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Economy of Monaco vs Sweden compared: GDP & Debt

Updated on by Georank team

Monaco has a GDP of $11.1B compared to $604B for Sweden, ranking 152/197 and 26/197 by economy size, respectively.

Monaco vs Sweden GDP by year

Monaco
Sweden
1x
Year GDP, current $
Monaco Sweden
2024 $11,125,783,372 $603,715,224,266
2023 $10,003,892,565 $578,990,915,246
2022 $8,800,430,486 $575,071,237,641
2021 $8,623,242,743 $631,693,331,301
2020 $6,730,736,283 $544,265,668,452
2019 $7,383,496,254 $530,894,124,494
2018 $7,184,333,936 $549,649,344,043
2017 $6,430,254,653 $535,172,356,785
2016 $6,471,290,794 $513,058,312,951
2015 $6,264,756,528 $501,602,351,912
2014 $7,070,017,324 $577,727,767,304
2013 $6,555,591,710 $584,125,353,119
2012 $5,742,749,294 $549,739,674,655
2011 $6,088,689,808 $570,538,581,144
2010 $5,367,561,570 $492,750,897,239
2009 $5,474,379,252 $434,311,714,442
2008 $6,502,942,245 $514,614,100,833
2007 $5,875,790,766 $490,047,789,548
2006 $4,586,826,513 $422,528,394,459
2005 $4,204,652,899 $391,688,455,929
2004 $4,043,551,489 $384,545,442,175
2003 $3,597,089,751 $334,072,443,516
2002 $2,919,647,982 $267,371,907,447
2001 $2,673,723,034 $242,497,797,485
2000 $2,654,462,665 $262,903,560,280
1999 $2,907,118,641 $274,318,357,862
1998 $2,934,593,468 $270,887,306,759
1997 $2,840,195,190 $268,249,616,891
1996 $3,137,886,995 $291,949,597,375
1995 $3,130,309,995 $267,050,453,507
1994 $2,720,332,135 $228,699,066,874
1993 $2,574,494,356 $212,644,602,616
1992 $2,737,049,231 $283,908,914,454
1991 $2,480,540,845 $273,831,464,572
1990 $2,481,307,077 $261,466,577,009
1989 $2,010,083,833 $217,632,340,195
1988 $2,000,704,745 $206,686,590,776
1987 $1,839,081,463 $182,744,315,974
1986 $1,515,234,743 $150,279,869,729
1985 $1,082,867,507 $113,958,084,357
1984 $1,037,329,604 $109,043,045,407
1983 $1,092,560,365 $104,862,109,663
1982 $1,143,216,457 $114,214,731,799
1981 $1,205,188,648 $129,498,921,476
1980 $1,378,175,524 $141,886,067,004
1979 $1,209,870,147 $123,207,527,699
1978 $1,000,555,218 $104,290,933,496
1977 $811,191,392 $94,331,782,622
1976 $735,324,245 $89,232,517,046
1975 $711,978,962 $82,765,232,648
1974 $563,949,254 $65,917,634,590
1973 $523,554,039 $59,318,842,992
1972 $402,451,901 $48,883,173,400
1971 $327,706,210 $41,506,151,115
1970 $293,127,333 $38,037,226,668
1969 - $33,967,301,561
1968 - $31,277,871,669
1967 - $29,474,881,506
1966 - $27,154,716,721
1965 - $24,963,947,415
1964 - $22,685,490,195
1963 - $20,342,131,882
1962 - $18,794,066,990
1961 - $17,329,620,585
1960 - $15,930,075,467

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/monaco/sweden | CC BY

GDP per capita in Monaco vs Sweden by year

Monaco
GDP per capita

GDP per capita, PPP
Sweden
GDP per capita

GDP per capita, PPP
1x
Year Current $
Monaco Sweden
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $288,001 - $57,117 $71,845
2023 $256,800 - $54,950 $69,226
2022 $226,052 - $54,837 $67,076
2021 $223,823 - $60,648 $62,732
2020 $176,892 - $52,569 $57,489
2019 $193,747 - $51,649 $57,046
2018 $188,298 - $54,018 $53,122
2017 $170,663 - $53,210 $51,474
2016 $173,605 - $51,704 $50,290
2015 $170,437 $115,700 $51,188 $48,772
2014 $195,694 - $59,583 $46,841
2013 $184,941 $78,700 $60,844 $46,098
2012 $165,445 - $57,750 $45,207
2011 $179,364 $85,500 $60,379 $44,333
2010 $161,854 - $52,543 $41,951
2009 $169,150 $63,400 $46,708 $40,094
2008 $204,264 - $55,817 $41,907
2007 $184,559 - $53,568 $40,813
2006 $143,083 $30,000 $46,531 $37,672
2005 $130,539 - $43,378 $34,198
2004 $125,160 - $42,758 $33,805
2003 $111,110 - $37,292 $31,788
2002 $90,051 - $29,958 $30,987
2001 $82,403 - $27,259 $29,946
2000 $81,789 $27,000 $29,633 $29,636
1999 $89,698 $27,000 $30,969 $27,496
1998 $90,947 - $30,605 $25,897
1997 $88,582 - $30,324 $24,817
1996 $98,561 - $33,022 $23,952
1995 $99,032 - $30,254 $23,084
1994 $86,704 - $26,046 $21,835
1993 $82,685 - $24,390 $20,700
1992 $88,615 - $32,753 $20,767
1991 $80,997 - $31,777 $20,663
1990 $81,735 - $30,549 $20,357
1989 $66,816 - $25,625 -
1988 $67,181 - $24,499 -
1987 $62,456 - $21,761 -
1986 $52,082 - $17,955 -
1985 $37,690 - $13,647 -
1984 $36,582 - $13,080 -
1983 $39,076 - $12,590 -
1982 $41,479 - $13,719 -
1981 $44,157 - $15,564 -
1980 $50,814 - $17,073 -
1979 $44,990 - $14,856 -
1978 $37,608 - $12,602 -
1977 $30,875 - $11,432 -
1976 $28,396 - $10,853 -
1975 $27,921 - $10,103 -
1974 $22,348 - $8,078 -
1973 $20,882 - $7,291 -
1972 $16,187 - $6,018 -
1971 $13,334 - $5,125 -
1970 $12,098 - $4,729 -
1969 - - $4,263 -
1968 - - $3,953 -
1967 - - $3,746 -
1966 - - $3,478 -
1965 - - $3,228 -
1964 - - $2,961 -
1963 - - $2,675 -
1962 - - $2,485 -
1961 - - $2,304 -
1960 - - $2,128 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20).

