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Average Salary - Sweden SWEDEN / SALARY


SALARY SURVEYS

2,127

UPDATED
September 2023
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AVERAGE SALARY / YEAR MOST TYPICAL SALARY / YEAR
Gross income
Net (after tax)

10.41 SEK = 1 USD

693,469 SEK

$66,617 USD
Stockholm

741,885 SEK

541,309 SEK

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

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Average Salary / Sweden

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Average salary in Sweden is 693,469 SEK per year. The most typical earning is 541,309 SEK. All data are based on 2,127 salary surveys. Salaries are different between men and women. Men receive an average salary of 716,194 SEK. Women receive a salary of 611,055 SEK.

The most paid careers are Management & Business with average income 933,759 SEK and Health Care & Medical with income 897,324 SEK.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 750,546 SEK. The second most paid education level is Bellow H. School with salary of 749,505 SEK.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 948,332 SEK. Employees with 16-20 Years of experience receive 923,349 SEK.

Levels / Sweden (Gross SEK)

Salary Levels (SEK) per Year Surveys [%]
104,100 SEK - 156,099 SEK
5 100%
0.24%
156,100 SEK - 208,199 SEK
10 99.76%
0.47%
208,200 SEK - 260,199 SEK
16 99.29%
0.75%
260,200 SEK - 312,299 SEK
29 98.54%
1.36%
312,300 SEK - 364,299 SEK
54 97.18%
2.54%
364,300 SEK - 416,399 SEK
120 94.64%
5.64%
416,400 SEK - 468,399 SEK
165 89%
7.76%
468,400 SEK - 520,499 SEK
225 81.24%
10.58%
THE MOST TYPICAL SALARY
520,500 SEK - 572,499 SEK
257 70.66%
12.08%
572,500 SEK - 624,599 SEK
229 58.58%
10.77%
624,600 SEK - 676,599 SEK
176 47.81%
8.27%
676,600 SEK - 728,699 SEK
163 39.54%
7.66%
728,700 SEK - 780,699 SEK
111 31.88%
5.22%
780,700 SEK - 832,799 SEK
127 26.66%
5.97%
832,800 SEK - 884,799 SEK
62 20.69%
2.91%
884,800 SEK - 936,899 SEK
57 17.77%
2.68%
936,900 SEK - 988,899 SEK
64 15.09%
3.01%
988,900 SEK - 1,040,999 SEK
33 12.08%
1.55%
1,041,000 SEK - 1,092,999 SEK
33 10.53%
1.55%
1,093,000 SEK - 1,145,099 SEK
42 8.98%
1.97%
1,145,100 SEK - 1,197,099 SEK
21 7.01%
0.99%
1,197,100 SEK - 1,249,199 SEK
17 6.02%
0.8%
1,249,200 SEK - 1,301,199 SEK
8 5.22%
0.38%
1,301,200 SEK - 1,353,299 SEK
12 4.84%
0.56%
1,353,300 SEK - 1,405,299 SEK
8 4.28%
0.38%
1,405,300 SEK - 1,457,399 SEK
9 3.9%
0.42%
1,457,400 SEK - 1,509,399 SEK
8 3.48%
0.38%
1,509,400 SEK - 1,561,499 SEK
3 3.1%
0.14%
HIGH SALARIES
1,561,500 SEK - 1,665,599 SEK
18 2.96%
0.85%
1,665,600 SEK - 1,769,699 SEK
8 2.12%
0.38%
1,769,700 SEK - 1,873,799 SEK
8 1.74%
0.38%
1,873,800 SEK - 1,977,899 SEK
9 1.36%
0.42%
1,977,900 SEK - 2,081,899 SEK
1 0.94%
0.05%
2,082,000 SEK - 2,185,999 SEK
2 0.89%
0.09%
2,186,100 SEK - 2,290,099 SEK
0 n/a
2,290,200 SEK - 2,394,199 SEK
4 0.8%
0.19%
2,394,300 SEK - 2,498,299 SEK
4 0.61%
0.19%
2,498,400 SEK - 2,602,399 SEK
3 0.42%
0.14%
2,602,500 SEK - 3,643,399 SEK
6 0.28%
0.28%
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Gender / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Men 1,564 716,194 SEK
2 Women 500 611,055 SEK

