In no particular order, other than maybe the five-ten first:
PJ Harvey – Let England Shake
Terakaft – Aratan N Azawad
Skriet – Det beslutande organet
Bob Hund – Det överexponerade gömstället
Helheim – Heidindomr ok motgangr
Graveyard – Hisingen Blues
Tinariwen – Tassili
Fucked Up – David Comes To Life
Taake – Noregs vapen
Austra – Feel It Break
Autopsy – Macabre Eternal
Portrait - Crime Laesae Majestatis Divinae
Deathspell Omega – Diabolus Absconditus
Knivderby – Dumskallarnas sammansvärjning
Tyler The Creator – Goblin
Veronica Maggio - Satan i gatan
Tsjuder – Legion Helvete
Shabazz Palaces – Black Up
Patrik Backlund – Is An Arsonist
Zomby – Dedication
King Cresote and John Hopkins – Diamond Mine
Jeffrey Lewis – A Turn In The Dream-Songs
In Solitude - The World, The Flesh, The Devil
Kimya Dawson – Thunder Thighs
Roffe Ruff – Barabas
Slöa Knivar – Ingen klass, ingen stil
Tim Hecker – Ravedeath, 1972
Cornershop featuring Bubbley Kaur - Cornershop & The Double 'O' Groove Of
Kajsa Grytt – En kvinna under påverkan
Årabrot – Solar Anus

Records proving the artist have done better but are still to be reckoned with:
British Sea Power – Valhalla Dancehall
The Strokes – Angles
Grace Jones – Hurricane
Off! - First Four Eps
Chad Vangaalen – Diaper Island
Glorior Belli – The Great Southern Darkness
Stephen Malkmus – Mirror Traffic
Thurston Moore – Demolished Thoughts
Kate Bush – 50 Words For Snow

Records that are great but could have done with more time and/or money spent on them:
Vånna Inget - Allvar
Wild Flag – Wild Flag

Great records, though not perfect:
Kurt Vile – Smoke Rings On My Halo
Josh T. Pearson – Last Of The Country Gentlemen
The Rapture – In The Grace Of Your Love
Panda Bear – Tomboy
The Culture In Memoriam – Rest In Pieces
Anna Järvinen – Anna själv, tredje
Tomas Hulenvik - The World Is Ours
Riddarna – Riddarna

Records I love but can't have an objective view on:
Magnus Ekelund & Stålet – Svart Flagg
Birgit Bidder – The Life Home

Song of the year:
Pascal - De är farliga

This years "How come I haven't even heard of them before?":
The Gits

Hopes for next year:
Raketen
The New Man
Nord & Syd
Robert Hurula
Conny Nimmersjö
Kranium
Könsförrädare
Norra Kust

Get a record deal, release an album, goddamn!:
Hospitalet

Oh, and some great shows, mostly at Föreningsgatan 7 (Luleå), by:
Könsförrädare
Terveet Kädet
Slöa Knivar
Hamngatan
Kranium
Dispose
Salenko
22 Pistepirkko

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Mattias Alkberg had a busy year in 2011 -- not only was his latest solo album and book "Anarkist", one of the best received Swedish albums of the year, he also did a split with Pascal and probably a whole bunch of other stuff that I can only guess about. As for what 2012 holds, wait and see...
http://www.mabd.se/

2. The summertime and how much wine i drank

3. White Ring - Black earth that made me

4. The trip I took with Hamngatan to Kiruna, I love Hamngatan

5. Bear Quartet - Monty Python

6. My new home Gothenburg

7. When I discovered Madvillain (Chicagojazzen introduced me to the Madvillainy album)

8. When the bassplayer in Hamngatan woke me up with a pizza

9. My graduation

10. Salem - King Night

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Mother Of The Forest released three EPs this year, all of which are available for free download at his website. Look for his debut LP to be released next spring.
http://motheroftheforest.blogspot.com/
http://www.myspace.com/motheroftheforest