Productivity has picked up lately. Sweden's knowledge-based economy and highly skilled workers make for high productivity, strong integration in the high-value parts of global value chains, and inclusive growth. However, falling school results and comparatively low skills among immigrants pose challenges.
Source: OECD June 2016 Economic Outlook database; OECD, Income Distribution and Poverty database; and OECD Secretariat calculations from EU-SILC – preliminary results.
Hagén, H.O. (2011), “Multifactor productivity growth in Sweden 1993-2010”, in Yearbook on Productivity 2012, Statistics Sweden, Stockholm.
McKinsey (2012), Growth and renewal in the Swedish economy, Development, current situation and priorities for the future, McKinsey Sweden and McKinsey Global Institute.
OECD (2015), OECD Economic Surveys: Sweden 2015, OECD Publishing, Paris, Chapter 1. Strengthening the Foundations for Growth.
The Innovation Council’s task is to develop Sweden as an innovation nation and strengthen Sweden’s competitiveness. It has an advisory role and provides new perspectives on issues of importance to innovation policy. Prime Minister Stefan Löfven is chairman of the Innovation Council, which consists of five ministers and ten advisory members from business and research areas.
The Ministry of Enterprise and Innovation is responsible for matters relating to housing and urban development, state-owned enterprises, information technology, enterprise and industrial policy, rural affairs, regional growth, post issues and infrastructure.