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Average Salary - Sweden SWEDEN / SALARY


SALARY SURVEYS

2,102

UPDATED
May 2022
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AVERAGE SALARY / YEAR MOST TYPICAL SALARY / YEAR
Gross income
Net (after tax)

9.45 SEK = 1 USD

629,791 SEK

$66,650 USD
Stockholm

672,256 SEK

491,360 SEK

$52,000 USD
Including "Stockholm"
Excluding "Stockholm"

Average Salary / Sweden

Average salary in Sweden is 629,791 SEK per year. The most typical earning is 491,360 SEK. All data are based on 2,102 salary surveys. Salaries are different between men and women. Men receive an average salary of 650,107 SEK. Women receive a salary of 556,560 SEK.

The most paid careers are Management & Business with average income 844,762 SEK and Health Care & Medical with income 814,524 SEK.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 686,014 SEK. The second most paid education level is Bellow H. School with salary of 680,345 SEK.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 860,825 SEK. Employees with 16-20 Years of experience receive 830,588 SEK.

Levels / Sweden (Gross SEK)

Salary Levels (SEK) per Year Surveys [%]
94,500 SEK - 141,699 SEK
5 100%
0.24%
141,700 SEK - 188,999 SEK
9 99.76%
0.43%
189,000 SEK - 236,199 SEK
16 99.33%
0.76%
236,200 SEK - 283,499 SEK
28 98.57%
1.33%
283,500 SEK - 330,699 SEK
53 97.24%
2.52%
330,700 SEK - 377,999 SEK
119 94.72%
5.66%
378,000 SEK - 425,199 SEK
162 89.06%
7.71%
425,200 SEK - 472,499 SEK
223 81.35%
10.61%
THE MOST TYPICAL SALARY
472,500 SEK - 519,699 SEK
256 70.74%
12.18%
519,700 SEK - 566,899 SEK
225 58.56%
10.7%
567,000 SEK - 614,199 SEK
170 47.86%
8.09%
614,200 SEK - 661,399 SEK
162 39.77%
7.71%
661,400 SEK - 708,699 SEK
111 32.06%
5.28%
708,700 SEK - 755,899 SEK
127 26.78%
6.04%
755,900 SEK - 803,199 SEK
62 20.74%
2.95%
803,200 SEK - 850,399 SEK
57 17.79%
2.71%
850,400 SEK - 897,699 SEK
63 15.08%
3%
897,700 SEK - 944,899 SEK
32 12.08%
1.52%
944,900 SEK - 992,199 SEK
32 10.56%
1.52%
992,200 SEK - 1,039,399 SEK
42 9.04%
2%
1,039,400 SEK - 1,086,699 SEK
21 7.04%
1%
1,086,700 SEK - 1,133,899 SEK
17 6.04%
0.81%
1,133,900 SEK - 1,181,099 SEK
8 5.23%
0.38%
1,181,200 SEK - 1,228,399 SEK
12 4.85%
0.57%
1,228,400 SEK - 1,275,599 SEK
8 4.28%
0.38%
1,275,600 SEK - 1,322,899 SEK
9 3.9%
0.43%
1,322,900 SEK - 1,370,099 SEK
8 3.47%
0.38%
1,370,100 SEK - 1,417,399 SEK
3 3.09%
0.14%
HIGH SALARIES
1,417,400 SEK - 1,511,899 SEK
18 2.95%
0.86%
1,511,900 SEK - 1,606,399 SEK
8 2.09%
0.38%
1,606,400 SEK - 1,700,899 SEK
8 1.71%
0.38%
1,700,900 SEK - 1,795,299 SEK
9 1.33%
0.43%
1,795,400 SEK - 1,889,799 SEK
1 0.9%
0.05%
1,889,800 SEK - 1,984,299 SEK
2 0.86%
0.1%
1,984,300 SEK - 2,078,799 SEK
0 n/a
2,078,800 SEK - 2,173,299 SEK
4 0.76%
0.19%
2,173,300 SEK - 2,267,799 SEK
4 0.57%
0.19%
2,267,800 SEK - 2,362,299 SEK
2 0.38%
0.1%
2,362,300 SEK - 3,307,199 SEK
6 0.29%
0.29%

Gender / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Men 1,546 650,107 SEK
2 Women 493 556,560 SEK

Education / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 197 686,014 SEK
2 Bellow H. School 15 680,345 SEK
3 Masters Degree 898 634,044 SEK
4 Some College 133 624,594 SEK
5 Bachelors Degree 786 619,870 SEK
6 High School 73 529,157 SEK

