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 highly skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and growth continued downward in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden''s banking sector drove the strong rebound in 2010, which continued in 2011, and the government is proposing stimulus measures in the 2012 budget to curb the effects of a global economic slowdown and boost employment and growth.

Data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are not sold at public auctions.

$229.1 billion (31 December 2011 est.)

$235.6 billion (31 December 2010 est.)

$440.2 billion (31 December 2011 est.)

$298.8 billion (31 December 2010 est.)

$790.7 billion (31 December 2011 est.)

$705.4 billion (31 December 2010 est.)

$470.1 billion (31 December 2011)

$581.2 billion (31 December 2010)

$432.3 billion (31 December 2009)

Barley, wheat, sugar beets; meat, milk

Iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

Machinery 35%, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals

Germany 10.5%, Norway 9.3%, UK 7.4%, Denmark 6.5%, Finland 6.5%, US 5.5%, Netherlands 5.2%, France 4.9%, Belgium 4.8% (2011)

Machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing

Germany 18.4%, Denmark 8.2%, Norway 7.8%, Netherlands 6.1%, UK 5.9%, Russia 5.7%, Finland 5.3%, China 4.7%, France 4.6% (2011)

$50.35 billion (31 December 2011 est.)

$48.3 billion (31 December 2010 est.)

$360.8 billion (31 December 2011 est.)

$348.6 billion (31 December 2010 est.)

$364.2 billion (31 December 2011 est.)

$336.1 billion (31 December 2010 est.)

Swedish kronor (SEK) per US dollar -