Sweden - Economic Indicators

A Taste of Sweden's Dismal Second Quarter

Aug 05, 2020

The preliminary estimate of Sweden's second-quarter GDP confirmed our fears that no economy will be spared from the COVID-19 pandemic. Real GDP plunged 8.6% q/q in the second quarter, following a 0.3% decline in the first. The modest contraction in the first quarter and the fact that Sweden left nonessential retail and workplaces open meant that the hit to output was lighter than in countries that locked down completely. However, this inflated expectations...

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GDP Reference Last Previous Units Frequency
Private Consumption 2019 Q4 575,679 554,228 Mil. SEK, NSA Quarterly
Real Private Consumption 2019 Q4 564,817 538,150 Mil. Ch. 2018 SEK, NSA Quarterly
Government Consumption 2019 Q4 352,102 320,439 Mil. SEK, NSA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2019 Q4 317,667 317,457 Mil. SEK, SA Quarterly
Real Government Consumption 2019 Q4 349,339 273,471 Mil. Ch. 2018 SEK, NSA Quarterly
Real Gross Domestic Product 2019 Q4 1,229,282 1,227,350 Mil. Ch. 2018 SEK, SA Quarterly
Real Investment 2019 Q4 321,981 285,019 Mil. Ch. 2018 SEK, NSA Quarterly
Investment 2019 Q4 340,075 283,201 Mil. SEK, NSA Quarterly
Nominal Gross Domestic Product 2019 Q4 1,317,003 1,203,369 Mil. SEK, NSA Quarterly
Real Fixed Investment (gross fixed capital formation) 2019 Q4 308,516 309,872 Mil. Ch. 2018 SEK, SA Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Aug 2020 337.07 337.57 1980=100, NSA Monthly
Producer Price Index (PPI) Aug 2020 108.9 109.1 Index 2015=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Labor Force Employment Aug 2020 5,050 4,998 Ths. #, SA Monthly
Labor Force Aug 2020 5,558 5,502 Ths. #, SA Monthly
Unemployment Aug 2020 508 504 Ths. #, SA Monthly
Unemployment Rate Aug 2020 9.1 9.2 %, SA Monthly
Wage & Salaries 2020 Q2 612,366 599,633 Mil. SEK, NSA Quarterly
Total Employment 2017 5,016 4,896 Ths. # Annual
Agriculture Employment 2017 99,212 98,925 # Annual
Trade Reference Last Previous Units Frequency
Exports of Goods Jul 2020 110,191 109,201 Millions of Swedish Kroner, SA Monthly
Imports of Goods Jul 2020 107,761 105,992 Millions of Swedish Kroner, SA Monthly
Balance of Goods Jul 2020 2,431 3,208 Millions of Swedish Kroner, SA Monthly
Current Account Balance 2020 Q2 63.2 75.5 Bil. SEK, NSA Quarterly
Exports of Goods and Services 2019 Q4 619,016 585,326 Mil. SEK, NSA Quarterly
Real Exports of Goods and Services 2019 Q4 596,091 565,217 Mil. Ch. 2018 SEK, NSA Quarterly
Real Imports of Goods and Services 2019 Q4 549,439 524,354 Mil. Ch. 2018 SEK, NSA Quarterly
Imports of Goods and Services 2019 Q4 569,869 539,825 Mil. SEK, NSA Quarterly
Government Reference Last Previous Units Frequency
Government Budget Balance 2019 111.9 80 Bil. SEK Annual
Government Expenditures 2019 943.6 992.1 Bil. SEK Annual
Government Revenues 2019 1,055 1,072 Bil. SEK Annual
Markets Reference Last Previous Units Frequency
Lending Rate 25 Sep 2020 0 0 Percent, NSA Daily
Average Long-term Government Bond 24 Sep 2020 -0.1 -0.1 % P.A., NSA Business Daily
Treasury Bills (over 31 days) 24 Sep 2020 -0.13 -0.13 % P.A., NSA Business Daily
Stock Market Index 24 Sep 2020 1,777 1,795 Index, NSA Business Daily
Money Market Rate 03 Jul 2020 -0.04 -0.04 Percent, NSA Business Daily
Real Estate Reference Last Previous Units Frequency
Building Permits 2020 Q2 2,710 2,444 Number, NSA Quarterly
Non-residential Building Permits 2020 Q2 1,045 868 Number, NSA Quarterly
Residential Building Permits 2020 Q2 1,665 1,576 Number, NSA Quarterly
House Price Index 2020 Q2 826 808 1981=100, NSA Quarterly
Building Completions 2020 Q2 37,627 45,727 #, SAAR Quarterly
Residential Housing Starts 2020 Q2 12,504 12,327 #, NSA Quarterly
House Price Index for Existing Homes 2020 Q1 118.5 116.5 Index 2015=100, NSA Quarterly
House Price Index for New Homes 2020 Q1 128.78 129.49 Index 2015=100, NSA Quarterly
Consumer Reference Last Previous Units Frequency
Consumer Confidence Aug 2020 0.9 0.1 SA Monthly
Real Retail Sales Jul 2020 113.9 111.8 Vol. Index 2015=100, WDASA Monthly
Retail Sales Dec 2017 147.8 127.1 2010=100, WDA Monthly
Business Reference Last Previous Units Frequency
Capacity Utilization 2020 Q3 77 72.4 %, SA Quarterly
Business Confidence Aug 2020 -7 -10.2 SA Monthly
Industrial Production Jul 2020 103.8 100.8 Ch. Vol. Index 2015=100, WDASA Monthly
Change in Inventories 2019 Q4 -325 -9,038 Mil. SEK, NSA Quarterly
Demographics Reference Last Previous Units Frequency
Births 2019 114,523 115,832 # Annual
Deaths 2019 88,766 92,185 # Annual
Population 2019 10,327,589 10,230,185 absolute Annual
Net Migration 2017 200,000 # Annual
Death Rate 2015 9.3 9.2 # per Ths. pop. Annual
Birth Rate 2010 12.3 # per Ths. pop. Annual