Education / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 201 750,546 SEK
2 Bellow H. School 15 749,505 SEK
3 Masters Degree 910 699,538 SEK
4 Some College 133 688,087 SEK
5 Bachelors Degree 794 682,882 SEK
6 High School 74 577,743 SEK

Experience / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 139 948,332 SEK
2 16-20 Years 148 923,349 SEK
3 12-16 Years 264 828,620 SEK
4 8-12 Years 444 729,726 SEK
5 4-8 Years 536 629,792 SEK
6 2-4 Years 308 570,457 SEK
7 0-1 Year 140 524,653 SEK
8 1-2 Years 148 521,530 SEK

Age / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 56-60 21 1,095,110 SEK
2 51-55 45 1,053,471 SEK
3 66-70 2 1,006,627 SEK
4 46-50 91 923,349 SEK
5 41-45 175 859,849 SEK
6 36-40 334 776,571 SEK
7 61-65 6 771,366 SEK
8 n/a 64 769,284 SEK
9 31-35 598 680,800 SEK
10 76-99 1 671,432 SEK
11 14-20 12 661,022 SEK
12 26-30 605 578,784 SEK
13 21-25 173 516,326 SEK

Work Type / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 30 835,906 SEK
2 Permanent 1,805 710,989 SEK
3 Contract 251 590,235 SEK
4 Part Time 41 442,416 SEK

Cities / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Täby 3 770,325 SEK
2 Boras 8 751,587 SEK
3 Stockholm 974 742,218 SEK
4 Gävle 20 728,686 SEK
5 Eskilstuna 12 687,046 SEK
6 Lund 93 681,841 SEK
7 Helsingborg 39 678,718 SEK
8 Malmö 171 672,473 SEK
9 Göteborg 495 659,981 SEK
10 Örebro 17 659,981 SEK
11 Södertälje 28 658,940 SEK
12 Jönköping 22 641,243 SEK
13 Uppsala 45 616,260 SEK
14 Norrköping 15 610,014 SEK
15 --Other-- 71 604,809 SEK
16 Umea 20 601,686 SEK
17 Västeras 35 581,907 SEK
18 Linköping 41 572,539 SEK
19 Karlstad 18 567,334 SEK

Career Groups / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 Management & Business 255 933,759 SEK
2 Health Care & Medical 27 897,324 SEK
3 Insurance 5 869,218 SEK
4 Law 11 826,538 SEK
5 Finance & Banking 69 811,964 SEK
6 Engineers & Technicians III 4 776,571 SEK
7 Health Care & Medical II 33 761,997 SEK
8 Human Resources 31 727,645 SEK
9 IT & Programming II 181 719,317 SEK
10 Archaeology & History 1 714,112 SEK
11 Marketing, Sales, Purchase 135 695,374 SEK
12 Automobile 35 689,128 SEK
13 Salesmen & Saleswomen 16 677,677 SEK
14 IT & Programming 507 675,596 SEK
15 Accounting & Administration 69 653,735 SEK
16 Engineers & Technicians V 24 652,694 SEK
17 Engineers & Technicians IV 21 639,161 SEK
18 Engineers & Technicians II 16 632,915 SEK
19 Logistics, Road, Railway 29 628,751 SEK
20 Engineers & Technicians 357 621,465 SEK
21 Media 24 612,096 SEK
22 Education & University 74 605,850 SEK
23 Construction & Labor Workers 29 605,850 SEK
24 Manufacturing & Labor Workers 25 594,399 SEK
25 Sports & Recreation 2 582,948 SEK
26 Military 1 560,047 SEK
27 Making Design 33 547,555 SEK
28 Properties & Real Estates 2 543,391 SEK
29 Organization & Coordination 11 517,367 SEK
30 Architect Constructions 14 514,244 SEK
31 Public Sector 11 509,039 SEK
32 Fashion 11 497,588 SEK
33 Geography & Geodesy 4 490,301 SEK
34 Hotels & Tourism 7 485,096 SEK
35 Aviation & Shipping 8 478,850 SEK
36 Customer Services 17 461,154 SEK
37 Arts, Culture, Performance 3 455,949 SEK
38 Agriculture & Fishing 5 432,006 SEK
39 Restaurants, Inns, Pubs 20 423,678 SEK

Careers / Sweden (Gross SEK)

