Introduction
Background
A military power during the 17th century, Sweden has not participated in any war for two centuries. An armed neutrality was preserved in both World Wars. Since then, Sweden has pursued a successful economic formula consisting of a capitalist system intermixed with substantial welfare elements.
Geography
Area
total: 450,295 sq km
land: 410,335 sq km
water: 39,960 sq km
Climate
temperate in south with cold, cloudy winters and cool, partly cloudy summers; subarctic in north
Natural resources
iron ore, copper, lead, zinc, gold, silver, tungsten, uranium, arsenic, feldspar, timber, hydropower
People and Society
Population
10,536,338 (2023 est.)
Ethnic groups
Swedish 80.3%, Syrian 1.9%, Iraqi 1.4%, Finnish 1.4%, other 15%
(2020 est.)Languages
Swedish (official)
Religions
Church of Sweden (Lutheran) 57.6%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 8.9%, none or unspecified 33.5% (2019 est.)
Population growth rate
0.51% (2023 est.)
Government
Government type
parliamentary constitutional monarchy
Capital
name: Stockholm
Executive branch
chief of state: King CARL XVI GUSTAF (since 15 September 1973); Heir Apparent Princess VICTORIA Ingrid Alice Desiree (daughter of the monarch, born 14 July 1977)
head of government: Prime Minister Ulf KRISTERSSON (since 18 October 2022); Deputy Prime Minister Ebba BUSCH (since 18 October 2022)
Legislative branch
description: unicameral Parliament or Riksdag (349 seats; 310 members directly elected in multi-seat constituencies by open party-list proportional representation vote and 39 members in "at-large" seats directly elected by open party-list proportional representation vote; members serve 4-year terms)
Economy
Economic overview
small, open, competitive, and thriving economy that remains outside of the euro zone; has achieved an enviable standard of living, with its combination of free-market capitalism and extensive welfare benefits
Real GDP (purchasing power parity)
$574.877 billion (2022 est.)
$558.427 billion (2021 est.)
$531.455 billion (2020 est.)
Real GDP per capita
$54,800 (2022 est.)
$53,600 (2021 est.)
$51,300 (2020 est.)
Agricultural products
wheat, milk, sugar beets, barley, potatoes, oats, rapeseed, pork, rye, triticale
Industries
iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
Remittances
0.52% of GDP (2021 est.)
0.57% of GDP (2020 est.)
0.6% of GDP (2019 est.)
Exports
$290.793 billion (2021 est.)
$241.94 billion (2020 est.)
$257.293 billion (2019 est.)
Exports - partners
Germany 10%, Norway 9%, United States 8%, Denmark 8%, Finland 6% (2021)
Exports - commodities
cars and vehicle parts, refined petroleum, packaged medicines, lumber, iron, broadcasting equipment (2021)
Imports
$263.269 billion (2021 est.)
$217.165 billion (2020 est.)
$233.648 billion (2019 est.)
Imports - partners
Germany 18%, Netherlands 9%, Norway 8%, China 7%, Denmark 7% (2021)
Imports - commodities
cars and vehicle parts, crude petroleum, refined petroleum, broadcasting equipment, computers (2021)
Exchange rates
Swedish kronor (SEK) per US dollar -
Exchange rates:
8.577 (2021 est.)
9.21 (2020 est.)
9.458 (2019 est.)
8.693 (2018 est.)
8.549 (2017 est.)
Page last updated: Wednesday, December 13, 2023
