In Sweden, there are 12.1 babies per 1,000 people as of 2020. Germany has a top tax rate of 47.5% as of 2016. In Sweden, the top tax rate is 57.1% as of 2016. Furthermore, Sweden's unemployment rate rose to 9.4% in June, the highest figure since 1998, and up more than 2 percentage points from the beginning of the year. It's a free, question-and-answer based forum to discuss An armed neutrality was preserved in both world wars. Its neighbors Portugal (14.1%) and France (13.8%) experienced similarly large contractions of their respective economies during the second quarter. Germany has a total of 2,389 km of coastline. Care home deaths had reportedly accounted for almost half of all fatalities linked to the coronavirus in Sweden in the first half of the year. Sweden's relaxed approach to the coronavirus pandemic has resulted in global scrutiny. Last month, Sweden was the second most-infected country per capita in the world. Sweden spends 7.7% of total GDP on education as of 2016. Sweden's gross domestic product (GDP) tumbled 8.6% in the second quarter of the year. what life is like in countries and cities around the world. Economy be 10.2% less likely to be live below the poverty line In Germany, 16.7% live below the poverty line. A Division of NBCUniversal. In Germany, there are approximately 8.6 babies per 1,000 people as of 2020. It is next to impossible to say what effect, if any, the country's response had on its economy, since there are so many factors at play. In Sweden, that number is 6.7% as of 2017. Its aim was to save lives and reduce pressure on the country's health care system. Swedish government officials have insisted that saving the economy was never the purpose of their controversial coronavirus strategy. Instead of closing down its economy, the country issued comparatively light restrictions — banning gatherings of over 50 people and otherwise asking people to maintain social distancing as best they can. The … The Spanish economy recorded the sharpest decline among member states when compared to the previous quarter, falling 18.5%. Germany, often described as Europe's growth engine, recorded a drop of 10.1% when compared to the first three months of the year. In Germany, approximately 7.0 women per 100,000 births die during labor as of 2017. It follows the government's decision not to impose a full-scale lockdown to curb the spread of the coronavirus. A man rides an electric scooter in Stockholm on July 27, 2020, during the novel coronavirus / COVID-19 pandemic. Yet, Sweden's economic output declined at a lower rate than that of many other European countries. Signing in allows you to ask questions in our community, contribute to our cost of living database, and more. The nation's GDP fell 8.6% during the three-month period ending in June, according to preliminary figures from Statistics Sweden. But Germany is with an amount of 9.8 percent in the lead of Sweden’s customer countries. Sweden's gross domestic product took its largest tumble in a single quarter in modern history during the second quarter of this year, despite the country's decision to not shut down its economy. In Sweden, on the other hand, 2.6 children do as of 2020. The National Institute for Economic Research (NIER) said in a statement Wednesday that it believed that Sweden's economy is set to shrink 7% this year and unemployment to rise to 10.2%. © 2020 CNBC LLC. "Euro area growth seems to be rebounding more strongly in Q3, but we predict the Swedish economy to continue to outperform euroland also going forward," he added. hide caption. With an “Economic Freedom Score” of 75.2, Sweden has a similar level of economic freedom to the United States (76.8) and ranks ahead of South Korea and Germany… "We are just as worried as you about the world economy. Most enterprises are privately owned and market-oriented, but when transfer payments—such as pensions, sick pay, and child allowances—are included, roughly three-fifths of gross domestic product (GDP) passes through the public sector. The World Factbook, Federal Central Tax Office (BZSt), Skatteverket. Germany spends 4.8% of its total GDP on education as of 2016. Sweden's GDP increased by 0.1% in the first quarter, when seasonally adjusted and compared to the final three months of 2019. People walk in Stockholm on July 27, most without the face masks that have become common on the streets of many other countries as a method of fighting the spread of the coronavirus. "It's a very serious threat," Olofsdotter said. Unlike many countries in the world, Sweden didn't order a strict lockdown. The euro zone, consisting of the 19 countries that make up the bloc's monetary union, reported the GDP dropped 12.1% over the same three-month period. In Germany, approximately 3.3 children die before they reach the age of one as of 2020. However, Sweden's economy still outperformed many of its European counterparts over the three-month period through to the end of June. How big is Sweden compared to Germany? Spain's economy recorded the highest decline among the 27 European Union members during the second quarter, its GDP fell 18.5% compared to the previous quarter. The statistics on this page were calculated using the following data sources: In Germany, 3.8% of adults are unemployed as of 2017. The absence of a full-scale lockdown has coincided with the country recording more Covid-19 infections and related fatalities than all of its Nordic neighbors combined — Finland, Denmark, Norway and Iceland. A military power during the 17th century, Sweden has not participated in any war for almost two centuries. Join the Elsewhere community and ask a question about Sweden. Sweden is a sovereign country in Europe, with a total land area of approximately 410,335 sq km. Brazil, which has recorded the world's second-worst coronavirus outbreak, currently has the highest daily death rate per capita, reporting a rolling average of 4.74 deaths per million per day. In Sweden, that number is 3,218 km. Sweden has reported nearly 79,800 confirmed cases, as of Thursday, according to Johns Hopkins University. Economic aid > Donor: The net official development assistance (ODA) from Organization for Economic Cooperation and Development (OECD) nations to developing countries and multilateral organizations. As of Wednesday, data published by Our World in Data showed Sweden has recorded 0.64 deaths per million per day on a rolling average over the last seven days. In Sweden, however, that number is 15.0%. Sign up for free newsletters and get more CNBC delivered to your inbox. To mitigate the pandemic's economic effects, the Swedish government has enacted several legislative measures during the crisis, including a nearly $31 billion stimulus package in March. See an in-depth size comparison. In Germany, the average life expectancy is 81 years (79 years for men, 84 years for women) as of 2020. Sweden joined the EU in 1995, but the public rejected the introduction of the euro in a 2003 referendum. Got a confidential news tip? "The decrease in GDP is the largest single quarter drop in the directly comparable time series starting 1980," the government agency said in a release. "We expect our economy to shrink between 4-10% in 2020," Karin Olofsdotter, Sweden's ambassador to the United States, told NPR in April. It is clear, however, that the Swedish economy has fared much better during the second quarter than many other European economies. The euro zone's economy contracted by 12.1% in the second quarter when compared to the previous quarter and by 11.9% across the broader European Union. We want to hear from you. David Oxley, senior Europe economist at Capital Economics, told CNBC via email that Sweden's sharp GDP contraction "confirms that it has not been immune to Covid, despite the government's well-documented light-touch lockdown.". David Oxley, senior Europe economist at Capital Economics, said that the sharp contraction of the Swedish economy during the second quarter "confirms that it has not been immune to COVID, despite the government's well-documented light-touch lockdown.". Germany, often described as Europe's growth engine, recorded a drop of 10.1% when compared to the first three months of the year. Swedish flags fly from a tourist souvenir shop in Gamla Stan in Stockholm, Sweden, on Thursday, March 26, 2020. In Germany, 16.7% live below the poverty line as of 2015. In Sweden, 4.0 women do as of 2017. In direct contrast to many countries across Europe, Sweden has kept most schools, particularly for younger children, and many businesses open in the wake of the coronavirus pandemic.