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Indicators of economy in Sweden

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Sweden reached 52.274 US dollars per inhabitant, or 541.22 bn US Dollar in the whole country. Sweden is therefore currently ranked 22 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Sweden is in the list of the world's richest countries in place 17.

Inflation in Sweden was in 2020 at around 0.50%. Within the EU, the average in the same year was 0.50%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 9.8% higher.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Sweden

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Sweden in 2020 increased from 533.88 billion US Dollar to 541.22 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 1.4 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 19.1%. The inflation rate has fallen from 1.8 percent previously to 0.5 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
GDP541.22 bn USD52,274.41 USD15,291.93 tn USD29,692.11 USD
Gross national product559.62 bn USD54,051.95 USD15,330.84 tn USD29,767.66 USD


Sweden ranked 5th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 32 of the 2000 largest listed companies in the world originate from Sweden. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 215: Volvo Group (Gothenburg)
Rank 261: Investor AB (Stockholm)
Rank 293: Ericsson (Kista)
Rank 400: SEB AB (Stockholm)
Rank 453: Svenska Handelsbanken (Stockholm)
Rank 501: Swedbank (Stockholm)
Rank 582: Atlas Copco (Stockholm)
Rank 639: Essity Ab (Stockholm)
Rank 745: Sandvik (Stockholm)
Rank 753: Assa Abloy (Stockholm)

Development of the Gross domestic product in billion US Dollar 1960 - 2020


Household debt and deficits 2020


 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
Gross debt225.00 bn USD21,731.84 USD13,783.28 tn USD26,762.78 USD
Budget deficit15.32 bn USD1,479.44 USD1,053.73 bn USD2,046.02 USD


Im- and Exports 2020

 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
Imports218.36 bn USD21,090.76 USD7,340.01 bn USD14,251.98 USD
Exports243.69 bn USD23,536.86 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1970 - 2020

Exports
Imports



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