Value added increased by 17 percent for the manufacturing companies and by 6.5 percent for the services sector companies in 2010 compared to the year before. Operating profit generated by the Swedish economy amounted to SEK 537 billion, the highest level so far during the 21st century. Net investments continued to be low in 2010.
The Swedish business sector was hard hit by the financial crisis. However, in 2010 the economic situation for Swedish companies improved. Total operating profits increased by as much as 40 percent in 2010. Net investments in tangible assets by contrast continued to fall.
The sectors hardest hit by the financial crisis were the steel and automotive industries. However, they were also the sectors that had a visible rebound and recovery in 2010. The automotive industry increased its value added with a staggering 95 percent between 2009 and 2010. However, reemployment did not keep apace with this figure and was slower. Within the steel industry the number of employees remained largely unchanged in 2010 compared to 2009. The automotive industry continued to lay off people in 2010. The employment sector including staffing agencies were also hit hard by the financial crisis. But during 2010 this trend was reversed as the sector’s employment rate increased by 17 percent. There are a number of sectors that have grown continuously during the period of 2007 to 2010. Education and healthcare are two notable examples. These sectors have each increased their turnover by 10 percent in 2010 compared to 2009.
The Swedish economy consists of 97 percent micro companies
In 2010 the Swedish economy consisted of over 1 million active companies. These companies together employed nearly 2.5 million people, had a total turnover of SEK 6 700 billion and generated SEK 1 950 billion in value added. The combined total assets of all enterprises amounted to over SEK 14 700 billion.
The Swedish economy consists mostly of smaller companies. 97 percent of these are defined as micro companies with fewer than 10 employees. These micro companies generated nearly one quarter of the Swedish business value added. In 2010 the largest companies (+250 employees) accounted for fewer than one per thousand of the economies membership of companies but accounted for more than 40 percent of total value added and turnover and 36 percent of the total employees.
Highest value added per employee in the real estate sector
The companies in the wholesale and retail trade sector contributed the most to the total turnover (32 percent) and also made the second largest contribution to the total value added (17 percent) in 2010. In the service sector, wholesale trade contributed mostly to the total value added. The real estate sector had the highest value added per employee in the service sector amounting to SEK 2.4 million.