In 2018 Sweden was the number 22 economy in the world in terms of GDP (current US$). Sweden has achieved a high standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. Sweden has the second highest total tax revenue behind Denmark, as a share of the country’s income.
Traditionally a modern agricultural economy that employed over half the domestic workforce, today Sweden further develops engineering, mine, steel, and pulp industries that are competitive internationally, as evidenced by companies like Ericsson, ASEA/ABB, SKF, Alfa Laval, AGA, and Dyno Nobel.
In 2018 Sweden imported a total of $160B, making it the number 31st trade destination in the world.
In 2018 Sweden exported a total of $162B, making it the number 32nd exporter in the world.