Economy of Sweden
Population: 10.18 M (2018)
GDP per Capita: 54,608 USD (2018)
556,090 M.

GDP USD

(2018)

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254,620 M.

EXPORTS USD

(2018)

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240,710 M.

IMPORTS USD

(2018)

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35.10 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.23 % (2018)
GDP of 2010 USD USD 589.80 B. (2018)
GDP Current USD USD 556.09 B. (2018)
GDP per Capita Current USD USD 54,608 (2018)
GDP per capita, PPP USD 47,718 (2018)
GDP per Capita, 2010 USD USD 57,921 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 26.02 % (2018)
Government Spending USD 144.70 B. (2018)
Government Debt % GDP 35.10 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 114.37 (2018)
Trade Openness 89.07 % (2018)
Exports of Goods and Services % GDP 45.79 % (2018)
Exports Goods & Services USD 254.62 B. (2018)
Exports Annual Growth 3.16 % (2018)
Imports as % GDP 43.29 % (2018)
Total Imports USD 240.71 B. (2018)
Foreign Direct Investment % GDP 1.62 % (2018)
Foreign Direct Investment USD 4.63 B. (2018)
Current Account Balance % GDP USD 1.70 % (2018)
Current Account Balance USD 9.48 B. (2018)
Trade Balance % GDP 2.50 % (2018)
Trade Balance USD 10.36 B. (2018)
Foreign Exchange Reserves incl Gold USD 60.57 B. (2018)
Remittances % GDP 0.57 % (2018)
Remittances USD 536 M. (2018)
Balance of Payments USD 7,011 M. (2017)

Labor Market

Indicator Value
Labor Force 5.43 M. (2019)
Unemployment Rate 6.84 % (2019)
Unemployment Rate Females 6.22 % (2019)
Unemployment Rate Males 6.71 % (2019)
Youth Unemployment (ages 15-24) 18.45 % (2019)
Labor Force Participation Rate 64.36 % (2019)
Labor Force (Percent Female) 47.74 % (2019)
Female Labor Force Participation Rate 61.17 % (2019)
Male Labor Force Participation Rate 67.57 % (2019)
Dependent People 60.46 % (2018)

Agriculture Sector

Indicator Value
Forest Area 68.90 % (2016)
Forest Area km² 280,730 km² (2016)
Agricultural Land 7.44 % (2016)
Agricultural Land km² 30,315 km² (2016)
Employment 1.79 % (2019)
Value added % GDP 1.38 % (2018)
Agriculture Value added USD 7.65 B. (2018)
Crop Production Index 115.00 (2016)
Precipitation 624 mm (2014)
Arable Land 6 % (2016)
Cereal Yield 5,992 kg/hectare (2017)
Food production index 100 (2016)
Rural Population 13 % (2018)
Fertilizer use of Arable Land 96 kg/hectare (2016)
Livestock Production Index 93 (2016)
Economy of Sweden

According to the World Bank and its latest published data, the economy of the Sweden presents a growth rate of 2.23 % (2018) to the previous year.

With a population that reaches 10.18 M (2018) and a gross domestic product of USD 556.09 B. (2018), it translates a Gross Domestic Product per Capita of USD 54,608 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Sweden also has a workforce of 5.43 M. (2019) with an unemployment rate of 6.84 % (2019), where women represent 6.22 % (2019) and men 6.71 % (2019), the unemployment rate for young people between 15-24 years old stood at 18.45 % (2019). The total number of dependent people stands at 60.46 % (2018).

The central government spent 26.02 % (2018) of its gross domestic product that year, which in absolute terms is USD 144.70 B. (2018). Its consolidated public debt reached 35.10 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Sweden exported USD 254.62 B. (2018), which represents 45.79 % (2018) of its gross domestic product, in that same sense its imports reached USD 240.71 B. (2018) with a direct foreign investment of USD 4.63 B. (2018).

Sweden has a forest area of 280,730 km² (2016), which represents 68.90 % (2016) of its total area, an average rainfall of 624 mm (2014) per year and a population of 13 % (2018) living in rural areas. With a total area of 30,315 km² (2016) available for agriculture and 1.79 % (2019) of its employments, the agricultural sector contributes to the economy of the Sweden about USD 7.65 B. (2018) (1.38 % (2018) of its GDP).