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Sweden Economy 2016
http://www.theodora.com/wfbcurrent/sweden/sweden_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















Sweden Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 20, 2014

Economy - overview:
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.

GDP (purchasing power parity):
$393.8 billion (2013 est.)
country comparison to the world: 35

$390.4 billion (2012 est.)
$386.7 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$552 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.9% (2013 est.)
country comparison to the world: 177

1% (2012 est.)
2.9% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$40,900 (2013 est.)
country comparison to the world: 26

$40,900 (2012 est.)
$40,800 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
25.8% of GDP (2013 est.)
country comparison to the world: 45

25.8% of GDP (2012 est.)
26.9% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household 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.)

GDP - composition, by sector of origin:
agriculture: 2%
industry: 31.3%
services: 66.8% (2013 est.)

Agriculture - products:
barley, wheat, sugar beets; meat, milk

Industries:
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

Industrial production growth rate:
-1% (2013 est.)
country comparison to the world: 175
[see also: Industrial production growth rate country ranks ]

Labor force:
5.107 million (2013 est.)
country comparison to the world: 74
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.1%
industry: 28.2%
services: 70.7% (2008 est.)

Unemployment rate:
8.1% (2013 est.)
country comparison to the world: 90

8% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 22.2% (2000)

Distribution of family income - Gini index:
23 (2005)
country comparison to the world: 141

25 (1992)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $283.5 billion
expenditures: $294.7 billion (2013 est.)

Taxes and other revenues:
51.4% of GDP (2013 est.)
country comparison to the world: 12
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2% of GDP (2013 est.)
country comparison to the world: 88
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
41.5% of GDP (2013 est.)
country comparison to the world: 85

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
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0% (2013 est.)
country comparison to the world: 7

0.9% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5.5% (31 December 2010 est.)
country comparison to the world: 138

0.5% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.3% (31 December 2013 est.)
country comparison to the world: 163

3.57% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$254.3 billion (31 December 2013 est.)
country comparison to the world: 18

$260.1 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$349.4 billion (31 December 2013 est.)
country comparison to the world: 28

$347 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$798 billion (31 December 2013 est.)
country comparison to the world: 19

$792.5 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$560.5 billion (31 December 2012 est.)
country comparison to the world: 20

$470.1 billion (31 December 2011)
$581.2 billion (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$39 billion (2013 est.)
country comparison to the world: 15

$36.31 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$181.5 billion (2013 est.)
country comparison to the world: 28

$184.8 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals

Exports - partners:
Norway 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)

Imports:
$158 billion (2013 est.)
country comparison to the world: 30

$163.3 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing

Imports - partners:
Germany 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)

Reserves of foreign exchange and gold:
$52.23 billion (31 December 2012 est.)
country comparison to the world: 36

$50.35 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.039 trillion (31 December 2012 est.)
country comparison to the world: 18

$992.5 billion (31 December 2011)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$519.3 billion (31 December 2013 est.)
country comparison to the world: 17

$500.8 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$558.8 billion (31 December 2013 est.)
country comparison to the world: 14

$527.8 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Swedish kronor (SEK) per US dollar -

6.58 (2013 est.)
6.77 (2012 est.)
7.2075 (2010 est.)
7.6529 (2009)
6.4074 (2008)


NOTE: The information regarding Sweden on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sweden Economy 2016 information contained here. All suggestions for corrections of any errors about Sweden Economy 2016 should be addressed to the CIA.




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