Macro Maps

Sweden economy at a glance

Latest figures for Sweden: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated . Open Sweden on the interactive map →

Key figures

IndicatorLatestPeriodPrevious
Inflation (consumer prices, year on year)0.9%October 20261.1% September 2026
Core inflation (excluding food and energy)0.1%October 20260.5% September 2026
Real GDP growth (year on year)2.8%Q3 20263.2% Q2 2026
Policy rate (Sveriges Riksbank)2.00%November 20261.75% October 2026
Unemployment rate8.6%September 20268.9% August 2026
10-year government bond yield3.19%September 20263.02% August 2026
Manufacturing PMI (Silf/Swedbank Manufacturing PMI)60.5October 202658.5 September 2026
Stock market (OMX Stockholm 30 (OMXS30))3,301November 2026+18.4% over 12 months

Questions and answers

What is the inflation rate in Sweden?

Sweden's annual inflation rate was 0.9% in October 2026, down from 1.1% in September 2026.

What is the interest rate in Sweden?

The Sveriges Riksbank policy rate is 2.00% (as of November 2026). The next rate decision is due on 16 December 2026.

How fast is Sweden's economy growing?

Sweden's real GDP grew 2.8% year on year in Q3 2026. The IMF's October 2026 World Economic Outlook forecasts growth of 2.5% in 2026 and 2.2% in 2027.

What is the unemployment rate in Sweden?

Sweden's unemployment rate was 8.6% in September 2026, down from 8.9% in August 2026.

What is Sweden's 10-year government bond yield?

Sweden's 10-year government bond yield averaged 3.19% in September 2026.

How much government debt does Sweden have?

Sweden's government debt is about 35.1% of GDP (latest annual figure), with a budget deficit of 1.3% of GDP.

What is Sweden's credit rating?

Sweden's sovereign credit ratings: S&P AAA, Moody's Aaa, Fitch AAA.

What is the VAT rate in Sweden?

Sweden's standard VAT rate is 25% (2026 rules).

What is the corporate tax rate in Sweden?

Sweden's corporate income tax rate is 20.6% (2026 rules).

Who leads Sweden?

Sweden is led by Ulf Kristersson (Moderates), caretaker Prime Minister since resigning on 17 Sep 2026; head of state King Carl XVI Gustaf. Next election: No new government yet. Two of the four permitted Riksdag prime-ministerial votes have failed (15 Oct and 3 Nov 2026); if four fail, a snap election is required. The next regular general election is due in September 2030.

Outlook

The Riksbank (24 Sep 2026) expects to start raising rates later in 2026 and to lift them more than it planned in June, because energy-driven inflation is rebounding (CPIF 1.5% in September) while growth is firm (Q2 GDP +2.8% y/y; NIER sentiment at its strongest in years). Upside comes from strong industrial orders and household confidence at its highest since 2021. Downside risks are a prolonged government-formation deadlock that delays the 2027 budget, unemployment stuck near 8.5–9% (trend), and a further energy-price shock from the Gulf hurting real incomes.

Why Sweden matters for the world economy

Sweden is a small, very open economy whose influence runs through European industrial supply chains (trucks, telecom equipment, bearings, steel, forest products and defence equipment) and through Nordic–Baltic finance. Swedish banks are major lenders in Finland, Norway, Denmark and the Baltics, so Swedish housing and credit conditions spread across the region. Germany, Norway, the US, Denmark and Finland take the largest shares of its exports, so strong Swedish manufacturing (PMI near 58 in September) both reflects and supports the European factory upswing. The krona is a high-beta European currency, and a Riksbank pivot toward hikes alongside the ECB would add to tighter financial conditions in the region.

Politics

The 13 September 2026 election gave the centre-left opposition (Social Democrats, Left, Greens, Centre) 176 of 349 seats against 173 for the Tidö bloc. The Social Democrats won 99 seats, the Moderates 70 and the Sweden Democrats 62. Kristersson resigned and now leads a caretaker government. The Riksdag has rejected two candidates for prime minister: Magdalena Andersson on 15 October (99 for, 248 against) and Centre leader Elisabeth Thand Ringqvist on 3 November, after she had found no support for a centrist government. The Speaker has now given Kristersson until 10 November to explore whether a government the Riksdag would tolerate is possible. The caretaker government will present a transitional budget on 12 November; meanwhile public finances are strong (debt around 35% of GDP).

System: Unitary parliamentary constitutional monarchy.

Economy and taxes

GDP
US$669 billion
Population
10.6 million
Government debt
35.1% of GDP
Budget balance
−1.3% of GDP
Current account
6.8% of GDP
Exports
53.2% of GDP
Main exports
Machinery and vehicles, electrical and telecom equipment, pharmaceuticals, paper and pulp, iron and steel, wood products
Top export markets
Germany (10.0%), Norway (9.8%), United States (8.2%), Denmark (6.9%), Finland (6.6%)
IMF growth forecast
2.5% in 2026, 2.2% in 2027
IMF inflation forecast
1.1% in 2026, 1.9% in 2027
Currency
SEK
Freelancer tax
A self-employed person earning the average wage (SEK 514,800 a year) pays about 36.0% of it in income tax and social contributions (2026 rules)
Top income tax rate
52.4%
Gold reserves
125.7 tonnes (September 2026)
Energy self-sufficiency
66% (2024)

Recent news

Headlines and summaries are compiled daily from the linked reports with AI assistance.

Sources