Economy of Sweden
CurrencySwedish krona
(SEK • KR)
Calendar year
Trade organisations
EU, WTO, OECD and others
Country group
Population10,540,886 (2023)
  • $599 billion (nominal, 2023)[3]
  • $712 billion (PPP, 2023)[3]
GDP rank
GDP growth
  • 2.6% (2022)
  • −0.5% (2023)
  • 1.0% (2024)[3]
GDP per capita
  • $55,400 (nominal, 2023)[3]
  • $65,800 (PPP, 2023)[3]
GDP per capita rank
GDP by sector
6.8% (2023)[3]
Population below poverty line
  • 15% (2014)[5]
  • 18.4% at risk of poverty or social exclusion (AROPE; 2023)[6]
29.5 low (2023)[7]
Labour force
  • 5,503,812 (2020, ILO)[10]
  • 82.1% employment rate (2019)[11]
Labour force by occupation
  • agriculture: 2%
  • industry: 12%
  • services: 86%
  • (2014)[4]
  • 9.0% (September 2020)[12]
  • 28.9% youth unemployment (July 2020; 15 to 24 year-olds)[13]
Average gross salary
€46,400, per annum
€34,600, per annum
Main industries
Exports$170 billion (2017)[14]
Export goods
machinery, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals, military armaments
Main export partners
  • Germany 11%
  • Norway 10.2%
  • Finland 6.9%
  • United States 6.8%
  • Denmark 6.8%
  • United Kingdom 6.2%
  • Netherlands 5.4%
  • China 4.6%
  • (2017)[15]
Imports$155 billion (2017)[16]
Import goods
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
Main import partners
  • Germany 18.7%
  • Netherlands 8.8%
  • Norway 8.2%
  • Denmark 7.2%
  • United Kingdom 5.2%
  • Belgium 5.0%
  • Finland 4.7%
  • China 4.6%
  • France 3.9%
  • (2017)[17]
FDI stock
$0.5 trillion (31 December 2012 est.)
$911 billion (2019)[18]
Public finances
  • 35.1% of GDP (2019)[19]
  • SEK 1.765 trillion (2019)[19]
  • SEK 24.8 billion surplus (2019)[19]
  • +0.5% of GDP (2019)[19]
Revenues49.8% of GDP (2019)[19]
Expenses49.3% of GDP (2019)[19]
Economic aid
$60 billion (31 December 2012 est.)[25]
All values, unless otherwise stated, are in US dollars.
Historical development of real GDP per capita in Sweden

The economy of Sweden is a highly developed export-oriented economy, aided by timber, hydropower, and iron ore. These constitute the resource base of an economy oriented toward foreign trade. The main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry, iron, and steel. Traditionally, Sweden relied on a modern agricultural economy that employed over half the domestic workforce. Today Sweden further develops engineering, mine, steel, and pulp industries, which are competitive internationally, as evidenced by companies such as Ericsson, ASEA/ABB, SKF, Alfa Laval, AGA, and Dyno Nobel.[26]

Sweden is a competitive open mixed economy. The vast majority of Swedish enterprises are privately owned and market-oriented. There is also a strong welfare state, with public-sector spending accounting up to three-fifths of GDP.[27][28] In 2014, the percent of national wealth owned by the government was 24%.[29]

Due to Sweden being one of the neutral powers during World War II, it did not have to rebuild its economic base, the banking system, and country as a whole, as did many other European countries. Sweden has achieved a high standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. Sweden has the second highest total tax revenue behind Denmark, as a share of the country's income. As of 2012, the total tax revenue was 44.2% of GDP, down from 48.3% in 2006.[30]

In 2014 the National Institute of Economic research predicted GDP growth of 1.8%, 3.1% and 3.4% in 2014, 2015 and 2016 respectively.[31][needs update] A comparison of upcoming economic growth rates of European Union countries revealed that the Baltic states, Poland, and Slovakia are the only countries that are expected to keep comparable or higher growth rates.[32]


Main article: Economic history of Sweden

In the 19th century Sweden evolved from a largely agricultural economy into the beginnings of an industrialized, urbanized country. Poverty remained widespread, prompting a large portion of the country to emigrate, mainly to the United States. Economic reforms and the creation of a modern economic system, banks and corporations were enacted during the later half of the 19th century. During that time Sweden was in a way the "powerhouse" of the Scandinavian region with a strong industrialization process commencing in the 1860s. Moreover, the Swedish Riksdag had developed into a very active Parliament already during the Age of Liberty (1719–72), and this tradition continued into the nineteenth century, laying the basis for the transition towards modern democracy at the end of said century. Apart from relatively high levels of human capital formation, the result of the Reformation and related government policies, such local democratic traditions were the other asset that made the "catching up" of the Scandinavian countries, including Sweden, possible and this economic rise was probably the most remarkable phenomenon in that region during the nineteenth century.[33]

By the 1930s, Sweden had what Life magazine called in 1938 the "world's highest standard of living".[34] Sweden declared itself neutral during both world wars, thereby avoiding much physical destruction and instead, especially after the First World War, profiting from the new circumstances – such as booming demand for raw materials and foodstuffs and the disappearance of international competition for its exports.[35] The postwar boom, that was the continuation of strong inflationary tendencies during the war itself,[35] propelled Sweden to greater economic prosperity. Beginning in the 1970s and culminating with the deep recession of the early 1990s, Swedish standards of living developed less favorably than many other industrialized countries. Since the mid-1990s the economic performance has improved.[citation needed]

