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SWEDEN
Year of EU entry 1995
Political system Constitutional monarchy
Capital city Stockholm
Total area 450,000 km2
Population 8.9 million
Currency Swedish krona |
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Overview
Sweden has the largest population of the Nordic countries. It is separated in the west from Norway by a range of mountains. It shares the Gulf of Bothnia at the north end of the Baltic Sea with Finland.
The southern part of the country is chiefly agricultural, with forests covering an increasing percentage of the land the further north one goes. Population density is also higher in southern Sweden, with centres being in the valley of Lake Mälaren and the Öresund region.
In 1971 the Riksdag became a single-chamber parliament. Its 349 members are elected on the basis of proportional representation for a four-year term.
The country has at least 17,000 indigenous Samis (or Lapps) among its population. It also has a minority of ethnic Finns.
Sweden exports cars, engineering products, steel, electronic devices, communications equipment and paper products.
Swedes played a pioneering role of the early days of cinema, with Mauritz Stiller and Victor Sjöström. Later on, directors such as Ingmar Bergman and actresses such as Greta Garbo, Ingrid Bergman and Anita Ekberg made careers abroad. Swedish music is, in many minds, synonymous with ABBA.
The Swedish cuisine is known for its Smorgåsbord (a buffet of savoury delicacies), Baltic herring, pea soup and pancakes.
Economy
Aided by peace and neutrality for the whole of the 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 labour 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 jobs.
The government's commitment to fiscal discipline resulted in a substantial budgetary surplus in 2001, which was cut by more than half in 2002, due to the global economic slowdown, declining revenue, and increased spending. The Swedish central bank (the Riksbank) focuses on price stability with its inflation target of 2%. Growth remained sluggish in 2003, but picked up in 2004 and 2005. Presumably because of generous sick-leave benefits, Swedish workers report in sick more often than other Europeans. In September 2003, Swedish voters turned down entry into the euro system, concerned about the impact on democracy and sovereignty.
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