Processes for production of ethanol and biogas (scenario 1) and biomethane (scenario 2) from pinewood improved by N - methyl morpholine - N - oxide ( NMMO) pretreatnment were developed and simulated by Aspen plus®.These processes were compared with t wo processes using steam explosion instead of N - methyl morpholine - N - oxide ( NMMO) pretreatment for production of ethanol (scenario 3) and biomethane (scenario 4), and the econom ies of these four processes were evaluated by Aspen Process Economic Analyzer ( PEA ). The gasoline equivalent prices of the products including 25% value added tax ( VAT ) and selling and distribution expenses for the scenarios 1 to 4 were respectively 1.40, 1 .20, 1.24, and 1.04 €/l, which are lower than gasoline price (1.65 €/l average in 2013 in Sweden). The profitability indexes for the scenarios 1 to 4 were 1.14, 0.93, 1.16, and 0.96 , respectively. Despite the lower manufacturing costs of biomethane, the pr ofitability indexes of these processes were lower than that of the bioethanol processes, because of higher capital requirements. The results showed that taxing rule is an effective parameter on the economy of the biofuels. The gasoline equivalent prices of the biofuels were 18 - 39% lower than gasoline; however, 37% of the gasoline price contributes to ene rgy and carbon dioxide tax which are not included in the prices of biofuels based on the Swedish taxation rules .