In 2009, Sweden had the world's tenth highest GDP per capita in nominal terms and was in 14th place in terms of purchasing power parity.[36]

Crisis of the 1990s

Main article: Swedish banking rescue

Sweden has had an economic model in the post-World War II era characterized by close cooperation between the government, labour unions, and corporations. The Swedish economy has extensive and universal social benefits funded by high taxes, close to 50% of GDP.[37] In the 1980s, a real estate and financial bubble formed, driven by a rapid increase in lending. A restructuring of the tax system, in order to emphasize low inflation combined with an international economic slowdown in the early 1990s, caused the bubble to burst. Between 1990 and 1993 GDP went down by 5% and unemployment skyrocketed, causing the worst economic crisis in Sweden since the 1930s. According to an analysis published in Computer Sweden in 1992, the investment level decreased drastically for information technology and computing equipment, except in the financial and banking sector, the part of the industry that created the crisis.[38] The investment levels for IT and computers were restored as early as 1993.[39] In 1992 there was a run on the currency, the central bank briefly jacking up interest to 500% in an unsuccessful effort to defend the currency's fixed exchange rate.[40] Total employment fell by almost 10% during the crisis.

A real estate boom ended in a bust. The government took over nearly a quarter of banking assets at a cost of about 4% of the nation's GDP. This was known colloquially as the "Stockholm Solution". In 2007, the United States Federal Reserve noted, "In the early 1970s, Sweden had one of the highest income levels in Europe; today, its lead has all but disappeared...So, even well-managed financial crises don't really have a happy ending".[41]

The welfare system that had been growing rapidly since the 1970s could not be sustained with a falling GDP, lower employment and larger welfare payments. In 1994 the government budget deficit exceeded 15% of GDP. The response of the government was to cut spending and institute a multitude of reforms to improve Sweden's competitiveness. When the international economic outlook improved combined with a rapid growth in the IT sector, which Sweden was well positioned to capitalize on, the country was able to emerge from the crisis.[42]

The crisis of the 1990s was by some viewed as the end of the much buzzed welfare model called "Svenska modellen", literally "The Swedish Model", as it proved that governmental spending at the levels previously experienced in Sweden was not long-term sustainable in a global open economy.[43] Much of the Swedish Model's acclaimed advantages actually had to be viewed as a result of the post WWII special situation, which left Sweden untouched when competitors' economies were comparatively weak.[44]

However, the reforms enacted during the 1990s seem to have created a model in which extensive welfare benefits can be maintained in a global economy.[37]

In recent years, the Swedish welfare state model has been weakened. Massive privatizations have been carried out since the 1990s, including in public services such as health and education. Inequality has risen sharply, in particular because of a tax system that does not tax wealth and inheritance.[45]


The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027). Inflation under 5% is in green.[46]

Year GDP

(in bn. US$PPP)

GDP per capita

(in US$ PPP)


(in bn. US$nominal)

GDP per capita

(in US$ nominal)

GDP growth


Inflation rate

(in percent)


(in percent)

Government debt

(in % of GDP)

