Swedish drug sector ten times larger than expected

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Published 15 May 2021 at 13.35

Domestic. The market for illegal drugs makes up a ten times larger part of Sweden's economy than previously known, shows a new calculation.

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Since the drug trade has been part of Sweden's official GDP for many years, it may be necessary to recalculate the figures.

This since the Encrochat intrusion showed that drugs are sold for significantly higher amounts than what has previously been known in Sweden.

According to the police, the market generated SEK 700 million in criminal profits in just a few months last spring.

The largest players have organizations similar to large companies and have their own “insiders” in the banks, the police tell Ekonomi-Ekot. It is not clear which bank is involved in this, but it is previously known that the major bank Swedbank often occurs in similar contexts.

Statistics Sweden is now opening up to update how to calculate the size of the drug trade in the GDP figures, the Swedish Financial Services Authority states -Ekot.