork, chicken, beef (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
3.1% of household expenditures (2023 est.)
On food:
13% of household expenditures (2023 est.)
Budget
Expenditures:
$191.095 billion (2022 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$195.468 billion (2022 est.)
Currency
code:
SEK
name:
Swedish krona (SEK) [kr]
Current account balance
$35.77 billion
Current account balance 2022:
$27.404 billion (2022 est.)
Current account balance 2023:
$40.819 billion (2023 est.)
Current account balance 2024:
$45.274 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Swedish kronor (SEK) per US dollar -
Exchange rates 2020:
9.21 (2020 est.)
Exchange rates 2021:
8.577 (2021 est.)
Exchange rates 2022:
10.114 (2022 est.)
Exchange rates 2023:
10.61 (2023 est.)
Exchange rates 2024:
10.568 (2024 est.)
Exports
$327.88 billion
Exports 2022:
$318.203 billion (2022 est.)
Exports 2023:
$329.332 billion (2023 est.)
Exports 2024:
$338.852 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
cars, refined petroleum, packaged medicine, paper, vehicle parts/accessories (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Germany 10%, USA 10%, Denmark 8%, Norway 6%, Netherlands 5% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$27.03 billion
GDP - composition, by end use
Exports of goods and services:
55.4% (2023 est.)
Government consumption:
26% (2023 est.)
Household consumption:
43.7% (2023 est.)
Imports of goods and services:
-51.4% (2023 est.)
Investment in fixed capital:
25% (2023 est.)
Investment in inventories:
-0.1% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.1% (2024 est.)
Industry:
22.6% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
65.9% (2024 est.)
GDP (official exchange rate)
$610.118 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$57,117
Gini Index coefficient - distribution of family income
30 (2018)
Gini Index coefficient - distribution of family income 2022:
31.6 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$630.51 billion
GNI per capita
$58,190
Gross domestic investment
25 % of GDP
Household income or consumption by percentage share
Highest 10%:
24.7% (2022 est.)
Lowest 10%:
2.5% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$311.36 billion
Imports 2022:
$304.101 billion (2022 est.)
Imports 2023:
$304.194 billion (2023 est.)
Imports 2024:
$309.526 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
cars, crude petroleum, refined petroleum, vehicle parts/accessories, garments (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Germany 17%, Netherlands 10%, Norway 9%, Denmark 6%, China 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
0.3% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Inflation rate (consumer prices)
2.84%
Inflation rate (consumer prices) 2022:
8.4% (2022 est.)
Inflation rate (consumer prices) 2023:
8.5% (2023 est.)
Inflation rate (consumer prices) 2024:
2.8% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
5.699 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
5.71 million persons
Labor force - by occupation
agriculture:
1.77%
industry:
16.82%
services:
81.41%
Population below poverty line
16.1% (2022 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2022:
36.9% of GDP (2022 est.)
Real GDP (purchasing power parity)
$759.38 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$662.937 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$662.18 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$668.628 billion (2024 est.)
Real GDP growth rate
0.82%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
1.5% (2022 est.)
Real GDP growth rate 2023:
-0.1% (2023 est.)
Real GDP growth rate 2024:
1% (2024 est.)
Real GDP per capita
$71,845
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$63,200 (2022 est.)
Real GDP per capita 2023:
$62,800 (2023 est.)
Real GDP per capita 2024:
$63,300 (2024 est.)
Remittances
$4.43 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.6% of GDP (2022 est.)
Remittances 2023:
0.7% of GDP (2023 est.)
Remittances 2024:
0.8% of GDP (2024 est.)
Reserves of foreign exchange and gold
$62.57 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$64.289 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$60.863 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$62.569 billion (2024 est.)
Revenue (excl grants)
33 % of GDP
Tax revenue
28 % of GDP
Taxes and other revenues
27.6% (of GDP) (2022 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
8.69%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
7.4% (2022 est.)
Unemployment rate 2023:
7.7% (2023 est.)
Unemployment rate 2024:
8.6% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
23.2% (2024 est.)
Male:
24.3% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
23.8% (2024 est.)
Economic Rankings
GDP per Capita
#22
GDP (Nominal)
#24
Imports
#27
Exports
#27
Reserves
#37
GDP (PPP)
#40
Unemployment Rate
#54
Inflation Rate
#97
Gini Index
#145
GDP Growth Rate
#180
Quick Facts
Industries
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Agricultural products
milk, wheat, sugar beets, barley, potatoes, oats, rapeseed, pork, chicken, beef (2023)
Labor force
5.699 million (2024 est.)
Exports - partners
Germany 10%, USA 10%, Denmark 8%, Norway 6%, Netherlands 5% (2023)
Imports - partners
Germany 17%, Netherlands 10%, Norway 9%, Denmark 6%, China 6% (2023)
Exchange rates
Swedish kronor (SEK) per US dollar -
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