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Indicators of economy in Sweden

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Sweden, on the other hand, reached USD 61,029 per capita, or 635.66 billion USD for the whole country. Sweden is therefore currently ranked 22 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Sweden ranks 16th in the list of the richest countries.

Inflation in Sweden in 2022 was around 8.37%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 83, which is above average by global standards.


Back to overview: Sweden

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Sweden in 2020 increased from 533.88 billion US dollars to 547.05 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 2.5 percent increase has been rather unusual this year. While most countries have suffered significant losses, Sweden has certainly held its own. The unemployment rate rose from 6.8 to 8.3 percent. The country's gross debt increased by 19.0 percent. The inflation rate fell from 1.8 percent previously to 0.5 percent by the end of 2020.

Income and purchasing power

The average monthly income in Sweden is 4,962 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 3.9 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Sweden than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 12.7 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
GDP635.66 bn USD61,028.74 USD17.177 tn USD33,384.92 USD
Gross national product620.15 bn USD59,539.64 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Sweden ranked 3rd in 2022 with 61.6 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 32 originate from Sweden. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 274: Volvo Group (Goteborg)
Rank 282: Investor AB (Stockholm)
Rank 421: Ericsson (Stockholm)
Rank 475: SEB AB (Stockholm)
Rank 519: Volvo Car (Gothenburg)
Rank 568: Swedbank (Sundbyberg)
Rank 578: Svenska Handelsbanken (Stockholm)
Rank 663: Atlas Copco (Nacka)
Rank 674: H&M - Hennes & Mauritz (Stockholm)
Rank 760: Sandvik (Stockholm)

Development of gross domestic product in billions of USD 1960 - 2021




Household debt and deficits 2022


 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
Gross debt185.09 bn USD17,770.09 USD13.976 tn USD27,163.16 USD
Budget deficit-4.32 bn USD-415.00 USD560.78 bn USD1,089.90 USD

Please note: A negative budget deficit equivalents to a surplus



Imports and Exports 2021

 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
Imports264.33 bn USD25,377.39 USD8.916 tn USD17,329.02 USD
Exports292.02 bn USD28,036.10 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1970 - 2021

Exports
Imports



Sweden: AirportsLargest airports and airlines in SwedenThe 30 biggest airports and 5 airlines in Sweden with further information and data with further information on airlines and destinations
Sweden: Public HolidaysPublic holidays in Sweden 2023-2027Statutory and inofficial holidays in Sweden for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.