Factbook

Background

Background:
A military power during the 17th century, Sweden has not participated in any war for two centuries. An armed neutrality was preserved in both world wars. Sweden's long-successful economic formula of a capitalist system intermixed with substantial welfare elements was challenged in the 1990s by high unemployment and in 2000-02 and 2009 by the global economic downturns, but fiscal discipline over the past several years has allowed the country to weather economic vagaries. Sweden joined the EU in 1995, but the public rejected the introduction of the euro in a 2003 referendum.

Geography

Location:
Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, Kattegat, and Skagerrak, between Finland and Norway
Geographic coordinates:
62 00 N, 15 00 E
Map references:
Europe
Area:
total: 450,295 sq km
land: 410,335 sq km
water: 39,960 sq km
country comparison to the world: 57
Area - comparative:
almost three times the size of Georgia; slightly larger than California
Land boundaries:
total: 2,211 km
border countries (2): Finland 545 km, Norway 1,666 km
Coastline:
3,218 km
Maritime claims:
territorial sea: 12 nm (adjustments made to return a portion of straits to high seas)
exclusive economic zone: agreed boundaries or midlines
continental shelf: 200-m depth or to the depth of exploitation
Climate:
temperate in south with cold, cloudy winters and cool, partly cloudy summers; subarctic in north
Terrain:
mostly flat or gently rolling lowlands; mountains in west
Elevation:
mean elevation: 320 m
elevation extremes: lowest point: reclaimed bay of Lake Hammarsjon, near Kristianstad -2.4 m
highest point: Kebnekaise 2,111 m
Natural resources:
iron ore, copper, lead, zinc, gold, silver, tungsten, uranium, arsenic, feldspar, timber, hydropower
Land use:
agricultural land: 7.5%
arable land 6.4%; permanent crops 0%; permanent pasture 1.1%
forest: 68.7%
other: 23.8% (2011 est.)
Irrigated land:
1,640 sq km (2012)
Population - distribution:
most Swedes live in the south where the climate is milder and there is better connectivity to mainland Europe; population clusters are found all along the Baltic coast in the east; the interior areas of the north remain sparsely populated
Natural hazards:
ice floes in the surrounding waters, especially in the Gulf of Bothnia, can interfere with maritime traffic
Environment - current issues:
acid rain damage to soils and lakes; pollution of the North Sea and the Baltic Sea
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
strategic location along Danish Straits linking Baltic and North Seas; Sweden has almost 100,000 lakes, the largest of which, Vanern, is the third largest in Europe