GeoRank.org/economy/monaco/sweden | CC BY

Monaco's GDP per capita is $288,001, ranking 1/197, compared to $57,117 in Sweden, ranking 17/197. Adjusted for purchasing power (GDP per capita PPP), Monaco ranks 6th at $115,700, while Sweden ranks 23rd at $71,845.

Economic indicators

Monaco Sweden
Gross domestic product
$11.1B
2024
$604B
2024
GDP rank
152/197
2024
26/197
2024
GDP growth
8.51%
2023-2024
0.82%
2023-2024
GDP per capita
$288,001
2024
$57,117
2024
GDP per capita rank
1/197
2024
17/197
2024
GDP per capita, PPP
$115,700
2015
$71,845
2024
GDP per capita PPP rank
6/197
2015
23/197
2024
Government debt n/a
$199B
2024
Debt-to-GDP ratio n/a
33%
2024
Government debt per person n/a
$18,842
2024
Government debt per person rank n/a
32/185
2024
Average annual personal income after taxes
$97,068
2026
$42,066
2026
Market capitalization of domestic companies n/a
$290B
2003
Number of millionaires n/a
490,000
2025
Number of billionaires
2
2025
45
2025
Income share by richest 10% n/a
22.3%
2023
Income share by poorest 10% n/a
2.8%
2023
Government expenditure, % of GDP
20%
2025
49.3%
2024
Consumer prices inflation
1.5%
2019-2020
2.84%
2023-2024
Central bank interest rate n/a
1.75%
2025
Unemployment rate
6.33%
2016
8.31%
2024
Population
38053
10680056

Inflation comparison by year

Inflation
Monaco

Sweden
1x
Year Consumer prices inflation
Monaco Sweden
2024 - 2.84%
2023 - 8.55%
2022 - 8.37%
2021 - 2.16%
2020 1.5% 0.5%
2019 1.5% 1.78%
2018 1.5% 1.95%
2017 - 1.79%
2016 - 0.98%
2015 - -0.05%
2014 - -0.18%
2013 - -0.04%
2012 - 0.89%
2011 - 2.96%
2010 1.5% 1.16%
2009 - -0.49%
2008 - 3.44%
2007 - 2.21%
2006 - 1.36%
2005 - 0.45%
2004 - 0.37%
2003 - 1.93%
2002 - 2.16%
2001 - 2.41%
2000 1.9% 0.9%
1999 - 0.46%
1998 - -0.27%
1997 - 0.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (2000–2020, retrieved 2026-02-20).

GeoRank.org/economy/monaco/sweden | CC BY

Over the past 21 years, Monaco has recorded an average annual inflation rate of 1.58%, compared with 1.26% in Sweden. In 2020, inflation was 1.5% in Monaco and 2.84% in Sweden.

Top exports between countries

Monaco
Export category Export value
Sweden
Export category Export value
IT & IP services $255M
Transport & tourism services $21.1M
Business & finance services $9.11M
Manufacturing & construction services $1.48M

Balance of trade

Monaco Sweden
Current account balance n/a
$35.8B
2024
Current account balance ranking n/a
17/190
2024
Current account balance, % of GDP n/a
+5.92%
2024
Goods imports n/a
$188B
2024
Goods exports n/a
$218B
2024
Service imports n/a
$126B
2024
Service exports n/a
$116B
2024
Imports of goods and services, % of GDP n/a
51.6%
2024
Exports of goods and services, % of GDP n/a
54.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Monaco Sweden
Economic freedom 83 77.8
Economic freedom ranking 4/197 14/197
Property rights n/a 96.2
Government integrity n/a 91.6
Judicial effectiveness n/a 95.6
Tax burden n/a 51.6
Government spending n/a 28.4
Fiscal health n/a 97.5
Business freedom n/a 84.8
Labor freedom n/a 65.8
Monetary freedom n/a 78.1
Trade freedom n/a 79.4
Investment freedom n/a 85
Financial freedom n/a 80

Other economic metrics

Monaco Sweden
Services, % of GDP
87.2%
2024
66.4%
2024
Industry, % of GDP
12.8%
2024
21.7%
2024
Agriculture, forestry, and fishing, % of GDP n/a
1.42%
2024
GNI, Atlas method n/a
$615B
2024
GNI per capita, PPP n/a
$75,000
2024
Total reserves including gold n/a
$62.6B
2024
Total reserves ranking n/a
37/177
2024
Net foreign direct investment n/a
$2.08B
2024
Net inflows of foreign direct investment n/a
$27B
2024
Net outflows of foreign direct investment n/a
$29.6B
2024
Poverty at national poverty lines n/a
16.1%
2022
Gross capital formation, % of GDP n/a
25.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/monaco/sweden | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. TradeMap (2021, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.