Sweden

Introduction Key Economic Facts Risk Assessment (Provided by Coface) Sweden is a country located in Northern Europe bordering Income Level (by per capita High Income Country rating: A2 - The political and economic situation is the Baltic Sea, Gulf of Bothnia, Kattegat, and Skagerrak. GNI): good. A basically stable and efficient business environment Neighboring countries include Finland and Norway. It boasts Level of Development: Developed nonetheless leaves room for improvement. Corporate a strategic location along Danish Straits GDP, PPP (current international $574.13 billion (2019) linking Baltic and North Seas. The $): default probability is low on average. geography of Sweden is mostly flat with GDP growth (annual %): 1.26% (2019) Business Climate rating: A1 - The business environment mountains in the west. The government GDP per capita, PPP (current $55,819.87 (2019) is very good. Corporate financial information is available and system is a constitutional monarchy; the international $): reliable. Debt collection is efficient. Institutional quality is chief of state is the king, and the head of government is the Manufacturing, value added (% 13.04% (2019) very good. Intercompany transactions run smoothly in prime minister. Sweden has a mixed economic system in of GDP): which there is a variety of private freedom, combined with Current account balance (BoP, $22.35 billion (2019) environments rated A1. centralized economic planning current US$): Strengths and government regulation. Inflation, consumer prices 1.78% (2019) • Very favorable business environment (annual %): Sweden is a member of the • Very diversified economy, specialized in high-tech European Union (EU). Labor force, total: 5,503,812 (2020) Unemployment, total (% of 6.67% (2020) products and the green economy total labor force) (modeled ILO • Sound public finances estimate): • Increasingly dynamic demographics Imports of goods and services $230.75 billion (2019) (current US$): Weaknesses Location: Northern Europe Exports of goods and services $249.62 billion (2019) • Highly dependent on global demand Capital City: Stockholm (+1 GMT) (current US$): • Tensions on the real-estate market Chief of State: King Carl XVI Gustaf • Substantial household debt (188% of personal Head of Govt.: Prime Minister Stefan Löfven disposable income, 2019) Currency: Swedish kronor (SEK) GDP Composition % Agriculture Services Industry Manufacturing • Highly concentrated banking sector Major Languages:

Swedish (official), Finnish, Sami, Romani, Yiddish, and Meankieli are U.S. Embassy official minority languages 

65 22 U.S. Embassy Stockholm Primary Religions:

Church of Sweden (Lutheran) 1 13 60.2%, other (includes Roman Dag Hammarskjölds Väg 31 Catholic, Orthodox, Baptist, Muslim, *Although Manufacturing is included in the Industry figures, it is also separately SE-115 89 Stockholm Jewish, and Buddhist) 8.5%, none or reported because it plays a critical role in economy. Phone: 08-783 53 00 unspecified 31.3% (2017 est.)

Rankings https://se.usembassy.gov Calling Code: 46 Index Rank Voltage: 230 Corruption Perceptions Index 4 / 180 Key Websites EY Globalization Index 7 / 60 Global Competitiveness Index 8 / 141 Main Government Page: government.se Global Enabling Trade Index 5 / 136 Export Promotion Agency: kommers.se Global Manufacturing Competitiveness Index 13 / 40 Investment Promotion business-sweden.se (GMCI) Agency: Index of Economic Freedom 19 / 179 International Logistics Performance Index (LPI) 2 / 160 Inward FDI Potential Index 8 / 139 KOF Index of Globalization 7 / 185 Networked Readiness Index (NRI) 3 / 139 Open Budget Index 3 / 115

Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV