Sweden
Description of Sweden
Sweden, a Nordic nation known for its innovation, social welfare system, and high standard of living, stands as a shining example of economic stability and progress in Northern Europe. With a strong emphasis on sustainability, equality, and technological advancement, Sweden has carved a unique path in the global arena. From its commitment to renewable energy to its robust welfare policies, Sweden continues to be a leader in balancing economic growth with social welfare. Let's delve deeper into the macroeconomic factors driving Sweden's success and its position in the global landscape.
Population And Age Structure
In terms of Population, total, Sweden has a value of 10,353,442 which is significantly below the average of 40,097,746. Sweden ranks 88 out of 194 countries in this attribute.
When looking at Population ages 0-14 (% of total population), Sweden's value of 17.75% is below the average of 27.34%. The country ranks 145 out of 194 nations.
In terms of Population ages 0-14, total, Sweden's value of 1,837,227 is notably lower than the average of 10,327,379. Sweden ranks 103 out of 194 countries in this category.
Regarding Population ages 15-64 (% of total population), Sweden's percentage of 62.22% is slightly below the average of 63.44%. The country ranks 129 out of 194 nations.
In Population ages 15-64, total, Sweden's value of 6,442,152 is notably lower than the average of 26,003,407. Sweden ranks 90 out of 194 countries in this attribute.
When considering Population ages 65 and above (% of total population), Sweden's 20.03% is significantly above the average of 9.22%. Sweden ranks 19 out of 194 countries in this aspect.
Finally, in terms of Population ages 65 and above, total, Sweden's value of 2,074,063 is notably below the average of 3,766,959. Sweden ranks 48 out of 194 countries in this category.
Summary
Sweden's population distribution skews towards older age groups, with significantly lower numbers in the younger age brackets compared to the global average. This demographic trend suggests a potential challenge for Sweden's workforce sustainability and economic growth in the future, as a smaller younger population may result in a heavier burden on the working population to support the aging population in terms of social welfare and healthcare costs.
Population Miscellaneous
For the attribute "Rural population", Sweden has a value of 1,244,794, which is significantly below the average of 18,044,041. Sweden ranks 119 out of 190 countries in this category.
In terms of "Rural population (% of total population)", Sweden's value of 12.023% is well below the average of 41.16%. Sweden ranks 173 out of 190 countries in this regard.
Regarding "Urban population", Sweden has 9,108,648 people, notably below the average of 22,425,747. Sweden ranks 64 out of 194 countries for urban population.
Sweden's "Urban population (% of total population)" stands at 87.977%, higher than the average of 59.69%. In this aspect, Sweden ranks 22 out of 194 countries.
For the "Age dependency ratio (% of working-age population)", Sweden has a ratio of 60.71%, slightly above the average of 59.22%. The country ranks 66 out of 194 nations in this metric.
Sweden's "Birth rate, crude" is 10.9 births per 1,000 people, lower than the average of 19.38. The country ranks 142 out of 192 countries in terms of birth rate.
With a "Death rate, crude" of 9.5 deaths per 1,000 people, Sweden is above the average of 8.21. The country ranks 51 out of 192 countries for crude death rate.
Lastly, Sweden's "Fertility rate, total" is 1.67 births per woman, lower than the average of 2.60. Sweden ranks 130 out of 190 countries for fertility rate.
Summary
Sweden has a relatively small rural population compared to the global average and ranks low in both rural population size and percentage. Conversely, its urban population exceeds the global average, positioning Sweden higher in the urban population ranking. The country also has a slightly higher age dependency ratio than the average. Sweden's below-average birth rate, higher death rate, and lower fertility rate indicate demographic trends that could impact future labor force and economic growth. These indicators are crucial for policymakers to understand potential challenges related to population dynamics, workforce demographics, and social welfare needs in Sweden.
Military
Sweden's military expenditure in current USD is $6,271,285,838.40, which is below the average of $12,904,993,617.17, ranking 30 out of 149 countries.
The country spends 1.15% of its GDP on military, lower than the average of 1.90%. This places Sweden at rank 104 out of 148 countries.
Sweden's arms imports are relatively low at $3,000,000, significantly below the average of $205,522,123.89, ranking the country at 101 out of 113 countries.
On the other hand, Sweden's arms exports stand at $282,000,000, below the average of $705,705,882.35, giving Sweden a rank of 13 out of 34 countries.
The total number of armed forces personnel in Sweden is 15,000, less than the average of 165,908.54, placing the country at rank 118 out of 164 countries.
Sweden's percentage of armed forces personnel in the total labor force is 0.27%, far below the average of 1.28%. This ranks Sweden 148 out of 164 countries.
Summary
Sweden has a relatively low military expenditure, GDP percentage spent on military, arms imports, number of armed forces personnel, and percentage of armed forces personnel in the total labor force compared to global averages. These indicators suggest that Sweden prioritizes other areas of its economy over military expansion, potentially focusing more on diplomacy and neutrality. This strategic allocation of resources allows Sweden to invest in other key areas such as education, healthcare, and technology, contributing to its overall socio-economic development and stability.
Natural Resources
Sweden's forest area covers 279,800 sq. km, ranking 22nd out of 191 countries, with the area above the global average. The land area of Sweden is 407,283.532 sq. km, ranking 58th out of 194 countries, below the average. Its surface area of 528,860.704 sq. km is also below average, ranking 49th out of 194 countries.
Sweden has 2,538,550 hectares of arable land, ranking 73rd out of 190 countries, well below the average. The country's land under cereal production is 993,340 hectares, placing it 78th out of 174 countries, significantly below the average.
Regarding precipitation, Sweden receives an average of 624 mm per year, ranking 125th out of 178 countries, with precipitation levels below the average. Sweden's renewable internal freshwater resources total 171 billion cubic meters, ranking 39th out of 178 countries, below the average.
