unbekannter Gast

Sweden: Economy#

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 highly 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 vast majority of industrial output, of which the engineering sector accounts for about 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 the contraction continued 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 a rebound in 2010, but growth slipped in 2013, as a result of continued economic weakness in the EU - Sweden’s main export market.

Economic Facts#

GDP (purchasing power parity)$393.8 billion (2013 est.)
$390.4 billion (2012 est.)
$386.7 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate0.9% (2013 est.)
1% (2012 est.)
2.9% (2011 est.)
GDP - per capita (PPP)$40,900 (2013 est.)
$40,900 (2012 est.)
$40,800 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 2%
industry: 31.3%
services: 66.8% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: 3.6%
highest 10%: 22.2% (2000)
Labor force - by occupationagriculture: 1.1%
industry: 28.2%
services: 70.7% (2008 est.)
Exports - commoditiesmachinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals
Exports - partnersNorway 10.4%, Germany 10.3%, UK 8.1%, Finland 6.8%, Denmark 6.7%, Netherlands 5.5%, US 5.5%, Belgium 5%, France 4.8% (2012)
Agriculture - productsbarley, wheat, sugar beets; meat, milk
Budgetrevenues: $283.5 billion
expenditures: $294.7 billion (2013 est.)
Imports - commoditiesmachinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
Imports - partnersGermany 17.4%, Denmark 8.5%, Norway 8.4%, UK 6.5%, Netherlands 6.4%, Russia 5.6%, Finland 5.1%, China 4.9%, France 4.2% (2012)
Exchange ratesSwedish kronor (SEK) per US dollar -
6.58 (2013 est.)
6.77 (2012 est.)
7.2075 (2010 est.)
7.6529 (2009)
6.4074 (2008)
Exports$181.5 billion (2013 est.)
$184.8 billion (2012 est.)
Debt - external$1.039 trillion (31 December 2012 est.)
$992.5 billion (31 December 2011)
Fiscal yearcalendar year
Imports$158 billion (2013 est.)
$163.3 billion (2012 est.)
Industrial production growth rate-1% (2013 est.)
Industriesiron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Inflation rate (consumer prices)0% (2013 est.)
0.9% (2012 est.)
Labor force5.107 million (2013 est.)
Unemployment rate8.1% (2013 est.)
8% (2012 est.)
Distribution of family income - Gini index23 (2005)
25 (1992)
Public debt41.5% of GDP (2013 est.)
38.2% of GDP (2012 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
Current account balance$39 billion (2013 est.)
$36.31 billion (2012 est.)
Reserves of foreign exchange and gold$52.23 billion (31 December 2012 est.)
$50.35 billion (31 December 2011 est.)
GDP (official exchange rate)$552 billion (2013 est.)
Stock of direct foreign investment - at home$519.3 billion (31 December 2013 est.)
$500.8 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$558.8 billion (31 December 2013 est.)
$527.8 billion (31 December 2012 est.)
Market value of publicly traded shares$560.5 billion (31 December 2012 est.)
$470.1 billion (31 December 2011)
$581.2 billion (31 December 2010 est.)
Central bank discount rate5.5% (31 December 2010 est.)
0.5% (31 December 2009 est.)
Commercial bank prime lending rate3.3% (31 December 2013 est.)
3.57% (31 December 2012 est.)
Stock of domestic credit$798 billion (31 December 2013 est.)
$792.5 billion (31 December 2012 est.)
Stock of narrow money$254.3 billion (31 December 2013 est.)
$260.1 billion (31 December 2012 est.)
Stock of broad money$349.4 billion (31 December 2013 est.)
$347 billion (31 December 2012 est.)
Taxes and other revenues51.4% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 48.6%
government consumption: 26.8%
investment in fixed capital: 18.3%
investment in inventories: 0.4%
exports of goods and services: 45.8%
imports of goods and services: -39.9%
(2013 est.)
Gross national saving25.8% of GDP (2013 est.)
25.8% of GDP (2012 est.)
26.9% of GDP (2011 est.)