Sweden profile

Demography and Health

Sweden’s population in 2024 stands at about 10.57 million, placing it mid-high among European nations in total size. The country experiences ongoing demographic aging, reflected in its long life expectancy of 83.3 years at birth (2023) and a relatively low crude birth rate of 9.5 births per 1,000 people, paired with a crude death rate of 9.0 per 1,000. Net migration is positive and substantial, at roughly 50,115 people in 2024, helping offset natural population aging and contributing to labor supply and demographic balance. The unemployment rate sits at 7.61% (2023), signaling some ring-fence challenges in the labor market even within a high-income, welfare-oriented economy. Child health indicators are favorable, with a low under-5 mortality rate of 2.5 per 1,000 live births, underscoring strong health services and preventive care. Sweden also reports a relatively high suicide mortality rate of 13.8 per 100,000 (2021), a complex public-health issue that many high-income countries face, necessitating ongoing mental-health policy attention. Public health expenditure is high, at 10.9% of GDP (2023), with per-capita health expenditure at purchasing-power parity of about 6,178 USD (2022). The country also exhibits very high digital connectivity, with 95.7% of the population using the Internet in 2023, supporting telemedicine, information access, and health campaigns. While poverty at national poverty lines is 16.1% (2022), and undernourishment affects 2.5% of the population (2022), Sweden’s health and social systems provide broad coverage and resilience, even as policymakers navigate aging, migration, and inequality dynamics.

Economy

Sweden shows a high-income, diversified economy with strong productivity and a notable emphasis on knowledge-intensive activities. GDP per capita is 57,723 current US$ in 2024, with a GDP per capita at purchasing power parity of 71,030 international dollars, signaling substantial living standards and competitiveness. The economy is open and trade-dependent: exports of goods and services account for 54.6% of GDP in 2024, while imports total 50.2% of GDP, reflecting integrated global supply chains and a comparative advantage in sophisticated manufacturing and services. Inflation remained moderate at 2.84% in 2024, indicating price stability conducive to investment and planning. The country conducts a healthy external position, with current account balance at 7.42% of GDP in 2024 and a positive net capital inflow from foreign direct investment at 4.37% of GDP in 2024. Innovation and R&D are central to growth, with R&D expenditure at 3.41% of GDP in 2022—the fourth-highest share among established economies—supporting productivity, high-tech sectors, and a strong export base. Sweden’s economy benefits from a highly skilled workforce, robust health and education systems, and persistent investments in research, development, and technology.

Trade and Investment

Sweden operates as a highly open, trade-oriented economy with a mature international investment footprint. Exports of goods and services amount to 54.6% of GDP (2024), while imports represent 50.2% of GDP, underscoring a well-integrated, efficient market with broad specialization in high-value sectors. The country is distinguished by substantial high-technology exports, totaling about 25.15 billion USD (2023), which reflects strong capacities in advanced manufacturing, information technology, and biotech. Domestic innovation is reinforced by 1,771 patent applications by residents in 2021, indicating an ongoing pipeline of inventive activity. Net foreign direct investment inflows reach 4.37% of GDP (2024), supporting capital formation, technology transfer, and global integration. Sweden’s logistics infrastructure earns a high mark with a Logistics Performance Index of 4.2 (2022) and a rank near the top globally (4), signaling efficient trade and transport networks that facilitate import-export activities. These factors collectively imply a resilient, innovation-driven economy with strong external accounts and substantial capacity to compete in global markets.

Governance and Institutions

Sweden exhibits robust governance indicators and institutional strength. Political stability and absence of violence/terrorism denote a stable environment (0.758 in 2023, rank 47), while regulatory quality is high at 1.72 (2023, rank 11), and the rule of law scores 1.6 (2023, rank 14). Control of corruption is strong at 2.03 (2023, rank 6), and government effectiveness stands at 1.6 (2023, rank 12), all signaling effective, transparent, and predictable governance conducive to business and civil society. The combination of political stability, governance quality, and low perceived corruption supports long-term policymaking, contract enforcement, and a favorable investment climate. The military expenditure is modest relative to GDP (about 8.75 billion USD in 2023), suggesting a security posture well aligned with the country’s social and economic priorities. Together, these indicators describe a country with mature, transparent institutions, strong rule of law, and a favorable environment for both domestic development and international collaboration.

Infrastructure and Technology

Sweden demonstrates advanced infrastructure and technological capabilities that underpin its economic performance. The country scores highly on logistics and connectivity: the Logistics Performance Index stands at 4.2 (2022) with a global rank around 4, indicating excellent trade-related infrastructure and processes. Internet adoption is exceptionally high, with 95.7% of the population online in 2023, enabling digital services, e-commerce, and telecommunication-driven productivity gains. The national innovation system is strong, evidenced by R&D expenditure at 3.41% of GDP (2022) and 1,771 patent applications by residents in 2021, pointing to a robust pipeline of new technologies and inventive activity. Sweden also exports a substantial share of high-technology goods (high-technology exports valued at about 25.15 billion USD in 2023). Renewable energy use is high, with renewables accounting for 57.9% of total final energy consumption (2021), reflecting a transition to low-carbon energy sources that supports sustainability goals and energy security. The healthcare system benefits from a well-developed domestic health expenditure framework and substantial public investment in health per capita, further illustrating the country’s capacity to fund and deploy advanced technologies in public services.

Environment and Sustainability

Sweden positions itself as a leader in sustainability and energy transition, underpinned by a relatively high share of renewable energy in final energy consumption (57.9%, 2021). Total greenhouse gas emissions exclude land use, land-use change, and forestry (LULUCF) per capita stand at 4.66 t CO2e, indicating a comparatively low emissions intensity per person for an economy of its size, though absolute reductions remain an ongoing policy objective given population size and growth. Water resource management shows a level of stress measured as freshwater withdrawal of 3.58% of available resources (2021), with a high country rank (136) in the dataset, suggesting Sweden manages water resources efficiently relative to many peers but still faces pressures consistent with climate variability and sectoral demands. The country’s environmental governance is reinforced by high governance indicators (regulatory quality, control of corruption, and environmental policy coherence), while strong public health and social systems support resilience to climate-related health outcomes. The energy transition is complemented by a well-funded health system, a high standard of living, and a culture of environmental stewardship that aligns economic activity with ecological sustainability. Overall, Sweden’s environmental indicators reflect a proactive stance toward decarbonization, resource stewardship, and sustainable growth, balanced with social protections and innovation-driven economic activity.