Economy Sweden
Economy - overview: Aided by peace and neutrality for the whole 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent 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 2% of GDP and 2% of the jobs. The government's commitment to fiscal discipline resulted in a substantive budgetary surplus in 2001, but is expected to shrink somewhat in 2002, due to the global economic slowdown, tax cuts, and spending increases. The Swedish central bank (the Riksbank) is focusing on price stability with an inflation target of 2% for 2002.
GDP: purchasing power parity - $219 billion (2001 est.)
GDP - real growth rate: 1.6% (2001 est.)
GDP - per capita: purchasing power parity - $24,700 (2001 est.)
GDP - composition by sector: agriculture: 2% industry: 28.7% services: 69.3% (2000)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 3.7% highest 10%: 20.1% (1992)
Distribution of family income - Gini index: 25 (1992)
Inflation rate (consumer prices): 2.7% (2001 est.)