The economy of Sweden is a developed diverse economy, aided by timber, hydropower and iron ore. These constitute the resource base of an economy oriented toward foreign trade. The main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipments, chemical goods, home goods and appliances, forestry, iron and steel.
Because Sweden, as a neutral country, did not actively participate in World War I...
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The economy of Sweden is a developed diverse economy, aided by timber, hydropower and iron ore. These constitute the resource base of an economy oriented toward foreign trade. The main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipments, chemical goods, home goods and appliances, forestry, iron and steel.
Because Sweden, as a neutral country, did not actively participate in World War II, it did not have to rebuild its economic base, banking system, and country as a whole, as many other European countries did. Sweden has achieved a high standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. Sweden has the second highest total tax revenue behind Denmark, as a share of the country's income. As of 2010, total tax revenue was 45.8% of GDP, down from 48.3% in 2006.
In the 19th century Sweden evolved from a largely agricultural economy into the beginnings of an industrialized, urbanized...
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