As the global automotive race accelerates toward an electric and autonomous future, Sweden isn't just keeping pace—it's producing the advanced batteries, innovative vehicles, and green steel that will power it, all while its sustainably-managed forests and world-leading ICT sector lay the critical digital and bio-based groundwork for a resilient, world-class industrial ecosystem.
Key Takeaways
- In 2022, the Swedish automotive industry produced 456,700 passenger cars and light commercial vehicles, marking a 5.2% increase from 2021
- Sweden's automotive sector exported vehicles worth SEK 277 billion in 2022, accounting for 22% of total Swedish merchandise exports
- Volvo Cars delivered 620,519 vehicles globally in 2022, with 85% produced in Sweden contributing to industry output
- In 2022, Sweden's forest industry harvested 84.3 million cubic meters of wood, up 2% from 2021
- The forestry sector contributed SEK 122 billion to GDP in 2021, 3.5% of total
- Sweden exported forest products worth SEK 145 billion in 2022, 15% of total exports
- In 2022, SSAB produced 7.8 million tonnes of steel, with 60% from Swedish mills
- Swedish steel exports totaled 7.2 million tonnes in 2022, SEK 110 billion value
- The metals industry employed 32,000 in 2022, 4% growth from 2021
- In 2022, Ericsson reported SEK 231 billion in revenue, 45% from Sweden-based R&D
- Swedish ICT industry employed 200,000, with 120,000 in telecom manufacturing
- 5G base stations produced in Sweden: 50,000 units exported in 2022
- Sweden's wind power capacity reached 16 GW in 2022, 20% industrial use
- Total energy production 160 TWh renewables in 2022, hydro 40%
- Vattenfall generated 90 TWh electricity in Sweden 2022
Sweden's industrial base grew strongly, particularly in automotive, forestry, and advanced technology.
Automotive
- In 2022, the Swedish automotive industry produced 456,700 passenger cars and light commercial vehicles, marking a 5.2% increase from 2021
- Sweden's automotive sector exported vehicles worth SEK 277 billion in 2022, accounting for 22% of total Swedish merchandise exports
- Volvo Cars delivered 620,519 vehicles globally in 2022, with 85% produced in Sweden contributing to industry output
- Scania Group manufactured 88,200 trucks and buses in Sweden in 2022, with a 12% rise in electric vehicle production
- The Swedish engineering industry employed 310,000 people in 2022, with automotive subsector at 75,000 jobs
- R&D expenditure in Swedish automotive reached SEK 45 billion in 2021, 4.2% of global turnover
- Sweden's automotive battery production capacity expanded to 20 GWh annually by 2023 via Northvolt partnership
- In 2023, electric vehicles comprised 54% of new car registrations in Sweden, boosting industry transition
- Swedish truck manufacturing output was 35,400 units in 2022, led by Volvo Trucks with 24,000
- Automotive parts exports from Sweden totaled SEK 120 billion in 2022, 60% to EU markets
- Employment in automotive manufacturing grew by 2.5% to 52,000 in 2022
- Sweden invested SEK 10 billion in automotive digitalization in 2022
- Volvo Group's Swedish plants achieved 98.5% capacity utilization in heavy trucks in 2022
- The sector's value added was SEK 150 billion in 2021, 10% of manufacturing total
- Sweden ranks 3rd in Europe for vehicle R&D intensity at 5.1% of sales
- In 2022, 72% of Swedish automotive exports went to EU countries
- Northvolt Ett factory in Skellefteå produced 1 GWh of batteries in initial 2022 ramp-up
- Swedish automotive industry's CO2 emissions reduced by 25% from 2015 to 2022
- 15,000 apprentices trained in automotive engineering in Sweden in 2022
- Sweden's machinery exports, including automotive components, hit SEK 180 billion in 2022
- Volvo Cars' Ghent plant sourced 40% components from Sweden in 2022
- The industry's productivity grew 3.8% YoY in 2022
- Sweden hosted 250 automotive suppliers employing 100,000 in 2022
- Electric driveline production in Sweden reached 10,000 units in 2022
- Automotive sector GDP contribution was 3.2% in 2022
- Sweden exported 420,000 vehicles in 2022, 92% of production
- R&D tax incentives supported SEK 5 billion automotive investments in 2022
- Female employment in automotive rose to 25% in 2022 from 20% in 2018
- Sweden's autonomous vehicle testing kilometers reached 500,000 in 2022
- Automotive recycling rate for end-of-life vehicles was 95% in 2022
Automotive Interpretation
Sweden is quietly building an automotive powerhouse, proving you can teach an old industrial nation new electric tricks while driving exports, cutting emissions, and ensuring nearly every car it builds is destined for foreign roads.
