Sweden Oil production Sweden Electricity production

Sweden Economy

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 of 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 and 2005. 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.

GDP (purchasing power parity) : $266.5 billion (2005 est.)

Inflation rate: 0.5% (2005 est.)

Labor force : 4.49 million (2005 est.)

Industries: iron and steel. precision equipment (bearings. radio and telephone parts. armaments). wood pulp and paper products. processed foods. motor vehicles

Sweden

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Sweden More Facts

Electricity - production: 127.9 billion kwh (2003)

Oil - production: 2.441 bbl/day (2003 est.)

Sweden More Facts

Exports: $126.6 billion f.o.b. (2005 est.)

Imports : $104.4 billion f.o.b. (2005 est.)
Currency (code) : swedish krona (sek)