Constant GDP per capita for Sweden
NYGDPPCAPKDSWE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,916.03
Year-over-Year Change
12.56%
Date Range
1/1/1960 - 1/1/2024
Summary
The Constant GDP per capita for Sweden measures the total economic output of Sweden divided by its population, adjusted for inflation. This key metric provides insights into the standard of living and economic well-being of the Swedish people.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) per capita is a widely used indicator of a country's economic performance and development. It represents the total economic output divided by the total population, giving a measure of the average income or wealth of the citizens. The constant adjustment accounts for changes in the purchasing power of the currency over time.
Methodology
The data is calculated by the World Bank using national accounts and population statistics.
Historical Context
GDP per capita is a vital statistic for policymakers, economists, and investors to understand a country's economic health and growth trajectory.
Key Facts
- Sweden's constant GDP per capita was $54,516 in 2021.
- GDP per capita has grown by an average of 2.3% annually in Sweden over the past decade.
- Sweden ranks among the highest in the world for GDP per capita, indicating strong economic prosperity.
FAQs
Q: What does this economic trend measure?
A: The Constant GDP per capita for Sweden measures the total economic output of the country divided by its population, adjusted for inflation. This provides a standardized metric of the average income or wealth of Swedish citizens.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a crucial indicator of a country's economic development and standard of living. It allows for comparisons across nations and over time, informing policymakers, investors, and the public about Sweden's economic performance and progress.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data on GDP and population statistics.
Q: How is this trend used in economic policy?
A: GDP per capita is widely used by economists, policymakers, and international organizations to assess a country's economic health, forecast growth, and inform decisions on fiscal, monetary, and social policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of 1-2 years, as it relies on national accounts and population data. There may also be revisions to historical figures as methodologies are refined.
Related Trends
Leading Indicators OECD: Reference series: Gross Domestic Product (GDP): Trend for Sweden
SWELORSGPTDSTSAM
Infra-Annual Labor Statistics: Employment Female: From 55 to 64 Years for Sweden
LFEM55FESEA647N
Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Sweden
SWECP110000GPM
Business Tendency Surveys: Rate of Capacity Utilisation: Economic Activity: Manufacturing: Current for Sweden
BSCURT02SEQ160S
Total Credit to Non-Financial Corporations, Unadjusted for Breaks, for Sweden
CRDQSEANUBIS
Infra-Annual Labor Statistics: Employment Total: From 55 to 64 Years for Sweden
LFEM55TTSEA657S
Citation
U.S. Federal Reserve, Constant GDP per capita for Sweden (NYGDPPCAPKDSWE), retrieved from FRED.