People & Society

Population:
9,960,487 (July 2017 est.)
country comparison to the world: 91
Nationality:
noun: Swede(s)
adjective: Swedish
Ethnic groups:
indigenous population: Swedes with Finnish and Sami minorities; most common countries of origin among immigrants: Syria, Finland, Iraq, Poland, Iran
Languages:
Swedish (official)
note: Finnish, Sami, Romani, Yiddish, and Meankieli are official minority languages
Religions:
Church of Sweden (Lutheran) 63%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 17% (2016 est.)
Age structure:
0-14 years: 17.43% (male 892,462/female 843,375)
15-24 years: 11.31% (male 581,025/female 545,971)
25-54 years: 39.42% (male 1,993,590/female 1,933,080)
55-64 years: 11.58% (male 578,942/female 574,479)
65 years and over: 20.26% (male 931,593/female 1,085,970) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 58.5
youth dependency ratio: 27.4
elderly dependency ratio: 31.1
potential support ratio: 3.2 (2015 est.)
Median age:
total: 41.2 years
male: 40.2 years
female: 42.2 years (2017 est.)
country comparison to the world: 41
Population growth rate:
0.81% (2017 est.)
country comparison to the world: 128
Birth rate:
12.1 births/1,000 population (2017 est.)
country comparison to the world: 167
Death rate:
9.4 deaths/1,000 population (2017 est.)
country comparison to the world: 57
Net migration rate:
5.3 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 23
Population distribution:
most Swedes live in the south where the climate is milder and there is better connectivity to mainland Europe; population clusters are found all along the Baltic coast in the east; the interior areas of the north remain sparsely populated
Urbanization:
urban population: 86.1% of total population (2017)
rate of urbanization: 0.86% annual rate of change (2015-20 est.)
Major urban areas - population:
STOCKHOLM (capital) 1.486 million (2015)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.06 male(s)/female
25-54 years: 1.03 male(s)/female
55-64 years: 1.01 male(s)/female
65 years and over: 0.85 male(s)/female
total population: 1 male(s)/female (2017 est.)
Mother's mean age at first birth:
29.1 years (2015 est.)
Maternal mortality ratio:
4 deaths/100,000 live births (2015 est.)
country comparison to the world: 177
Infant mortality rate:
total: 2.6 deaths/1,000 live births
male: 2.9 deaths/1,000 live births
female: 2.3 deaths/1,000 live births (2017 est.)
country comparison to the world: 218
Life expectancy at birth:
total population: 82.1 years
male: 80.2 years
female: 84.2 years (2017 est.)
country comparison to the world: 16
Total fertility rate:
1.88 children born/woman (2017 est.)
country comparison to the world: 141
Health expenditures:
11.9% of GDP (2014)
country comparison to the world: 6
Physicians density:
4.19 physicians/1,000 population (2014)
Hospital bed density:
2.4 beds/1,000 population (2015)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 99.3% of population
rural: 99.6% of population
total: 99.3% of population
unimproved:
urban: 0.7% of population
rural: 0.4% of population
total: 0.7% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.2% (2016 est.)
country comparison to the world: 98
HIV/AIDS - people living with HIV/AIDS:
11,000 (2016 est.)
country comparison to the world: 92
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
20.6% (2016)
country comparison to the world: 97
Education expenditures:
7.7% of GDP (2014)
country comparison to the world: 20
School life expectancy (primary to tertiary education):
total: 18 years
male: 17 years
female: 20 years (2014)
Unemployment, youth ages 15-24:
total: 20.4%
male: 21.2%
female: 19.6% (2015 est.)
country comparison to the world: 65

