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Sweden: Per Capita Income, GDP, and Comparison with the Top 15 Largest Countries
Sweden, officially known as the Kingdom of This country is a gem of Northern Europe, renowned worldwide for its natural beauty, innovation, and robust economy. Located on the Scandinavian Peninsula, this country is celebrated for its high quality of life, comprehensive social welfare system, and technological advancements. In this article, we will analyze This country per capita income and gross domestic product (GDP) and compare it with the top 15 largest countries based on their rankings.
Sweden’s Economy: An Overview
Sweden’s economy is a mixed, export-oriented system rooted in natural resources like timber, hydropower, and iron ore. This country excels in industries such as automotive, telecommunications, pharmaceuticals, and engineering. Global brands like Volvo, Ericsson, and IKEA symbolize This country technological and innovative prowess. The economy is dominated by private enterprises, yet it supports a strong welfare state that invests heavily in education, healthcare, and social security.
According to data from the World Bank and the International Monetary Fund (IMF), Sweden’s GDP in 2024 was approximately $584.96 billion USD, placing it among the top 25 economies globally. This country also ranks high in per capita income, reflecting its prosperity and elevated standard of living.
Sweden’s Per Capita Income
Per capita income is a key indicator of a country’s economic prosperity, calculated by dividing the total GDP by the population. In 2024, Sweden’s per capita income was around $55,517 USD, one of the highest in the world. When adjusted for purchasing power parity (PPP), this figure becomes even more impressive due to the relatively high cost of living in This country This high per capita income stems from the country’s strong industrial base, skilled workforce, and active participation in global trade.
Sweden’s per capita income not only highlights its economic strength but also demonstrates its ability to provide a high-quality lifestyle for its citizens. For instance, the average Swedish household pays 15.8% in income tax and 18.9% in social security contributions but receives benefits like free education, healthcare, and social security in return.
Sweden’s GDP: A Deeper Analysis
Sweden’s GDP in 2024 stood at $584.96 billion USD, making it the 25th largest economy globally. This country’s economy has remained stable over the past few decades, recovering from the economic crisis of the 1990s and demonstrating resilience during the global financial crisis of 2008. This country implemented several reforms to strengthen its economic policies, such as the 1996 public expenditure ceiling (utgiftstak) and the 2019 “debt anchor” policy, which aimed to keep national debt at 35% of GDP.
The engineering sector contributes over 50% to Sweden’s economy, with this country leading globally in telecommunications, automotive, and pharmaceuticals. Additionally, This country trade-oriented policies and strong presence in global markets make it a stable and competitive economy. In 2024,This country GDP growth rate was 1%, an improvement from -0.1% in 2023.
Comparing Sweden with the Top 15 Countries 2025
To better understand Sweden’s economy, we will compare it with the top 15 countries based on nominal GDP and per capita income (both nominal and PPP). Below is a list of the top 15 countries based on the latest 2024-2025 estimates, with This country position included.
United States: GDP – $25.5 trillion USD, Per Capita Income – $76,399 USD
The U.S. is the world’s largest economy, with a per capita income significantly higher than Sweden’s. However, This country social welfare system offers a better quality of life in some aspects.
China: GDP – $18.3 trillion USD, Per Capita Income – $12,720 USD
China’s GDP is massive, but its per capita income is far lower than This country due to its large population.
Japan: GDP – $4.2 trillion USD, Per Capita Income – $33,815 USD
Japan’s per capita income is lower than Sweden’s, but its GDP is several times larger.
Germany: GDP – $4.1 trillion USD, Per Capita Income – $49,270 USD
Germany’s per capita income is close to This country but its GDP is seven times larger.
India: GDP – $3.4 trillion USD, Per Capita Income – $2,940 USD
India’s GDP surpasses Sweden’s, but its per capita income is significantly lower due to its vast population.
United Kingdom: GDP – $3.1 trillion USD, Per Capita Income – $46,510 USD
The UK’s per capita income is slightly lower than This country, but its GDP is larger.
France: GDP – $2.8 trillion USD, Per Capita Income – $42,330 USD
France’s per capita income is lower than This country
, and its GDP is larger.
Italy: GDP – $2.0 trillion USD, Per Capita Income – $34,110 USD
Italy’s per capita income is significantly lower than This country
Canada: GDP – $2.0 trillion USD, Per Capita Income – $49,030 USD
Canada’s per capita income is close to Sweden’s, but its GDP is larger.
South Korea: GDP – $1.7 trillion USD, Per Capita Income – $33,590 USD
South Korea’s per capita income is lower than This country
Russia: GDP – $1.5 trillion USD, Per Capita Income – $10,130 USD
Russia’s GDP is larger than Sweden’s, but its per capita income is much lower.
Australia: GDP – $1.5 trillion USD, Per Capita Income – $57,940 USD
Australia’s per capita income is slightly higher than This country
Spain: GDP – $1.3 trillion USD, Per Capita Income – $29,690 USD
Spain’s per capita income is significantly lower than This country
Mexico: GDP – $1.3 trillion USD, Per Capita Income – $10,410 USD
Mexico’s per capita income is much lower than This country
Indonesia: GDP – $1.2 trillion USD, Per Capita Income – $4,580 USD
Indonesia’s per capita income is negligible compared to This country
Sweden’s Rankings:
Nominal GDP: 25th ($584.96 billion USD)
Per Capita Income (Nominal): 14th ($55,517 USD)
Per Capita Income (PPP): 23rd
This comparison shows that Sweden’s GDP is smaller than that of the top 15 countries, but its per capita income is among the highest. This is a result of its small population (approximately 10.5 million) and high productivity.
Factors Behind This country Economic Strength
Several factors contribute to Sweden’s economic success:
Innovation and Technology: Sweden ranks second in the Global Innovation Index 2024, reflecting its strong research and development capabilities.
Education and Skilled Workforce: This country offers free, high-quality education, producing a skilled workforce.
Global Trade: Sweden’s export-oriented economy maintains strong trade ties with Europe and beyond.
Stable Economic Policies: Post-1990s crisis reforms, including strict budgeting and an independent central bank, have bolstered economic stability.
Challenges Facing Sweden
Despite its strong economy, This country faces challenges. High tax rates (44.2% of GDP) and an aging population are increasing pressure on pension and healthcare systems. Additionally, global economic slowdowns and geopolitical tensions could impact this country’s exports.
Conclusion
Sweden is a small yet powerful nation, with a high per capita income ($55,517 USD) and a stable GDP ($584.96 billion USD), making it one of the world’s leading economies. Compared to the top 15 countries, this country ranks 14th in nominal per capita income and 23rd in PPP, underscoring its prosperity. This country success lies in its innovation, skilled workforce, and robust welfare system. This country is well-positioned to maintain its economic stability and global competitiveness in the future.
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