1980 87.6 10,531.9 140.4 16,877.2 Increase4.6% Negative increase17.5% 2.7% n/a
1981 Increase100.2 Increase12,044.3 Decrease128.1 Decrease15,396.7 Increase4.5% Negative increase12.1% Negative increase3.4% n/a
1982 Increase107.9 Increase12,960.2 Decrease113.1 Decrease13,576.6 Increase1.4% Negative increase8.6% Negative increase4.3% n/a
1983 Increase114.5 Increase13,739.8 Decrease103.9 Decrease12,470.9 Increase2.1% Negative increase8.9% Negative increase4.8% n/a
1984 Increase123.7 Increase14,833.2 Increase108.3 Increase12,976.1 Increase4.3% Negative increase8.0% Positive decrease4.2% n/a
1985 Increase130.6 Increase15,629.1 Increase113.2 Increase13,549.5 Increase2.3% Negative increase7.4% Positive decrease3.9% n/a
1986 Increase137.2 Increase16,371.7 Increase149.6 Increase17,852.7 Increase3.0% Increase4.2% Positive decrease3.6% n/a
1987 Increase145.3 Increase17,263.6 Increase182.0 Increase21,629.3 Increase3.3% Increase4.2% Positive decrease2.9% n/a
1988 Increase154.1 Increase18,216.4 Increase205.9 Increase24,339.3 Increase2.5% Negative increase5.8% Positive decrease2.4% n/a
1989 Increase164.4 Increase19,278.6 Increase216.7 Increase25,412.2 Increase2.7% Negative increase6.4% Positive decrease2.0% n/a
1990 Increase171.8 Increase20,001.0 Increase259.9 Increase30,253.9 Increase0.8% Negative increase10.5% Negative increase2.2% n/a
1991 Increase175.7 Increase20,322.8 Increase272.2 Increase31,490.2 Decrease-1.1% Negative increase8.8% Negative increase4.0% n/a
1992 Increase178.0 Increase20,478.1 Increase283.2 Increase32,584.9 Decrease-0.9% Increase1.4% Negative increase7.1% n/a
1993 Increase178.9 Decrease20,455.1 Decrease213.0 Decrease24,351.1 Decrease-1.8% Increase4.7% Negative increase11.2% 65.7%
1994 Increase189.9 Increase21,537.6 Increase229.0 Increase25,978.3 Increase3.9% Increase2.9% Positive decrease10.8% Negative increase68.2%
1995 Increase201.5 Increase22,799.9 Increase267.3 Increase30,246.9 Increase3.9% Increase2.5% Positive decrease10.4% Negative increase68.3%
1996 Increase208.4 Increase23,565.4 Increase291.7 Increase32,986.1 Increase1.6% Increase1.0% Negative increase10.9% Negative increase68.7%
1997 Increase218.5 Increase24,699.1 Decrease268.1 Decrease30,307.2 Increase3.1% Increase1.8% Positive decrease10.9% Positive decrease67.4%
1998 Increase230.5 Increase26,034.3 Increase270.8 Increase30,585.1 Increase4.3% Increase1.0% Positive decrease8.8% Positive decrease65.1%
1999 Increase243.7 Increase27,500.4 Increase274.1 Increase30,928.6 Increase4.2% Increase0.6% Positive decrease7.6% Positive decrease60.1%
2000 Increase261.1 Increase29,393.1 Decrease262.8 Decrease29,589.1 Increase4.8% Increase1.3% Positive decrease6.3% Positive decrease50.2%
2001 Increase270.8 Increase30,400.8 Decrease242.4 Decrease27,207.5 Increase1.4% Increase2.7% Positive decrease5.8% Negative increase51.8%
2002 Increase281.1 Increase31,441.2 Increase266.8 Increase29,846.2 Increase2.2% Increase1.9% Negative increase6.0% Positive decrease49.8%
2003 Increase293.3 Increase32,674.8 Increase334.3 Increase37,249.3 Increase2.3% Increase2.3% Negative increase6.6% Positive decrease49.3%
2004 Increase314.2 Increase34,868.2 Increase385.1 Increase42,736.9 Increase4.3% Increase1.0% Negative increase7.4% Positive decrease48.5%
2005 Increase333.3 Increase36,841.1 Increase392.2 Increase43,349.9 Increase2.9% Increase0.8% Negative increase7.8% Negative increase48.8%
2006 Increase359.6 Increase39,463.0 Increase423.1 Increase46,425.8 Increase4.7% Increase1.5% Positive decrease7.2% Positive decrease43.7%
2007 Increase382.1 Increase41,605.3 Increase491.3 Increase53,496.5 Increase3.4% Increase1.7% Positive decrease6.3% Positive decrease39.0%
2008 Increase387.6 Increase41,877.3 Increase517.7 Increase55,929.9 Decrease-0.5% Increase3.3% Negative increase6.4% Positive decrease37.5%
2009 Decrease373.2 Decrease39,952.7 Decrease436.5 Decrease46,734.9 Decrease-4.3% Increase1.9% Negative increase8.5% Negative increase40.7%
2010 Increase400.2 Increase42,498.8 Increase495.8 Increase52,658.8 Increase6.0% Increase1.9% Negative increase8.8% Positive decrease38.1%
2011 Increase421.5 Increase44,450.3 Increase574.1 Increase60,540.2 Increase3.2% Increase1.4% Positive decrease8.0% Positive decrease37.1%
2012 Increase432.5 Increase45,258.8 Decrease552.5 Decrease57,816.0 Decrease-0.6% Increase0.9% Negative increase8.2% Negative increase37.5%
2013 Increase444.6 Increase46,098.8 Increase586.8 Increase60,845.0 Increase1.2% Increase0.4% Steady8.2% Negative increase40.2%
2014 Increase457.5 Increase46,936.6 Decrease582.0 Decrease59,704.8 Increase2.7% Increase0.2% Positive decrease8.1% Negative increase44.9%
2015 Increase481.3 Increase48,857.9 Decrease505.1 Decrease51,274.3 Increase4.5% Increase0.7% Positive decrease7.6% Positive decrease43.7%
2016 Increase500.4 Increase50,061.6 Increase515.7 Increase51,590.5 Increase2.1% Increase1.1% Positive decrease7.2% Positive decrease42.3%
2017 Increase530.4 Increase52,413.1 Increase541.0 Increase53,459.1 Increase2.6% Increase1.9% Positive decrease6.9% Positive decrease40.7%
2018 Increase553.7 Increase54,123.6 Increase555.5 Increase54,295.7 Increase2.0% Increase2.0% Positive decrease6.5% Positive decrease38.9%
2019 Increase574.8 Increase55,656.2 Decrease533.9 Decrease51,694.5 Increase2.0% Increase1.7% Negative increase7.0% Positive decrease34.9%
2020 Decrease569.1 Decrease54,830.0 Increase547.1 Increase52,706.3 Decrease-2.2% Increase0.7% Negative increase8.5% Negative increase39.2%
2021 Increase622.8 Increase59,587.3 Increase635.7 Increase60,815.5 Increase5.1% Increase2.7% Negative increase8.8% Positive decrease36.8%
2022 Increase684.5 Increase63,877.4 Decrease603.9 Decrease56,361.4 Increase2.6% Negative increase7.2% Positive decrease7.6% Positive decrease33.5%
2023 Increase707.9 Increase65,459.2 Increase654.0 Increase60,473.0 Decrease-0.1% Negative increase8.4% Positive decrease7.4% Positive decrease31.2%
2024 Increase738.2 Increase67,666.3 Increase693.2 Increase63,533.9 Increase2.1% Increase3.5% Positive decrease7.3% Positive decrease28.8%
2025 Increase769.4 Increase69,935.3 Increase732.6 Increase66,594.4 Increase2.3% Increase2.3% Positive decrease7.2% Positive decrease26.9%
2026 Increase799.2 Increase72,080.3 Increase769.9 Increase69,435.1 Increase1.9% Increase2.0% Steady7.2% Positive decrease25.5%
2027 Increase830.7 Increase74,376.1 Increase808.7 Increase72,405.1 Increase2.0% Increase2.0% Steady7.2% Positive decrease24.2%

