Sweden Global Economy

Sweden Global Economy

Wednesday, October 1, 2014

8.30 SEK

Vol XCIII, No. 311

Demographics of Sweden

Graphic Location of Sweden

People Who Live In Sweden

Advantages and Disadvantages

Economic Snapshot of Sweden

Business Climate

Sweden does not have a hard time exporting or importing goods because of their location. Sweden is right next to the water so it is easy for them to get around. The only opsticle in their way is Demark. Going around Denmark can be a hassle.

Economic Summary:

GDP Growth - 2.8 - The gross domestic product

Condumer Spending - 2.4 - Total Dollar Value

Industrial Production - 4.4 - Is a measure of output of the industrial sector

Investment - 5.5 - The action or process of investing money for profit or material result.

Unemplyment rate - 9.9 - People not working

Inflation - 1.4 - The amount of prices rising

Sweden is the 3rd largest EU country in land area, after France and Spain.

Sweden Imports and Exports

Swedish Currency

Business Etiquette

Major Swedish Companies

Swedish Krona

Major Companies

Sweden is one of the world's leading countries in coporate social responsibilty. In Sweden, punctuality is very important both when doing business and making social engagements. In business, gifts are rarely given at the beginning of the relationship. Business dress code for Sweden is casual dress code and it is the most popular in the work place.

Major Exports

1. Nuclear reactors, boilers, machinery, etc

2. Electrical, electronic equipment

3. Vehicles other than railway, tramway

4. Mineral fuels, oils, distillation products

5. Paper & paperboard, articles of pulp, paper and board

Major Imports

1. Mineral fuels, oils, distillation products, etc

2. Nuclear reactors, boilers, machinery, etc

3. Electrical, electronic equipment

4. Vehicles other than railway, tramway

5. Plastics and articles thereof

StockHolm

Stock Exchange

Volvo Cars

Spotify

Skype

H&M

Ikea

SoundCloud

Luxor

Swedish Krona

-Swedish Krona 1.00 SEK inv. 1.00 SEK

- The symbol for Swedish Krona is kr

-1.00 SEK = 0.138545 USD

A Business Entering Sweden

Facts for an Entrepreneur in Sweden

Barriers to Trade

My Reccomendations For A Business Entering Sweden:

-Tariffs

-Quotas

-Embargos

Tariffs- Excise duty is payable on for example tobacco and alcohol.

Additional customs fees can be charged to cover the expense of performing any required examinations, verification and or testing of the imported goods.

Quotas- Quotas applying to less developed countries will be phased out in the year 2005. The EU’s relatively frequent use of anti-dumping measures against Asia and Central and Eastern Europe, and its agricultural policy, which includes more export subsidies and border protection, are other examples of differences in trade policy where Sweden has made adjustments.

Embargos- Three quarters of Sweden's trade is conducted in the EU internal market. The Government's ultimate aim is for Sweden to belong to the core of the EU and to be an active and constructive force in EU cooperation.

-The Swedish paradox: Swedes perceive good opportunities to start a business, but very few actually do, and among those who start a business growth aspirations are modest.

- In spite of this, entrepreneurship in Sweden is low when compared internationally. And those entrepreneurs who actually do start a business have relatively low ambitions, both regarding internationalization and job creation.

-Sweden is also at the top in terms of individuals believing they can identify good business opportunities where they live

- Women are actually found at a higher power in a buisness.

- The distractions from others is not tolerated in Sweden.

- The Swedish approach, meetings can be lengthy and verbose.

- Punctuality is essential in Sweden. Lack of punctuality can undermine professional credibility.