Resilient economy returning to growth
AA1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in July 2023.
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GDP | USD 579.3bn (World ranking 24, World Bank 2022) |
Population | 5.5mn (World ranking 118, World Bank 2022) |
Form of state | Constitutional Monarchy |
Head of government | Jonas GAHR STORE (Prime Minister) |
Next elections | 2025, legislative |

- Full integration in the EU’s internal market and free travel zone. Member of the WTO and the OECD
- Strong business environment supported by a wide political consensus
- Second-highest per capita income in Europe after Luxembourg and fourth globally
- Highly skilled and educated workforce
- Profitable banking system and financial stability
- Robust fiscal framework and ample support by the Government Pension Fund Global

- Persistently low energy prices
- Low diversification
- Very high household debt level
- High corporate and personal tax rates
- High unit labor costs
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
United Kingdom
20.5%
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1 |
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Germany
19.1%
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2 |
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Netherlands
7.9%
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3 |
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Sweden
7.8%
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4 |
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France
7.2%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Gas, natural and manufactured
35.8%
|
1 |
12.5%
Road vehicles
|
Petroleum, petroleum products and related materials
29.6%
|
2 |
5.6%
Electrical machinery, apparatus and appliances, n.e.s.
|
Fish, crustaceans, molluscs and preparations thereof
8.3%
|
3 |
4.6%
Manufactures of metal, n.e.s.
|
Non-ferrous metals
5.1%
|
4 |
4.6%
Petroleum, petroleum products and related materials
|
Other industrial machinery and parts
1.5%
|
5 |
4.6%
Other industrial machinery and parts
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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