Abstract
The economy of Sweden is a developed export-oriented diverse economy aided by timber, hydropower and iron ore. These constitute the resource base of an economy oriented toward foreign trade. The main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry, iron and steel. Traditionally, a modernized agricultural economy that used to be employing over half of the domestic workforce, today, Sweden further develops engineering, mine, steel and pulp industries that are competitive internationally such as the companies of LM Ericsson, ASEA/ABB, SKF, Alfa Laval, Aga and Dyno Nobel.
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