Contemporary economy

Real GDP growth in Sweden 1996–2006
Natural resources of Sweden. Fe – iron ore, PY – pyrite, Cu – copper, Zn – zinc, As – arsenic, Ag – silver, Au – gold, Pb – lead, U – uranium; in red: C – coal, OS – oil shale.

Sweden is an export-oriented mixed economy featuring 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. Sweden's engineering sector accounts for 50% of output and exports. Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance. Agriculture accounts for 2 percent of GDP and employment. The armaments industry has a technologically highly advanced reputation.[47]

The 20 largest Sweden-registered companies by turnover as of 2013 were Volvo, Ericsson, Vattenfall, Skanska, Hennes & Mauritz, Electrolux, Volvo Personvagnar, Preem, TeliaSonera, Sandvik, ICA, Atlas Copco, Nordea, Svenska Cellulosa Aktiebolaget, Scania, Securitas, Nordstjernan, SKF, ABB Norden Holding, and Sony Mobile Communications AB.[48] Sweden's industry is overwhelmingly in public and state control, the most prominent example of this is LKAB, a state-owned mining company, mostly active in the northern part of the country, with the largest noted market share out of all its domestic competitors.

Some 4.5 million residents are working, out of which around a third have a tertiary education. GDP per hour worked is the world's 9th-highest at US$31 in 2006, compared to US$22 in Spain and US$35 in United States.[49] According to the OECD, deregulation, globalization, and technology-sector growth have been key drivers of productivity.[49] GDP per hour worked is growing 2+12 per cent a year for the economy as a whole and trade-terms-balanced productivity growth 2%.[49] Sweden is a world leader in privatized pensions, and pension-funding problems are small compared to many other Western European countries.[50] The Swedish labor market has become more flexible, but it still has some widely acknowledged problems.[49] The typical worker receives only 40% of their income after the tax wedge. The slowly declining overall taxation, 51% of GDP in 2007, is still nearly double of that in the United States or Ireland. Civil servants amount to a third of Swedish workforce, multiple times the proportion in many other countries. Overall, GDP growth has been fast since reforms in the early 1990s, especially in manufacturing.[51]

World Economic Forum 2012–2013 competitiveness index ranks Sweden 4th most competitive.[52] The Index of Economic Freedom 2012 ranks Sweden the 21st most free out of 179 countries, or 10th out of 43 European countries.[53] Sweden ranked 9th in the IMD Competitiveness Yearbook 2008, scoring high in private sector efficiency.[54] According to the book, The Flight of the Creative Class, by the U.S. urban studies, Professor Richard Florida of University of Toronto, Sweden is ranked as having the best creativity in Europe for business and is predicted to become a talent magnet for the world's most purposeful workers. The book compiled an index to measure the kind of creativity it claims is most useful to business – talent, technology and tolerance.[55] Sweden's investment into research and development stood, in 2007, at over 3.5% of GDP. This is considerably higher than that of a number of MEDCs, including the United States, and is the largest among the OECD members.[56]

Sweden rejected the Euro in a referendum in 2003, and Sweden maintains its own currency, the Swedish krona (SEK). The Swedish Riksbank – founded in 1668 and thus making it the oldest central bank in the world – is currently focusing on price stability with its inflation target of 2%. According to Economic Survey of Sweden 2007 by OECD, the average inflation in Sweden has been one of the lowest among European countries since the mid-1990s, largely because of deregulation and quick utilization of globalization.[49]

The largest trade flows are with Germany, United States, Norway, United Kingdom, Denmark and Finland.

The Swedish economic picture has brightened significantly since the severe recession in the early 1990s. Growth has been strong in recent years, and even though the growth in the economy slackened between 2001 and 2003, the growth rate has picked up since with an average growth rate of 3.7% in the last three years. The long-run prospects for growth remain favorable. The inflation rate is low and stable, with projections for continued low levels over the next 2–3 years.[needs update]

Since the mid-1990s the export sector has been booming, acting as the main engine for economic growth. Swedish exports also have proven to be surprisingly robust. A marked shift in the structure of the exports, where services, the IT industry, and telecommunications have taken over from traditional industries such as steel, paper and pulp, has made the Swedish export sector less vulnerable to international fluctuations. However, at the same time the Swedish industry has received less money for its exports while the import prices have gone up. During the period 1995–2003 the export prices were reduced by 4% at the same time as the import prices climbed by 11%. The net effect is that the Swedish terms-of-trade fell 13%.[57]