# Surveys AVERAGE SALARY / YEAR
1 General Manager 10 1,523,994 SEK
2 Director 36 1,356,396 SEK
3 University Professor 11 1,048,266 SEK
4 Sales Manager 13 1,010,791 SEK
5 Operations Manager 10 1,001,422 SEK
6 Finance Manager 12 982,685 SEK
7 Computer Architect 14 972,275 SEK
8 Business Development Manager 23 951,455 SEK
9 Human Resources Manager 14 933,759 SEK
10 Engineering Manager 18 930,636 SEK
11 Program Manager 10 900,447 SEK
12 Manager 36 898,365 SEK
13 Technical Manager 20 852,562 SEK
14 Risk Manager 10 851,521 SEK
15 Hardware Engineer 11 847,357 SEK
16 IT Manager 57 829,661 SEK
17 IT Project Manager 58 824,456 SEK
18 Consulting, Speaker 9 810,923 SEK
19 Product Manager 23 807,800 SEK
20 Other IT Career 20 805,718 SEK
21 Marketing Manager 21 786,980 SEK
22 Doctor 9 786,980 SEK
23 System Analyst 9 772,407 SEK
24 Other Management Career 15 743,259 SEK
25 Other Medical Career 14 737,013 SEK
26 Lead Developer 36 732,849 SEK
27 Project Manager 40 724,522 SEK
28 Electrical Engineer Lead 12 720,358 SEK
29 Data-warehouse Engineer 12 715,153 SEK
30 Marketing 12 704,743 SEK
31 IT Coordinator 21 680,800 SEK
32 Other Automobile Career 34 677,677 SEK
33 Python Developer 10 671,432 SEK
34 Construction Manager 9 665,186 SEK
35 Other Engineer Career 19 663,104 SEK
36 Software Engineer 54 661,022 SEK
37 Marketing Executive 9 659,981 SEK
38 Other Finance Career 11 648,530 SEK
39 Computer Engineer 9 645,407 SEK
40 Financial Analyst 17 639,161 SEK
41 Android Developer 9 634,997 SEK
42 Logistics Manager 11 623,547 SEK
43 .NET Developer 24 620,424 SEK
44 Software Developer 162 619,383 SEK
45 Java Developer 32 614,178 SEK
46 Engineer 103 611,055 SEK
47 Electrical Engineer 34 596,481 SEK
48 C, C++ Developer 38 595,440 SEK
49 University Professor Assistant 13 585,030 SEK
50 Web Developer 12 581,907 SEK
51 Security Specialist 12 573,579 SEK
52 Research Engineer 53 566,293 SEK
53 Mechanical Engineer 68 559,006 SEK
54 Purchaser 9 546,514 SEK
55 Civil Engineer 13 543,391 SEK
56 Accountant 10 509,039 SEK
57 Other Education Career 28 501,752 SEK
58 Technician 9 418,473 SEK

People's individual salary examples (surveys)

It-system Specialist
Posted 23 August 2023
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 16-20 Years Advanced 498,600 SEK

Salesforce Developer
Posted 20 July 2023
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 2-4 Years Expert 578,300 SEK

Engineering Manager
Posted 19 July 2023
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 4-8 Years Advanced 961,900 SEK

Sales Engineer
Posted 17 May 2023
City Education Experience Knowledge Gross salary / year
Södertälje Masters Degree 1-2 Years Intermediate 480,900 SEK

Studying
Posted 17 May 2023
City Education Experience Knowledge Gross salary / year
Göteborg High School 0-1 Year Intermediate 202,900 SEK

Purchaser
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 4-8 Years Advanced 587,000 SEK

Design Engineer
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Göteborg Bachelors Degree 4-8 Years Advanced 528,300 SEK

Chief Executive Officer
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 16-20 Years Advanced 2,543,700 SEK

Boat
Posted 27 September 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 0-1 Year Intermediate 587,000 SEK

Bi Consultant
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Helsingborg Masters Degree 2-4 Years Advanced 673,700 SEK

Software Engineer
Posted 10 September 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Advanced 639,200 SEK

Logistic Developer
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Södertälje Masters Degree 1-2 Years Advanced 431,900 SEK

Researcher In Polymer Chemistry
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Lund Doctorate Degree 2-4 Years Advanced 345,500 SEK

Technology Lead
Posted 01 September 2022
City Education Experience Knowledge Gross salary / year
Göteborg Doctorate Degree 4-8 Years Expert 622,500 SEK

Analyst
Posted 30 August 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 1-2 Years Basic 452,000 SEK

