Global GDP Growth: Overview
Real GDP refers to base year prices, which include inflation. Changes in real GDP indicate the increase or decrease in the volume of economic activity and measure economic growth. The US, China, Japan, Germany, and India are the leading economies around the world in terms of real GDP. In 2021, China had the most significant real GDP with a value of $12.7 trillion, after the US. Japan ranked third globally in real GDP during the same period with $6 trillion. The other two leading economies are Germany and India, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Sweden Exports: Overview
Nuclear reactors, boilers, machinery, and mechanical appliances accounted for 14.2% of overall exports. In 2021, the total value of export of nuclear reactors, boilers, machinery, and mechanical appliances stood at $27 billion as compared to $23.2 billion in the previous year. Vehicles other than railway or tramway rolling stock (12.3%) and electrical machinery and equipment and parts thereof (9.1%) were the second and third highest exported commodities by Sweden in 2021.
Overall, commodity exports increased by 22.5% in 2021, following a decrease of 3.5% in the previous year. The increase in the value of exports was broad-based as all major commodities experienced a rise in total export value in 2021.
Germany, Norway, and Denmark were Sweden’s top three trading partners in 2021, accounting for 31.4% of total trade (exports and imports).
Sweden was one of the leading exporters of nuclear reactors, boilers, machinery, and mechanical appliances, with a 1.1% share of the world’s total exports in 2020.
Sweden Exports as a % of GDP
Exports as a % of GDP of Sweden was 36.3% in 2021, while Sweden’s exports as a % of GDP decreased by 11.2% year on year basis in 2021. Between 2010-2021, the exports as a % of GDP in Sweden decreased by 15.2%. The exports as a % of GDP were highest in the year 2019 at 44.6%, and lowest in the year 2021 at 36.2%.
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