Sweden

Economic indicators

The Swedish economy depends heavily on commerce, and its industrial sector is well developed. Sweden has one of the highest standards of living in the world. After a strong rise in 2006, the growth of the Swedish economy was less substantial in 2007, principally because of lower growth of exports (about 45% of GDP). The GDP growth rate was 2.7% in 2006. In 2007, the growth rate was 4.7% and the rate of unemployment was 4.6%. In 2008, domestic demand should continue to grow appreciably in the short term as a strong increase in employment and income should stimulate private consumption.

Main sectors of industry

Agriculture represents 1.1% of GDP. Main agricultural production is of cereals, dairy products, meat, wood and potatoes. The country has a wealth of natural resources: forests, iron, lead, copper, zinc and hydroelectric energy. The industrial sector contributes 28.1% to GDP. It is characterized by groups such as Volvo, Saab, Ericsson, ABB, AstraZeneca, Electrolux, Ikea, H&M, etc. Sweden's main manufacturing activities are processing wood, paper, electronic equipment, industrial food preparation, pharmaceutical products, etc. The new sectors of technologies and biotechnologies are significantly important in the economy. The tertiary sector contributes 70.9% to GDP especially in telecommunications, IT equipment, etc.

Source: World Bank - World Development Indicators - last available data.

Sources of economic information

Ministries

Ministry of FinanceMinistry of Foreign AffairsMinistry of Enterprise, Energy and CommunicationsMinistry of Agriculture

Statistical Office

Statistics Sweden

Central Bank

Riksbank

Stock Exchange

Stockholm Stock Exchange

Online newspapers

The local (in English)
Stockholm News (in English)
Göteborg Posten

Search Engines

Yahoo Sweden
AltaVista.se
Evreka

Economic portals

Einnews Sweden

Political outline

Executive Power

The King is the Head of State. The monarchy is hereditary. The King only has a ceremonial role. After a general election, the Prime Minister is first of all nominated by the parliamentary spokesperson, before being confirmed by the Parliament, for a four year term. The King plays no role in this process. The Prime Minister is the head of the government and he holds the executive power. The Council of Ministers is nominated by the Prime Minister, then submitted to the approval of Parliament.

Legislative Power

The Swedish legislative power is unicameral. The Parliament, called Riksdag, has 349 seats and its members are elected by universal suffrage on the basis of proportional representation for a four year term. The executive branch of government depends on the support of Parliament, often expressed by a vote of confidence. The Prime Minister can dissolve Parliament, even after receiving a vote of no confidence, unless elections took place less than three months before. Legislative power belongs both to the government and to Parliament. Swedish citizens enjoy considerable political rights.

Main political parties

Sweden has a multi-party system in which no party can take power by itself. That is why parties have to come to an agreement to form coalition governments. The main political parties in the country are:
- The SAP (Swedish Social Democratic Party) – the social democratic party, its electoral base is among blue collar workers, employees in the public sector and immigrants;
- The Centre Party, social liberals who concentrate on issues concerning agriculture, the environment and the countryside;
- The Christian Democratic Party, which is concerned with elderly people and family values;
- The Green Party, the ecological party which attracts young people and is opposed to membership of the EU;
- The Left Party - the socialist and feminist party, opposed to privatization and membership of the EU;
- The Liberal Party, advocates social liberalism and is considered to be centre right;
- The Moderate Party, the liberal conservative party.

Current political leaders

King: CARL XVI GUSTAF (since September 1973) – hereditary.
Prime Minister (incoming) : Fredrik Reinfeldt (since October 2006) – Modern Party, head of a coalition with the Centre Party, the Liberal Party and the Christian Democrats.

Next election dates

Parliamentary elections: September 2010

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