Sweden Economic Indicators 2026

Executive summary

This report is the definitive English-language reference for Sweden's headline macroeconomic indicators, compiled from primary Swedish sources — Statistics Sweden (SCB) and Sveriges Riksbank — and updated as new data is released. As of May 2026, Swedish inflation measured by the CPIF, the Riksbank's target metric, stood at 1.5% year-on-year, below the central bank's 2% target and down from a cyclical peak of 3.3% in August 2025. Headline CPI inflation was 0.8%. The Riksbank held its policy rate at 1.75% (as of 2026-07-06). The real economy remains subdued: GDP contracted 0.2% quarter-on-quarter in Q1 2026 and unemployment was 8.8%. The krona traded at 11.0315 per euro and 9.63618 per US dollar. Every figure in this report carries its source and date; the full dataset is downloadable as CSV and JSON under a CC BY 4.0 licence.

Key findings

Inflation and consumer prices

Sweden measures consumer-price inflation with two headline series published monthly by Statistics Sweden. The CPI (Konsumentprisindex) is the traditional all-items index; the CPIF (CPI with a fixed interest rate) removes the direct effect of changing mortgage rates and is the metric the Riksbank targets at 2%.

As of May 2026, CPIF stood at 1.5% and CPI at 0.8%. CPIF has declined from a peak of 3.3% in August 2025 to a trough of 0.8% in April 2026 over the past year, confirming that the 2022–2023 inflation shock has substantially unwound. The divergence between CPI and CPIF over the cycle is driven mainly by mortgage-interest costs, which flow into CPI but not CPIF.

Monetary policy and the Riksbank

Sveriges Riksbank, the world's oldest central bank, sets the policy rate (styrränta) to keep CPIF inflation at 2%. The rate is currently 1.75% (as of 2026-07-06).

With CPIF at 1.5% — below target — and a weak real economy, the policy stance balances domestic disinflation against a soft krona that raises import prices. The Riksbank publishes a rate path and meets several times a year; markets watch the krona and services inflation for the timing of any moves.

Economic growth (GDP)

Swedish GDP contracted 0.2% quarter-on-quarter (seasonally adjusted) in Q1 2026, according to the national accounts. Over the past eight quarters growth has ranged from -1.3% to 3%.

Sweden is a small, open, export-oriented economy: goods and services exports are equivalent to roughly half of GDP, so external demand and the krona matter greatly. The near-term recovery is expected to be led by domestic demand as real incomes recover and borrowing costs ease.

Labour market

The unemployment rate (ages 15–74, seasonally adjusted) was 8.8% in May 2026. The employment rate was 69.5% and the labour-force participation rate 76.2% — both among the highest in the OECD.

Youth unemployment (15–24) was 28%, structurally elevated because the internationally comparable ILO definition counts full-time students who seek work. Sweden's high headline rate therefore overstates labour-market slack relative to countries with lower participation.

Housing market and mortgages

Prices for one- and two-dwelling buildings rose 4.2% year-on-year as of maj 2026, with a national mean transaction price of 4029 thousand SEK. The average rate on new mortgages was 2.91%.

Housing is central to Swedish monetary transmission: household debt is high and a large share of mortgages are floating-rate, so rate changes pass through to disposable income quickly. This is a key reason Swedish consumption is unusually rate-sensitive.

Foreign trade

Sweden recorded a goods-trade balance of 2.9 billion SEK in maj 2026, with exports of 180.8 bn (up 9% YoY) and imports of 177.9 bn (up 7.2%). The trailing 12-month surplus was 28.2 bn SEK.

Key exports include machinery, vehicles, pharmaceuticals, forest products and iron ore. Germany, Norway, the United States and the Nordic neighbours are the largest partners. The persistent surplus underpins the current account and reflects Sweden's specialisation in high-value manufacturing.

Financial markets — Nasdaq Stockholm

Affärslivet tracks live prices for 368 companies on Nasdaq Stockholm and First North. On the latest trading day, 124 advanced and 233 declined, with a median daily move of -0.62% — a breadth measure of Swedish equities.

The Stockholm exchange is home to global names such as Volvo, Atlas Copco, Ericsson, Investor, SEB, Sandvik and Spotify. Sweden has one of the deepest equity-ownership cultures in Europe, with a large retail investor base via tax-advantaged investment savings accounts (ISK).

The Swedish krona (SEK)

The krona traded at 11.0315 per euro and 9.63618 per US dollar (Riksbank reference rate, 2026-07-03). Sweden retains its own floating currency and has not adopted the euro.

A structurally soft krona over recent years has raised import prices and complicated the Riksbank's inflation fight. Because Sweden is a small open economy, the exchange rate is one of the most important channels through which global conditions reach domestic prices.

Wages and salaries

The median full-time monthly salary in Sweden was 38300 SEK in 2025, with a mean of 42900 SEK. The distribution is compressed by international standards: the 10th percentile earned 28000 SEK and the 90th 61700 SEK.

Median pay was 39900 SEK for men and 36800 SEK for women — an unadjusted gap of 7.8%. Swedish wages are set largely through collective agreements rather than a statutory minimum wage, which produces both the compression and the resilience of the wage structure.

Taxation

Sweden's corporate income tax rate is 20.6%. The standard VAT (moms) rate is 25%, with reduced rates of 12% (food, hospitality) and 6% (transport, books, culture). Capital gains for individuals are generally taxed at 30%.

A distinctive feature is the Investeringssparkonto (ISK), a savings account taxed on a flat notional yield rather than realised gains — a major reason for Sweden's broad retail equity ownership. Personal income tax is levied at municipal and (above a threshold) state level, and total tax revenue as a share of GDP is among the highest in the OECD.

