Sweden

This write up copy from WIkipedia as a reference. Sweden is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labour force. Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden's engineering sector accounts for 50% of output and exports. Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance. Agriculture accounts for 2% of GDP and employment. Income is relatively flatly distributed, Sweden has the lowest Gini coefficient (0.23) of any country.

In terms of structure, the Swedish economy is characterised by a large, knowledge-intensive and export-oriented manufacturing sector, an increasing, but comparatively small, business service sector, and by international standards, a large public service sector. Large organisations both in manufacturing and services dominate the Swedish economy.^[99]

The 20 largest (by turnover in 2007) companies registered in Sweden are Volvo, Ericsson, Vattenfall, Skanska, Sony Ericsson Mobile Communications AB, Svenska Cellulosa Aktiebolaget, Electrolux, Volvo Personvagnar, TeliaSonera, Sandvik, Scania, ICA, Hennes & Mauritz, IKEA, Nordea, Preem, Atlas Copco, Securitas, Nordstjernan and SKF.^[100] Sweden's industry is overwhelmingly in private control; unlike some other industrialised Western countries, such as Austria and Italy, publicly owned enterprises have always been of minor importance.

Real GDP growth in Sweden, 1996–2006.

Some 4.5 million residents are working, out of which around a third has tertiary education. GDP per hour worked is the world's 9th highest at 31 USD in 2006, compared to 22 USD in Spain and 35 USD in United States.^[101] GDP per hour worked is growing 2½ per cent per year for the economy as a whole and the trade-terms-balanced productivity growth is 2%.^[101] According to OECD, deregulation, globalisation, and technology sector growth have been key productivity drivers.^[101] Sweden is a world leader in privatised pensions and pension funding problems are relatively small compared to many other Western European countries.^[102]

Sweden is part of the Schengen Area and the EU single market.

The typical worker receives 40% of his income after the tax wedge. The slowly declining overall taxation, 51.1% of GDP in 2007, is still nearly double of that in the United States or Ireland. The share of employment financed via tax income amounts to a third of Swedish workforce, a substantially higher proportion than in most other countries. Overall, GDP growth has been fast since reforms in the early 1990s, especially in manufacturing.^[103]