GDP

GDP of Sweden in 2023 - Expenditure Approach, Sector Output, and Regional GDP

Last Updated: October 31, 2023
swe

GDP Summary

“Sweden with a population of had a total GDP value of US dollars (calculated in current US dollars) for the whole of 2022. The GDP per capita is 56188, and the growth rate in 2022 is 2.8%.”

Population

10.279 million

Land Size

407310 km²

GDP

591.19 billion

GDP Per Capita

56188 USD

Real GDP Growth
Note: Real GDP Growth (%) | Forecast after 2023
GDP Per Capital (Nominal)
Note: Current USD | Forecast after 2023
GDP Per Capita (PPP)
Note: PPP | Forecast after 2023

GDP Structure (Expenditure Approach)

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption
43.7%
Government Expneidutre
24.9%
Capital Formation
27.1%
Export
52.7%
Import
49.7%
GDP Growth(By Type)
Note: Real GDP Growth (%) | Forecast after 2023

GDP Structure By Sector

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Agriculture
2.1%
Industry
33.7%
Manufacturing
18.9%
Service
64.2%
Economic Growth(By Sector)
Note: Real GDP Growth (%) | Forecast after 2023

Economic Development

Most estimates for real GDP growth in Sweden for 2022 is 2.4-2.9%, lower than the previous estimates that stand between 3.1% to 3.5% due to a decline in consumption and investment, resulting in two small contractions in the fourth quarter of 2022 and the first quarter of 2023. Sweden’s export-oriented economy, with about 50% of exports going to other EU countries, including 11% to Germany, will be affected if those countries go into recession. We expect real GDP growth in Sweden to go into negative in 2023 due to uncertainty about both domestic and external demand, higher borrowing costs, and the energy crisis. The war is also negatively impacting Sweden’s economy through the trade and inflation channels, with consumer price growth surpassing wage growth in 2022, reducing consumers’ purchasing power and spending. Other risks include a faster than expected rise in intere...

Unemployment

7.5 %

Inflation

8.1 %

Urbanization

87.7 %

TFR

1.7 人

Unemployment Rate
Unit: %
Inflation Rate
Unit: %

GDP By Regions

Top 5 Regions By Population & Their GDP | Note: USD, current prices, current PPP

Sweden

581280 million USD

Stockholm

186233 million USD

West Sweden

110267 million USD

East Middle Sweden

82897.7 million USD

South Sweden

75554.4 million USD

Småland with Islands

41419.5 million USD

Historical Real GDP Growth Rate
Note: No data for 2019 and 2020 in some regions, denoted with 0%. | Source; Local Statistics Bureau | Unit: %

GDP Growth By GDP

Top 5 Regions By Population & Their GDP Growth in 2020

Sweden

-2.17 %

Stockholm

-1.72 %

West Sweden

-3.85 %

East Middle Sweden

-1.31 %

South Sweden

-0.46 %

Småland with Islands

-1.89 %

Historical Real GDP Growth By Regions
Note: No data for 2019 and 2020 in some regions, denoted with 0%. | Source; Local Statistics Bureau | Unit: %

GDP Per Capita By Regions

Top 5 Regions By Population & Their GDP Per Capita in 2020 (Measured in PPP, current prices) | Unit: USD

Sweden

56144 USD

Stockholm

78100 USD

West Sweden

53386 USD

East Middle Sweden

47847

South Sweden

48969 USD

Småland with Islands

47510 USD

Historical GDP Per Capita (PPP) By Regions
Note: No data for 2019 and 2020 in some regions, denoted with 0 USD. | Source; Local Statistics Bureau | Unit: %

GDP Per Capita Growth By Regions

Top 5 Regions By Population & Their GDP Per Capita Growth Rate in 2020 | Unit: %

Sweden

-3.39 %

Stockholm

-3.27 %

West Sweden

-5.05 %

East Middle Sweden

-2.59 %

South Sweden

-1.81 %

Småland with Islands

-3.14 %

Historical GDP Per Capita Growth By Regions
Note: No data for 2019 and 2020 in some regions, denoted with 0%. | Source; Local Statistics Bureau | Unit: %