Economy — Sweden
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for Sweden: Sweden is known for its highly developed mixed economy and strong welfare state. Strong Economy: Sweden boasts a high standard of living and a strong economy. It is the largest economy in Scandinavia and ranks among the top countries globally in terms of GDP per capita. Key sectors of the Swedish economy include man…
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Economic overview
- Economic Overview
Sweden is known for its highly developed mixed economy and strong welfare state.
Strong Economy: Sweden boasts a high standard of living and a strong economy.
It is the largest economy in Scandinavia and ranks among the top countries globally in terms of GDP per capita.
Key sectors of the Swedish economy include manufacturing, services, innovation, and exports.
Export-Oriented: Sweden has a robust export-oriented economy.
Major exports include machinery, vehicles, pharmaceuticals, chemicals, and electrical equipment.
Well-known Swedish companies such as Volvo, IKEA, Ericsson, and H&M contribute significantly to the country's export success.
Innovation and Technology: Sweden has a reputation for innovation and technological advancements.
The country invests heavily in research and development (R&D) and promotes a supportive environment for entrepreneurship and startups.
It is home to successful tech companies, including Spotify, Skype, and Klarna.
Well-Developed Welfare State: Sweden has a comprehensive welfare system that provides a high level of social security.
It offers universal healthcare, generous parental leave, free education up to the university level, and strong social safety nets.
The welfare state is funded through high taxes and contributions from individuals and businesses.
Strong Focus on Sustainability: Sweden places a strong emphasis on sustainability and environmental responsibility.
The country has made significant strides in renewable energy, waste management, and sustainable transportation.
It aims to be one of the world's first fossil fuel-free nations.
Stable Macroeconomic Policies: Sweden maintains a stable and well-managed economy.
The government follows prudent fiscal policies, and the central bank, Sveriges Riksbank, focuses on maintaining price stability.
This stability contributes to investor confidence and economic growth.
Active Labor Market: Sweden has a highly skilled and educated workforce.
The labor market operates with a combination of flexibility and worker protection.
Labor unions play a significant role in negotiating wages and working conditions.
Open to Global Trade: Sweden is an active participant in global trade.
It is a member of the European Union (EU) but has not adopted the euro and uses the Swedish Krona (SEK) as its currency.
The country has trade agreements with numerous countries and is known for its commitment to free trade.
Strong Social Partnership: The Swedish model is characterized by a strong social partnership between employers, employees, and the government.
This collaboration contributes to labor market stability, cooperative wage-setting, and social harmony.
- Industries
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
- GDP - per capita (PPP)
$48,000.00 (USD)
- GDP - real growth rate
2.8%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$524,750,000,000 (USD)
- GDP Per Capita
$48,000.00 (USD)
- GDP - real growth rate
2.8%
- GDP - official exchange rate
$483,700,000,000 (USD)
- GDP - composition, by end use
- household consumption: 45.4%
- government consumption: 25.6%
- investment in fixed capital: 24.1%
- investment in inventories: 0%
- exports of goods and services: 45.3%
- imports of goods and services: -40.4%
- GDP by Sector- agriculture
1.8%
- GDP by Sector- Industry
33.5%
- GDP by Sector- services
64.7%
- Industrial Growth Rate
8%
Prices & money
- Inflation Rate
1.4%
- Exchange Rate per US Dollar
Swedish krona (SEK)
- Currency Name and Code
Swedish Krona (SEK)
- Fiscal Year
calendar year
- Commercial Bank Prime Lending Rate
3.3%
Employment & labor
- Labor Force
4,930,000
- Unemployment Rate
8.3%
- Major Industries
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
- Agriculture Products
barley, wheat, sugar beets; meat, milk
Public finance
- Annual Budget
$230,100,000,000 (USD)
- Public Debt (% of GDP)
50.3%
- Budget Surplus or Deficit - percent of GDP
-2%
- Taxes and other revenues - percent of GDP
51.4%