Traditionally, Sweden’s economy encouraged a high standard of living in combination with high-tech capitalism and extensive welfare benefits. The country’s economy is heavily dependent on foreign trade. Privately owned companies constitute 90% of the nation’s industrial output, of which the engineering sector accounts for 50% of output and exports. Until 2008, the Swedish economy enjoyed an upswing due to strong exports and increased domestic demand. However like most economies, Sweden too slid into recession in 3Q 2009 and suffered from diminishing growth till 1H 2009.
Sweden’s GDP – official exchange rate was $397.7 billion in 2009. The following chart shows Sweden’s GDP (PPP) from 2007-2009. All data are in USD billion.
The next chart shows Sweden’s GDP-real growth rate from 2007-2009. All data are in percentages.
The following chart shows GDP-per capita from 2007-2009. All data are in USD.