Australia and Sweden Economies: A Side-by-Side Table Comparison

In comparing Australia and Sweden, Australia boasts a population nearly 2.5 times larger and a land area 14.6 times greater. Its GDP is about 2.9 times larger, while GDP per capita is 15% higher. However, Australia faces more income inequality and spends significantly more on military. Imports and exports show distinct economic profiles, with Australia trading more overall, but Sweden’s trade plays a bigger role in its economy.

Basic Indicators

Indicator	Australia	Sweden	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	10.49 million (85th)	Australia’s population is approximately 2.48 times larger than Sweden’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.53 million sq. km (49th)	Australia is 14.6 times larger than Sweden.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	591.72B USD (24th)	Australia’s total GDP is approximately 2.86 times larger than Sweden’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	56,424 USD (16th)	Australia’s GDP per capita is approximately 15% higher than Sweden’s, with Australians producing about $8,675 more per person annually.

Economic Indexes

Index	Australia	Sweden	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.952 (5th)	Australia’s HDI is 0.946 (very high), while Sweden’s is 0.952 (very high). Sweden’s score is 0.006 higher, indicating slightly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	77.5 (8th)	Australia’s Index of Economic Freedom is 1.7% lower than Sweden’s, 1.3 points less.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	28.9 (2020 est.)	With a 19% higher Gini coefficient, Australia has a higher degree of income inequality than Sweden.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Sweden
Total imports	363.57B USD	296.80B
Imports % of GDP	19.71%	49.89%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	Germany 16%, Netherlands 10%, Norway 9%, China 7%, Denmark 6%
Main import items	refined petroleum, cars, garments, trucks, plastic products	crude petroleum, cars, refined petroleum, broadcasting equipment, garments
Total exports	447.51B USD	324.07B
Exports % of GDP	25.43%	53.04%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Germany 10%, Norway 10%, US 9%, Denmark 8%, Finland 7%
Main export items	coal, iron ore, natural gas, gold, wheat	refined petroleum, cars, packaged medicine, paper, electricity

Australia’s imports are 22% higher than Sweden’s, but Sweden’s imports make up 30% more of its GDP compared to Australia. Australia’s exports are 38% higher than Sweden’s, but Sweden’s exports make up a larger slice of its economy.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Sweden
Military expenditure	32.3B USD	8.8B USD
Military expenditure (% of GDP)	1.90%	1.31%
Active military	59k	30k
Active military per 1,000 capita	3.8	5.1

Australia’s military expenditure is approximately 270% larger and $23.5 billion higher than Sweden’s, with Australia also allocating a greater percentage of its GDP to defense compared to Sweden.