Economics
SWEDEN
Swedish Economy
By Marcus and Konrad
Generally about Swedish
economy
krona (SEK). 55,9 % voted
no to change currency.
Important exports for the
Swedish economy are
machines, paper, wood
products, iron, steel,
vehicles, electronics and
telecommunication
products. The service sector
in Sweden is increasing
while the industry sector is
decreasing. The exportation
has in recent years been 50
% of the GDP, which
typically makes a country
vulnerable to economic
depressions, but Sweden
has stood relatively well
during the current
depression.
Famous Swedish
companies and
entrepreneurs
The tax funded sector in
Sweden is extensive, and
the redistribution of income
is high – which makes a lot
of things like school, health
care, elderly care free.
Sweden is amongst the top
of the world when it comes
to having free social
insurance-stuff. “Free” is of
course not entirely the right
word for it, since the “free”
stuff is funded through
taxes – which too are
amongst the highest in the
world.
Even though Sweden is a
part of the European Union,
Sweden doesn’t have the
Euro-currency, since the
Swedish people chose to
stick with the Swedish
!
Internationally, Sweden is
mostly known for Volvo,
IKEA, SAAB and H & M.
friendly simplicity. Currently
IKEA has 332 stores in 38
countries. Riding on the
succes of the company,
Ingvar Kamprad became
one of the wealthiest people
in the world.
SAAB is another Swedish
car company that is
When Swedes think of a
considered one of Swedens
known Swedish company,
most popular companies. It
Volvo tends to be one of the was originally supposed to
first names that come up,
develop Airplanes but
though it´s basically owned launched a carmodel in
by the Chinese nowadays.
1947. SAAB developed
In 1999 Volvo suffered a
several cars in the 50´s but
serious economical crisis
had a major breakthrough
and was forced to be sold to with the SAAB 99 which was
the American Ford Motor
introduced in 1967 and was
Company. In 2009 Ford
the first big and modern car.
comfirmed that they
Just like Volvo, SAAB has
intended to sell the
had pretty serious
company to the Chinese
economical problems in the
Geely. Though the company recent years and has been
is mostly owned by Geely,
sold back and forth between
Volvo is still associated with several international
Sweden, both by Swedes
companies.
themselves and by people
H&M is a multinational
from other countries.
clothes company. The
IKEA stands for Ingvar
company sells clothes for
Kamprad Elmtaryd
alla genders and ages and
Agunnaryd, where Elmtaryd are known for their ”fast
is the farm Ingvar Kamprad fashion” clothing. If you
(the founder) lived in and
look at the number of stores
Agunnaryd is the town he
around the world, H&M is
grew up in. Ingvar Kamprad currently on the third place
founded the furniture
with about 3000 stores in
company in 1943 as a 17
52 countries.
year old boy. The company
has crown succesfully into a
extremely popular furniture
store, known for it´s
modern design and eco16