t 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. Sweden is in the midst of a sustained economic
upswing, boosted by increased domestic demand and strong exports.
This and robust finances have offered the center-right government
considerable scope to implement its reform program aimed at
increasing employment, reducing welfare dependence, and streamlining
the state's role in the economy. The government plans to sell $31
billion in state assets during the next three years to further
stimulate growth and raise revenue to pay down the federal debt. In
September 2003, Swedish voters turned down entry into the euro
system concerned about the impact on the economy and sovereignty.

GDP (purchasing power parity):

$338.5 billion (2007 est.)

GDP (official exchange rate):

$455.3 billion (2007 est.)

GDP - real growth rate:

2.7% (2007 est.)

GDP - per capita (PPP):

$37,500 (2007 est.)

GDP - composition by sector:

agriculture: 1.5%
industry: 28.8%
services: 69.7% (2007 est.)

Labor force:

4.839 million (2007 est.)

Labor force - by occupation:

agriculture: 2%
industry: 24%
services: 74% (2000 est.)

Unemployment rate:

6.1% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: 3.6%
highest 10%: 22.2% (2000)

Distribution of family income - Gini index:

23 (2005)

Investment (gross fixed):

19% of GDP (2007 est.)

Budget:

revenues: $249.1 billion
expenditures: $233.5 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

41.7% of GDP (2007 est.)

Inflation rate (consumer prices):

2.2% (2007 est.)

Central bank discount rate:

3.5% (31 December 2007)

Commercial bank prime lending rate:

4% (31 December 2004)

Stock of money:

$217.1 billion (31 December 2007)

Stock of quasi money:

$48.49 billion (31 December 2007)

Stock of domestic credit:

$630.8 billion (31 December 2007)

Agriculture - products:

barley, wheat, sugar beets; meat, milk

Industries:

iron and steel, precision equipment (bearings, radio