Each year the OECD compiles a table ranking the purchasing power adjusted GDP per capita of member countries. Purchasing power adjusted means that countries´ GDP per capita has been adjusted with respect to price levels. This is done in order to increase comparability. The list shows the value of the countries´ production adjusted for both price levels and the size of the countries´ populations.
During late 1970s until the early 1990s, Sweden had a weaker GDP growth rate than the majority of other industrialised countries. During the deep recession of 1991-1993 in Sweden, the GDP actually fell with about 4 percent resulting in a swift fall in the OECD list. As a consequence, Sweden’s purchasing power adjusted GDP per capita has fallen in relation to other industrial countries over recent decades, from fourth to 14th place. However, since late 1990s Sweden has started to climb on in the ranking again. Currently, Sweden is on 9th place.
Important to note when comparing countries according to the purchasing power adjusted GDP per capita is that the difference between some countries is very small. Also, countries continuously revise their GDP which might lead to changes in the ranking.
Sweden's position in the OECD list of GDP per capita
Note: OECD had 24 members until 1993. After that 10 more countries have joined: Mexico (1994), Czech Republic (1995), Hungary, Korea, Poland (1996), Slovak Republic (2000) and Slovenia, Chile, Israel and Estonia (2010). OECD currently has 34 members.