Business Manager
Posted 27 July 2022
City Education Experience Knowledge Gross salary / year
Uppsala Doctorate Degree 4-8 Years Expert 666,300 SEK

Postdoctoral Fellow
Posted 22 July 2022
City Education Experience Knowledge Gross salary / year
Linköping Doctorate Degree 4-8 Years Expert 297,700 SEK

Phd Student
Posted 20 July 2022
City Education Experience Knowledge Gross salary / year
Uppsala Masters Degree 0-1 Year Intermediate 369,200 SEK

Test Manager
Posted 14 July 2022
City Education Experience Knowledge Gross salary / year
Linköping Bachelors Degree 8-12 Years Advanced 687,400 SEK

Founder
Posted 13 June 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Intermediate 447,100 SEK

Legal Counsel
Posted 10 June 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Advanced 1,064,600 SEK

Director Rnd
Posted 10 June 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 16-20 Years Expert 1,000,700 SEK

Embedded Developer
Posted 08 June 2022
City Education Experience Knowledge Gross salary / year
Malmö Bachelors Degree 2-4 Years Advanced 638,700 SEK

Account Executive
Posted 08 June 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 4-8 Years Advanced 651,500 SEK

System Admin
Posted 27 May 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 8-12 Years Intermediate 753,500 SEK

Software Architect
Posted 25 May 2022
City Education Experience Knowledge Gross salary / year
Malmö Bachelors Degree 12-16 Years Advanced 661,000 SEK

Consultant
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 8-12 Years Advanced 647,800 SEK

Forestry Manager
Posted 09 April 2022
City Education Experience Knowledge Gross salary / year
Örebro Some College 4-8 Years Intermediate 379,700 SEK

Associate Product Manager
Posted 09 April 2022
City Education Experience Knowledge Gross salary / year
Lund Masters Degree 4-8 Years Advanced 804,000 SEK

Summer Internship As Software Engineer
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Stockholm Some College 0-1 Year Advanced 388,600 SEK

Embeded Systems Engineer
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Uppsala Masters Degree 1-2 Years Intermediate 501,200 SEK

Saleswoman
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
--Other-- High School 1-2 Years Advanced 1,675,000 SEK

Data Migration Specalist
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Helsingborg Bachelors Degree 8-12 Years Expert 702,200 SEK

Ir Officer
Posted 22 March 2022
City Education Experience Knowledge Gross salary / year
Karlstad Masters Degree 0-1 Year Basic 590,100 SEK

Management Consultant
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 4-8 Years Advanced 855,400 SEK

Asic Design
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Lund Masters Degree 8-12 Years Advanced 670,000 SEK

Developer
Posted 18 March 2022
City Education Experience Knowledge Gross salary / year
Örebro Bachelors Degree 1-2 Years Intermediate 428,800 SEK

Development Engineer
Posted 13 March 2022
City Education Experience Knowledge Gross salary / year
Lund Bachelors Degree 8-12 Years Expert 804,000 SEK

Supply Chain Manager
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 16-20 Years Expert 2,467,900 SEK

Function Developer
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 1-2 Years Intermediate 479,700 SEK

Communications Manager
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 8-12 Years Expert 446,700 SEK

Printing Technician
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm High School 16-20 Years Basic 482,200 SEK

Digital Transformation Head
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Stockholm Masters Degree 8-12 Years Intermediate 830,800 SEK

Head Of Data
Posted 05 March 2022
City Education Experience Knowledge Gross salary / year
Göteborg Doctorate Degree 2-4 Years Expert 1,098,800 SEK

Researcher
Posted 20 February 2022
City Education Experience Knowledge Gross salary / year
Västeras Doctorate Degree 2-4 Years Expert 645,500 SEK

Software Developer
Posted 19 February 2022
City Education Experience Knowledge Gross salary / year
Göteborg Masters Degree 1-2 Years Intermediate 480,800 SEK

Worker
Posted 18 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Some College 4-8 Years Basic 367,300 SEK

Ciso
Posted 18 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 16-20 Years Expert 2,332,900 SEK

Business Transformation Consultant
Posted 17 February 2022
City Education Experience Knowledge Gross salary / year
Stockholm Bachelors Degree 1-2 Years Advanced 801,300 SEK

Digital Marketing Manager
Posted 16 February 2022
City Education Experience Knowledge Gross salary / year
Malmö Masters Degree 2-4 Years Advanced 601,000 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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