Summary
Sweden's land area and forest area are relatively large compared to other countries globally. However, its arable land and land under cereal production are below the average, indicating potential limitations in agriculture. Precipitation levels are also below average, which may impact agricultural productivity. Understanding these indicators is crucial for assessing Sweden's agricultural and environmental sustainability, as well as its potential for food production and natural resource management.
Resource Rents
- Total natural resources rents (% of GDP): In Sweden, the percentage stands at 0.37, which is significantly below the average of 4.63. This places Sweden at rank 126 out of 175 countries in the dataset.
- Forest rents (% of GDP): Sweden's forest rents account for 0.18% of GDP, below the average of 1.53%. This positions Sweden at rank 101 out of 174 countries considered.
- Oil rents (% of GDP): With oil rents at 0.01% of GDP, Sweden is notably under the average of 2.51. The country holds the 90th position out of 117 nations in this aspect.
- Mineral rents (% of GDP): Sweden's mineral rents are at 0.18% of GDP, lower than the average of 1.23. This places Sweden at rank 50 out of 86 countries with available data.
Summary
Sweden's macroeconomic indicators show that the country has relatively low reliance on natural resources compared to the global average. With below-average contributions from natural resources rents, including forest, oil, and minerals, Sweden ranks moderately in global comparisons. These indicators are important as they reflect Sweden's economic diversity and potential vulnerabilities to fluctuations in global commodity prices, highlighting the country's focus on other sectors for economic growth and sustainability.
Commodities
Sweden's cereal production is 5,954,500 metric tons, well below the average of 17,249,945.92 metric tons, ranking 48th out of 174 countries. Aquaculture production in Sweden is 12,090.3 metric tons, significantly lower than the average of 679,642.92 metric tons, placing Sweden 75th out of 180 countries. The country's capture fisheries production is 179,642.8 metric tons, below the average of 467,453.06 metric tons, ranking 62nd out of 190 countries. Sweden's total fisheries production is 191,733.1 metric tons, also lower than the average of 1,153,914.85 metric tons, placing it 64th out of 182 countries. In terms of fertilizer consumption, Sweden uses 116.97 kilograms per hectare of arable land, which is below the average of 159.04 kilograms, ranking 81st out of 187 countries.
Summary
Sweden's agricultural sector, as indicated by its cereal production, aquaculture, and fisheries production, falls below global averages, reflecting potential challenges in meeting domestic demand and exporting surplus. The country's lower-than-average fertilizer consumption per hectare of arable land further highlights potential limitations in enhancing crop yields and maintaining soil fertility, which could impact long-term agricultural sustainability and food security.
Intellectual Property
Sweden has a below-average number of Industrial design applications by nonresidents with a value of 10, ranking 101 out of 112 countries. In terms of Industrial design applications by residents, Sweden is also below average with a value of 287, ranking 50 out of 113 countries.
For Patent applications by nonresidents, Sweden is below the average with a value of 432 and a rank of 44 out of 129 countries. In the case of Patent applications by residents, Sweden's value of 1764 is below the average, ranking 21 out of 117 countries.
When it comes to Trademark applications by nonresidents, Sweden performs below average with 3992 applications, ranking 76 out of 130 countries. Similarly, for Trademark applications by residents, Sweden is below average with 15758 applications, ranking 40 out of 129 countries.
Sweden excels in the number of Scientific and technical journal articles with a value of 21880.49, above the average, and ranking 22 out of 192 countries.
Regarding Charges for the use of intellectual property, Sweden stands out in both payments and receipts with values of 9,280,974,509.05 and 8,376,832,865.96 respectively, both well above the average. Sweden ranks 13 out of 143 countries for payments and 11 out of 122 countries for receipts.
Sweden demonstrates a significant investment in research and development with 7759.50 researchers per million people, which is above the average and secures a rank of 2 out of 72 countries.
Summary
Sweden's performance in key macroeconomic indicators highlights its significant investment in research and development, as evidenced by the high number of researchers per million people and the above-average number of scientific and technical journal articles. Additionally, Sweden excels in intellectual property, with high charges for the use of intellectual property, both in payments and receipts.
These findings are important as they indicate Sweden's focus on innovation and knowledge creation, which are crucial drivers of economic growth and competitiveness in the global market. By investing in research and development and valuing intellectual property, Sweden aims to maintain its position as a leader in technology and innovation, attracting talent and fostering a thriving knowledge-based economy.
Broad Economy Attributes
- Sweden's GDP (current US$) is $547,054,174,235.88, which is above the average of $442,870,224,838.68.
Sweden ranks 22nd out of 189 countries in this attribute.
- Sweden's GDP, PPP (current international $) is $597,293,428,245.20, below the average of
$734,141,122,350.78. Sweden ranks 37th out of 181 countries.
- Sweden's GDP per capita (current US$) is $52,837.90, significantly above the average of $15,462.11.
Sweden ranks 12th out of 190 countries.
- Sweden's GDP per capita, PPP (current international $) is $57,690.32, higher than the average of
$21,251.89. Sweden ranks 15th out of 181 countries.
- Sweden's GNI (current US$) is $566,966,969,716.90, above the average of $452,040,815,370.70. Sweden
ranks 22nd out of 185 countries.
- Sweden's GNI, PPP (current international $) is $619,034,934,733.87, below the average of
$730,698,223,823.47. Sweden ranks 36th out of 181 countries.
- Sweden's GNI per capita, PPP (current international $) is $59,790, well above the average of $20,615.75.
Sweden ranks 11th out of 181 countries.
Summary
Sweden demonstrates a strong economic performance across various indicators such as GDP, GDP per capita, and GNI per capita, ranking consistently high compared to global averages. These high rankings signify Sweden's robust economy, high standard of living, and strong purchasing power parity, making it an attractive destination for investment and highlighting its potential for sustained economic growth and development.
Broad Value Added
- Gross value added at basic prices (GVA) in Sweden is $485,585,769,836.74, which is above the average of
$360,070,943,595.12. Sweden ranks 21 out of 176 countries in this attribute.