By 2014, legislators, economists and the IMF were warning of a bubble with residential property prices soaring and the level of personal mortgage debt expanding. Household debt-to-income rose above 170% as the IMF called on legislators to consider zoning reform and other means of generating a greater supply of housing as demand was outstripping supply. By August 2014, 40% of home borrowers had interest-only loans while those that didn't were repaying principal at a rate that would take 100 years to fully repay.[58]

Parts of this article (those related to Government) need to be updated. Please help update this article to reflect recent events or newly available information. (June 2016)


Sweden bonds
  20 year
  10 year
  5 year
  2 year
  6 month
  3 month
  1 month

The government budget has improved dramatically from a record deficit of more than 12% of GDP in 1993. In the last decade, from 1998 to present, the government has run a surplus every year, except for 2003 and 2004. The surplus for 2011 is expected to be 99 billion ($15b) kronor.[59] The new, strict budget process with spending ceilings set by the Riksdag, and a constitutional change to an independent Central Bank, have greatly improved policy credibility.

From the perspective of longer-term fiscal sustainability, the long-awaited reform of old-age pensions entered into force in 1999. This entails a far more robust system vis-à-vis adverse demographic and economic trends, which should keep the ratio of total pension disbursements to the aggregate wage bill close to 20% in the decades ahead. Taken together, both fiscal consolidation and pension reform have brought public finances back on a sustainable footing. Gross public debt, which jumped from 43% of GDP in 1990 to 78% in 1994, stabilised around the middle of the 1990s and started to come down again more significantly beginning in 1999. In 2000 it fell below the key level of 60% and had declined to a level of 35% of GDP as of 2010.[60]


In 2022, the sector with the highest number of companies registered in Sweden is Services with 457,044 companies followed by Finance, Insurance, and Real Estate with 184,377 companies.

Economic and monetary union

Main article: Sweden and the euro

Current economic development reflects a quite remarkable improvement of the Swedish economy since the crisis in 1991–93, so that Sweden could easily qualify for membership in the third phase of the Economic and Monetary Union of the European Union, adopting the euro as its currency. In theory, by the rules of the EMU, Sweden is obliged to join, since the country has not obtained exception by any protocol or treaty (as opposed to Denmark and the United Kingdom). Nevertheless, the Swedish government decided in 1997 against joining the common currency from its start on 1 January 1999. This choice was implemented by exploiting a legal loophole, deliberately staying out of the European Exchange Rate Mechanism.[61] This move is currently tolerated by the European Central Bank, which however has warned that this would not be the case for newer EU members.[62]

In the first years of the twenty-first century, a majority for joining emerged in the governing Social Democratic party, although the question was subject of heated debate, with leading personalities in the party on both sides. On 14 September 2003, a national referendum was held on the euro. A 56% majority of Swedes rejected the common currency, while 42% voted in favour of it.[63] Currently no plans for a new referendum or parliamentary vote on the matter are being discussed, though it has been implied that another referendum may take place in around ten years.[64]


In contrast with most other European countries, Sweden maintained an unemployment rate around 2% or 3% of the work force throughout the 1980s.[65] This was, however, accompanied by high and accelerating inflation.[citation needed] It became evident that such low unemployment rates were not sustainable, and in the severe crisis of the early 1990s the rate increased to more than 8%. In 1996 the government set out a goal of reducing unemployment to 4% by 2000. During 2000 employment rose by 90,000 people, the greatest increase in 40 years, and the goal was reached in the autumn of 2000. The same autumn the government set out its new target: that 80% of the working age population will have a regular job by 2004. Some have expressed concern that meeting the employment target may come at a cost of too high a rate of wage increases hence increasing inflation. However, as of August 2006, roughly 5% of working age Swedes were unemployed, over the government-established goal. However, some of the people who cannot find work are put away in so-called "labour market political activities", referred to as "AMS-åtgärder".[66]

According to Jan Edling, a former trade-unionist, the actual number of unemployed is far higher, and those figures are being suppressed by both the government and the Swedish Trade Union Confederation. In Edling's report he added that a further 3% of Swedes were occupied in state-organised job schemes, not in the private sector. He also claimed a further 700,000 Swedes are either on long-term sick leave or in early retirement. Edling asks how many of these people are in fact unemployed. According to his report, the "actual unemployment" rate hovers near 20%.[67] Some critics disagree with this concept of "actual" unemployment, also termed "broad unemployment", since they do not see e.g. students who rather want a job, people on sick leave and military conscripts as "unemployed".[68]

According to Swedish Statistics, unemployment in June 2013 was 9.1% in the general population and 29% amongst 15- to 25-year-olds.[69]

Trade unions

Around seventy percent of the Swedish labour force is unionised.[70][71] For most unions there is a counterpart employer's organization for businesses. The unions and employer organisations are independent of both the government and political parties, although the largest confederation of unions, the National Swedish Confederation of Trade Unions or LO (organising blue-collar workers), maintains close links to one of the three major parties, the Social Democrats.

