Resilient economy returning to growth

AA1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • 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%
1
13.2% China
Germany 19.1%
2
11.3% Sweden
Netherlands 7.9%
3
11.1% Germany
Sweden 7.8%
4
6.3% United States
France 7.2%
5
4.6% United Kingdom

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
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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