Diplomatic representation: Ambassador Anders THUNBORG; Chancery at
Suite 1200, 600 New Hampshire Avenue NW, Washington DC 20037;
telephone (202) 944-5600; there are Swedish Consulates General in Chicago,
Los Angeles, Minneapolis, and New York;
US—Ambassador Charles E. REDMAN; Embassy at Strandvagen 101,
S-115 27 Stockholm; telephone [46] (8) 7835300
Flag: blue with a yellow cross that 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)