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Economy and Banking Sector of Sweden

Sweden
Location
Northern Europe
EU Status
member since 1995

Sweden (officially the Kingdom of Sweden) is a prosperous, democratic country in Northern Europe with a high standard of living, a low level of corruption, and a high level of education and health care.

Currency
SEK (Swedish krona/kronor)
Population  (2017)
9 995 153  (+0.01%)
Nominal GDP (2017)
477.9 bln EUR  (+0.03%)
Credit Ratings (as of Sep 2016)
AAA/Aaa

Swedish economy is characterised by a large, knowledge-intensive and export-oriented manufacturing sector; an increasing, but still small, business service sector. Main industries of Swedish economy are iron and steel, precision equipment, wood pulp and paper products, processed foods, motor vehicles.

Withholding tax rates in Sweden are 0.0-30.0 %. Sweden signed 77 double taxation agreements.
Sweden signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Sweden has FATCA agreement with the U.S. in effect since 08 August 2014 (Intergovernmental Agreement Model 1).

Number of Banks
161
Consolidated Banking Assets (2016)
1 593.41 bln EUR  (-1.79%)
Deposit Guarantee
100 000 EUR

Swedish banking sector is dominated by "Big Four" domestic banks, operating as universal banks. There are also a number of foreign-controlled banks, and regional savings banks. The "Big Four" Swedish banks have prominent presence in other Scandinavian Countries and Baltic States.

See Also