What kind of economy does Sweden have?
Economy 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 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 20
The Economy of Sweden is modern and highly industrialised. 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. Main industries include motor vehicles, telecommunications, pharmaceuticals and forestry. Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an excellent standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. The country is known for its high taxes and large public sector. According to the statistics collected by the Organisation for Economic Co-operation and Development (see List of countries by tax revenue as percentage of GDP), Sweden has the highest total tax revenue as percentage of GDP of any other ranked country (as of 2005). It is also the only country in the world with a total tax revenue higher than 50 % of GDP.
Sweden is a developed country. As many developed country do, we depend on services business where 70 percent of our GDP depend on it. Type of services are like telecommunications and computer equipments. http://swedish-girl.blogspot.
