Sweden

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. 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 about 90% of industrial output, of which the engineering sector accounts for 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 growth continued downward 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 the strong rebound in 2010.

$354 billion (2010 est.)

$340.1 billion (2009 est.)

$358.4 billion (2008 est.)

$444.6 billion (2010 est.)

4.1% (2010 est.)

-5.1% (2009 est.)

-0.6% (2008 est.)

$39,000 (2010 est.)

$37,500 (2009 est.)

$39,600 (2008 est.)

4.93 million (2010 est.)

8.3% (2010 est.)

8.3% (2009 est.)

NA%

23 (2005)

25 (1992)

18.1% of GDP (2010 est.)

40.8% of GDP (2010 est.)

41.6% of GDP (2009 est.)

1.4% (2010 est.)

-0.3% (2009 est.)

2% (31 December 2008)

3.5% (31 December 2007)

NA% (31 December 2009 est.)

NA% (31 December 2008 est.)

$225 billion (31 December 2010 est)

$205.2 billion (31 December 2009 est)

$293.2 billion (31 December 2010 est.)

$260.3 billion (31 December 2009 est.)

$640.2 billion (31 December 2010 est.)

$583.8 billion (31 December 2009 est.)

$432.3 billion (31 December 2009)

$252.5 billion (31 December 2008)

$612.5 billion (31 December 2007)

barley, wheat, sugar beets; meat, milk

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

8% (2010 est.)

144 billion kWh (2007 est.)

134.5 billion kWh (2007 est.)

14.71 billion kWh (2008 est.)

12.75 billion kWh (2008 est.)

4,833 bbl/day (2009 est.)

328,100 bbl/day (2009 est.)

248,500 bbl/day (2008 est.)

589,900 bbl/day (2008 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

1.229 billion cu m (2009 est.)

0 cu m (2008 est.)

1.229 billion cu m (2009 est.)

0 cu m (1 January 2010 est.)

$21.68 billion (2010 est.)

$30.23 billion (2009 est.)

$162.6 billion (2010 est.)

$133.3 billion (2009 est.)

machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals

Norway 10.61%, Germany 10.2%, UK 7.45%, Denmark 7.35%, Finland 6.44%, US 6.36%, France 5.05%, Netherlands 4.67% (2009)

$158.6 billion (2010 est.)

$120.5 billion (2009 est.)

machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing

Germany 17.9%, Denmark 8.9%, Norway 8.7%, Netherlands 6.17%, UK 5.56%, Finland 5.14%, France 5.06%, China 4.79% (2009)

$NA (31 December 2010 est.)

$47.29 billion (31 December 2009 est.)

$853.3 billion (30 June 2010)

$617.3 billion (31 December 2008)

$321.4 billion (31 December 2010 est.)

$304.5 billion (31 December 2009 est.)

$383.9 billion (31 December 2010 est.)

$367.4 billion (31 December 2009 est.)

Swedish kronor (SEK) per US dollar - 7.5077 (2010), 7.6529 (2009), 6.4074 (2008), 6.7629 (2007), 7.3731 (2006)