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Economy and Banking Sector of Sweden

National Currency

Swedish Krona/kronor (SEK)

Exchange Rate

1 EUR = 10.371 SEK (2020-10-28)

During the last 11 years EURSEK exchange rate was within the range 8.3362 - 10.8125, reaching its maximum in Jun 2009 and falling to its minimum in Aug 2012.

Euro to Swedish krona/kronor (EURSEK).

Chart 1. Euro to Swedish krona/kronor (EURSEK). Source: ECB.

GDP

Nominal GDP (2019)
474.1 bln EUR  (+0.01%)
Nominal GDP per Capita (2019)
46,130 EUR  (0.00%)
Real GDP Growth (2019)
1.2 %  (2018: 2.3 %)

According to Eurostat, nominal GDP of Sweden in 2019 was 474.1 bln EUR.

Sweden outperforms the European Union in terms of real GDP growth with the average annual differential coming to 0.5% over the past 10 years (2009 - 2019). In 2019 real GDP growth was 1.2% which was equal to the Euro Area average (1.2%) and below the European Union average (1.5%). Real GDP growth in 2020 - 2024 are IMF's estimates.

Real GDP Growth in Sweden.

Chart 2. Real GDP Growth in Sweden. Source: Eurostat, International Monetary Fund.

In 2019, nominal GDP per capita in Sweden was 46,130 EUR.

Sweden has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 19.5% over the past 10 years (2008 - 2018). GDP per capita at PPP in 2019 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Sweden; European Union = 100.

Chart 3. GDP Per Capita at Purchasing Power Parity in Sweden; European Union = 100.

Inflation Rate

CPI, MoM (Apr 2020)
-0.4 %  (Mar 2020: -0.2 %)
CPI, YoY (Apr 2020)
-0.2 %  (Mar 2020: 0.8 %)
CPI, Year Average (2019)
1.7 %  (2018: 2.0 %)

According to Eurostat, inflation rate in Sweden in 2019 expressed as annual percentages of average consumer prices was 1.7% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Inflation rates in 2020 - 2024 are IMF's estimates.

Inflation Rate in Sweden.

Chart 4. Inflation Rate in Sweden. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2019)
6.8 %  (2018: 6.3 %)

According to Eurostat, unemployment rate in Sweden in 2019 was 6.8% which was below the Euro Area average (7.6%) and above the European Union average (6.3%). Unemployment rates in 2020 - 2024 are IMF's estimates.

Unemployment Rate in Sweden.

Chart 5. Unemployment Rate in Sweden. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Apr 2020)
-0.07 %  (Mar 2020: -0.17 %)

According to Eurostat, government bond yield in Sweden in April 2020 was -0.07%, compared to -0.17% in March 2020.

Government bond yield of Sweden.

Chart 6. Government bond yield of Sweden. Source: Eurostat.

Credit Ratings (as of Aug 2020)

Fitch
AAA (highest credit quality), outlook stable
Moody's
Aaa (prime), outlook stable
Scope
AAA (prime), outlook stable

Sweden has sovereign credit ratings assigned by American credit rating agencies Fitch and Moody's: the rating set by Fitch is AAA (highest credit quality), outlook stable; the rating set by Moody's is Aaa (prime), outlook stable. Scope Ratings, the European rating agency, rated Sweden as AAA (prime), outlook stable.

Fitch and Moody's rating data are provided for June 2020, Scope Ratings for August 2020.