Sweden is on a robust growth trajectory. In 2017, the country’s GDP rose by 2.4 percent to USD 510 billion. Sweden’s economy is heavily export oriented and dominated by the manufacturing industries.4 Feb 2019
Manufacturing accounts for 77 percent of Sweden’s GDP. Major industries include vehicle construction, the wood and paper industries, mechanical engineering and electrical engineering and electronics. Germany is Sweden’s largest export market, followed by Norway, Finland, the USA and Denmark.
In 2015, the Swedish government launched an export initiative that allocates SEK 800 million (around € 77 million) in funding to programs that support the internationalization of Swedish companies. The objectives of the initiative, which will run until 2019, are to increase the number of Swedish exporters and the total volume of Swedish exports as well as to promote foreign direct investment in Sweden. In addition, the initiative is designed to contribute to Sweden’s goal of having the lowest unemployment rate in the EU by 2020.
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