Sweden’s industrial landscape isn't just humming along—it's powering the nation with a remarkable mix of robust manufacturing, world-class innovation, and a pioneering green energy revolution.
Key Takeaways
- Sweden's manufacturing sector accounted for 1.4% of GDP growth in 2022, driven by machinery and transport equipment
- In 2023, manufacturing output in Sweden increased by 2.1% year-over-year, with metal products leading at 4.5% growth
- Sweden's manufacturing employment stood at 533,000 persons in 2022, representing 10.2% of total employment
- Sweden's total electricity production reached 166 TWh in 2022, with hydropower contributing 41%
- Nuclear power generated 70 TWh in 2022, accounting for 42% of electricity
- Wind power capacity installed was 14 GW by end of 2023
- Sweden's forest growing stock volume was 3.9 billion cubic meters in 2023
- Annual timber harvest reached 85 million cubic meters in 2022
- Sawmill production processed 25 million cubic meters of sawnwood in 2023
- LKAB iron ore production reached 27.5 million tonnes in 2022 from Kiruna mine
- Copper production totaled 100,000 tonnes in 2023 from Boliden Aitik mine
- Gold output was 9 tonnes from Swedish mines in 2022
- Sweden's engineering industry exported SEK 500 billion in machinery in 2022
- Volvo Group produced 700,000 trucks globally from Swedish plants in 2023
- Ericsson shipped 50 million 5G base stations components in 2022
Sweden's diverse manufacturing sector grew steadily, driven by strong machinery exports and renewable energy.
Energy
- Sweden's total electricity production reached 166 TWh in 2022, with hydropower contributing 41%
- Nuclear power generated 70 TWh in 2022, accounting for 42% of electricity
- Wind power capacity installed was 14 GW by end of 2023
- Sweden's final energy consumption was 315 TWh in 2022
- District heating supplied 60 TWh, or 20% of total energy use in 2022
- Bioenergy production hit 140 TWh in 2022, mainly from forestry residues
- Oil consumption in transport sector was 80 TWh in 2022
- Solar PV capacity reached 3 GW in 2023, up 50% from 2022
- Electricity exports to Europe totaled 20 TWh in 2022
- Natural gas imports were 10 TWh in 2022, mostly for industry
- Energy efficiency improvements saved 25 TWh since 2005
- Heat pump installations numbered 1.2 million units by 2023
- Coal use dropped to 1 TWh in 2022 from phase-out policy
- Electricity price averaged 45 €/MWh in 2023
- Renewable energy share in electricity was 98% during spring 2023 peaks
- Industrial electricity use was 120 TWh in 2022, 40% of total
- Pumped hydro storage capacity 4 GW in 2023
- EV charging infrastructure powered 15 TWh equivalent in 2023
- Carbon capture utilization in industry targeted 5 MtCO2 by 2030
- Hydrogen production pilot plants produced 0.1 TWh green H2 in 2023
- Geothermal energy contributed 2 TWh heating in 2022
- Energy from waste incineration was 15 TWh in 2022
- Offshore wind potential estimated at 100 GW
- Smart grid investments SEK 10 billion in 2023
- Residential electricity consumption 50 TWh in 2022
- Transport fuel sales 90 TWh biofuels blend in 2023
- Power-to-X projects planned for 10 TWh synthetic fuels by 2040
- Electricity grid losses minimized to 4% in 2022
Energy Interpretation
Sweden’s grid is a meticulously balanced act, powered by a quiet nuclear and hydro backbone while sprinting with wind and efficiency, all to ensure its industry thrives and its neighbors stay lit, but the stubborn ghost of oil in transport still haunts an otherwise nearly spotless carbon ledger.
Engineering
- Sweden's engineering industry exported SEK 500 billion in machinery in 2022
- Volvo Group produced 700,000 trucks globally from Swedish plants in 2023
- Ericsson shipped 50 million 5G base stations components in 2022
- ABB robotics output 20,000 industrial robots from Sweden in 2023
- Scania truck production 90,000 units in Södertälje plant 2022
- Engineering sector employment 300,000 in 2023
- R&D spending in engineering 5% of turnover, SEK 100 billion in 2022
- Patent applications from engineering firms 10,000 in 2023
- Electrification projects in heavy machinery 50% by 2030 target
- Sandvik mining equipment sales SEK 100 billion in 2022
- Atlas Copco compressors produced 50,000 units in 2023
- SKF bearings output 80 million units annually from Gothenburg
- Saab aerospace delivered 20 Gripen fighters in 2022
- Hexagon metrology instruments exported SEK 20 billion in 2023
- Digital twins adoption in engineering 70% of firms in 2023
- Additive manufacturing capacity doubled to 500 tonnes printed metal 2022
- Mechatronics exports SEK 150 billion in 2023
- Automation systems installed 10,000 in industry 2022
- Engineering consultancy revenue SEK 200 billion in 2023
- Wind turbine components from Sweden 5 GW capacity supplied 2022
- Medtech engineering devices exported SEK 50 billion 2023
- AI integration in engineering products 40% market penetration 2023
Engineering Interpretation
Sweden’s industrial backbone, from mighty trucks to tiny bearings, is not merely a robust assembly line but a brilliantly orchestrated symphony of innovation, where heavy metal exports harmonize with cutting-edge R&D to quietly power a surprisingly large chunk of the world.