- Agriculture, forestry, and fishing, value added (% of GDP) in Sweden is 1.33%, below the average of
10.86%. Sweden ranks 161 out of 182 countries in this attribute.
- Agriculture, forestry, and fishing, value added in Sweden is $7,272,285,847.66, below the average of
$19,924,732,828.07. Sweden ranks 55 out of 182 countries in this attribute.
- Services, value added (% of GDP) in Sweden is 65.84%, above the average of 56.72%. Sweden ranks 42 out
of 183 countries in this attribute.
- Services, value added in Sweden is $360,200,726,138.81, above the average of $295,837,711,130.69. Sweden
ranks 22 out of 183 countries in this attribute.
- Industry (including construction), value added in Sweden is $118,112,757,850.27, below the average of
$118,421,095,413.50. Sweden ranks 30 out of 183 countries in this attribute.
Summary
Sweden demonstrates a strong services sector, ranking well above average in both services value added as a percentage of GDP and in absolute terms. However, the country lags behind in agriculture, forestry, and fishing sectors. This focus on services over agriculture may indicate a more developed and diversified economy, less reliant on traditional sectors for economic output.
Manufacturing Value Added
Manufacturing, value added (current US$): Sweden's value of $67,620,423,818.37 is below the average of $76,207,179,589.66. Sweden ranks 29th out of 173 countries in this attribute.
Manufacturing, value added (% of GDP): With a value of 12.36%, Sweden's manufacturing value added as a percentage of GDP is above the average of 11.90%. Sweden ranks 77th out of 173 countries in this attribute.
Medium and high-tech manufacturing value added (% manufacturing value added): Sweden excels in this area with a value of 50.31%, well above the average of 24.49%. Sweden ranks 13th out of 149 countries in this attribute.
Chemicals (% of value added in manufacturing): Sweden's value of 14.89% is above the average of 11.56%. Sweden ranks 20th out of 89 countries in this attribute.
Food, beverages and tobacco (% of value added in manufacturing): Sweden's value of 8.67% is below the average of 24.51%. Sweden ranks 84th out of 92 countries in this attribute.
Machinery and transport equipment (% of value added in manufacturing): Sweden's value of 33.87% is significantly above the average of 16.85%. Sweden ranks 11th out of 93 countries in this attribute.
Textiles and clothing (% of value added in manufacturing): Sweden's value of 0.58% is well below the average of 6.33%. Sweden ranks 89th out of 93 countries in this attribute.
Other manufacturing (% of value added in manufacturing): Sweden's value of 41.98% is just slightly below the average of 42.13%. Sweden ranks 46th out of 94 countries in this attribute.
Summary
Sweden's manufacturing sector showcases strengths in medium and high-tech manufacturing, chemicals, and machinery and transport equipment, where it ranks notably high compared to other countries. However, there are areas of weakness such as textiles, clothing, and food, beverages, and tobacco production, where Sweden ranks lower compared to the global average. These statistics are crucial as they highlight Sweden's competitive advantages and areas that may require further development to enhance its manufacturing sector's overall performance and competitiveness on the global stage.
Money
1. Inflation, consumer prices (annual %): Sweden's inflation rate is 0.50%, which is much lower than the average of 8.26%. This places Sweden at a rank of 123 out of 165 countries in the data set.
2. Inflation, GDP deflator (annual %): Sweden's GDP deflator inflation is 1.99%, below the average of 6.90%. This places Sweden at rank 93 out of 188 countries in the dataset.
3. Broad money growth (annual %): Sweden's broad money growth is at 18.13%, slightly above the average of 18.03%. This places Sweden at rank 35 out of 139 countries.
4. Broad money (% of GDP): Sweden's broad money as a percentage of GDP is 87.72%, higher than the average of 71.75%. This places Sweden at rank 43 out of 139 countries.
5. Broad money to total reserves ratio: Sweden's ratio is 8.24, above the average of 5.17. This places Sweden at rank 12 out of 126 countries included in the data.
Summary
Sweden demonstrates stable and controlled inflation rates, with both consumer prices and GDP deflator inflation below global averages. The country's strong performance in broad money indicators, such as growth, percentage of GDP, and the ratio to total reserves, highlights a robust financial system and liquidity position. These indicators are crucial as they reflect Sweden's economic stability, monetary policy effectiveness, and potential resilience to financial shocks.
Consumption Expenditure
Final consumption expenditure (current US$): Sweden's final consumption expenditure is $385,233,002,394.53, slightly above the average of $381,630,252,515.38. Sweden ranks 23 out of 159 countries in this attribute.
Final consumption expenditure (% of GDP): With a value of 70.42%, Sweden's final consumption expenditure as a percentage of GDP is below the average of 82.37%. Sweden ranks 130 out of 159 countries in this attribute.
General government final consumption expenditure (current US$): Sweden's expenditure is $144,634,017,804.33, significantly higher than the average of $93,676,578,238.03. Sweden ranks 17 out of 158 countries in this attribute.
General government final consumption expenditure (% of GDP): At 26.44%, Sweden's expenditure as a percentage of GDP is above the average of 18.71%. Sweden ranks 15 out of 158 countries in this attribute.
Household and NPISHs Final consumption expenditure (current US$): Sweden's expenditure is $240,598,984,590.20, below the average of $290,127,571,157.69. Sweden ranks 29 out of 158 countries in this attribute.
Households and NPISHs final consumption expenditure (% of GDP): With a value of 43.98%, Sweden's expenditure as a percentage of GDP is lower than the average of 63.68%. Sweden ranks 142 out of 158 countries in this attribute.
Summary
Sweden's final consumption expenditure in absolute terms is slightly above the global average, ranking 23rd out of 159 countries. However, when looking at the percentage of final consumption expenditure as a share of GDP, Sweden falls below the global average, ranking 130th. The discrepancy between these rankings highlights that while Sweden has high absolute expenditure levels, its economy may not be as consumption-driven as other countries with higher percentages of GDP allocated to final consumption expenditure.
