Sweeden

Basic Facts

Cultre

Major Trading

The Swedish culture is well known as being egalitarian and very tolerant in nature. Sweden has been known for this since the early 90s. The swedish culture has deliberately embraced feminist, anti-racist and anti-fascist views. The swedish culture is more focused on the welfare and well-being of others than any other country. This is not only shown inside there country but carried outside there country through there citizens. Sweden is also the country responsible for the viking culture. This culture now dominates Scandinavian countries. This is the basic culture of Sweden

• There are over 9.5 million people living in Sweden
• The capital of Sweden is Stockholm
• The national language is swedish
• About 90% of people in Sweden also speak English
• Sweden is 3rd largest country in the EU (land mass)
• Sweden is situated between Norway and Finland
• The currency of Sweden is the swedish krona
• The area of Sweden is about 450,000km2
• Sweden is a Parliamentary democracy
• Ikea was founded in Sweden in 1943
• 50% of Sweden is covered by forested

Major Trading Partners

Imports & Exports

Sweden being a part of the (EU) makes many trades within that group they most import:

• Machinery
• Petroleum Products
• Chemicals
• iron and steel
• Clothing

Sweden has many trading partners, here is a list of there main ones:

• Germany - 18.0%
• Netherlands - 8.3%
• Norway - 8.2% (Scandinavian)
• Denmark - 7.7% (Scandinavian)
• United Kingdom - 5.5%
• China - 5.1%
• Finland - 4.6%
• Belgium - 4.4%
• France 4.3%

Sweden mostly exports products in industries such as:

• Telecommunications
• Equipment
• Wood pulp
• Paper Products
• Motor vehicles

Popular Events and Traditions

Different Traditions

Walpurgis Night

Walpurgis Eve is the last day of April in Sweden, this marks the beginning of Spring. Spring is greeted with a celebration involving bon fires and singing. These celebrations are then followed by speeches and demonstrations on the 1st of may by political figures.

In Sweden they have many holiday events and traditions there are similar too ours such as:

• Easter
• National Day
• Christmas Eve and day
• Boxing day
• New years Eve
• Advent

Crayfish Parties

A Crayfish party is a traditional summertime eating and drinking celebration. It is mostly celebrated in Nordic countries such as Finland but originated in Sweden. This tradition began because Crayfish harvesting was most for the most part legally limited. Today the Crayfish party in August has no legal signification but it celebrated annually.

Lucia

Although there are also diffrent holidays that we will go into ther detail on.

Lucia is an annual candlelit procession on the 13th of December. Its considered one of the most exotic-looking swedish customs. During this celebrations girls and boys wear white full-length gowns while singing songs together. It is somewhat of a competition to be chosen to be the national Lucia which translates to the "bearer of light". Among the youngest anyone can be chosen to be the Lucia untill they grow older. This is a very special traditions.

International Business

Trading

Barriers to conducting international business

Trade agreements

Sweden depends heavily on foreign trade.

It 1995 Sweden joined the EU (european union)

which makes trading for Sweden between other European nations much easier.

Another agreement which Sweden is apart of is the WTO (world trade organization) which makes international trade easier.

As i said before Sweden are apart of the European union, and most of the time goods are able to be traded within the EU freely. However companies could still come across trade barriers such as fees, technical barriers, special documentation requirements at the border and many other's. Small companies would be affected by these and it would be harder to over come the barriers.

Benefits and Risks of Trade

Benefits to trading with Sweden

Problems & risks to consider when doing business in Sweden

A benefit with trading with Sweden is because it is apart of the EU it follows many of the same rules as other countries in the EU. This is also a benefit because if you can trade well with other countries in the EU, you will most likely be able to trade in Sweden.

According to Michigan State University Sweden Business environment is very good this is because they state that there "Corporate financial information is available and reliable" They gave Sweden's Business climate rating an A1 meaning very low risk. Although they are very reliable they do have some risks including, Highly concentrated banking sector, Aging population and Significant household debt. These are the only negatives in Sweden's business economy.

Sweden

@. (n.d.). Quick facts about Sweden. Retrieved October 16, 2016, from https://studyinsweden.se/why-sweden/quick-facts-about-sweden/

Trade barriers in the EU. (n.d.). Retrieved October 16, 2016, from http://www.swedenabroad.com/en-GB/Embassies/Rome/Business/Trade-barriers-in-the-EU/

Sweden. (n.d.). Retrieved October 16, 2016, from https://en.wikipedia.org/wiki/Sweden

Sweden.se | The official site of Sweden. (n.d.). Retrieved October 16, 2016, from https://sweden.se/

By Josh Barca and Lucas Benjamin