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Sweden
| Economy Overview |
| Aided by peace and neutrality for the whole 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labor force. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. Agriculture accounts for only 2% of GDP and 2% of the jobs. The government's commitment to fiscal discipline resulted in a substantial budgetary surplus in 2001, which was cut by more than half in 2002, due to the global economic slowdown, declining revenue, and increased spending. The Swedish central bank (the Riksbank) focuses on price stability with its inflation target of 2%. Growth remained sluggish in 2003, but picked up in 2004. Presumably because of generous sicktime benefits, Swedish workers report in sick more often than other Europeans. On 14 September 2003, Swedish voters turned down entry into the euro system, concerned about the impact on democracy and sovereignty. |
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| Economy Statistics |
| Exports: |
$121.7 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 10.7%, Germany 10.2%, Norway 8.6%, UK 7.8%, Denmark 6.7%, Finland 5.7%, France 4.8%, Netherlands 4.8%, Belgium 4.5% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$97.97 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Germany 18.7%, Denmark 9.2%, Norway 7.6%, UK 7.5%, Netherlands 6.8%, Finland 6.4%, France 5.5%, Belgium 4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Stockholm Chamber of Commerce |
| Address: |
Västra Trädgårdsgatan 9, Box 16050, SE-103 21 Stockholm |
| Phone: |
+46 (0)8 - 555 100 76 |
| Fax: |
(0)8 - 566 316 75 |
| Website: |
http://www.chamber.se/ |
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