Sweden: Prosperity gap (average shortfall from a prosperity standard of $28/day)

Key figures

What the numbers say

In 2023, Sweden's prosperity gap (average shortfall from a prosperity standard of $28/day) fell 21.4% on 2022 (from 1.4 to 1.1).

Across the 22 yearly changes before that (2001 to 2022), the average change was +5.4% and a typical year strayed about 25.1% from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 71.4% in 2018 and the biggest yearly fall was 37.5% in 2006. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is upward, about 0.04 a year. A straight line explains 33% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2023, Sweden had the 15th highest value of the 33 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Sweden in the 2023 ranking

• Türkiye — 14th of 33: 1.3
• Croatia — 15th of 33: 1.1
• Portugal — 16th of 33: 1.1
• Estonia — 18th of 33: 1
• Russian Federation — 19th of 33: 1
• Poland — 20th of 33: 0.9

What this measures

The average shortfall from a prosperity standard of $28 per day (adjusted for differences in purchasing power parity across countries). It is measured as the average factor by which incomes fall short of $28.

Regional and income-group figures are computed by the World Bank as a population-weighted average.

All 29 values

Prosperity gap (average shortfall from a prosperity standard of $28/day) in nearby economies

• Albania — 2.5 (2020)
• Armenia — 3.6 (2024)
• Austria — 0.8 (2023)
• Belarus — 1.6 (2020)
• Belgium — 0.5 (2023)
• Bulgaria — 1.4 (2023)
• Croatia — 1.1 (2023)
• Cyprus — 0.6 (2023)
• Czechia

More poverty data for Sweden

• Income share held by second 20% — 13.8% (2023)
• Income share held by third 20% — 17.8% (2023)
• Income share held by fourth 20% — 23.3% (2023)
• Income share held by highest 20% — 37.2% (2023)
• Income share held by highest 10% — 22.3% (2023)
• Proportion of people living below 50 percent of median income (%) — 11% (2023)
• Income share held by lowest 10% — 2.8% (2023)
• Income share held by lowest 20% — 7.9% (2023)
• Poverty headcount ratio at $3.00 a day (2021 PPP) (% of population) — 0.8% (2023)
• Poverty gap at $3.00 a day (2021 PPP) (%)

Reading data like this

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Questions people ask

What is Sweden's prosperity gap (average shortfall from a prosperity standard of $28/day)?

1.1 in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1975?

It is down 21.43% from 1.4 in 1975 (0.5% a year on average, compounded). The highest value was 1.6 in 2005 and the lowest 0.7 in 2017.

How does Sweden rank?

15th highest of 33 economies with data for 2023.

Is the latest change in prosperity gap (average shortfall from a prosperity standard of $28/day) unusual for Sweden?

In 2023, Sweden's prosperity gap (average shortfall from a prosperity standard of $28/day) fell 21.4% on 2022 (from 1.4 to 1.1). Across the 22 yearly changes before that (2001 to 2022), the average change was +5.4% and a typical year strayed about 25.1% from that (the standard deviation). This year's change was 1.1 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator SI.SPR.PGAP, licensed CC BY 4.0. Original source: World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are mostly from the Luxembourg Income Study database. Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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