The unionisation rate among white-collar workers is exceptionally high in Sweden – since 2008 higher than for blue-collar workers. In 2022, blue-collar density was 59%, and white-collar density was 73% (full-time students working part-time excluded). Just before the considerably raised fees to union unemployment funds in January 2007, blue-collar and white-collar union density was the same (77% in 2006).[72][73] The average union density was 70% in the years 2011–2014, 69% in 2015-2017 and 68% in 2018 and 2019. There are two major confederations that organise professionals and other qualified employees: the Swedish Confederation of Professional Employees (Tjänstemännens Centralorganisation or TCO) and the Swedish Confederation of Professional Associations (Sveriges Akademikers Centralorganisation or SACO). They are both independent from Sweden's political parties and never endorse candidates for office in political elections.

There is no minimum wage that is required by legislation. Instead, minimum wage standards in different sectors are normally set by collective bargaining. About 90% of all workers are covered by collective agreements, in the private sector 83% (2018).[74][75] The high coverage of collective agreements is achieved despite the absence of state mechanisms extending collective agreements to whole industries or sectors. This reflects the dominance of self-regulation (regulation by the labour market parties themselves) over state regulation in Swedish industrial relations.[76][77]

Sweden has not joined the EMU (the Economic and Monetary Union / the Euro) and will not in the foreseeable future. When the issue was at the agenda, the Swedish union movement was very split.[78] In contrast to the very positive attitude of employers' associations, the union rank-and file opinion was so split that several unions, as well as the confederations LO, TCO and SACO, abstained from taking an official position.

Labour force

The traditionally low wage differential has increased in recent years as a result of increased flexibility as the role of wage setting at the company level has strengthened somewhat. Still, Swedish unskilled employees are well paid while well educated Swedish employees are low-paid compared with those in competitor countries in Western Europe and the US. The average increases in real wages in recent years have been high by historical standards, in large part due to unforeseen price stability. Even so, nominal wages in recent years have been slightly above those in competitor countries. Thus, while private-sector wages rose by an average annual rate of 3.75% from 1998 to 2000 in Sweden, the comparable increase for the EU area was 1.75%. In the year 2000 the total labour force was around 4.4 million people.[68]

Ongoing and finished privatisations

The Swedish government has announced that it will privatise a number of wholly and partly state owned companies. "The income from these sales will be used to pay off the government debt and reduce the burden of debt for future generations. The Government's ambition was to sell companies to a value of SEK 200 billion during 2007–2010."[79]