Forestry
- Sweden's forest growing stock volume was 3.9 billion cubic meters in 2023
- Annual timber harvest reached 85 million cubic meters in 2022
- Sawmill production processed 25 million cubic meters of sawnwood in 2023
- Pulp production totaled 11 million tonnes in 2022
- Paper and board output was 8.5 million tonnes in 2023
- Forestry employment stood at 70,000 full-time equivalents in 2022
- Export value of forest products hit SEK 150 billion in 2023
- Scots pine constituted 40% of harvested volume at 34 million m³ in 2022
- Norway spruce harvest was 45 million m³, 53% of total in 2023
- Broadleaved species harvest 6 million m³ in 2022
- Forest area covered 69% of Sweden's land, 28 million hectares in 2023
- Annual growth rate of forests 130 million m³ over bark in 2022
- Sawn softwood exports 18 million m³ in 2023
- Wood pellet production 2.5 million tonnes in 2022
- Particle board output 1.8 million m³ in 2023
- MDF production 0.7 million m³ in 2022
- Chemical pulp exports 9 million tonnes in 2023
- Mechanical pulp production 3 million tonnes in 2022
- Corrugated board production 2.5 million tonnes in 2023
- Forest certification under FSC and PEFC covered 85% of productive forests in 2022
- Reforestation planted 100 million seedlings in 2023
- Bioeconomy contribution from forests SEK 300 billion annually
- Insect damage affected 1 million m³ timber in 2022
- Carbon sequestration by forests 40 MtCO2 per year
- Tourism in forests generated SEK 20 billion in 2023
Forestry Interpretation
While Sweden’s forests quietly stockpile billions in cubic timber currency, its industry deftly cashes in a sustainable annual dividend, proving you really can have your spruce cake and export it too.
Manufacturing
- Sweden's manufacturing sector accounted for 1.4% of GDP growth in 2022, driven by machinery and transport equipment
- In 2023, manufacturing output in Sweden increased by 2.1% year-over-year, with metal products leading at 4.5% growth
- Sweden's manufacturing employment stood at 533,000 persons in 2022, representing 10.2% of total employment
- Exports from Swedish manufacturing reached SEK 1,150 billion in 2022, with 70% directed to EU markets
- The food manufacturing subsector produced 2.5 million tonnes of dairy products in 2022
- Chemical industry output in Sweden grew by 3.2% in 2023, valued at SEK 180 billion
- Sweden's machinery manufacturing sector exported SEK 250 billion worth of products in 2022
- Pharmaceutical manufacturing in Sweden generated SEK 120 billion in revenue in 2022, with AstraZeneca contributing 40%
- Metal fabrication output reached 1.2 million tonnes of steel products in 2023
- Electrical equipment manufacturing employment was 45,000 in 2022
- Sweden's manufacturing PMI averaged 52.3 in 2023, indicating expansion
- Turnover in Swedish manufacturing was SEK 2,100 billion in 2022
- Plastic products manufacturing produced 800,000 tonnes in 2022
- Furniture manufacturing exports hit SEK 25 billion in 2023
- Textile manufacturing output declined by 1.5% in 2022 to SEK 15 billion
- Printing and publishing industry revenue was SEK 40 billion in 2022
- Rubber products manufacturing grew 2.8% in output value in 2023
- Glass and ceramics production reached 150,000 tonnes in 2022
- Manufacturing energy intensity decreased by 15% from 2010 to 2022
- R&D expenditure in manufacturing was 4.2% of turnover in 2022
- Automotive parts manufacturing output was SEK 100 billion in 2022
- Electronics manufacturing exports totaled SEK 80 billion in 2023
- Beverage manufacturing produced 1.2 billion liters of beer in 2022
- Tobacco products manufacturing revenue fell to SEK 10 billion in 2022
- Leather goods production was 20,000 tonnes in 2023
- Manufacturing productivity grew 1.8% annually from 2018-2023
- Coke and refined petroleum manufacturing turnover SEK 300 billion in 2022
- Basic metals manufacturing employed 35,000 in 2022
- Computer and electronics manufacturing grew 5% in 2023
- Manufacturing value added per employee was SEK 1.2 million in 2022
Manufacturing Interpretation
Despite its small, efficient workforce, Sweden's manufacturing sector punches well above its weight, expertly turning steel, pharmaceuticals, and machinery into a robust export engine that fuels the national economy while steadily becoming cleaner and more innovative.
Mining
- LKAB iron ore production reached 27.5 million tonnes in 2022 from Kiruna mine
- Copper production totaled 100,000 tonnes in 2023 from Boliden Aitik mine
- Gold output was 9 tonnes from Swedish mines in 2022
- Zinc production hit 140,000 tonnes in 2023 at Zinkgruvan
- Mining sector GDP contribution 2.5% or SEK 120 billion in 2022
- Employment in mining 8,000 persons in 2023
- Iron ore exports valued SEK 50 billion in 2022
- Nickel production 30,000 tonnes from Talvivaara-related ops in 2023
- Silver output 400 tonnes in 2022
- Overburden removal in mining 300 million tonnes in 2023
- Rare earth elements exploration reserves 1 million tonnes potential
- Lead production 20,000 tonnes in 2022
- Mining investment SEK 15 billion in 2023
- Crushed rock production 100 million tonnes for construction in 2022
- Limestone quarrying 25 million tonnes in 2023
- Feldspar output 500,000 tonnes exported in 2022
- Uranium potential in Alum shale estimated 50,000 tonnes
- Cobalt by-product 1,000 tonnes in 2023
- Mining R&D expenditure SEK 2 billion in 2022
- Tailings volume managed 50 million tonnes in 2023
- Battery minerals production ramp-up to 10,000 tpa lithium equiv by 2025
- Graphite deposits explored 1 Mt reserves
- Phosphate rock potential 200 Mt
- Mining exports to EU 80% of total in 2022
- Water usage in mining 100 million m³ recycled in 2023
Mining Interpretation
Sweden's mines are the quiet economic titans of the north, where staggering tonnages of rock yield everything from the bedrock of civilization to the battery minerals of tomorrow, all while managing an environmental footprint with almost as much heft as the extracted ore itself.
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