These statistics are crucial as they provide insight into the spending behaviors of different sectors in the economy. A higher final consumption expenditure indicates stronger domestic demand and economic activity, which can be positive for economic growth. However, the proportion of this expenditure relative to GDP sheds light on the efficiency of resource allocation and the sustainability of consumption patterns. In Sweden's case, the lower percentage of final consumption expenditure as a share of GDP may suggest a more conservative or efficient use of resources compared to countries with higher percentages.
Equities
In S&P Global Equity Indices (annual % change), Sweden had a growth rate of 31.47%, significantly higher than the average growth rate of 2.06% among 79 countries. This performance ranked Sweden 4th out of the 79 countries included in the data.
Summary
Sweden's S&P Global Equity Indices experienced an impressive growth rate of 31.47%, far surpassing the average growth rate of 2.06% among 79 countries surveyed. This exceptional performance positioned Sweden as the 4th highest performing country among those included in the analysis.
These findings are crucial as they highlight Sweden's robust and thriving equity market, showcasing the country's strong economic fundamentals, investor confidence, and potential for financial growth and stability. Such stellar performance can attract more investment opportunities, stimulate economic development, and enhance Sweden's overall competitiveness on the global stage.
Investment
Sweden's foreign direct investment, net (BoP, current US$) stands at $3.73 billion, ranking 17th out of 169 countries with data available. This value is significantly above the attribute average of -$1.62 billion.
In terms of foreign direct investment, net inflows (BoP, current US$), Sweden recorded $18.77 billion, ranking 19th out of 182 countries. This figure is well above the attribute average of $5.75 billion.
Sweden's foreign direct investment, net inflows (% of GDP) is 3.43%, placing it at the 55th rank out of 178 countries. This percentage surpasses the attribute average of 2.61%.
For foreign direct investment, net outflows (BoP, current US$), Sweden's value of $22.50 billion positions it at 12th out of 156 countries. This amount is much higher than the attribute average of $5.71 billion.
Regarding foreign direct investment, net outflows (% of GDP), Sweden's 4.11% places it at 9th out of 155 countries, significantly exceeding the attribute average of 1.00%.
Sweden has a negative value for Portfolio Investment, net (BoP, current US$) at approximately -$7.94 billion, ranking 150th out of 159 countries. This value is substantially lower than the attribute average of $679.56 million.
Sweden's Portfolio equity, net inflows (BoP, current US$) of $7.37 billion places it at the 11th rank out of 125 countries. This value is below the attribute average of $9.20 billion.
Summary
Sweden ranks relatively high in terms of foreign direct investment inflows and outflows, indicating a strong position in attracting and deploying foreign capital. However, the country has a notably low portfolio investment, with a negative net value, signaling potential challenges in this area. These indicators are crucial as they reflect Sweden's ability to attract long-term investment (FDI) and the need to possibly revamp its portfolio investment strategy for better economic growth and stability.
Broad Trade Attributes
For Trade (% of GDP), Sweden's value of 83.21% is slightly above the average of 82.34%. Sweden ranks 55th
out of 163 countries in this attribute.
For Merchandise trade (% of GDP), Sweden's value of 55.84% is below the average of 60.01%. Sweden is
ranked 82nd out of 186 countries in this attribute.
In Trade in services (% of GDP), Sweden's value of 25.39% is above the average of 24.63%. Sweden holds
45th place out of 171 countries in this attribute.
Regarding External balance on goods and services (current US$), Sweden's value of 24.53 billion USD is
significantly above the average of 3.41 billion USD. Sweden ranks 15th out of 163 countries in this
attribute.
Lastly, for External balance on goods and services (% of GDP), Sweden's value of 4.48% is notably above
the average of -5.97%. Sweden holds the 26th position out of 163 countries in this attribute.
Summary
Sweden performs well in key macroeconomic indicators related to trade, with Trade (% of GDP), Merchandise trade (% of GDP), and Trade in services (% of GDP) all above average values and ranking within the top 55 countries globally. The country also shows a strong External balance on goods and services, with values significantly higher than the average both in current US dollars and as a percentage of GDP.
These indicators are crucial as they reflect Sweden's strong integration into the global economy, with high levels of trade contributing significantly to the country's GDP. The positive External balance on goods and services indicates Sweden's ability to export more than it imports, which can boost economic growth, create employment opportunities, and strengthen the country's overall economic stability.
Net Trade
Sweden's current account balance of $32,355,070,904.65 is significantly higher than the average of $1,443,864,831.49, ranking 10th out of 170 countries in the dataset.
The current account balance as a percentage of GDP for Sweden is 5.91%, well above the average of -2.36%, placing Sweden 20th out of 170 countries.
Sweden's net trade in goods and services stands at $24,774,748,643.85, much higher than the average of $2,604,730,003.57, ranking 14th out of 171 countries.
With a net primary income of $19,073,240,705.25, Sweden outperforms the average of -$903,807,529.74 and ranks 7th out of 170 countries.
Sweden's net secondary income is notably lower at -$11,492,379,632.24 compared to the average of -$269,227,340.40, placing Sweden 158th out of 170 countries.
The country's net trade in goods amounts to $21,663,262,826.84, significantly surpassing the average of $1,302,831,005.68, ranking Sweden 20th out of 171 countries.
In terms of net capital account, Sweden recorded $294,933,756.21, above the average of $136,543,824.05, placing Sweden 37th out of 159 countries.
Sweden's net financial account stands at -$16,515,920,401.21, contrasted with the average of -$469,840,994.63, ranking 161st out of 170 countries.
Summary
Sweden demonstrates strong economic performance in various areas such as current account balance, net trade in goods and services, and net primary income, ranking well above the global average in each category. However, the country struggles with a negative net secondary income and net financial account, indicating room for improvement in these areas to maintain overall economic stability and sustainability.
These statistics are crucial as they provide insights into Sweden's economic competitiveness, global trade relations, and financial stability. By analyzing these indicators, policymakers can identify areas of strength and weakness, guiding strategic decisions to enhance the country's economic standing and address potential vulnerabilities.