Ongoing privatisations
Completed privatisations

See also

Other links


  1. ^ "World Economic and Financial Surveys World Economic Outlook Database—WEO Groups and Aggregates Information April 2024". International Monetary Fund.
  2. ^ "World Bank Country and Lending Groups". World Bank. Retrieved 29 September 2019.
  3. ^ a b c d e f "Report for Selected Countries and Subjects". IMF. Retrieved 16 April 2023.
  4. ^ a b "EUROPE :: Sweden". Central Intelligence Agency. Retrieved 19 November 2021.
  5. ^ "Sweden". The World Factbook. CIA. Retrieved 27 January 2020.
  6. ^ "People at risk of poverty or social exclusion". Eurostat.
  7. ^ "Gini coefficient of equivalised disposable income - EU-SILC survey". Eurostat.
  8. ^ "Human Development Index (HDI)". HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 17 November 2022.
  9. ^ "Inequality-adjusted HDI (IHDI)". UNDP. Retrieved 17 November 2022.
  10. ^ "Labor force, total - Sweden". World Bank & ILO. Retrieved 27 September 2020.
  11. ^ "Employment rate by sex, age group 20-64". Eurostat. Retrieved 27 September 2020.
  12. ^ "Unemployment by sex and age - monthly average". Eurostat. Retrieved 17 October 2020.
  13. ^ "Unemployment rate by age group". OECD. Retrieved 8 September 2020.
  14. ^ "CIA - the World Factbook -- Rank Order - Exports". Archived from the original on 4 October 2008. Retrieved 22 March 2017.
  15. ^ "Export till våra 30 största handelspartner". Statistics Sweden. Retrieved 18 February 2018.
  16. ^ "CIA - the World Factbook -- Rank Order - Imports". Archived from the original on 4 October 2008. Retrieved 22 March 2017.
  17. ^ "Import från våra 30 största handelspartner". Retrieved 18 February 2018.
  18. ^ Debt - External "Sweden", The World Factbook, Central Intelligence Agency, 7 April 2022, retrieved 20 April 2022
  19. ^ a b c d e f "Euro area and EU27 government deficit both at 0.6% of GDP" (PDF). Eurostat. Retrieved 28 April 2020.
  20. ^ "Archived copy" (PDF). Archived (PDF) from the original on 25 December 2017. Retrieved 25 December 2017.((cite web)): CS1 maint: archived copy as title (link)
  21. ^ "Archived copy" (PDF). Archived (PDF) from the original on 20 April 2017. Retrieved 25 December 2017.((cite web)): CS1 maint: archived copy as title (link)
  22. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
  23. ^ a b c Rogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 28 May 2011.
  24. ^ "Scope affirms the Kingdom of Sweden's credit ratings at AAA and maintains the Stable Outlook". Scope Ratings. Retrieved 17 September 2023.
  25. ^ "CIA World Fact book – Sweden". CIA. 31 December 2012. Retrieved 26 July 2013.
  26. ^ Agricultural toward Industrial|Swedish economic history Archived 9 August 2012 at the Wayback Machine. (28 September 2012). Retrieved on 29 January 2013.
  27. ^ "How Sweden Created a Model Economy". 2 November 2018. Archived from the original on 3 September 2019. Retrieved 3 October 2019. Today, Sweden has a diverse and highly competitive and successful economy. The World Economic Forum ranks Sweden among the top ten most competitive countries in the world. Sweden is also one of the easiest countries in the world to do business with, according to the World Bank. A key feature of the Swedish economy is its openness and liberal approach to trade and doing business.
  28. ^ "Sweden - Economy". Encyclopedia Britannica. Retrieved 3 October 2019. Most enterprises are privately owned and market-oriented, but when transfer payments—such as pensions, sick pay, and child allowances—are included, roughly three-fifths of gross domestic product (GDP) passes through the public sector. Education, health care, and child care costs are primarily met by taxation. Government involvement in the distribution of national income, however, diminished over the last two decades of the 20th century.
  29. ^ Public Wealth in the US and Nordic Countries
  30. ^ Skattetrycket| Skattetryck| Skatter| Fakta och statistik Archived 23 September 2015 at the Wayback Machine. Retrieved on 29 January 2013.
  31. ^ "Swedish economy marking time". NIER. Archived from the original on 19 October 2014. Retrieved 19 October 2014.
  32. ^ "Taking Europe's Pulse". The Economist. Retrieved 5 May 2014.
  33. ^ Baten, Jörg (2016). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. p. 22f. ISBN 9781107507180.
  34. ^ "King Gustaf of Sweden". Life. 11 July 1938. p. 31. Retrieved 12 October 2012.
  35. ^ a b Baten, Jörg (2016). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. p. 25. ISBN 9781107507180.
  36. ^ " – Country Briefings: Sweden". The Economist.
  37. ^ a b Steinmo, Sven. 2001. "Bucking the Trend? The Welfare State and Global Economy: The Swedish Case Up Close." University of Colorado, 18 December.
  38. ^ "Computer Sweden 1992". Archived from the original on 20 October 2017. Retrieved 3 March 2015.
  39. ^ "Computer Sweden 1993". Archived from the original on 20 October 2017. Retrieved 3 March 2015.
  40. ^ "Krona's Fall Threatens a New Currency Crisis in Europe – International Herald Tribune". Archived from the original on 13 May 2008. Retrieved 19 August 2007.
  41. ^ Ergungor, O. Emre (June 2007). "On the Resolution of Financial Crises: The Swedish Experience" (PDF). Policy Discussion Papers (21). ISSN 1528-4344. Archived from the original (PDF) on 21 October 2013. Retrieved 3 March 2015.
  42. ^ "Celsius Centre for Scandinavian Studies". Archived from the original on 28 October 2007. Retrieved 19 August 2007.
  43. ^ (in Swedish) Anförande vid the Economists konferens om Sverige Archived 5 July 2009 at the Wayback Machine. Retrieved on 29 January 2013.
  44. ^ From War to the Swedish Model| Swedish economic history Archived 23 July 2009 at the Wayback Machine. (28 September 2012). Retrieved on 29 January 2013.
  45. ^ "Global index shows Sweden worst in the Nordic countries at fighting inequality - Oxfam Sweden".
  46. ^ "Report for Selected Countries and Subjects".
