t extends to the edges of the flag; the
vertical part of the cross is shifted to the hoist side in the style of the
Dannebrog (Danish flag)

- Economy
Overview: Aided by a long period of peace and neutrality during
World War I through World War II, Sweden has achieved an enviable
standard of living under a mixed system of high-tech capitalism and
extensive welfare benefits. It has essentially full employment,
a modern distribution system, excellent internal and external
communications, and a skilled and intelligent labor force. Timber,
hydropower, and iron ore constitute the resource base of an economy
that is 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. As the 1990s open,
however, Sweden faces serious economic problems: long waits for
adequate housing, the decay of the work ethic, and a loss of
competitive edge in international markets.

GDP: $132.7 billion, per capita $15,700; real growth rate 2.1%
(1989 est.)

Inflation rate (consumer prices): 5.7% (September 1989)

Unemployment rate: 1.5% (1989)

Budget: revenues $58.0 billion; expenditures $57.9 billion,
including capital expenditures of $NA (FY89)

Exports: $52.2 billion (f.o.b., 1989 est.);
commodities--machinery, motor vehicles, paper products, pulp
and wood, iron and steel products, chemicals, petroleum and
petroleum products; partners--EC 52.1%, (FRG 12.1%, UK 11.2%,
Denmark 6.8%), US 9.8%, Norway 9.3%

Imports: $48.5 billion (c.i.f., 1989 est.);
commodities--machinery, petroleum and petroleum products,
chemicals, motor vehicles, foodstuffs, iron and steel, clothing;
partners--EC 55.8% (FRG 21.2%, UK 8.6%, Denmark 6.6%),
US 7.5%, Norway 6.0%

External debt: $17.9 billion (1988)

Industrial production: growth rate 3.3% (1989)

Electricity: 39,716,000 kW capacity; 200,315 million kWh produced,
23,840 kWh per capita (1989)

Industries: iron and steel, precision equipment (bearings, radio and
telephone parts, armaments), wood pulp and paper products, processed foods,
motor vehicles

Agriculture: animal husbandry predominates, with milk and dairy products
accounting for 37% of farm income; main crops--grains, sugar beets, potatoes;
100% self-sufficient in grains and potatoes, 85% self-sufficient in sugar beets

Aid: donor--ODA and OOF commitments (1970-87), $7.9 billion

Currency: Swedish krona (plural--kronor);
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