Experience / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 139 860,825 SEK
2 16-20 Years 145 830,588 SEK
3 12-16 Years 263 752,159 SEK
4 8-12 Years 443 662,391 SEK
5 4-8 Years 526 571,679 SEK
6 2-4 Years 304 517,818 SEK
7 0-1 Year 137 479,076 SEK
8 1-2 Years 145 474,351 SEK

Age / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 51-55 45 956,263 SEK
2 56-60 20 927,915 SEK
3 66-70 2 913,741 SEK
4 46-50 91 838,147 SEK
5 41-45 171 783,341 SEK
6 61-65 5 750,269 SEK
7 36-40 329 706,803 SEK
8 n/a 64 698,298 SEK
9 31-35 592 617,035 SEK
10 76-99 1 609,475 SEK
11 14-20 12 600,026 SEK
12 26-30 599 526,322 SEK
13 21-25 171 470,572 SEK

Work Type / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 30 758,773 SEK
2 Permanent 1,783 645,383 SEK
3 Contract 249 537,661 SEK
4 Part Time 40 407,262 SEK

Cities / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Täby 3 699,243 SEK
2 Boras 8 682,235 SEK
3 Stockholm 965 671,840 SEK
4 Gävle 20 661,446 SEK
5 Eskilstuna 12 623,649 SEK
6 Lund 92 621,759 SEK
7 Helsingborg 38 616,090 SEK
8 Södertälje 26 612,310 SEK
9 Malmö 169 610,420 SEK
10 Göteborg 489 600,026 SEK
11 Örebro 17 599,081 SEK
12 Jönköping 22 582,073 SEK
13 Uppsala 43 563,174 SEK
14 Norrköping 15 553,725 SEK
15 --Other-- 71 549,000 SEK
16 Umea 20 546,166 SEK
17 Västeras 35 528,212 SEK
18 Linköping 39 523,487 SEK
19 Karlstad 18 514,983 SEK

Career Groups / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Management & Business 251 844,762 SEK
2 Health Care & Medical 27 814,524 SEK
3 Insurance 5 789,011 SEK
4 Finance & Banking 69 737,040 SEK
5 Law 10 728,536 SEK
6 Health Care & Medical II 31 708,693 SEK
7 Engineers & Technicians III 4 704,913 SEK
8 Human Resources 31 660,501 SEK
9 IT & Programming II 180 652,942 SEK
10 Archaeology & History 1 648,217 SEK
11 Marketing, Sales, Purchase 133 633,099 SEK
12 Automobile 35 625,539 SEK
13 Salesmen & Saleswomen 15 616,090 SEK
14 IT & Programming 501 614,200 SEK
15 Accounting & Administration 69 593,412 SEK
16 Engineers & Technicians V 24 592,467 SEK
17 Logistics, Road, Railway 27 591,522 SEK
18 Engineers & Technicians IV 21 580,183 SEK
19 Engineers & Technicians II 16 574,513 SEK
20 Engineers & Technicians 353 564,119 SEK
21 Media 24 555,615 SEK
22 Education & University 73 552,780 SEK
23 Construction & Labor Workers 29 549,945 SEK
24 Manufacturing & Labor Workers 24 539,551 SEK
25 Sports & Recreation 2 529,157 SEK
26 Military 1 508,369 SEK
27 Making Design 33 497,030 SEK
28 Properties & Real Estates 2 493,250 SEK
29 Organization & Coordination 11 469,627 SEK
30 Architect Constructions 14 466,792 SEK
31 Public Sector 11 462,067 SEK
32 Fashion 11 451,673 SEK
33 Geography & Geodesy 4 445,059 SEK
34 Hotels & Tourism 7 440,334 SEK
35 Aviation & Shipping 8 434,665 SEK
36 Customer Services 17 418,601 SEK
37 Arts, Culture, Performance 3 413,876 SEK
38 Agriculture & Fishing 5 392,143 SEK
39 Restaurants, Inns, Pubs 20 384,584 SEK

