Sweden is a Scandinavian country located in the Northern Europe. Notably, it has an area of 450,295 square kilometers (one of the largest countries in Europe) and borders with such countries as Norway and Finland. Additionally, Sweden and Denmark are connected by a bridge tunnel known as Oresund. Despite the fact that Sweden has a population of 9.5 million people, at least 85% of its inhabitants live in urban areas. The capital city of Sweden is Stockholm.
Unlike most other European countries, Sweden has a well-established Constitutional Monarchial system of government to ensure political stability in the country. Sweden’s political stability greatly contributes to its economic management being ranked the world’s eight per capital income country. Furthermore, in 2010 Sweden was ranked as the second world’s most competitive country immediately after Switzerland by the World Economic Forum. The Swedish works for unrestricted, straightforward and fair conditions for intercontinental trade as well as business ventures, for instance, in intercontinental trade negotiations. Trade rules are meant to contribute to development, employment as well as sustainable growth. Connectively, the Swedish Trade Council is a joint venture involving the Government of Sweden and the Swedish trade industry with intent of promoting, supporting and creating chances for Swedish exports. Occasionally, it gives common ideas on trade with Sweden, and can speedily recognize the right contractor for a potential importer appreciation to widespread set-up in the Swedish industry.
Dissimilar to nearly all other European states, Sweden maintained an unemployment rate approximately 2% otherwise 3% of the labor force during the 1980s. However, this came handy with a high and hastening inflation. Subsequently, it became obvious that such minimal unemployment rates were not ideal, and in the harsh disaster of the early 1990s the rate amplified to more than 8%. Notably, during 2000 the employment rate went up by 90,000 persons, the utmost increase in almost 40 years, and the aim was arrived at in the end of 2000. The same year the government formulated its new objective that 80% of the working age inhabitants will have a habitual occupation as at 2004. However, some have addressed anxiety that meeting the working objective may cause an expenditure of extremely high a rate of salary adjustments, thus escalating inflation. Notably, the current Sweden’s unemployment rate is 7%.
Regarding the high profile in the economy of Sweden, the country has trade partners whom they involve in importation and exportation of goods together. Sweden’s main exports are machinery, chemicals, motor vehicle, paper products and wood pulp. These have greatly contributed to the growth of the Swedish economy annually. The notable exports partners of Sweden are Germany, Norway, United Kingdom, United States and Belgium among others. All of the aforementioned countries greatly contribute to the economy of Sweden since it thrives on its exports as well as the industrial sector. In spite of the global financial crisis, judging from the Sweden’s economic indicators, the country is able to control harsh economic situation. Sweden exports and pro-free trades are one of the most internationally integrated in the world. The Swedish import partners are more of same like the export partners, those are Denmark, Germany, United States, France and Belgium among others. Notably, machinery, petroleum products, chemicals, motor vehicle, foodstuffs and clothing are the common imports of Sweden.