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The Kingdom of Sweden has one of the highest standards of living in the world and is often envied for its low unemployment and continual economic growth. The country has an open, international business environment and Sweden is recognized as a world leader in corporate social responsibility.
Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden offers a highly skilled and efficient workforce, a modern welfare system and low corporate tax. An investor friendly and efficient business environment has made the country one of the largest recipients of foreign investment.
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COUNTRY FACTS |
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Language |
Swedish |
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Population |
9.4 million |
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Population density |
23 per square kilometre |
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Capital |
Stockholm |
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Head of State |
King Carl XVI Gustav |
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Government |
Conservative |
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Government Leader |
Fredrik Reinfeldt |
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ECONOMIC FIGURES |
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GDP per Capita (Global Rating) |
$44,000 (No. 14) |
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Economic Growth (year on year) |
6.8% |
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Unemployment |
7.5% |
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Inflation (year on year) |
1.5% |
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Consumer Confidence |
23.4 |
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Global Competitiveness Index |
Rank 2 |
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SECTORS |
Contribution to GDP |
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Agriculture |
1.7% |
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Industry |
25.1% |
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Services |
73.1% |
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EXPORTS |
$185 billion (2008) |
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Exported commodities |
Industrial machinery |
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Telecommunications |
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Road vehicles |
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Petroleum (not crude) |
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Paper |
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Iron and steel |
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Pharmaceuticals |
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Plastics |
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IMPORTS |
$170 billion (2008) |
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Imported commodities |
Petroleum (crude and not crude) |
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Industrial machinery |
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Telecommunications |
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Road vehicles |
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Iron and steel |
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Plastics |
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Office machines |
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Pharmaceuticals |
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SOURCE Statistics Sweden/Eurostat/IMF/World Economic Forum |
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Published in December 2010 |
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