Broad Export Attributes
Analysis of key economic attributes for Sweden:
- Exports of goods, services and primary income: Sweden's value of $296.84 billion is above the average of
$146.24 billion, ranking 22nd out of 170 countries.
- Exports of goods and services: Sweden's value of $241.94 billion exceeds the average of $122.94 billion,
ranking 23rd out of 170 countries.
- Exports of goods and services: Sweden's value of $239.87 billion is higher than the average of $129.60
billion, ranking 25th out of 163 countries.
- Exports of goods and services (% of GDP): Sweden's value of 43.85% is above the average of 38.19%,
ranking 43rd out of 163 countries.
- Goods exports: Sweden's value of $170.93 billion is above the average of $93.31 billion, ranking 26th
out of 171 countries.
- ICT goods exports (% of total goods exports): Sweden's value of 6.58% is above the average of 3.81%,
ranking 23rd out of 142 countries.
Summary
Sweden demonstrates a strong export performance across various categories, with values consistently exceeding global averages and securing competitive rankings internationally. The high percentage of exports relative to GDP reflects the significance of trade to Sweden's economy, showcasing its robust global market presence and economic integration.
Merchandise Exports
1. Merchandise exports (current US$): Sweden's merchandise exports amount to $155.5 billion, which is above the average of $89.5 billion. Sweden ranks 31st out of 187 countries in this attribute.
2. Agricultural raw materials exports (% of merchandise exports): Sweden's agricultural raw materials exports account for 4.05% of its total merchandise exports, surpassing the average of 2.97%. Sweden is ranked 32nd out of 151 countries in this category.
3. Food exports (% of merchandise exports): Sweden's food exports constitute 6.78% of its total merchandise exports, below the average of 24.06%. The country is ranked 120th out of 152 countries for this attribute.
4. Fuel exports (% of merchandise exports): Sweden's fuel exports represent 4.54% of its total merchandise exports, falling short of the average of 13.70%. Sweden holds the 66th position out of 147 countries in this aspect.
5. Ores and metals exports (% of merchandise exports): Sweden's ores and metals exports make up 4.99% of its total merchandise exports, lower than the average of 9.10%. The country is ranked 58th out of 152 countries in this category.
6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Sweden's residual merchandise exports account for 0.55% of its total merchandise exports, which is below the average of 3.20%. Sweden holds the 71st position out of 166 countries in this attribute.
Summary
Sweden's key macroeconomic indicators show a strong performance in merchandise exports, with the country ranking above average in various categories such as agricultural raw materials exports and ores/metals exports. However, Sweden lags behind in food exports and fuel exports compared to the global average. These indicators are crucial as they reflect Sweden's economic specialization, competitiveness, and potential vulnerabilities in the global market.
Technology Exports
Sweden's manufactures exports account for 75.61% of its merchandise exports, surpassing the average of 42.62%. This places Sweden at rank 31 out of 152 countries in the dataset.
In terms of high-technology exports in current US dollars, Sweden has a value of $17,724,963,070. This is above the average of $16,655,934,078.80. Sweden is ranked 24 out of 151 countries.
Sweden's high-technology exports as a percentage of manufactured exports stand at 15.13%, higher than the average of 10.15%. This places Sweden at rank 35 out of 150 countries.
For medium and high-tech exports as a percentage of manufactured exports, Sweden's value is 61.38%, well above the average of 34.29%. This places Sweden at rank 27 out of 149 countries.
Summary
Sweden demonstrates a strong position in the global market with its high share of manufactures exports, high-technology exports in current US dollars, higher-than-average high-technology exports as a percentage of manufactured exports, and medium and high-tech exports as a percentage of manufactured exports. These indicators signify Sweden's strong capabilities in exporting high-value and technology-intensive goods, showcasing its economic competitiveness and innovation-driven economy.
Service Exports
Sweden's service exports amount to $71,005,041,959.15, which is significantly higher than the average of $28,917,292,503.82, ranking 19th out of 171 countries in the dataset.
When it comes to ICT service exports, Sweden performs exceptionally well, with $15,550,472,873.44, surpassing the average of $4,578,501,153.77, placing 11th out of 166 countries.
Sweden's ICT service exports as a percentage of total service exports stand at 21.90%, notably above the average of 11.75%, ranking 24th out of 166 countries in the dataset.
Within communications, computer, etc., services as a percentage of total service exports, Sweden's value of 73.40% is significantly higher than the average of 45.85%, ranking 22nd out of 169 countries.
In terms of transport services as a percentage of service exports, Sweden's value of 10.95% is below the average of 21.80%, placing 113th out of 169 countries.
Sweden's travel services as a percentage of total service exports are at 6.12%, notably lower than the average of 26.40%, ranking 136th out of 167 countries.
For insurance and financial services as a percentage of service exports, Sweden's value of 6.53% is slightly above the average of 6.46%, placing 51st out of 161 countries.
Summary
Sweden stands out in the global market for its strong performance in service exports, particularly in the ICT sector and communications services. However, there is room for improvement in the areas of transport services, travel services, and insurance/financial services. These indicators are crucial for assessing Sweden's economic competitiveness and its ability to leverage different sectors for international trade and economic growth.
Commercial Service Exports
• Commercial service exports (current US$): Sweden has a commercial service export value of $70,409,784,139.42, which is significantly above the average of $28,508,218,402.80. Sweden ranks 19th out of 171 countries in this category.
• Travel services (% of commercial service exports): Sweden's travel services account for 6.17% of its commercial service exports, well below the average of 27.89%. Sweden is ranked 138th out of 167 countries in this metric.
• Computer, communications and other services (% of commercial service exports): Sweden excels with 76.19% in this category, far surpassing the average of 42.44%. The country ranks 12th out of 169 countries.
• Insurance and financial services (% of commercial service exports): Sweden's insurance and financial services contribute 6.59% to its commercial service exports, slightly below the average of 6.97%. Sweden holds the 54th rank out of 161 countries.
