With a population of 5,700,000, distributed over an area of 448,000 square kilometers, (170,977 square miles,) as compared with 9,415,000 square kilometers (3,025,600 square miles) in the United States, Sweden, in comparison with European countries in general, is very sparsely inhabited. The possibilities for growth and development, however, are great owing to natural resources, which are both rich and varied. Of Sweden's area, 40,000 square kilometers (15,266 square miles) is cultivated land. The value of the annual production of grain is estimated at about 340,000,000 kroner, (about $91,900,000,) offset by an import of grain which exceeds the export by about 70,000,000 kroner, (about $18,900,000.) From this it appears that agriculture as yet retains its place as the principal industry of the country. With the bigger half of the country's area timber and the rivers well adapted to logging, Sweden quite naturally has become one of the foremost countries in the world in the export of lumber, wood pulp, and manufactured wood. Another natural product of Sweden, and one of the utmost importance, is iron ore, of which there was exported in 1913 to the value of about 69,000,000 kroner, (about $18,500,000,) chiefly from the large mineral fields in the northernmost part of the country. Besides this production of raw material, Sweden has important manufacturing industries which thrive as a result of the abundant supply of water power, an extensive network of railroads, and a shipping industry which is in a state of flourishing development.
The total output of our Swedish industries (mining not included) in 1912 was appraised at a net (manufacturing) value of 1,778,000,000 kroner, (about $481,600,000.) Of this total, 476,000,000 kroner (about $128,600,000) represents foodstuffs and luxuries, 353,000,000 kroner (about $95,400,000) wood products, &c.; 222,000,000 kroner ($60,000,000) textile products, and so on.
A few figures will illustrate Sweden's exchange of products with foreign countries. In 1912 the foreign trade of Sweden reached a total of 1,554,000,000 kroner, (about $420,000,000.) The imports aggregated 794,000,000 kroner (about $214,600,000) and the exports 760,000,000 kroner, (about $205,400,000,) thus showing a relatively advantageous trade balance. Of the imported values, 28 per cent. was foodstuffs and luxuries, 45 per cent. raw materials, and 26 per cent. articles manufactured either wholly or in part. Of the exports, 14 per cent. was foodstuffs and luxuries, 23 per cent. raw materials, and not less than 63 per cent. articles of manufacture, finished completely or in part.
The principal industrial products represented among these exports are enumerated here:
| Kroner | ||
| Wood products | 1,912,000,000 | $516,700,000[3] |
| Pulp and paper | 134,000,000 | 36,000,000 |
| Metal products | 105,000,000 | 28,400,000 |
| Machinery | 56,000,000 | 15,400,000 |
| Matches | 16,000,000 | 4,300,000 |
| Pottery products | 15,000,000 | 4,000,000 |
With regard to our exports, there have been especially large increases in those of pulp and machinery. The principal types of machinery which figure among the exports of Sweden are milk separators, oil motors, telephone apparatus, electric engines, and ball bearings. In these exports are plainly indicated the inventive genius of the Swedes and their aptitude for technical and industrial pursuits.
With reference to the Swedish railroads, this fact is deserving of mention: Sweden leads all Europe with 2.5 kilometers to each 1,000 inhabitants, (United States has 4.14 kilometers.) The mercantile marine of Sweden has experienced powerful growth in recent years. In 1912, with a net tonnage of 805,000, it held the sixth place among the merchant fleets of Europe, being ahead of, among other countries, Spain, Russia, and the Netherlands. Especially has the growth in Sweden's merchant marine been pronounced since 1904, when the first regular ocean lines with Swedish vessels were established. Today Swedish steamship lines are maintaining regular traffic with all parts of the world. Thus, among other things, Sweden has established freight lines, with steamers plying to both the east and west coasts of North America. Quite recently, despite the financial crisis brought on by the war, a company has been formed with the object of establishing passenger traffic with Swedish steamships of high speed between Gothenburg and either New York or Boston.
After scrutinizing these figures the reader ought not to be surprised at the assertion that Sweden is exceptionally well situated from an economical point of view, and, perhaps, is among the countries which have been least affected by the economical crisis consequent upon the war. The national debt of Sweden, which was created very largely with a view to financing the construction of the Government railroads and for other productive purposes, is at present only 720,000,000 kroner, (about $194,500,000.) This is only 126 kroner (a small fraction above $34) for each inhabitant, while the corresponding figure for France in 1913 was 591 kroner, (nearly $160;) the Netherlands, 282 kroner, ($70.62;) Great Britain, 280 kroner, ($70.57;) Germany, 276 kroner, ($70.40;) Italy, 270 kroner, ($70.30,) &c. Against the national debt of 720,000,000 kroner (about $194,500,000) Sweden has Crown assets at this time appraised at 1,761,000,000 kroner net, (nearly $476,000,000.)
Another evidence of the splendid financial condition of Sweden is afforded in the fact that, since the war broke out and countries which under normal conditions might be looked to for loans had closed their markets to foreign nations, the domestic market has been able to supply fully all, both public and private, demands for funds. Thus, when the Swedish Government, early last October, sought a loan of 30,000,000 kroner at home, this was fully subscribed in three days. Nor have municipalities or private banks encountered any difficulty in placing bonds for amounts of considerable size in the domestic market. The only loan for which the Swedish Government has contracted abroad during the crisis was for $5,000,000, and this was placed in New York for the purpose of facilitating payments for large purchases of American grain.
