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Sweden
Chamber of Commerce Country Factsheet Last update: 12.07.2018

Your advisors at the Chamber of Commerce

  • Steven Koener
    +352423939379
  • Violaine Mathurin
    +352423939481
Contact us: europe@cc.lu

Key Indicators

Area
450,295 km2
Population
9,960,487 (July 2017 est.)
Government type
constitutional monarchy
Languages
Swedish (official)
GDP
$521.7 billion (2017 est.)
Growth rate
3.1% (2017 est.)
HDI
14
Capital
Stockholm

 

Introduction

A military power during the 17th century, Sweden has not participated in any war for two centuries. An armed neutrality was preserved in both world wars. Sweden's long-successful economic formula of a capitalist system intermixed with substantial welfare elements was challenged in the 1990s by high unemployment and in 2000-02 and 2009 by the global economic downturns, but fiscal discipline over the past several years has allowed the country to weather economic vagaries. Sweden joined the EU in 1995, but the public rejected the introduction of the euro in a 2003 referendum.

Source: The CIA World Factbook - Sweden

 

Macroeconomic indicators

Growth will remain strong as global demand and a weaker krona continue to boost exports. Exporting sectors will invest further to meet rising demand, but housing investment will contract against the backdrop of house price declines. The labour force will expand more slowly and unemployment will level off, as difficult-to-hire low-skilled workers make up a rising share of jobseekers. Households will remain cautious, with the saving rate staying high.

Both fiscal and monetary policies are expansionary during a strong upturn, and risk amplifying the business cycle. Expansionary monetary policy has succeeded in bringing inflation close to 2% and expectations are well-anchored. The Riksbank is projected to begin withdrawing monetary stimulus towards the end of 2018, which is needed to balance inflation risks against those of resource misallocation and financial imbalances, notably connected to property prices. Reforms aimed at improving the functioning of the housing market are also needed.

Source: OECD - Economic Forecast

IMF Statitics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
2.2674.1883.5522.6362.239
Gross domestic product, current prices
U.S. dollars (Billions)
571.101493.042517.440532.356546.394
Gross domestic product per capita, current prices
U.S. dollars (Units)
58,590.32450,049.82451,603.94452,311.40353,064.451
Inflation, average consumer prices
Percent change
0.2070.7011.0921.3751.700
Volume of imports of goods and services
Percent change
6.7905.4533.4793.5233.426
Volume of exports of goods and services
Percent change
4.5795.5971.8643.0462.749
Unemployment rate
Percent of total labor force
7.9337.4006.9086.7176.700
Current account balance
U.S. dollars (Billions)
26.51325.85726.02827.95227.660
Current account balance
Percent of GDP
4.6425.2445.0305.2515.062
Colored cells are estimates

Source: IMF Statistics - Sweden

 

Luxembourg and the country

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 14.10.1996 (Memorial 1998, A No.3, p.30)
  • Effective as of 01.01.2010 (Memorial 1998, A No.3, p.30)
  • Amendment of the Convention from 07.09.2010 (Memorial 2011, A No.146, p.2035)

Air Services agreement

  • Agreement from 11.17.1952 (Memorial 1953, p. 735)
  • Effective as of 07.21.1953 (Memorial 1953, p. 1079)

Source: Administration des contributions directes

 

Further information

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Sweden

Embassy of the Grand Duchy of Luxembourg in Sweden

Ambassador with residence in Copenhagen: Mrs Janine FINCK

05, Fridtjof Nansens Plads
DK - 2100 COPENHAGEN
Tel.: (+45) 35 26 82 00
Fax: (+45)35 26 82 08
Email: copenhague.amb(at)mae.etat.lu
Website: copenhague.mae.lu

 

Honorary Consul

Honorary Consul with jurisdiction in Stockholm: Mr Anders WALL

Mailing Address:
Beijerinvest AB
P.O. Box 7823
S-10397 Stockholm

Office Address:
Strandvägen 5A 5tr

Tél.: (+46) 8 701 08 09  
Fax: (+46) 8 679 60 42
E-mail: marie-louise.swensson(at)beijerinvest.se

Honorary Consul with jurisdiction on Västergötland and Halland: Mr Lars INGELMARK

Mailing Address: 
PO BOX 5162
SE-404 26 Göteborg

Office Address:
Södra Vägen 28
Göteborg

GSM: (+46) 727 11 10 11
E-mail: lars(at)ingelmark.com

Source: Ministry of Foreign Affairs of Luxembourg

 

Economic and Commercial Attaché (AWEX) in charge of Sweden

Economic and Commercial AttachéMrs Martine LECLERCQ                                                          
Kungsbroplan 2
BOX 1040
101 38 Stockholm
SUEDE
Tel: +46 8 20 14 96
E-mail: stockholm(at)awex-wallonia.com 

Source: AWEX

 

Country risk as defined by Office du Ducroire for Sweden

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Ducroire Office - Country Risk for Sweden

Other useful links