• Transport services (% of commercial service exports): Sweden's transport services represent 11.04% of its commercial service exports, well below the average of 23.37%. Sweden is ranked 114th out of 169 countries in this aspect.
Summary
Sweden stands out in commercial service exports with a high overall value, driven primarily by computer, communications, and other services. However, the country lags in travel and transport services compared to the global average. Understanding these metrics is vital as it showcases Sweden's strengths in key sectors like technology while also highlighting areas that may benefit from further development to enhance its overall competitiveness in the global market.
Broad Import Attributes
Imports of goods and services (current US$): Sweden's value of $215.34 billion is above the attribute average of $126.19 billion, ranking 26th out of 163 countries.
Imports of goods and services (% of GDP): Sweden's value of 39.36% is below the attribute average of 44.15%, ranking 74th out of 163 countries.
ICT goods imports (% total goods imports): Sweden's value of 10.13% is above the attribute average of 6.85%, ranking 24th out of 143 countries.
Goods imports (BoP, current US$): Sweden's value of $149.27 billion is above the attribute average of $92.01 billion, ranking 26th out of 171 countries.
Imports of goods and services (BoP, current US$): Sweden's value of $217.17 billion is above the attribute average of $120.32 billion, ranking 25th out of 170 countries.
Imports of goods, services and primary income (BoP, current US$): Sweden's value of $252.99 billion is above the attribute average of $144.51 billion, ranking 25th out of 170 countries.
Summary
Sweden consistently demonstrates a strong import performance across various indicators, with values well above the attribute averages and consistently ranking in the top 26 out of a large pool of countries. This signifies Sweden's robust trade dynamics, indicating a significant reliance on imports to fuel its economy and meet domestic demand.
Merchandise Imports
Analysis of key trade statistics for Sweden:
1. Merchandise imports (current US$): Sweden's merchandise imports amount to $149.98 billion, surpassing the average of $89.39 billion. Sweden ranks 28th out of 190 countries in terms of the value of merchandise imports.
2. Manufactures imports (% of merchandise imports): Sweden's manufactures imports account for 72.27% of its total merchandise imports, higher than the average of 66.76%. Sweden ranks 47th out of 152 countries in this aspect.
3. Agricultural raw materials imports (% of merchandise imports): Sweden's imports of agricultural raw materials represent 1.18% of its total merchandise imports, slightly below the average of 1.27%. Sweden ranks 69th out of 152 countries for this metric.
4. Food imports (% of merchandise imports): Food imports constitute 11.28% of Sweden's merchandise imports, lower than the average of 15.89%. Sweden ranks 107th out of 152 countries in this category.
5. Fuel imports (% of merchandise imports): Fuel imports make up 7.79% of Sweden's merchandise imports, below the average of 11.38%. Sweden is ranked 106th out of 152 countries for fuel imports.
6. Ores and metals imports (% of merchandise imports): Sweden's imports of ores and metals account for 2.63% of its total merchandise imports, slightly above the average of 2.57%. Sweden ranks 51st out of 152 countries in this aspect.
7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Residual imports for Sweden represent 0.07% of its total merchandise imports, significantly lower than the average of 2.51%. Sweden ranks 134th out of 180 countries for this measure.
Summary
Sweden's key trade statistics reveal a dynamic import profile, with a notable emphasis on manufactures and relatively lower dependence on food and fuel imports compared to the global average. The country's high ranking in merchandise imports value and its specialization in manufactures imports showcase its strong industrial base and trade competitiveness. These statistics are crucial as they highlight Sweden's trade composition, resilience to global commodity price fluctuations, and strategic positioning in the international market.
Service Imports
1. Service imports (BoP, current US$): Sweden's service imports amount to $67,893,672,272.17, ranking 18th out of 171 countries. This value is significantly above the attribute average of $27,615,356,170.47.
2. Communications, computer, etc. (% of service imports, BoP): Sweden's percentage of service imports allocated to communications, computer, etc. is 75.21%, ranking 7th out of 169 countries. This value is notably higher than the attribute average of 44.40%.
3. Transport services (% of service imports, BoP): Sweden's allocation of service imports to transport services is 12.83%, ranking 161st out of 169 countries. This proportion is below the attribute average of 32.90%.
4. Travel services (% of service imports, BoP): Sweden's share of service imports dedicated to travel services is 9.05%, positioning it at 100th out of 169 countries. This percentage falls below the attribute average of 14.14%.
5. Insurance and financial services (% of service imports, BoP): Sweden's allocation of service imports to insurance and financial services stands at 3.75%, ranking 128th out of 169 countries. This figure is lower than the attribute average of 8.53%.
Summary
Sweden's service imports are notably high, with a significant portion allocated to communications, computer, etc. This indicates a strong reliance on these sectors for foreign services. However, the relatively low allocation towards transport, travel, insurance, and financial services suggests potential areas for diversification and improvement to ensure a more balanced and resilient economy.
Commercial Service Imports
For Commercial service imports (current US$), Sweden's value of $67,645,619,873.95 is significantly higher than the average of $27,102,746,128.60, ranking 18th out of 171 countries.
In terms of Computer, communications, and other services (% of commercial service imports), Sweden's value of 74.28% is well above the average of 41.71%, placing it at the 7th rank out of 169 countries.
Sweden's Insurance and financial services (% of commercial service imports) value of 3.76% is below the average of 8.85%, ranking 129th out of 169 countries.
Regarding Transport services (% of commercial service imports), Sweden's value of 12.88% is below the average of 34.71%, placing it at the 161st rank out of 169 countries.
For Travel services (% of commercial service imports), Sweden's value of 9.08% is below the average of 14.73%, ranking 105th out of 169 countries.
Summary
Sweden stands out with a high value for Commercial service imports, ranking 18th globally, driven by a significant percentage dedicated to Computer, communications, and other services. However, its lower allocation to Insurance and financial services and Transport services, coupled with average expenditure on Travel services, indicate potential areas for diversification and optimization to enhance economic growth and competitiveness.