Careers / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 General Manager 9 1,280,372 SEK
2 Director 35 1,240,685 SEK
3 University Professor 11 951,538 SEK
4 Sales Manager 13 917,521 SEK
5 Operations Manager 10 909,016 SEK
6 Finance Manager 12 892,008 SEK
7 Computer Architect 14 882,559 SEK
8 Business Development Manager 23 863,660 SEK
9 Human Resources Manager 14 847,596 SEK
10 Engineering Manager 17 842,872 SEK
11 Program Manager 10 817,359 SEK
12 Manager 36 815,469 SEK
13 Technical Manager 20 773,892 SEK
14 Risk Manager 10 772,947 SEK
15 Hardware Engineer 11 769,168 SEK
16 IT Manager 56 754,994 SEK
17 IT Project Manager 58 748,379 SEK
18 Consulting, Speaker 9 736,095 SEK
19 Product Manager 23 733,261 SEK
20 Other IT Career 20 731,371 SEK
21 Marketing Manager 21 714,362 SEK
22 Doctor 9 714,362 SEK
23 System Analyst 9 701,133 SEK
24 Other Management Career 15 674,675 SEK
25 Other Medical Career 14 669,006 SEK
26 Lead Developer 35 667,116 SEK
27 Project Manager 39 664,281 SEK
28 Electrical Engineer Lead 12 653,887 SEK
29 Data-warehouse Engineer 12 649,162 SEK
30 Marketing 12 639,713 SEK
31 IT Coordinator 20 626,484 SEK
32 Other Automobile Career 34 615,145 SEK
33 Python Developer 10 609,475 SEK
34 Construction Manager 9 603,806 SEK
35 Other Engineer Career 19 601,916 SEK
36 Software Engineer 53 600,026 SEK
37 Marketing Executive 9 599,081 SEK
38 Other Finance Career 11 588,687 SEK
39 Computer Engineer 9 585,852 SEK
40 Logistics Manager 10 583,963 SEK
41 Financial Analyst 17 580,183 SEK
42 Android Developer 9 576,403 SEK
43 .NET Developer 24 563,174 SEK
44 Software Developer 161 562,229 SEK
45 Java Developer 32 557,505 SEK
46 Engineer 102 555,615 SEK
47 Electrical Engineer 34 541,441 SEK
48 C, C++ Developer 37 539,551 SEK
49 Mechanical Engineer Lead 9 535,771 SEK
50 University Professor Assistant 13 531,047 SEK
51 Web Developer 12 528,212 SEK
52 Security Specialist 12 520,653 SEK
53 Research Engineer 52 518,763 SEK
54 Mechanical Engineer 68 507,424 SEK
55 Civil Engineer 13 493,250 SEK
56 Accountant 10 462,067 SEK
57 Other Education Career 27 459,233 SEK
58 Technician 9 379,859 SEK

People's individual salary examples (surveys)

System Admin
Posted 27 May 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 8-12 Years Intermediate 684,000 SEK

Consultant
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 8-12 Years Advanced 588,000 SEK

Forestry Manager
Posted 09 April 2022
City Education Experience Knowledge Gross salary / year
Örebro Some College 4-8 Years Intermediate 344,600 SEK

Associate Product Manager
Posted 09 April 2022
City Education Experience Knowledge Gross salary / year
Lund Masters Degree 4-8 Years Advanced 729,800 SEK

Summer Internship As Software Engineer
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Stockholm Some College 0-1 Year Advanced 352,700 SEK

Embeded Systems Engineer
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Uppsala Masters Degree 1-2 Years Intermediate 454,900 SEK

Saleswoman
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
--Other-- High School 1-2 Years Advanced 1,520,500 SEK

Data Migration Specalist
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Helsingborg Bachelors Degree 8-12 Years Expert 637,400 SEK

Ir Officer
Posted 22 March 2022
City Education Experience Knowledge Gross salary / year
Karlstad Masters Degree 0-1 Year Basic 535,600 SEK

Management Consultant
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Advanced 776,500 SEK

Asic Design
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Lund Masters Degree 8-12 Years Advanced 608,200 SEK

Developer
Posted 18 March 2022
City Education Experience Knowledge Gross salary / year
Örebro Bachelors Degree 1-2 Years Intermediate 389,200 SEK

Development Engineer
Posted 13 March 2022
City Education Experience Knowledge Gross salary / year
Lund Bachelors Degree 8-12 Years Expert 729,800 SEK

Supply Chain Manager
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 16-20 Years Expert 2,240,200 SEK

Function Developer
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 1-2 Years Intermediate 435,500 SEK

Communications Manager
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 8-12 Years Expert 405,500 SEK

Printing Technician
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm High School 16-20 Years Basic 437,700 SEK

Digital Transformation Head
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 8-12 Years Intermediate 754,200 SEK

Head Of Data
Posted 05 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Doctorate Degree 2-4 Years Expert 997,400 SEK

Researcher
Posted 20 February 2022
City Education Experience Knowledge Gross salary / year
Västeras Doctorate Degree 2-4 Years Expert 585,900 SEK

Software Developer
Posted 19 February 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 1-2 Years Intermediate 436,400 SEK

Worker
Posted 18 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Some College 4-8 Years Basic 333,400 SEK

