Sweden Economic Information
Central Bank: Sveriges Riksbank
Currency: Swedish krona (SEK, Swedish crown or kr)
Sweden enjoys a high standard of living through an economy heavily oriented towards foreign trade. Trade accounts for more than 50% of Sweden's GDP. Sweden's financial model of public-private partnerships provides a unique economic mixture of high-tech capitalism and its extensive welfare benefits. While a member of the European Union since 1995, Sweden has chosen to keep the krona as its currency and not convert to the euro.
Key industries:
Iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles.
Agricultural products:
Barley, wheat, sugar beets, meat, milk.
Export commodities:
Machinery, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals.
Import commodities:
Machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel, foodstuffs, clothing.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 1/4/2009. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Swedish krona:
Reasons to consider
- Swedish voters chose not to adopt the euro in 2003 and recent polling shows that a majority would still reject the European currency. If voter opinion changes, the Riksbank would be expected to implement monetary policies to help strengthen the krona against the euro.
- In an effort to pay down federal debt, reduce welfare dependence and streamline the government's role in the economy, Sweden plans to sell $31 billion in state assets during the next three years.
Risk factors to consider
- Due to its heavy reliance on foreign trade, the Swedish economy is highly dependent on the economic status of its trading partners. This can make the Swedish krona very volatile.
How EverBank can help with your Swedish krona needs?
WorldCurrencySM CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
DollarBull® CDs: Open a single currency CD in reverse—you benefit if the U.S. dollar appreciates against a chosen currency.
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrencySM account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
-
- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency, Euro Trax and DollarBull are proprietary service marks of EverBank. All rights reserved.
