Johan's Econ Blog

OECD Activity March 29, 2010

Sweden:

Real GDP:

2007: $350.7 billion                                                       

2008: $349.3 billion

2009: $333.2 billion

Real GDP per Capita:

2007: $38,800

2008: $38,600

2009: $36,800

Real GDP growth:

2007:  2.7%

2008: -0.4%

2009: -4.6%

Looking at the data above on Sweden’s economy, it is clear that they are not doing so well. This can be clearly seen because the amount of money are decreasing which is never a good thing, also the GDP growth is clearly a fall because of the negative. Sweden was doing very well up till 2007, this is seen when looking at the GDP growth which was increasing. But then the economic crisis hit, and all economies around the world decreased, including Sweden. Most Swedish people must have lost nearly $2000 in their income, which is seen by looking at the GDP per Capita. This means that some people most likely would have moved houses to a much more cheaper area, and their standard of living must have decreased.