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||1993 - 2015
Sweden is a major North European economy. Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labor force. In 2013, more than 123 SEK million were invested in Research and Development, which comprises a research ratio of 3.3 percent in relation to the country’s gross domestic product. As a consequence, Sweden was significantly above the EU average of 2.01 percent and was ranked second among the EU member states (surpassed by Finland). Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and growth continued downward in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove a rebound in 2010, but growth slipped in 2012, as a result of continued economic weakness in the EU. In 2014 both private and public spending rebounded, as well as fixed investment which grew the most in seven years. Household expenditure is the main component of GDP and accounts for 46 percent of its total use, followed by government consumption (26 percent) and gross fixed capital formation (23 percent). Also, external balance of exports and imports accounts for 4 percent of total GDP. This page provides - Sweden GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Sweden GDP Growth Rate - was last refreshed on Saturday, October 10, 2015.