Report: Swedish tech industry in 2023
TechSverige's recent report "The Swedish tech industry 2023" shows that the tech industry's contribution to the Swedish economy is reaching new highs. The tech industry's turnover in 2022 amounted to over SEK 1,000 billion and its contribution to GDP amounted to SEK 350 billion - which exceeds the total GDP contribution from the traditional basic industry. This means tax revenues of over SEK 150 billion - more than government spending on defense and justice combined.
- "Despite the economic situation and uncertainty in the world around us, the tech industry continues to grow and contribute to Sweden's prosperity," says Christina Ramm-Ericson, Chief Economist at TechSverige.
The report shows that the tech industry accounts for 11 percent of Sweden's exports, a share that in 2022 amounted to SEK 350 billion. This means that tech is one of Sweden's heaviest export segments. The tech industry is also a job-creating industry. Since 2020, 33,000 new tech jobs have been created and in the second quarter of 2023, the industry employed more than 265,000 people.
- Tech is not only of great importance to Sweden's economy, but is also an underlying prerequisite for the innovation and competitiveness of other industries and for the development of the public sector. In addition, the tech industry's solutions create great value in the everyday lives of individuals, for welfare and in the climate transition," says Christina Ramm-Ericson.
Despite positive developments in Sweden, there are challenges as global tech competition intensifies. TechSverige's report shows that growth in tech in countries such as Denmark, Finland, the Netherlands and Austria has grown twice as fast in 2015-2020. Other countries' powerful digitization reforms and the lack of these in Sweden mean that we are losing our previous lead. Not least, the digitization of the public sector is losing ground in relation to other countries. In addition, Europe is losing out in relation to the US and Asia.
- Sweden needs a new strong tech policy to secure our long-term position as a leading tech nation with successful companies that create jobs, economic growth, climate adaptation and welfare. We need to lead the development and use of the new advanced technology, the smart solutions and be digitally competitive, says Åsa Zetterberg, Director of TechSverige.
The report will be presented and discussed at TechSverige's seminar "The current state and future of the tech industry" on November 28.
Read the report "Swedish tech industry 2023"