Government

Country name:
conventional long form: Kingdom of Sweden
conventional short form: Sweden
local long form: Konungariket Sverige
local short form: Sverige
etymology: name ultimately derives from the North Germanic Svear tribe, which inhabited central Sweden and is first mentioned in the first centuries A.D.
Government type:
parliamentary constitutional monarchy
Capital:
name: Stockholm
geographic coordinates: 59 20 N, 18 03 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
21 counties (lan, singular and plural); Blekinge, Dalarna, Gavleborg, Gotland, Halland, Jamtland, Jonkoping, Kalmar, Kronoberg, Norrbotten, Orebro, Ostergotland, Skane, Sodermanland, Stockholm, Uppsala, Varmland, Vasterbotten, Vasternorrland, Vastmanland, Vastra Gotaland
Independence:
6 June 1523 (Gustav VASA elected king of Sweden, marking the abolishment of the Kalmar Union between Denmark, Norway, and Sweden)
National holiday:
National Day, 6 June (1983); note - from 1916 to 1982 this date was celebrated as Swedish Flag Day
Constitution:
history: several previous; latest adopted 1 January 1975
amendments: proposed by Parliament; passage requires simple majority vote in two consecutive parliamentary terms with an intervening general election; passage also requires approval by simple majority vote in a referendum if Parliament approves a motion for a referendum by one-third of its members; amended several times, last in 2014 (changes to the "Instrument of Government") (2016)
Legal system:
civil law system influenced by Roman-Germanic law and customary law
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: the father must be a citizen of Sweden; in the case of a child born out of wedlock, the mother must be a citizen of Sweden and the father unknown
dual citizenship recognized: no, unless the other citizenship was acquired involuntarily
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: King CARL XVI GUSTAF (since 19 September 1973); Heir Apparent Princess VICTORIA Ingrid Alice Desiree, daughter of the monarch (born 14 July 1977)
head of government: Prime Minister Stefan LOFVEN (since 3 October 2014); Deputy Prime Minister Isabella LOVIN (since 25 May 2016)
cabinet: Cabinet appointed by the prime minister
elections/appointments: the monarchy is hereditary; following legislative elections, the leader of the majority party or majority coalition usually becomes the prime minister
Legislative branch:
description: unicameral Parliament or Riksdag (349 seats; 310 members directly elected in multi-seat constituencies by proportional representation vote and 39 members in "at-large" seats directly elected by proportional representation vote; members serve 4-year terms)
elections: last held on 14 September 2014 (next to be held on or before 9 September 2018)
election results: percent of vote by party - SAP 31.0%, M 23.3%, SD 12.9%, MP 6.9%, C 6.1%, V 5.7%, L 5.4%, KD 4.6%, other 4.1%; seats by party - SAP 113, M 84, SD 49, MP 25, C 22, V 21, L 19, KD 16
Judicial branch:
highest court(s): Supreme Court of Sweden (consists of 16 justices including the court chairman); Supreme Administrative Court (consists of 18 justices including the court president)
judge selection and term of office: Supreme Court and Supreme Administrative Court justices nominated by the Board of Judges, a 9-member nominating body consisting of high-level judges, prosecutors, and members of Parliament; justices appointed by the Government; following a probationary period, justices' appointments are permanent
subordinate courts: first instance, appellate, general, and administrative courts; specialized courts that handle cases such as land and environment, immigration, labor, markets, and patents
Political parties and leaders:
Center Party (Centerpartiet) or C [Annie LOOF]
Christian Democrats (Kristdemokraterna) or KD [Ebba Busch THOR]
Green Party (Miljopartiet de Grona) or MP [Isabella LOVIN and Gustav FRIDOLIN]
Left Party (Vansterpartiet) or V [Jonas SJOSTEDT]
Liberal Party (Liberalerna) or L [Jan BJORKLUND]
Moderate Party (Moderaterna) or M [Ulf KRISTERSSON]
Swedish Social Democratic Party (Socialdemokraterna) or SAP [Stefan LOFVEN]
Sweden Democrats (Sverigedemokraterna) or SD [Jimmie AKESSON]
Political pressure groups and leaders:
Confederation of Swedish Enterprise (Svenskt Naringsliv) [Carola LEMNE]
Swedish Confederation of Professional Associations or SACO [Goran ARRIUS]
Swedish Confederation of Professional Employees or TCO [Eva NORDMARK]
Swedish Trade Union Confederation (Landsorganisationen) or LO [Karl-Petter THORWALDSSON]
other: environmental groups; media
International organization participation:
ADB (nonregional member), AfDB (nonregional member), Arctic Council, Australia Group, BIS, CBSS, CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, G-9, G-10, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, MONUSCO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, OSCE, Paris Club, PCA, PFP, Schengen Convention, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNHCR, UNIDO, UNMISS, UNMOGIP, UNRWA, UNTSO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Karin Ulrika OLOFSDOTTER (since 17 September 2017)
chancery: The House of Sweden, 2900 K Street NW, Washington, DC 20007
telephone: [1] (202) 467-2600
FAX: [1] (202) 467-2699
consulate(s) general: New York
Diplomatic representation from the US:
chief of mission: Ambassador (vacant); Charge d'Affaires David E. LINDWALL (since 20 January 2017)
embassy: Dag Hammarskjolds Vag 31, SE-11589 Stockholm
mailing address: American Embassy Stockholm, US Department of State, 5750 Stockholm Place, Washington, DC 20521-5750
telephone: [46] (08) 783 53 00
FAX: [46] (08) 661 19 64
Flag description:
blue with a golden yellow cross extending to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag); the colors reflect those of the Swedish coat of arms - three gold crowns on a blue field
National symbol(s):
three crowns, lion; national colors: blue, yellow
National anthem:
name: "Du Gamla, Du Fria" (Thou Ancient, Thou Free)
lyrics/music: Richard DYBECK/traditional
note: in use since 1844; also known as "Sang till Norden" (Song of the North), is based on a Swedish folk tune; it has never been officially adopted by the government; "Kungssangen" (The King's Song) serves as the royal anthem and is played in the presence of the royal family and during certain state ceremonies