Regional house prices

House prices vary sharply across Sweden's metropolitan areas. As of maj 2026, the mean transaction price for one- and two-dwelling buildings was highest in Greater Stockholm and lowest in the national aggregate outside the big three metros.

Sweden vs the euro area

Sweden sits outside the euro but inside the EU single market, so cross-country comparison uses the EU-harmonised HICP for inflation. On that basis Sweden's inflation was 1.1% in May 2026 — the lowest in the EU — versus a euro-area average of 3.2%.

The Riksbank's 1.75% policy rate is below the ECB's 2.25% deposit rate, reflecting Sweden's faster disinflation. Headline unemployment is higher in Sweden (8.8%) than the euro area (6.2%), but that gap is largely definitional rather than a sign of a weaker jobs market.

Scoreboard (machine-readable data)

Every headline indicator with its value, period, source and confidence. Free to reuse under CC BY 4.0.

↓ CSV · ↓ JSON

Methodology & verification

This report is compiled deterministically from primary Swedish sources. Prices (CPI, CPIF), national accounts (GDP), the Labour Force Survey (unemployment, employment, participation), foreign trade and house prices are sourced from Statistics Sweden (SCB). The policy rate and krona exchange rates are sourced from Sveriges Riksbank. Equity-market breadth is computed from delayed prices for companies listed on Nasdaq Stockholm and First North. Every figure carries its source and reference period. No value is estimated or hand-entered; the report regenerates automatically when the underlying data is refreshed. Percentages are year-on-year unless marked QoQ. Confidence is High for official statistics and Medium-High for market-derived aggregates.

Data dictionary

Frequently asked questions

Glossary

CPI (Konsumentprisindex)

Sweden's headline consumer price index, measuring the average change in prices paid by households for goods and services. ↗

CPIF

Consumer Price Index with a fixed interest rate — CPI excluding the direct effect of changed mortgage rates. The Riksbank's 2% inflation target is defined on CPIF. ↗

Policy rate (styrränta)

The interest rate set by Sveriges Riksbank that steers short-term money-market rates and, through them, borrowing and saving across the economy. ↗

Riksbank

Sveriges Riksbank, Sweden's central bank and the world's oldest, responsible for monetary policy and price stability. ↗

GDP (BNP)

Gross Domestic Product — the total value of goods and services produced in Sweden; reported quarterly by SCB, seasonally adjusted. ↗

Unemployment rate

Share of the labour force aged 15–74 that is unemployed and actively seeking work, measured by the Labour Force Survey (AKU) on the ILO definition. ↗

Employment rate

Share of the population aged 15–74 that is employed. ↗

Labour-force participation rate

Share of the population aged 15–74 that is either employed or actively seeking work. ↗

Krona (SEK)

The Swedish krona, Sweden's floating national currency. Sweden has not adopted the euro. ↗

SCB (Statistics Sweden)

Statistiska centralbyrån, Sweden's national statistical authority and the primary source for prices, national accounts, labour and trade data. ↗

ISK (Investeringssparkonto)

A tax-advantaged Swedish investment savings account taxed on a flat notional yield rather than realised gains, underpinning broad retail equity ownership. ↗

Nasdaq Stockholm

Sweden's main stock exchange, part of Nasdaq Nordic; First North is its growth-market segment. ↗

Trade balance

The value of goods exports minus goods imports over a period; a surplus means exports exceed imports. ↗

Floating-rate mortgage (rörlig ränta)

A mortgage whose interest resets frequently (typically every three months), making household costs sensitive to the policy rate. ↗

Corporate income tax

Tax on company profits, levied in Sweden at 20.6%. ↗

VAT (moms)

Value-added tax on goods and services; Sweden's standard rate is 25%, with reduced rates of 12% and 6%. ↗

Capital gains tax

Tax on realised investment gains, generally 30% for individuals in Sweden (ISK accounts are taxed differently). ↗

Skatteverket

The Swedish Tax Agency, responsible for taxation and the population register. ↗

Median salary

The mid-point of the full-time monthly salary distribution — half of employees earn more, half less. ↗

Gender pay gap

The difference between men's and women's pay, here shown unadjusted (raw medians) rather than controlled for occupation or hours. ↗

Seasonally adjusted

A statistical adjustment that removes recurring within-year patterns so that consecutive periods can be compared directly. ↗

Year-on-year (YoY)

A comparison with the same period twelve months earlier, used for inflation, trade and house-price growth. ↗

Quarter-on-quarter (QoQ)

A comparison with the immediately preceding quarter, used for seasonally adjusted GDP growth. ↗

First North

Nasdaq First North Growth Market, the segment of the Stockholm exchange for smaller and growth companies. ↗

Purchase-price coefficient (K/T-tal)

The ratio of purchase price to assessed tax value for property, an SCB indicator of housing-market pressure. ↗

Current account

The broadest measure of a country's trade with the world, including goods, services, income and transfers; Sweden typically runs a surplus. ↗

Sources

• Statistics Sweden (SCB) — CPI/CPIF
• Statistics Sweden (SCB) — National Accounts (GDP)
• Statistics Sweden (SCB) — Labour Force Survey
• Statistics Sweden (SCB) — Foreign Trade
• Statistics Sweden (SCB) — House Prices
• Statistics Sweden (SCB) — Mortgage & Deposit Rates
• Sveriges Riksbank — Policy Rate & Exchange Rates
• Statistics Sweden (SCB) — Wages & Salaries
• Skatteverket (Swedish Tax Agency) — in English
• Eurostat — Euro-area inflation (HICP)
• Eurostat — Euro-area unemployment
• European Central Bank — Key interest rates
• OECD — Sweden economic data
• IMF — Sweden country data

Related reports & data

• Nordic Economies Compared
• Richest Countries in the World
• Largest Economies in the World
• Inflation Rate by Country
• Unemployment Rate by Country