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Sweden

Sweden Economy Stats

Overview:

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.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • GDP > Real growth rate: GDP growth on an annual basis adjusted for inflation and expressed as a percent.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $269.60 billion 2013 17th out of 223
Debt > Government debt > Public debt, share of GDP 38.6 CIA 2014 94th out of 153
Exports $184.80 billion 2012 28th out of 189
Fiscal year calendar year 2013
GDP $525.74 billion 2012 22nd out of 177
GDP > Composition by sector > Industry 27.3% 2012 102nd out of 217
GDP > Per capita $37,481.64 per capita 2007 16th out of 183
GDP > Per capita > PPP $40,300.00 2012 14th out of 188
GDP > Purchasing power parity $385.10 billion 2012 34th out of 190
GDP > Real growth rate 1% 2012 141st out of 191
GDP per capita $55,244.65 2012 7th out of 177
Gross National Income $226.00 billion 2001 19th out of 158
Inflation rate > Consumer prices 0.9% 2012 189th out of 199
Public debt 38.2% of GDP 2012 90th out of 149
Unemployment rate 8% 2012 49th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); CIA World Factbooks 2010, 2011, 2012, 2013; All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.

Citation

"Sweden Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Sweden/Economy

NationMaster

Sweden Economy Profiles (Subcategories)

Adjusted savings 3 Innovation 42
Aid 6 Intellectual property 7
Balance of payments 28 Interest payments 3
Budget 10 International tourism 14
Business 4 Investment 3
Changes in net 4 Labor force 3
Commercial service 4 Market capitalization of listed companies 4
Commercial service imports 4 Merchandise 4
Commitment to Development Index 4 Merchandise imports 4
Companies 30 Micro 4
Consumption 10 National accounts 104
Currency 15 Natural gas 8
Current account balance 5 Net capital account 4
Current transfers 4 Net current transfers 4
Debt 54 Net current transfers from abroad 6
Economic aid 3 Net errors and omissions 4
Economic growth 8 Net income 4
Economic structure 4 Net income from abroad 6
Electricity 8 Net incurrence of liabilities 3
Entrepreneurship 12 Net trade in goods 4
Exports 3 Net trade in goods and services 4
External balance on goods and services 7 Oil 10
Final 20 Portfolio investment 4
Financial sector 35 Poverty 3
Foreign direct investment 14 Poverty and inequality 8
GDP 42 Productivity 7
GDP growth 4 Public expenditure 4
GDP per capita 4 Purchasing power parity 11
GNI 12 Reserves 6
Goods 4 Royalty and license fees 8
Goods imports 4 Savings 44
Government 15 Service 4
Government debt 8 Service imports 4
Government deficits and debt 4 Services 10
Government spending 5 Spending 73
Gross capital formation 10 Stock of direct foreign investment 6
Gross domestic savings 6 Stocks traded 5
Gross fixed capital formation 10 Support and aid 4
Gross national expenditure 9 Tax 79
Gross savings 6 Taxes 3
Gross value added at factor cost 9 Total 9
High-technology 4 Tourism 21
Household final 23 Tourism expenditures 5
Income 24 Tourism receipts 5
Income distribution 4 Tourist arrivals by region of origin 6
Income payments 4 Trade 1652
Income receipts 4 Trademark applications 4
Inequality 13 Transnational corporations 4
Inflation 11 Welfare 5
Sweden ranked third for GDP per capita amongst European Union in 2012.
Sweden ranked #11 for GDP amongst Christian countries in 2012.
Sweden ranked #4 for human development index amongst Europe in 2006.
Sweden ranked first for research and development spending amongst High income OECD countries in 2000.
Sweden ranked first for currency > PPP conversion factor to official exchange rate ratio amongst Non-religious countries in 2005.

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