Economy

Economy - overview:
Sweden’s small, open, and competitive economy has been thriving and Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system.
Timber, hydropower, and iron ore constitute the resource base of a manufacturing economy that relies heavily on foreign trade. Exports, including engines and other machines, motor vehicles, and telecommunications equipment, account for more than 44% of GDP. Sweden enjoys a current account surplus of about 5% of GDP, which is one of the highest margins in Europe.
GDP grew an estimated 3.3% in 2016 and 2017 driven largely by investment in the construction sector. Economic growth is expected to ease slightly in the coming years as this investment subsides. Global economic growth boosted exports of Swedish manufactures further, helping drive domestic economic growth in 2017. The central bank is keeping an eye on deflationary pressures and is expected to maintain its expansionary monetary policy in 2018. Swedish prices and wages have grown only slightly over the past few years, helping to support the country’s competitiveness.
In the short and medium term Sweden’s economic challenges include keeping rising house prices in check and successfully integrating migrants into the labor market.
GDP (purchasing power parity):
$521.7 billion (2017 est.)
$506 billion (2016 est.)
$490.4 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 39
GDP (official exchange rate):
$541.9 billion (2017 est.)
GDP - real growth rate:
3.1% (2017 est.)
3.2% (2016 est.)
4.1% (2015 est.)
country comparison to the world: 108
GDP - per capita (PPP):
$51,300 (2017 est.)
$50,600 (2016 est.)
$49,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 26
Gross national saving:
29.9% of GDP (2017 est.)
29.2% of GDP (2016 est.)
28.9% of GDP (2015 est.)
country comparison to the world: 24
GDP - composition, by end use:
household consumption: 44.2%
government consumption: 25.4%
investment in fixed capital: 25.3%
investment in inventories: 0.3%
exports of goods and services: 45.5%
imports of goods and services: -40.7% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 1.6%
industry: 33%
services: 65.4% (2017 est.)
Agriculture - products:
barley, wheat, sugar beets; meat, milk
Industries:
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Industrial production growth rate:
2.5% (2017 est.)
country comparison to the world: 115
Labor force:
5.361 million (2017 est.)
country comparison to the world: 77
Labor force - by occupation:
agriculture: 2%
industry: 12%
services: 86% (2014 est.)
Unemployment rate:
6.6% (2017 est.)
7% (2016 est.)
country comparison to the world: 93
Population below poverty line:
15% (2014 est.)
Household income or consumption by percentage share:
lowest 10%: 3.4%
highest 10%: 24% (2012 est.)
Distribution of family income - Gini index:
24.9 (2013 est.)
25 (1992 est.)
country comparison to the world: 151
Budget:
revenues: $274.8 billion
expenditures: $269.9 billion (2017 est.)
Taxes and other revenues:
50.7% of GDP (2017 est.)
country comparison to the world: 15
Budget surplus (+) or deficit (-):
0.9% of GDP (2017 est.)
country comparison to the world: 19
Public debt:
39% of GDP (2017 est.)
41.7% of GDP (2016 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 138
Fiscal year:
calendar year
Inflation rate (consumer prices):
1.6% (2017 est.)
1.1% (2016 est.)
country comparison to the world: 73
Central bank discount rate:
-0.5% (31 December 2016 est.)
-0.35% (31 December 2015 est.)
note:: the Discount rate was abolished in 2002, and replaced by a "Reference rate" with no bearing on monetary policy; the rate quoted here is the Reference rate
country comparison to the world: 161
Commercial bank prime lending rate:
2% (31 December 2017 est.)
1.85% (31 December 2016 est.)
country comparison to the world: 177
Stock of narrow money:
$339.9 billion (31 December 2017 est.)
$273.5 billion (31 December 2016 est.)
country comparison to the world: 15
Stock of broad money:
$395.8 billion (31 December 2017 est.)
$321.3 billion (31 December 2016 est.)