Energy
- Sweden's wind power capacity reached 16 GW in 2022, 20% industrial use
- Total energy production 160 TWh renewables in 2022, hydro 40%
- Vattenfall generated 90 TWh electricity in Sweden 2022
- District heating covers 60% of Swedish homes, bio-fuel 40% in 2022
- Industrial electricity price averaged 0.8 SEK/kWh in 2022
- Biofuel production 20 TWh equivalent in 2022
- Sweden's nuclear power 30 TWh, 30% of electricity in 2022
- Energy efficiency in industry improved 1.5% to 0.35 toe/SEK million VA 2022
- Offshore wind tenders awarded 18 GW potential in 2022
- Heat pump installations 100,000 units in industry 2022
- Energy sector employment 50,000 in 2022
- R&D energy investments SEK 8 billion public in 2022
- Carbon capture pilots captured 10,000 tonnes CO2 in industry 2022
- Electrification of industry: 15% increase to 50 TWh in 2022
- Green hydrogen production pilots 1 MW capacity in 2022
- Energy exports net 20 TWh electricity in 2022
- Solar PV capacity 3 GW cumulative in 2022, industrial 30%
- Biomass power plants 150 operational, 10 TWh output 2022
- Grid losses reduced to 4.2% of production in 2022
- Energy taxes on industry SEK 15 billion collected 2022
- 100% renewable electricity goal met in industry hour 2022
- Fortum Sweden produced 25 TWh hydro in 2022
Energy Interpretation
Sweden is industriously and ingeniously powering its future, with wind turbines spinning like enthusiastic fans at a renewable energy concert, hydro plants providing the steady bassline, and industry itself becoming a lean, green, electrified machine—all while keeping homes toasty with the literal warmth of recycled forests.
Forestry
- In 2022, Sweden's forest industry harvested 84.3 million cubic meters of wood, up 2% from 2021
- The forestry sector contributed SEK 122 billion to GDP in 2021, 3.5% of total
- Sweden exported forest products worth SEK 145 billion in 2022, 15% of total exports
- Pulp production reached 12.1 million tonnes in 2022, with 70% exported
- Sawmill output was 18.5 million cubic meters of sawn wood in 2022
- The industry employed 75,000 people directly in 2022
- Sweden's forest cover is 69% of land area, 28 million hectares managed sustainably
- Paper and board production totaled 3.2 million tonnes in 2022, down 1.5%
- Bioenergy from forestry supplied 40% of Sweden's renewable energy in 2022
- R&D in forestry bioeconomy invested SEK 1.2 billion in 2022
- Export of sawn softwood was 12.8 million cubic meters in 2022 to UK and China
- Forestry machinery exports reached SEK 4.5 billion in 2022
- 98% of Swedish forests are certified sustainable (FSC/PEFC) in 2023
- Wood pellet production was 1.8 million tonnes in 2022
- The sector's value added grew 4% to SEK 130 billion in 2022
- Employment in sawmills was 15,000 in 2022, with 10% women
- Sweden recycled 88% of paper products in 2022
- Forest growth exceeded harvest by 20 million cubic meters annually in 2022
- Bio-based chemicals from forestry output 500,000 tonnes in 2022
- Stora Enso's Swedish mills produced 4.5 million tonnes of pulp in 2022
- Holmen AB harvested 7.2 million cubic meters in 2022
- Forestry export to China was SEK 25 billion in 2022
- Digitalization investments in forestry SEK 800 million in 2022
- CO2 sequestration by Swedish forests: 40 million tonnes annually in 2022
- 5,000 forestry startups supported in 2022
- Sawn wood price index rose 15% to SEK 4,200 per cubic meter in 2022
- Pulp exports 9.5 million tonnes, 75% to Europe in 2022
- Forestry contributes SEK 20 billion in taxes annually
Forestry Interpretation
While the Swedish forest industry quietly fuels both the nation's coffers and the global economy—churning out everything from the paper in your office to the pellets in your stove—it does so with an almost smugly sustainable conscience, proving that you can indeed have your timber cake and eat it too, all while the trees themselves keep growing faster than we can responsibly cut them down.
