Sweden rises in OECD ranking

Sweden rises in OECD ranking
Photo: Hans Bjurling
Sweden has moved up to a ninth place tie with Denmark in the 2007 prosperity rankings by the Organization for Economic Growth and Development (OECD).

Sweden originally held fourteenth place in last year’s rankings, but moved to eleventh place in the 2006 survey after further statistical adjustments.

The new numbers also show Sweden with a purchasing power 15 percent higher than the OECD average.

In 2006, Sweden’s purchasing power was 11 percent higher than the OECD average, according to Dagens Nyheter.

The gap between Sweden and the richest OECD countries has dropped since 1980. The banking crisis in the early 1990s caused Sweden to slip back in the rankings. The recovery has gone slowly, but now appears to have picked up speed.

The OECD includes thirty countries. The question of Sweden’s placement in the prosperity index will likely come up in debate about the country’s economy.

Turkey placed last in the study, with Luxemburg coming in first place. Iceland stands in eleventh place, with Finland taking the thirteenth spot.