country comparison to the world: 29
Stock of domestic credit:
$953.1 billion (31 December 2017 est.)
$748.6 billion (31 December 2016 est.)
country comparison to the world: 17
Market value of publicly traded shares:
$560.5 billion (31 December 2012 est.)
$470.1 billion (31 December 2011 est.)
$581.2 billion (31 December 2010 est.)
country comparison to the world: 21
Current account balance:
$21.4 billion (2017 est.)
$23.07 billion (2016 est.)
country comparison to the world: 17
Exports:
$169.7 billion (2017 est.)
$151.4 billion (2016 est.)
country comparison to the world: 30
Exports - commodities:
machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals (2012 est.)
Exports - partners:
Germany 10.6%, Norway 10.4%, US 7.3%, Denmark 7%, Finland 6.8%, UK 6%, Netherlands 5.4%, Belgium 4.7%, France 4.4% (2016)
Imports:
$154.8 billion (2017 est.)
$139.9 billion (2016 est.)
country comparison to the world: 29
Imports - commodities:
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing
Imports - partners:
Germany 18.8%, Netherlands 8.2%, Norway 7.8%, Denmark 7.6%, China 5.6%, UK 5.2%, Belgium 4.6%, Finland 4.5%, France 4.1% (2016)
Reserves of foreign exchange and gold:
$59.39 billion (31 December 2016 est.)
$59.39 billion (31 December 2016 est.)
country comparison to the world: 37
Debt - external:
$939.9 billion (31 March 2016 est.)
$929.4 billion (31 March 2015 est.)
country comparison to the world: 17
Stock of direct foreign investment - at home:
$405.1 billion (31 December 2017 est.)
$390.5 billion (31 December 2016 est.)
country comparison to the world: 20
Stock of direct foreign investment - abroad:
$495.7 billion (31 December 2017 est.)
$479.3 billion (31 December 2016 est.)
country comparison to the world: 17
Exchange rates:
Swedish kronor (SEK) per US dollar -
8.44 (2017 est.)
8.56 (2016 est.)
8.56 (2015 est.)
8.43 (2014 est.)
6.86 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
154.3 billion kWh (2015 est.)
country comparison to the world: 25
Electricity - consumption:
125.4 billion kWh (2015 est.)
country comparison to the world: 30
Electricity - exports:
26.02 billion kWh (2016 est.)
country comparison to the world: 7
Electricity - imports:
14.29 billion kWh (2016 est.)
country comparison to the world: 17
Electricity - installed generating capacity:
39.67 million kW (2015 est.)
country comparison to the world: 26
Electricity - from fossil fuels:
6.3% of total installed capacity (2015 est.)
country comparison to the world: 204
Electricity - from nuclear fuels:
24.3% of total installed capacity (2015 est.)
country comparison to the world: 5
Electricity - from hydroelectric plants:
40.9% of total installed capacity (2015 est.)
country comparison to the world: 50
Electricity - from other renewable sources:
30% of total installed capacity (2015 est.)
country comparison to the world: 13
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 197
Crude oil - exports:
0 bbl/day (2016 est.)
country comparison to the world: 194
Crude oil - imports:
393,900 bbl/day (2016 est.)
country comparison to the world: 23
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 196
Refined petroleum products - production:
418,700 bbl/day (2016 est.)
country comparison to the world: 38
Refined petroleum products - consumption:
320,200 bbl/day (2016 est.)
country comparison to the world: 42
Refined petroleum products - exports:
336,300 bbl/day (2016 est.)
country comparison to the world: 25
Refined petroleum products - imports:
220,300 bbl/day (2016 est.)
country comparison to the world: 30
Natural gas - production:
0 cu m (2015 est.)
country comparison to the world: 199
Natural gas - consumption:
1.25 billion cu m (2015 est.)
country comparison to the world: 94
Natural gas - exports:
0 cu m (2015 est.)
country comparison to the world: 187
Natural gas - imports:
812 million cu m (2015 est.)
country comparison to the world: 63
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 197
Carbon dioxide emissions from consumption of energy:
62 million Mt (2015 est.)
country comparison to the world: 55

