Sweden Economy

In the 19th century, Sweden’s economy was a largely agricultural one. Today, it is highly industrialized; the distribution system is modern, internal and external communications are excellent, and the labour force is highly skilled. Timber, hydropower, and iron ore are the basic resources of Sweden. Its economy is mainly oriented toward foreign trade; the main industries being the motor vehicles and the telecommunication industries, pharmaceuticals and forestry. Sweden generally has an excellent standard of living; taxes are high and the public sector is large, but this h snot historically led to any significant political problems and is accepted by the Swedes as being the way it should be.

Sweden’s main export goods are machinery, motor vehicles, paper products, pulp and wood, iron and steel products and chemicals.

The Swedish economy suffered as many others in the global recession of the early 1990s, but has since recovered and growth prospects there are now considered to be good with stable, low inflation forecast.

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