  47. ^ Pierre, Andrew J. (1982). The Global Politics of Arms Sales. Princeton Legacy Library. Princeton, New Jersey: Princeton University Press (published 2014). p. 121. ISBN 9781400854271. Retrieved 30 September 2020. [...] Sweden considers its relatively self-sufficient defense industry to be a cornerstone of its neutrality policy. [...] Its arms industry is highly advanced technologically [...].
  48. ^ 20 largest companies in Sweden
  49. ^ a b c d e Economic survey of Sweden 2007 Archived 26 April 2011 at the Wayback Machine
  50. ^ Pension Reform in Sweden: Lessons for American Policymakers Archived 13 January 2010 at the Wayback Machine by Goran Normann, PhD and Daniel J. Mitchell, PhD 29 June 2000.
  51. ^ OECD Economic Surveys: Sweden – Volume 2005 Issue 9 by OECD Publishing
  52. ^ "The Global Competitiveness Report 2012 - 2013". Africa Competitiveness 2013. Retrieved 3 March 2015.
  53. ^ "Sweden". Retrieved 3 March 2015.
  54. ^ "WCC - Home". IMD. Retrieved 3 March 2015.
  55. ^ ""Sweden most creative country in Europe & top talent hotspot" Archived 21 May 2007 at the Wayback Machine, Invest in Sweden Agency, 25 June 2005.
  56. ^ "Main Science and Technology Indicators" (PDF). Organization for Economic Co-operation and Development. Archived from the original (PDF) on 15 February 2010. Retrieved 7 September 2008.
  57. ^ "Archived copy" (PDF). Archived from the original (PDF) on 19 February 2006. Retrieved 14 January 2022.((cite web)): CS1 maint: archived copy as title (link)
  58. ^ "Sweden facing possible property bubble warns IMF". Sweden News.Net. 24 August 2014. Retrieved 26 August 2014.
  59. ^ "Archived copy" (PDF). Archived from the original (PDF) on 28 July 2011. Retrieved 11 July 2011.((cite web)): CS1 maint: archived copy as title (link)
  60. ^ "Debt facts -". Archived from the original on 27 February 2017. Retrieved 11 July 2011.
  61. ^ J. James Reade, Ulrich Volz (April 2010). "Too Much to Lose, or More to Gain? Should Sweden Join the Euro?" (PDF). University of Birmingham.
  62. ^ Palankai, Tibor (July 2015). "THE INTRODUCTION OF THE EURO AND CENTRAL EUROPE" (PDF). Journal of Scientific Papers ECONOMICS & SOCIOLOGY.
  63. ^ "Sweden turns back on euro". BBC News. 15 September 2003. Retrieved 1 May 2010.
  64. ^ Syll, Lars (July 2018). "Lars Syll: My Finest Hour – Sweden´s Euro Referendum". Brave New Europe.
  65. ^ "Sweden Unemployment Rate". Index Mundi. Retrieved 12 December 2011.
  66. ^ "Stefan Karlsson's blog". Retrieved 3 March 2015.
  67. ^ Alla behövs Archived 26 May 2006 at the Wayback Machine Pdf file
  68. ^ a b "Swedish Market". Archived from the original on 21 November 2021. Retrieved 6 August 2018.
  69. ^ "Labour Force Survey". Statistics Sweden. Archived from the original on 8 July 2011. Retrieved 11 July 2011.
  70. ^ Arbetsgivarna starkare än fackföreningarna. DN.SE (18 June 2009). Retrieved on 29 January 2013.
  71. ^ Kjellberg, Anders (2023) The Nordic Model of Industrial Relations: comparing Denmark, Finland, Norway and Sweden. Department of Sociology, Lund University and Max Planck Institute for the Study of Societies, Cologne.
  72. ^ Anders Kjellberg (2020) Kollektivavtalens täckningsgrad samt organisationsgraden hos arbetsgivarförbund och fackförbund, Department of Sociology, Lund University. Studies in Social Policy, Industrial Relations, Working Life and Mobility. Research Reports 2020:1, Appendix 3 (in English) Table A (updated 2023); see also Anders Kjellberg (2017) The Membership Development of Swedish Trade Unions and Union Confederations Since the End of the Nineteenth Century (Studies in Social Policy, Industrial Relations, Working Life and Mobility). Research Reports 2017:2 (updated 2020). Lund: Department of Sociology, Lund University
  73. ^ Anders Kjellberg (2011) "The Decline in Swedish Union Density since 2007" Nordic Journal of Working Life Studies (NJWLS) Vol. 1. No 1 (August 2011), pp. 67-93
  74. ^ Anders Kjellberg (2020) Kollektivavtalens täckningsgrad samt organisationsgraden hos arbetsgivarförbund och fackförbund, Department of Sociology, Lund University. Studies in Social Policy, Industrial Relations, Working Life and Mobility. Research Reports 2020:1, Appendix 3 (in English) Table F
  75. ^ Anders Kjellberg (2019) "Sweden: collective bargaining under the industry norm", in Torsten Müller & Kurt Vandaele & Jeremy Waddington (eds.) Collective bargaining in Europe: towards an endgame, European Trade Union Institute (ETUI) Brussels 2019. Vol. III (pp. 583-604)
  76. ^ Anders Kjellberg (2017) ”Self-regulation versus State Regulation in Swedish Industrial Relations” In Mia Rönnmar and Jenny Julén Votinius (eds.) Festskrift till Ann Numhauser-Henning. Lund: Juristförlaget i Lund 2017, pp. 357-383
  77. ^ Kjellberg, Anders (2023) ‘’Trade unions in Sweden: still high union density, but widening gaps by social category and national origin. In Jeremy Waddington & Torsten Mueller & Kurt Vandaele (eds.) Trade unions in the European Union. Picking up the pieces of the neoliberal challenge. Brussels: Peter Lang and Etui. Series: Travail et Société / Work and Society, Volume 86, 2023, chapter 28, pp. 1051-1092.
  78. ^ Kjellberg, Anders (2000) "The Multitude of Challenges Facing Swedish Trade Unions", in Jeremy Waddington & Reiner Hoffmann (eds.) Trade Unions in Europe: Facing Challenges and Searching For Solutions, Bryssels: European Trade Union Institute, pp. 529-573, in particular pp. 544-547. ISBN 2-930143-36-3
  79. ^ "Felsida". Retrieved 3 March 2015.
  80. ^ "Annual + Sustainability Report 2015" (PDF). Teliasonera. p. 47. Retrieved 22 December 2016.
  81. ^ "Privata Affärer – Placeringstips och råd om aktier, fonder, sparande och privatekonomi". Archived from the original on 27 September 2007. Retrieved 3 March 2015.
  82. ^ "2018 års redogörelse för företag med statligt ägande". 18 June 2018.
  83. ^ "Svenska staten har sålt 13,8 miljoner aktier i SAS". 13 October 2016.
  84. ^ "Regeringen har sålt hela OMX-innehavet". Dagens Industri. 15 February 2008. Retrieved 2 May 2008.
  85. ^ "Pernod wins auction for Vin & Sprit". The Local. 31 March 2008. Retrieved 31 March 2008.
  86. ^ "Shareholders |". Archived from the original on 13 November 2006. Retrieved 28 April 2007.