These findings are crucial for policymakers and business leaders in Sweden to identify strengths and weaknesses in the country's service sector composition. Addressing the underperforming sectors while maintaining the lead in high-performing areas can help optimize resource allocation, attract foreign investment, and foster sustainable economic development.
Infrastructure
Sweden has 8,129 million passenger-km of railways, ranking 18 out of 64 countries. This value is below the attribute average of 32,281.92 million passenger-km.
In terms of railways for transporting goods, Sweden transports 22,093.90 million ton-km, ranking 15 out of 62 countries. However, this value is significantly below the attribute average of 119,231.19 million ton-km.
For air transport of freight, Sweden moves 304.42 million ton-km, ranking 38 out of 126 countries. This value is well below the attribute average of 1,384.37 million ton-km.
Sweden has 168,010.19 registered carrier departures worldwide, ranking 22 out of 149 countries. This figure is above the attribute average for this metric.
With 14,105,839.80 passengers carried by air transport, Sweden ranks 25 out of 149 countries, surpassing the attribute average of 11,848,242.70 passengers.
Regarding container port traffic, Sweden handles 1,612,953 TEUs, ranking 49 out of 110 countries. This amount is notably below the attribute average of 6,907,110.27 TEUs.
Sweden's total rail route length is 9,711 km, ranking 17 out of 66 countries. This value is below the attribute average of 12,204.74 km.
Summary
Sweden performs moderately in terms of transportation indicators, with lower-than-average figures in railways for passenger and freight transport, air transport of freight, and container port traffic. However, it excels in registered carrier departures and passengers carried by air transport. These indicators are crucial for assessing Sweden's connectivity, trade efficiency, and tourism industry competitiveness on a global scale.
Information Technology Infrastructure
Sweden has 338,969 secure internet servers, which is below the attribute average of 458,294. Sweden ranks 27th out of 193 countries in this indicator.
With 32,739.74 secure internet servers per 1 million people, Sweden surpasses the attribute average of 14,067.17. The country ranks 28th out of 193 countries in this metric.
94.54% of Sweden's population uses the internet, exceeding the attribute average of 64.77%. Sweden ranks 16th out of 180 countries in this category.
Sweden has 4,179,574 fixed broadband subscriptions, below the attribute average of 6,591,956. Sweden ranks 35th out of 185 countries in this aspect.
With 12,791,840 mobile cellular subscriptions, Sweden falls short of the attribute average of 42,526,463. Sweden ranks 74th out of 193 countries in mobile cellular subscriptions.
Summary
In summary, Sweden performs above average in terms of secure internet servers per million people and internet usage rate, but falls below average in the number of fixed broadband subscriptions and mobile cellular subscriptions. These indicators are crucial as they reflect Sweden's level of technological advancement, connectivity, and access to communication networks compared to other countries globally.
Energy Consumption
Sweden's renewable energy consumption stands at 58.4% of total final energy consumption, which is notably higher than the global average of 32.18%. This places Sweden at rank 42 out of 191 countries in the dataset for this attribute.
On the other hand, Sweden's CO2 emissions are 33,576.1 kt, considerably lower than the average of 171,895.94 kt. This positions Sweden at rank 68 out of 188 countries in the dataset for CO2 emissions.
Summary
Sweden's strong performance in renewable energy consumption, ranking 42 out of 191 countries, showcases its commitment towards sustainable energy practices. Additionally, its low CO2 emissions, ranking 68 out of 188 countries, reflect Sweden's effective measures in combating climate change. These indicators indicate Sweden's proactive stance in addressing environmental concerns, which not only contributes to global efforts in reducing carbon emissions but also enhances its reputation as a leader in sustainability.
Government Balance Sheet
Analysis of Key Macroeconomic Statistics for Sweden:
- Central government debt, total (% of GDP): Sweden's central government debt as a percentage of GDP is 43.99%, which is below the average of 74.12%. Sweden ranks 46th out of 61 countries in this metric.
- Net incurrence of liabilities, total (% of GDP): With a value of 4.96%, Sweden's net incurrence of liabilities as a percentage of GDP is lower than the average of 7.43%. Sweden ranks 61st out of 92 countries.
- Reserves and related items (BoP, current US$): Sweden's reserves are at -585,190,207.35 USD, significantly below the average of 1,924,407,186.58 USD. This places Sweden at rank 135 out of 171 countries.
- Total reserves minus gold (current US$): Sweden's total reserves excluding gold stand at 50,616,518,459.20 USD, which falls below the average of 74,221,588,171.61 USD. Sweden ranks 32nd out of 161 countries in this aspect.
- Total reserves (includes gold, current US$): Sweden's total reserves, including gold, amount to 58,260,344,659.20 USD, lower than the average of 85,708,019,773.47 USD. Sweden ranks 34th out of 161 countries in this metric.
- Total reserves in months of imports: At 2.76 months, Sweden's total reserves in months of imports are below the average of 7.10 months. Sweden holds the 119th position out of 151 countries.
Summary
Sweden holds a lower central government debt relative to its GDP compared to the global average, placing 46th out of 61 countries. However, its reserves, both in total and excluding gold, fall below the worldwide average, ranking 32nd and 34th respectively. These statistics are crucial as they highlight Sweden's fiscal stability and ability to handle economic shocks, although there may be room for improvement in terms of reserve levels to bolster its economic resilience.
Government Revenue
Sweden's revenue, excluding grants, stands at 32.16% of GDP, which is higher than the average of 27.02%. This places Sweden at rank 35 out of 122 countries in the dataset. Grants and other revenue account for 8.01% of Sweden's total revenue, significantly below the average of 23.54%, securing a rank of 93 out of 108 countries.
When it comes to social contributions, Sweden contributes 9.61% of its revenue, lower than the average of 22.29%. This places Sweden at rank 60 out of 81 countries. Taxes on goods and services constitute 38.16% of Sweden's revenue, higher than the average of 31.82%, earning Sweden a rank of 39 out of 122 countries.
