Tough times

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 June 2023.

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GDP
USD585.9bn (World ranking 23, World Bank 2022)
Population
10.5mn (World ranking 88, World Bank 2022)
Form of state Constitutional Monarchy
Head of government Ulf Kristersson (Prime Minister)
Next elections 2026, general elections
  • Highly skilled and educated labor force
  • High value-added manufacturing industries with one of the highest levels of R&D spending in the world
  • Very diversified export structure in terms of products
  • Sound public finances
  • Strong and effective institutions
  • Relatively low corporate tax rates compared to peers
  • High degree of openness to foreign investments
  • Excessive household debt
  • Steep rise in house prices
  • Weak governing coalition
  • Ageing population
  • High personal income tax compared to OECD
  • High unit labor costs; strongly regulated labor market

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
Norway 10.7%
1
17.0% Germany
Germany 10.3%
2
10.2% Norway
United States 8.1%
3
10.0% Netherlands
Denmark 7.7%
4
6.9% Denmark
Finland 7.1%
5
6.8% China

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Road vehicles 12.3%
1
10.2% Road vehicles
Medicinal and pharmaceutical products 5.9%
2
8.3% Petroleum, petroleum products and related materials
Other industrial machinery and parts 5.7%
3
6.6% Electrical machinery, apparatus and appliances, n.e.s.
Petroleum, petroleum products and related materials 5.3%
4
5.4% Telecommunication and sound recording apparatus
Paper and paper manufactures 5.0%
5
4.9% 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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