FACTOID # 3: The eight most developed countries all speak Germanic languages.

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## Economy Statistics > GDP (official exchange rate) > Sweden (historical data)

 VIEW DATA: Values
Definition     Source      Printable version
 Date Amount Rank 2010 \$444,600,000,000.00 #23 2007 \$455,300,000,000.00 #19 2006 \$372,500,000,000.00 #19 2005 \$348,100,000,000.00 #20

DEFINITION: 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 offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.

SOURCE: CIA World Factbooks 18 December 2003 to 28 March 2011

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