Chamber of Commerce Country Factsheet Last update: 15.05.2017
Your advisors at the Chamber of Commerce
- Steven Koener+352423939379
- Diana Rutledge+352423939335
A military power during the 17th century, Sweden has not participated in any war for almost two centuries. An armed neutrality was preserved in both world wars. Sweden's long-successful economic formula of a capitalist system interlarded 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
Healthy output growth is set to continue, reaching 3.4% in 2016, with further expansion of employment and gradually declining unemployment. Recent wage settlements will lead to only moderate increases in household income, and private consumption will grow somewhat more slowly than output. Inflationary pressures are projected to remain subdued. Business investment will increase further, and high housing demand will continue to support residential investment.
Buoyant cyclical conditions argue for a broadly neutral fiscal stance, but monetary policy should remain expansionary until inflation is clearly moving towards target. To contain financial risks, an amortisation requirement for new mortgages will enter into force in June and the countercyclical capital buffer will be raised in 2017. Easing planning and rental regulations and phasing out mortgage interest deductibility would help contain the rise in housing demand and household debt, which may prove destabilising if unchecked.
After flatlining since 2006, productivity has picked up lately. Sweden's knowledge-based economy and highly skilled workers make for high productivity, strong integration in the high-value parts of global value chains, and inclusive growth. However, falling school results and comparatively low skills among immigrants pose challenges.
Source: OECD - Economic Forecast
|Gross domestic product, constant prices|
|Gross domestic product, current prices|
U.S. dollars (Billions)
|Gross domestic product per capita, current prices|
U.S. dollars (Units)
|Inflation, average consumer prices|
|Volume of imports of goods and services|
|Volume of exports of goods and services|
Percent of total labor force
|Current account balance|
U.S. dollars (Billions)
|Current account balance|
Percent of GDP
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 07.14.1983 (Memorial 1984, A, p. 2043)
- Effective as of 02.21.1985 (Memorial 1985, A, p. 195)
- Convention from 14.10.1996 (Memorial 1998, A, p. 30)
- Effective as of 15.03.1998 (Memorial 1998, A, p.435)
- Protocol and exchange of letters from 07.09.2010
- Law from 16.07. 2011 (Memorial 2011, A, no. 146, p. And 2024)
- Effective as of 11.09.2011 (Memorial 2011, A, no. 190,p. 3314)
Air Services agreement
- Agreement from 11.17.1952 (Memorial 1953, p. 735)
- Effective as of 07.21.1953 (Memorial 1953, p. 1079)
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:
Economic and Commercial Attaché (AWEX): Mrs. Martine LECLERCQ
101 38 Stockholm
Tel: +46 8 20 14 96
Fax: +46 8 796 97 01
Honorary Consul with jurisdiction in Stockholm : Mr Anders WALL
Consulate of Luxembourg in Stockholm
P.O. Box 7823
S-103 97 Stockholm
Tel : + 46 8701 0810 / + 46 709 540 100
Fax: + 46 8679 60 42
E-mail : email@example.com
Honorary Consul with jurisdiction in Göteborg: Mr Lars INGELMARK
Consulate of Luxembourg in Göteborg
P.O. Box 11395
S-404 28 Göteborg
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.
Other useful links
Luxembourg for Business market entry guide to Sweden: Market entry guides are brochure series published by the Ministry of the Economy and Foreign. The series focuses on worldwide markets, industries and business environments, providing comprehensive and in-depth analysis and guidelines. The brochures cover all aspects relating to a market entry including the economic, financial and legal frameworks. The brochures are a vast knowledge pool, compiled into a practice oriented document with many tips and important addresses.
- CIA World Factbook on Sweden
- Nordic countries - Belgium - Luxembourg Chamber of Commerce
- La Suède sur le site de l'Awex
- La Suède sur france monde express
- Benelux Business Club
- Doing Business in Sweden
- Das ist Schweden
- La Suède sur le site de l'AWEX
The Chamber of Commerce and the country