Communications

Telephones - fixed lines:
total subscriptions: 3,104,305
subscriptions per 100 inhabitants: 34 (July 2016 est.)
country comparison to the world: 50
Telephones - mobile cellular:
total: 12,543,188
subscriptions per 100 inhabitants: 126 (July 2016 est.)
country comparison to the world: 74
Telephone system:
general assessment: highly developed telecommunications infrastructure; ranked among leading countries for fixed-line, mobile-cellular, Internet, and broadband penetration
domestic: coaxial and multiconductor cables carry most of the voice traffic; parallel microwave radio relay systems carry some additional telephone channels
international: country code - 46; submarine cables provide links to other Nordic countries and Europe; satellite earth stations - 1 Intelsat (Atlantic Ocean), 1 Eutelsat, and 1 Inmarsat (Atlantic and Indian Ocean regions); note - Sweden shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Iceland, and Norway) (2016)
Broadcast media:
publicly owned TV broadcaster operates 2 terrestrial networks plus regional stations; multiple privately owned TV broadcasters operating nationally, regionally, and locally; about 50 local TV stations; widespread access to pan-Nordic and international broadcasters through multi-channel cable and satellite TV; publicly owned radio broadcaster operates 3 national stations and a network of 25 regional channels; roughly 100 privately owned local radio stations with some consolidating into near national networks; an estimated 900 community and neighborhood radio stations broadcast intermittently (2008)
Internet country code:
.se
Internet users:
total: 9,041,427
percent of population: 91.5% (July 2016 est.)
country comparison to the world: 50

Transportation

National air transport system:
number of registered air carriers: 8
inventory of registered aircraft operated by air carriers: 219
annual passenger traffic on registered air carriers: 11,623,930
annual freight traffic on registered air carriers: 0 mt-km (2015)
Civil aircraft registration country code prefix:
SE (2016)
Airports:
231 (2013)
country comparison to the world: 25
Airports - with paved runways:
total: 149
over 3,047 m: 3
2,438 to 3,047 m: 12
1,524 to 2,437 m: 75
914 to 1,523 m: 22
under 914 m: 37 (2013)
Airports - with unpaved runways:
total: 82
914 to 1,523 m: 5
under 914 m: 77 (2013)
Heliports:
2 (2013)
Pipelines:
gas 1,626 km (2013)
Railways:
total: 14,127 km
standard gauge: 14,062 km 1.435-m gauge (12,322 km electrified)
narrow gauge: 65 km 0.891-m gauge (65 km electrified) (2016)
country comparison to the world: 20
Roadways:
total: 573,134 km (includes 2,050 km of expressways)
paved: 140,100 km
unpaved: 433,034 km
note: includes 98,500 km of state roads, 433,034 km of private roads, and 41,600 km of municipal roads (2016)
country comparison to the world: 13
Waterways:
2,052 km (2010)
country comparison to the world: 40
Merchant marine:
total: 368
by type: general cargo 71, oil tanker 23, other 274 (2017)
country comparison to the world: 47
Ports and terminals:
major seaport(s): Brofjorden, Goteborg, Helsingborg, Karlshamn, Lulea, Malmo, Stockholm, Trelleborg, Visby
LNG terminal(s) (import): Brunnsviksholme, Lysekil

Military & Security

Military expenditures:
1.1% of GDP (2017)
1.04% of GDP (2016)
1.09% of GDP (2015)
1.14% of GDP (2014)
1.13% of GDP (2013)
country comparison to the world: 110
Military branches:
Swedish Armed Forces (Forsvarsmakten): Army (Armen), Royal Swedish Navy (Marinen), Swedish Air Force (Svenska Flygvapnet) (2018)
Military service age and obligation:
18-47 years of age for male and female voluntary military service; Swedish citizenship required; service obligation: 7.5 months (Army), 7-15 months (Navy), 8-12 months (Air Force); after completing initial service, soldiers have a reserve commitment until age 47; compulsory military service, abolished in 2010, was reinstated in 2018 (2018)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
refugees (country of origin): 96,914 (Syria); 25,968 (Eritrea); 21,693 (Iraq); 22,548 (Somalia); 16,558 (Afghanistan) (2016)
stateless persons: 36,036 (2016); note - the majority of stateless people are from the Middle East and Somalia

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