Selling to Scandinavia

What Is Scandinavia?

Scandinavia is an area that consist of five countries where the four most known are: Denmark, Finland, Norway, and Sweden.
Even though each country has its own culture and people, there is still a common understanding and unity between the nations which makes Selling to Scandinavia more manageable.

Economy and GDP?

Scandinavia: In the table below, is there an overview of the GDP in the four biggest Scandinavian countries.

Country Population GDP (Purchasing Power Parity) GDP (Per Capita)
Denmark 5,569,077 (July 2014 est.) $211.3 billion (2013 est.) $37,800 (2013 est.)
Finland 5,268,799077 (July 2014 est.) $195.5 billion (2013 est.) $35,900 million Mt (2013 est.)
Norway 5,147,792077 (July 2014 est.) $282.2 billion (2013 est.) $55,400 million (2013 est.)
Sweden 9,723,809 (July 2014 est.) $393.8 billion (2013est.) $42,500 (2013 est.)
Total Sum of Countries Sum: 25,709,477 Sum: $1,082,8 trillion Average: $42,900

Other European nations: For comparison you can see the following tables with an overview of the GDP in Italy, the Netherlands, Poland, and the United Kingdom.

Country Population GDP (Purchasing Power Parity) GDP (Per Capita)
Italy 61,680,122 (July 2014 est.) $1.805 trillion (2013 est.) $29,600 (2013 est.)
Netherlands 16,877,351 (July 2014 est.) $699.7 billion (2013 est.) $43,300 (2013 est.)
Poland 38,346,279 (July 2014 est.) $814 billion (2013 est.) $21,100 (2013 est.)
United Kingdom 63,742,977 $2.387 trillion (2013 est.) $37,300 (2013 est.)
Total Sum of Countries Sum: 180,646,729 Sum: $5,705,7 trillion (2013 est.) Average: $32,825 (2013 est.)

The European Union: Here is a table which compare the whole GDP of the European Union with the Scandinavian GDP.

Country Population GDP (Purchasing Power Parity) GDP (Per Capita)
European Union 511,434,812 (July 2014 est.) $15.85 trillion (2013 est.) $34,500 (2013 est.)
European Union without:
Denmark, Finland,
Norway, and Sweden
485,725,335 (July 2014 est.) $14,77 trillion (2014 est.) $29.000 (2013 est.)
Difference: 199,74 million Mt.

Is the Scandinavian economy healthy compared to the rest of the European Union?

Without Scandinavia, the GDP of the European Union (Per Capita) decrease with 5.500 or 15.94 percent. These numbers indicate that the Scandinavian economy is healthy in the context of the European Union.

Conclusion and the Benefit of Selling to Scandinavia

The Scandinavian population only accounts for 5% of the total population in the European Union. However, even though the population is low, the Scandinavian market is still lucrative because of the Scandinavians represent almost 16% of the GDP (per capita) in the European Union.