Sweden facts:
Sweden facts state that Sweden ranks 21st among all the free economies of the world. An upward trend was observed in the economy of Sweden after Sweden became a member of the European Union. Sweden relies heavily on international trade. Total trade in Sweden accounts for 50% of the gross domestic product or the GDP. Sweden has manifested increased growth rates in almost all spheres. Inflation has always been on the lower side. Sweden facts state that unemployment is increasingly on the rise for the immigrants. Illness rates as well as problems associated with disability are also on the rise.Consequently, unit labor prices have remained comparatively low. Sweden facts state that there has been extensive deregulation in all the sectors of the Swedish economy. Falling outside the purview of deregulation was the housing sector. Employment opportunities in Sweden have not recovered fully after the economic crisis, Sweden faced in 1999.
Sweden facts in a nutshell:
Sweden boasts of having an efficient workforce in almost all the sectors of its economy. Iron ore, hydro-power and timber constitute the base of the economy. Firms, which are owned privately, comprise 90% of output from different industries. With regard to exports, wood, pulp, steel, iron, machinery, vehicles, chemicals are exported to the following countries: Norway, United Kingdom, Finland, Netherlands, France, United States of America, Germany, Belgium. Sweden imports different products from France, Belgium, Finland, United Kingdom, Norway, Netherlands and Germany. The products imported comprise food products, chemicals, petroleum products, machinery, clothing etc.Most of the firms are owned privately in Sweden. But matters pertaining to child allowances, pensions, medical allowances, which constitute 3/5th of GDP or the gross domestic product, is taken care of, by the public sector. Riksbank is the primary bank of Sweden, which was set up to look into matters related to price stability and monetary policies.