Ciso
Posted 18 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 16-20 Years Expert 2,117,600 SEK

Business Transformation Consultant
Posted 17 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 1-2 Years Advanced 727,400 SEK

Digital Marketing Manager
Posted 16 February 2022
City Education Experience Knowledge Gross salary / year
Malmö Masters Degree 2-4 Years Advanced 545,500 SEK

Content Curation Specialist
Posted 15 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 1-2 Years Advanced 381,900 SEK

Engineering Manager
Posted 15 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Expert 800,100 SEK

Contract Support And Lead
Posted 17 January 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 8-12 Years Expert 754,200 SEK

Finance Manager
Posted 17 January 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 12-16 Years Expert 1,097,000 SEK

Communication Manager
Posted 15 January 2022
City Education Experience Knowledge Gross salary / year
Malmö Bachelors Degree 16-20 Years Advanced 1,097,000 SEK

Lead Engineer
Posted 12 January 2022
City Education Experience Knowledge Gross salary / year
Göteborg Bachelors Degree 4-8 Years Advanced 634,200 SEK

Inspection Engineer
Posted 12 January 2022
City Education Experience Knowledge Gross salary / year
--Other-- Bachelors Degree 4-8 Years Advanced 493,600 SEK

Project Leader
Posted 10 January 2022
City Education Experience Knowledge Gross salary / year
Göteborg Bachelors Degree 4-8 Years Advanced 573,600 SEK

Engineer
Posted 08 January 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 1-2 Years Advanced 571,300 SEK

Software Project Manager
Posted 04 January 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 4-8 Years Advanced 630,800 SEK

Cloud Platform Developer
Posted 02 January 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 2-4 Years Intermediate 648,600 SEK

Project Assistant
Posted 31 December 2021
City Education Experience Knowledge Gross salary / year
Södertälje Masters Degree 0-1 Year Intermediate 479,900 SEK

Chief Technology Officer
Posted 30 December 2021
City Education Experience Knowledge Gross salary / year
Malmö Bachelors Degree 16-20 Years Expert 1,371,300 SEK

Software Developer
Posted 27 December 2021
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 2-4 Years Advanced 617,100 SEK

Chemist
Posted 26 December 2021
City Education Experience Knowledge Gross salary / year
Stockholm Doctorate Degree 8-12 Years Advanced 571,300 SEK

Designer
Posted 24 December 2021
City Education Experience Knowledge Gross salary / year
Boras Bachelors Degree 8-12 Years Advanced 548,500 SEK

Procurement
Posted 29 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Advanced 685,600 SEK

Professor
Posted 27 November 2021
City Education Experience Knowledge Gross salary / year
Malmö Doctorate Degree 16-20 Years Expert 914,200 SEK

Senior Software Engineer
Posted 27 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 2-4 Years Advanced 877,600 SEK

Operations Manager
Posted 26 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Some College 8-12 Years Advanced 769,000 SEK

Process Engineer
Posted 24 November 2021
City Education Experience Knowledge Gross salary / year
Norrköping Bachelors Degree 12-16 Years Expert 745,800 SEK

Product Manager
Posted 24 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 1-2 Years Advanced 883,700 SEK

Professional Coach
Posted 23 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 4-8 Years Advanced 486,700 SEK

Receptionist
Posted 23 November 2021
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 4-8 Years Intermediate 534,800 SEK

Warehouse Employee
Posted 21 November 2021
City Education Experience Knowledge Gross salary / year
Helsingborg High School 0-1 Year Intermediate 411,400 SEK

ECONOMY / Sweden

Introduction

Sweden is a country found in Europe, it's the fourth largest country in Europe by land area. It has attractive scenarios such as inland lakes, mountains, and coastal islands.  The currency used for transactions is the Swedish krona.

Sweden has an export-oriented economy. The country is doing well economically, thus being ranked twenty-third globally for nominal GDP. If you are wondering why Sweden's economy is huge. The guide will help you know how various sectors contribute to the country's economy, Sweden's labor force, and inflation.

 

GDP

World Economic Outlook database estimates for 2021 is $ 612 billion for nominal GDP and $ 583 billion for Purchasing Power Parity GDP. The nominal GDP ranking for Sweden is 23rd globally. For GDP in terms of purchasing power parity, Sweden is ranked as the 40th globally.

The nominal GDP per capita estimate is $ 57,660 hence being ranked as the twelve largest globally, while the GDP per capita in terms of PPP is $ 54,953, making it number fifteen worldwide.