ICT
- In 2022, Ericsson reported SEK 231 billion in revenue, 45% from Sweden-based R&D
- Swedish ICT industry employed 200,000, with 120,000 in telecom manufacturing
- 5G base stations produced in Sweden: 50,000 units exported in 2022
- R&D expenditure in ICT reached SEK 60 billion in 2022, 12% of turnover
- Sweden's software exports SEK 90 billion in 2022
- Ericsson's Kiruna data center capacity 1.2 GW renewable-powered in 2022
- ICT sector value added SEK 250 billion, 7% GDP in 2022
- 99.9% fiber broadband coverage in Sweden 2022
- Semiconductor production value SEK 15 billion from Swedish fabs in 2022
- 4,500 ICT startups raised SEK 20 billion VC in 2022
- Mobile subscription penetration 130% with 12 million 5G connections 2022
- Exports of telecom equipment SEK 100 billion in 2022
- AI patents filed by Swedish ICT firms: 1,200 in 2022
- Cybersecurity market size SEK 25 billion in Sweden 2022
- ST-Ericsson like chips output 10 million units in 2022
- Digital industry productivity growth 5.2% in 2022
- 25% women in ICT manufacturing roles in 2022
- Cloud computing revenue from Swedish data centers SEK 40 billion 2022
- IoT devices manufactured 20 million units in Sweden 2022
- Patent applications in electronics 2,500 from Sweden in 2022
- Nokia Sweden R&D sites employed 6,000 in 2022
- Fiber optic cable production 500,000 km equivalent in 2022
- ICT energy use 6% of total electricity, green 90% in 2022
ICT Interpretation
Sweden's ICT industry has essentially built a vast, humming, and impressively green economic engine that keeps the world connected while quietly powering its own prosperity, proving innovation isn't just about ideas but about turning them into cables, chips, data centers, and billions in exports.
Metals
- In 2022, SSAB produced 7.8 million tonnes of steel, with 60% from Swedish mills
- Swedish steel exports totaled 7.2 million tonnes in 2022, SEK 110 billion value
- The metals industry employed 32,000 in 2022, 4% growth from 2021
- Sweden's steel recycling rate reached 92% in 2022
- R&D spend in steelmaking was SEK 2.5 billion in 2022
- SSAB's fossil-free steel pilot produced 100 tonnes HYBRIT in 2022
- Mining output value SEK 80 billion in 2022, iron ore 90% share
- LKAB produced 26.5 million tonnes of iron ore pellets in 2022
- Steel industry energy efficiency improved 2.5% to 15 GJ/tonne in 2022
- Exports to automotive sector: 2.5 million tonnes specialty steel in 2022
- Copper production 100,000 tonnes from Boliden mines in 2022
- Zinc output 150,000 tonnes from Bergsman mines in 2022
- Steel price index averaged SEK 12,000 per tonne in 2022
- 1,200 apprentices in metallurgy trained in 2022
- CO2 emissions from steelmaking down 10% to 1.8 million tonnes in 2022
- Investment in green steel: SEK 30 billion committed by 2030, 2022 milestone
- Mining employment 8,500 in 2022
- Gold production 9 tonnes from Swedish mines in 2022
- Alloy steel production 1.2 million tonnes for exports in 2022
- Overcapacity utilization 95% in steel mills in 2022
- Nickel output 5,000 tonnes from Talvivaara-related ops in 2022
- Steel industry GDP contribution 1.5% or SEK 65 billion in 2022
- 75% of steel scrap sourced domestically in 2022
- EU anti-dumping measures protected SEK 10 billion steel imports in 2022
Metals Interpretation
While Sweden's steel industry continues to forge a robust economic backbone—producing, employing, and exporting mightily—its most compelling chapter is being written in the shift from heavy metal to green metal, recycling nearly everything but its ambition to decarbonize.
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