Sweden
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| Introduction - Sweden: | | Location - Sweden: | | People - Sweden: | | Government - Sweden: | | Economy - Sweden: | Economy overview | Aided by peace and neutrality for the whole of the 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 1% of GDP and 2% of employment. The governments 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 during 2004-06. Presumably because of generous sick-leave benefits, Swedish workers report in sick more often than other Europeans. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. | | Gdp purchasing power parity | $290.6 billion (2006 est.) | | Gdp official exchange rate | $373.2 billion (2006 est.) | | Gdp real growth rate | 4.7% (2006 est.) | | Gdp per capita ppp | $32,200 (2006 est.) | | Gdp composition by sector | agriculture: 1.1%
industry: 28.1%
services: 70.9% (2006 est.) | | Labor force | 4.59 million (2006 est.) | | Labor force by occupation | agriculture: 2%
industry: 24%
services: 74% (2000 est.) | | Unemployment rate | 5.6% (2006 est.) | | Population below poverty line | NA% | | Household income or consumption by percentage share | lowest 10%: 3.7%
highest 10%: 20.1% (1992) | | Distribution of family income gini index | 25 (2000) | | Inflation rate consumer prices | 1.4% (2006 est.) | | Investment gross fixed | 17.6% of GDP (2006 est.) | | Budget | revenues: $222 billion
expenditures: $210.5 billion; including capital expenditures of $NA (2006 est.) | | Public debt | 46.4% of GDP (2006 est.) | | Agriculture products | barley, wheat, sugar beets; meat, milk | | Industries | iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles | | Industrial production growth rate | 4.3% (2006 est.) | | Electricity production | 150.5 billion kWh (2004) | | Electricity consumption | 137.8 billion kWh (2004) | | Electricity exports | 17.8 billion kWh (2004) | | Electricity imports | 15.6 billion kWh (2004) | | Oil production | 3,208 bbl/day (2004 est.) | | Oil consumption | 362,400 bbl/day (2004 est.) | | Oil exports | 231,100 bbl/day (2004) | | Oil imports | 580,600 bbl/day (2004) | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 979 million cu m (2004 est.) | | Natural gas exports | 0 cu m (2004 est.) | | Natural gas imports | 979 million cu m (2004 est.) | | Current account balance | $28.61 billion (2006 est.) | | Exports | $173.9 billion f.o.b. (2006 est.) | | Exports commodities | machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals | | Exports partners | Germany 9.7%, US 9.2%, Norway 9.1%, UK 7.1%, Denmark 6.8%, Finland 5.9%, France 4.9%, Netherlands 4.7%, Belgium 4.5% (2006) | | Imports | $151.8 billion f.o.b. (2006 est.) | | Imports commodities | machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing | | Imports partners | Germany 17.2%, Denmark 9%, Norway 8.1%, UK 5.9%, Netherlands 5.7%, Finland 5.6%, France 4.5%, Belgium 4% (2006) | | Reserves of foreign exchange and gold | $22.26 billion (August 2006 est.) | | Economic aid donor | ODA, $1.7 billion (1997) | | Debt external | $598.2 billion (30 June 2006) | | Currency code | Swedish krona (SEK) | | Exchange rates | Swedish kronor per US dollar - 7.3731 (2006), 7.4731 (2005), 7.3489 (2004), 8.0863 (2003), 9.7371 (2002) | |
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This page was last updated on 16 September, 2007
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