Swedish Krona

Overview

Economy

• Sweden is a member of EU, NATO (2024), OECD, Nordic Council, Council of Europe.
• Main industries include: Iron and steel, Precision equipment, Wood pulp and paper products, Processed foods, Motor vehicles.
• Sweden is part of the World Trade Organization.
• Imports are machinery, petroleum, petroleum products, chemicals, motor vehicles, iron, steel, foodstuffs, clothing.
• Major exports include machinery, motor vehicles, paper products, pulp, wood, iron, steel products, chemicals.
• GDP: $621.2 billion (2023 est.).
• GDP per capita: $58,529 (2023 est.).
• Unemployment rate: 7.5% (2023 est.).
• Inflation rate: 8.5% (2023 est.).
• Main trading partners: Germany, Norway, United States, Denmark, Finland, United Kingdom.
• Trade agreements: EU Single Market, Various bilateral agreements.

History

• Previous currencies used: Swedish riksdaler, Various medieval currencies.
• The krona was introduced in 1873 as part of the Scandinavian Monetary Union with Denmark and Norway. It has been Sweden's currency since then, surviving two world wars and various economic crises.
• 1873: Krona introduced in Scandinavian Monetary Union
• 1914: End of Scandinavian Monetary Union
• 1931: Left gold standard
• 1992: Floating exchange rate adopted
• 1995: EU membership (but retained krona)
• 2003: Referendum rejected euro adoption
• Exchange rate peg: Gold standard (1873-1931).
• Exchange rate peg: Various pegs (1931-1992).
• Exchange rate peg: Free floating (1992-present).

General Information

• ISO 4217 Code: SEK
• Symbols: SEK/kr
• Currency Subunits: 100 öre
• Central Bank: Sveriges Riksbank
• Monetary Policy: Inflation targeting with 2% target. Free-floating exchange rate with focus on domestic price stability.
• Bills: 20 SEK, 50 SEK, 100 SEK, 200 SEK, 500 SEK, 1000 SEK
• Coins: 1 krona, 2 kronor, 5 kronor, 10 kronor
• USD Exchange Rate: Variable (approximately 10.5 SEK per USD)
• Pegged To: None (Floating)
• Capital: Stockholm
• Population: 10,612,086 (2023 est.)
• Area: 450,295 km²
• Languages: Swedish (official), Small Sami- and Finnish-speaking minorities
• Time Zones: UTC+1 (CET), UTC+2 (CEST in summer)
• Government Type: Parliamentary constitutional monarchy
• Head of Government: King (head of state), Prime Minister (head of government)
• Independence: June 6, 1523 (Gustav Vasa elected king)
• Ethnic Groups: Swedish 80.3%, Syrian 1.9%, Iraqi 1.4%, Finnish 1.4%, Other 15%
• Religions: Church of Sweden 57.6%, Other Protestant 3.8%, Roman Catholic 1.2%, Orthodox 1.2%, Muslim 2.1%, Other 1.4%, None 32.7%
• Literacy Rate: 99% (2003 est.)
• Transport: Excellent rail network, modern roads, Stockholm Arlanda Airport, major Baltic Sea ports
• Communications: Advanced telecommunications, 95% internet penetration, comprehensive 5G coverage
• Energy: Hydroelectric 40%, Nuclear 30%, Wind 17%, Biomass 7%, Other renewables 6%
• Countries Using This Currency: Sweden
• Data Sources: Central Bank: Sveriges Riksbank (riksbank.se), Economic Data: Statistics Sweden, World Bank, IMF, Trade Data: Swedish Customs, Demographic Data: Statistics Sweden, Geographic Data: Swedish Meteorological and Hydrological Institute, Historical Data: Sveriges Riksbank archives
• Last Updated: 2025