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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 12,230 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 2021 was around 2.16%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 9.3 percent higher.
The index for perceived corruption in the public sector is 85, 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 19.2 percent. The inflation rate fell from 1.8 percent previously to 0.5 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

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


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. 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 2021


 Sweden
Total
Sweden
per capita
EU
Total
EU
per capita
Gross debt227.75 bn USD21,865.65 USD15.068 tn USD29,285.70 USD
Budget deficit1.50 bn USD144.13 USD799.24 bn USD1,553.35 USD


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



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