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Sweden's economy in numbers:
Nominal GDP of USD 585 billion in 2023.
Nominal GDP of USD 591 billion in 2022.
GDP per capita of USD 55,425 compared to the global average of USD 10,589.
GDP per capita of USD 56,208 compared to the global average of USD 10,589.
Average real GDP growth of 2% over the last decade.
Average real GDP growth of 2.1% over the last decade.
Economic structure:
In 2021, services accounted for 77% of overall GDP, manufacturing 13%, other industrial activity 9%, and agriculture 1%. Looking at GDP by expenditure, private consumption accounted for 44% of GDP in 2021, government consumption 26%, fixed investment 26%, and net exports 4%.International trade:
In 2021, manufactured products made up 72% of total merchandise exports, mineral fuels 7%, food 6%, ores and metals 6% and agricultural raw materials 5%, with other categories accounting for 4% of the total. In the same period, manufactured products made up 71% of total merchandise imports, mineral fuels 10%, food 10%, ores and metals 3% and agricultural raw materials 1%, with other goods accounting for 5% of the total. Total exports were worth USD 219 billion in 2022, while total imports were USD 198 billion.Economic growth:
The economy recorded average annual growth of 2.1% in the decade to 2022. To read more about GDP growth in Sweden, go to our dedicated page.
Fiscal policy:
Sweden's fiscal deficit averaged 0.2% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 7.6% in the decade to 2022. For more information on Sweden's unemployment click here.
Inflation:
Inflation averaged 1.7% in the decade to 2022. Go to our Sweden inflation page for extra insight.
Monetary Policy:
Sweden's monetary policy rate ended 2022 at 2.50%, up from 1.00% a decade earlier. See our Sweden monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the krona weakened by 37.5% vs the U.S. dollar. For more info on the krona, click here.
52 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 28 expert analysts.
Want to get insight on the economic outlook for Sweden in the coming years? FocusEconomics collects projections out to 2034 on 52 economic indicators for Sweden from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Sweden economy. To download a sample report on the Sweden's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.