Sweden is considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, Sweden is able to provide its citizens with social services such as public education, health care and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Every year, Sweden exports about US$181.5 billion and imports about US$158 billion. 6.5% of the country's population is unemployed. The total number of unemployed in Sweden is 648,876. In Sweden, 14% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Sweden is low, indicating a stable economy. Investors should consider Sweden a safe place to invest and do other financial ventures. Government spending on education is 6.6% of GDP. The country's Gini index is 24.9. Sweden experiences a high level of equality. The income differences between citizens are only slightly significant. Sweden has a Human Development Index (HDI) of 0.898. Sweden has a very high HDI value. This suggests that almost all citizens are able to live a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to rise in society. The Global Peace Index (GPI) for Sweden is 1.36. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Sweden is very safe in international comparison. The strength of the rights index for Sweden is 6. Overall, it is considered to be quite adequate – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; Credit reports are usually sufficient and generally available.
Currency
The currency of Sweden is Swedish krona. The plural form of the word Swedish krona is kronor. The symbol used for this currency is kr, and it is abbreviated as SEK. The Swedish krona is divided into Ore; there are 100 in one krona.
Credit rating
The depth of credit information index for Sweden is 5, which means that information is usually sufficient and quite accessible, although occasionally some necessary details may be lacking. According to the SP credit-rating agency, Sweden has a credit rating score of AAA, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Sweden has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Sweden has a credit rating score of Aaa, and the prospects of this rating are stable.
Central bank
In Sweden, the institution that manages the state's currency, money supply, and interest rates is called Bank of Sweden. Locally, the central bank of Sweden is called Sveriges Riksbank. The average deposit interest rate offered by local banks in Sweden is 0.79%.
Public debt
Sweden has a government debt of 38.6% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information
The corporate tax in Sweden is set at 22%. Personal income tax ranges from 31% to 59.7%, depending on your specific situation and income level. VAT in Sweden is 25%.
Finances
The total Gross Domestic Product (GDP) valued as Purchasing Power Parity (PPP) in Sweden is US$450517 billion. The gross domestic product (GDP) per capita in Sweden, calculated as purchasing power parity (PPP), was last at 45 million dollars. PPPs in Sweden are considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Sweden is 579,680 billion. Based on this statistic, Sweden is considered as a large economy. Countries with large economies support a variety of industries and businesses and offer numerous opportunities for investment. Large economies support a significant financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good investment opportunities in Sweden. The gross domestic product (GDP) per capita in Sweden was last at 58 million dollars. The average citizen in Sweden has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as citizens find it difficult to obtain the training required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in Sweden averaged 2.1% in 2014. According to this percentage, Sweden is currently experiencing modest growth.