Sweden relies heavily on other taxes, which make up 29.19% of its revenue, a significant difference from the average of 2.12%. This places Sweden at the top rank out of 106 countries in the dataset. In terms of taxes on income, profits, and capital gains, Sweden's 15.02% falls below the average of 24.66%, resulting in a rank of 95 out of 119 countries.
Summary
Sweden's revenue composition deviates significantly from global averages in several key areas. With higher revenue excluding grants and a heavier reliance on taxes on goods and services and other taxes, Sweden's fiscal policies support a robust welfare system. However, lower contributions from grants and social contributions indicate potential challenges in maintaining social welfare programs sustainably in the long term.
Taxes
Sweden's tax revenue accounts for 26.73% of its GDP, which is above the average of 16.72%. The country ranks 7 out of 123 countries in this attribute.
When it comes to taxes on income, profits, and capital gains, Sweden's percentage is 18.23%, below the average of 38.40%. This places Sweden at rank 110 out of 120 countries.
Sweden's applied weighted mean tariff rate for all products is 1.48%, lower than the average of 5.21%. This puts Sweden at rank 137 out of 153 countries in this category.
Summary
In summary, Sweden demonstrates a high tax revenue as a percentage of its GDP, outperforming the global average. However, its taxes on income, profits, and capital gains are comparatively lower, placing Sweden at a lower rank. Additionally, Sweden maintains a low applied weighted mean tariff rate for all products, indicating a strong openness to trade.
These findings are crucial as they reveal Sweden's ability to generate revenue efficiently through taxes, its competitive position in the global tax landscape, and its commitment to promoting international trade and economic integration.
Government Expenses
Expense (% of GDP): Sweden's expense as a percentage of GDP is 34.78%, which is above the attribute average of 31.69%. Sweden ranks 46 out of 123 countries in this aspect.
Compensation of employees (% of expense): Sweden's employee compensation as a percentage of expense is 8.97%, below the attribute average of 24.70%. Sweden ranks 113 out of 123 countries.
Goods and services expense (% of expense): Sweden's goods and services expense as a percentage of total expense is 4.52%, below the attribute average of 14.77%. Sweden ranks 115 out of 122 countries.
Interest payments (% of expense): Sweden's interest payments as a percentage of total expense is 0.70%, below the attribute average of 6.85%. Sweden ranks 111 out of 121 countries.
Other expense (% of expense): Sweden's other expenses as a percentage of total expense is 12.05%, above the attribute average of 8.29%. Sweden ranks 28 out of 120 countries.
Subsidies and other transfers (% of expense): Sweden's subsidies and other transfers as a percentage of total expense is 73.77%, significantly above the attribute average of 43.29%. Sweden ranks 12 out of 121 countries.
Summary
Sweden's macroeconomic indicators show a distinctive pattern. While the country's total expense as a percentage of GDP is relatively high, its allocation towards employee compensation, goods and services expense, and interest payments is notably below average. This indicates a prioritization towards other expense categories such as subsidies and transfers, reflecting a particular focus on social welfare and support programs within Sweden's economic structure.
These findings are important as they highlight Sweden's deliberate policy choices in allocating its expenses, portraying a strong commitment to social welfare and government support for its citizens. Understanding these allocations can provide insights into Sweden's economic priorities, societal values, and overall governance approach.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Population ages 65 and above (% of total population) | 19/194 |
| Charges for the use of intellectual property, payments (BoP, current US$) | 13/143 |
| Charges for the use of intellectual property, receipts (BoP, current US$) | 11/122 |
| Researchers in R&D (per million people) | 2/72 |
| GDP per capita (current US$) | 12/190 |
| GDP per capita, PPP (current international $) | 15/181 |
| GNI per capita, PPP (current international $) | 11/181 |
| Medium and high-tech manufacturing value added (% manufacturing value added) | 13/149 |
| Broad money to total reserves ratio | 12/126 |
| General government final consumption expenditure (% of GDP) | 15/158 |
| S&P Global Equity Indices (annual % change) | 4/79 |
| Foreign direct investment, net outflows (BoP, current US$) | 12/156 |
| Foreign direct investment, net outflows (% of GDP) | 9/155 |
| Portfolio equity, net inflows (BoP, current US$) | 11/125 |
| External balance on goods and services (current US$) | 15/163 |
| Current account balance (BoP, current US$) | 10/170 |
| Net trade in goods and services (BoP, current US$) | 14/171 |
| Net primary income (BoP, current US$) | 7/170 |
| ICT service exports (BoP, current US$) | 11/166 |
| Computer, communications and other services (% of commercial service exports) | 12/169 |
| Communications, computer, etc. (% of service imports, BoP) | 7/169 |
| Computer, communications and other services (% of commercial service imports) | 7/169 |
| Individuals using the Internet (% of population) | 16/180 |
| Other taxes (% of revenue) | 1/106 |
| Tax revenue (% of GDP) | 7/123 |
| Subsidies and other transfers (% of expense) | 12/121 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Rural population (% of total population) | 173/190 |
| Armed forces personnel (% of total labor force) | 148/164 |
| Industrial design applications, nonresident, by count | 101/112 |
| Food, beverages and tobacco (% of value added in manufacturing) | 84/92 |
| Textiles and clothing (% of value added in manufacturing) | 89/93 |
| Portfolio Investment, net (BoP, current US$) | 150/159 |
| Net secondary income (BoP, current US$) | 158/170 |
| Net financial account (BoP, current US$) | 161/170 |
| Transport services (% of service imports, BoP) | 161/169 |
| Transport services (% of commercial service imports) | 161/169 |
| Taxes on income, profits and capital gains (% of total taxes) | 110/120 |
| Compensation of employees (% of expense) | 113/123 |
| Goods and services expense (% of expense) | 115/122 |
| Interest payments (% of expense) | 111/121 |