• GDP: US$255.4 billion.
• Main imports: Machinery, motor vehicles, paper products, pulp and wood, iron and steel products and chemicals.
• Main exports: Machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel, foodstuffs and clothing.
• Main trade partners: Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, UK and USA.

Sweden boasts one of Europe’s most advanced industrial economies and one of the highest standards of social welfare in the world. It also boasts a relatively large number of world-class multinational companies (Ericsson, Volvo). A prolonged period of peace, which included a policy of neutrality during both World Wars, has contributed much to its economic development. Over half of the country is covered by forest, supplying raw material for the wood-based industries – paper, wood pulp and finished products such as furniture – which account for 20 per cent of Swedish material exports. Most of the country’s agriculture is concentrated in the south and central regions and produces dairy products, meat, cereals and vegetables. The agricultural and fisheries sector is, however, fairly insignificant today, accounting for just 2 per cent of GDP. Sweden has a strong industrial sector which produces a number of major exports including vehicles, office and telecommunications equipment, iron and steel, wood products and chemicals. The country is rich in mineral resources, which include 15 per cent of the world’s known uranium deposits and large deposits of iron ore, copper, lead and zinc. Lacking fossil fuel deposits, Sweden has large nuclear power and hydroelectric programmes, which meet over 80 per cent of its energy needs.
Sweden was a long-standing member of the European Free Trade Association (EFTA), which linked most Western European economies outside the European Union, before it finally joined the EU in 1995. But there is a strong Euro-sceptic current: so far the Swedes have refused to join the Euro-zone, most recently at a national referendum in September 2003 (despite the endorsement of the national government).
Domestic economic policy has been mainly concerned with making the labour market more flexible and with addressing Sweden’s large government debt. The economy was in recession between 1999 and 2002, but is now slowly recovering. Current annual GDP growth was 3.6 in 2004 and dropped to 2.1 in 2005. Both inflation and unemployment (0.6 and 5 per cent, respectively) are close to the EU average.

Businesspeople are expected to dress smartly. English is widely spoken in business circles. Punctuality is important for business and social occasions. Business cards are commonly used. Office hours: Flexible working hours are a widespread practice, with lunch between 1200-1300.

Stockholm Chamber of Commerce
Box 16050, 10321 Stockholm, Sweden
Tel: (8) 5551 0076.
Website: www.chamber.se
There are also chambers of commerce for other major towns and regions in Sweden.

Stockholm Visitors Board (Information on Conferences/Conventions)
PO Box 16282, SE-103 25 Stockholm, Sweden
Tel: (8) 508 28500.
Website: www.stockholmtown.com

Gothenburg Convention Centre (Information on Conferences/Conventions)
Mässans Gata 8, SE-412 51 Gothenburg, Sweden
Tel: (31) 708 8390.
Website: www.gcc.se

Malmö Tourist Convention Bureau (Information on Conferences/Conventions)
Lugnagatan 84, SE-21159 Malmö, Sweden
Tel: (40) 342 204.
Website: www.malmo.se/conference
For a hotel and conference guide.