Sweden:
Economy

Pages for other countries and territories

Other pages in this profile of Sweden:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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 skilled labor force. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. Agriculture accounts for only 1% of GDP and 2% of employment. Sweden is in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances have 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. The govenment plans to sell $31 billion in state assets during the next three years to further stimulate growth and raise revenue to pay down the federal debt. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty.
GDP (purchasing power parity)	Definition - World rank and map $334.6 billion (2007 est.)
GDP (official exchange rate)	Definition $455.3 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 2.6% (2007 est.)
GDP - per capita	Definition - World rank and map $36,500 (2007 est.)
GDP - composition by sector	Definition agriculture: 1.4% industry: 28.9% services: 69.8% (2007 est.)
Labor force	Definition 4.839 million (2007 est.)
Labor force - by occupation	Definition agriculture: 2% industry: 24% services: 74% (2000 est.)
Unemployment rate	Definition - World rank and map 6.1% (2007 est.)
Population below poverty line	Definition NA%
Household income or consumption by percentage share	Definition lowest 10%: 3.6% highest 10%: 22.2% (2000)
Distribution of family income - Gini index	Definition - World rank and map 23 (2005)
Inflation rate (consumer prices)	Definition - World rank and map 1.7% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 18.9% of GDP (2007 est.)
Budget	Definition revenues: $253.4 billion expenditures: $240.5 billion (2007 est.)
Public debt	Definition - World rank and map 41.2% of GDP (2007 est.)
Agriculture - products	Definition barley, wheat, sugar beets; meat, milk
Industries	Definition iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Industrial production growth rate	Definition - World rank and map 4% (2007 est.)
Electricity - production	Definition - World rank and map 153.2 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 134.1 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 14,825.3 kWh (2005)
Electricity - exports	Definition 21.97 billion kWh (2005)
Electricity - imports	Definition 14.58 billion kWh (2005)
Oil - production	Definition - World rank and map 2,350 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 363,200 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 40.2 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 231,100 bbl/day (2004)
Oil - imports	Definition - World rank and map 580,600 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 893.9 million cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 99 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 893.9 million cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $37.99 billion (2007 est.)
Exports	Definition - World rank and map $170.2 billion f.o.b. (2007 est.)
Exports - commodities	Definition machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals
Exports - partners	Definition Germany 10.4%, Norway 9.4%, US 7.6%, Denmark 7.4%, UK 7.1%, Finland 6.4%, Netherlands 5.1%, France 5%, Belgium 4.6% (2006)
Imports	Definition - World rank and map $150.6 billion f.o.b. (2007 est.)
Imports - commodities	Definition machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
Imports - partners	Definition Germany 18.4%, Denmark 9.2%, Norway 8.3%, UK 6.8%, Finland 6.1%, Netherlands 5.8%, France 5%, China 4.3%, Belgium 4.1% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $28.02 billion (2006 est.)
Debt - external	Definition - World rank and map $598.2 billion (30 June 2006)
Stock of direct foreign investment - at home	Definition $210.8 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $257.4 billion (2007 est.)
Market value of publicly traded shares	Definition $403.9 billion (2005)
Economic aid - donor	Definition ODA, $3.955 billion (2006)
Currency (code)	Definition Swedish krona (SEK)
Exchange rates	Definition Swedish kronor per US dollar - 6.7629 (2007), 7.3731 (2006), 7.4731 (2005), 7.3489 (2004), 8.0863 (2003)
Fiscal year	Definition calendar year

Sweden: Economy

Sweden:
Economy