Sweden's GDP has a downward trend. The GDP growth for the year 2019 was 1.3 percent, respectively. In the year 2020 had a great drop of -4.7 percent. In the year 2021, the estimated GDP growth is 3.5 percent.

The service sector made the highest contribution to Sweden's economy in 2021. It had a GDP growth of 65.4 percent. Industries contribute 33 percent and the agricultural sector around 1.6 percent.

 

Economic sector

·       Agricultural sector

The agricultural sector accounts for about 1.6 percent of Sweden's GDP growth. We find that the percentage of people employed by this sector is two percent. The sector contributes to the country's economy by hiring staff and exporting the excess produce. The main agricultural products in Sweden are potatoes, grains, vegetables, fruits, and dairy products.

Sweden also does forestry, where you find a quarter is company-owned, another quarter is publicly owned, and a half is privately owned. The forests have facilitated small farmer's employment. The forest is a great source of timber which is Sweden's main export.

Fishing also contributes to Sweden's agricultural sector. The country has traditional fishing areas in the northern sea where salmon, lobster, and shrimps are fished.

·       Industry sector

The industry sector accounts for thirty-three percent of Sweden's economic growth. The main companies found in this sector include motor vehicles, foods processing, iron and steel, electronic equipment, and pharmaceuticals products. Some of the popular manufacturing industries include Volvo and Electrolux. Sweden's industry sector employs approximately 12 percent of the workforce.

The manufacturing companies produce their product in bulk quantities, thus facilitating exports to other countries. Sweden is a great export of timber and timber products.

·       Service industry

The service sector has the highest contribution to Sweden's economy.  The GDP growth of the service sector in the year 2017 was 65.4 percent. The service sector has also employed the largest workforce, which is about 86 percent. Sweden's economy has also boosted the export of services such as technology consultancy services. Tourism also plays a  major role in the GDP growth of the service sector.

 

Employment Sector

1.    Employment

In the year 2020, the number of employed people was 5,503,812. In the year 2019, Sweden had an employment rate of 81.1 percent. The service sector has employed the largest labor force, where most people are employed in business services and financial corporations. The industry sector is ranked second and agricultural third.

The employment rate has increased over the years. This is due to the increase in Sweden's population. The population increase has been linked to an increase in the number of immigrants and births. Most of the people are employed by the private sector. In Sweden men have more job placements than the female however over the years the gap has been narrowing. The average gross salary is $ 54,000 annually.

2.    Unemployment

Based on the unemployment by sex and age monthly statistics by September 2020, the countries unemployment rate was 9 percent. The youths who are mostly between the age of 15 and 24 account for approximately 28.9 percent of people unemployed. After the Covid 19 pandemic, the level of unemployment increased as some industries slowed down their production, and also, the government compensation schemes hindered some people from seeking employment.

 

Exports and Imports

Exports

In the year 2017, Sweden's exports amounted to $ 169.7 billion. The main goods exported include pulp and wood, iron and steel products, chemicals, military armaments, motor vehicles, machinery, and paper products. Sweden's largest exporter is Germany which accounts for 11 percent of the country's exports. Other main exporters include China, Netherlands, United States, United Kingdom, Finland, and Norway.

Imports

In 2017 Sweden's imports were approximately $ 154.8 billion. The main import partners include France, China, Finland, Belgium, United Kingdom, Denmark, Norway, Netherlands, and Germany. Sweden imports include petroleum and petroleum products, chemicals, foodstuff, clothing, iron and steel, motor vehicles, and machinery.

 

Inflation

Sweden's inflation has been decreasing over the years. The country's inflation rate for the year 2018 and 2019 was 2 percent and 1.3 percent, respectively.

World economic outlook database estimates for the year 2020 was – 4.7 percent. The estimates were low in 2020 due to Covid 19 pandemic, which adversely affected the economy adversely.

As of August 2021, Sweden experienced a 2.1 percent inflation rate. The high inflation rate resulted from the increase in transport, footwear, clothing, non-alcoholic beverages, and food.

On the other hand, there was a decrease in health, recreation, and communication prices. The estimate for inflation CPI for the year 2021 is 3.5 percent.

 

Conclusion

Sweden has an export-oriented economy. The production of iron ore, timber, and hydropower is the main reason for adopting that kind of economy. The country has a highly competitive and open market economy. Most of the companies are privately owned.  Sweden is the 23rd largest in the world in terms of nominal GDP. The service sector is the highest contributor to the Sweden economy, accounting for 65.4 percent and employing more than eighty percent of the workforce.

The main industries attributing to the high economic growth include pharmaceuticals, industrial machines, forestry, iron and steel, precision equipment, motor vehicles, and home goods and appliances.


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