SON
chancery: 1501 M Street NW, Washington, DC 20005-1702
telephone: [1] (202) 467-2600
FAX: [1] (202) 467-2699
consulate(s) general: Los Angeles and New York

Diplomatic representation from the US:
chief of mission: Ambassador M. Teel BIVINS
embassy: Dag Hammarskjolds VAG 31, SE-11589 Stockholm
mailing address: American Embassy Stockholm, Department of State,
5750 Stockholm Place, Washington, DC 20521-5750 (pouch)
telephone: [46] (08) 783 53 00
FAX: [46] (08) 661 19 64

Flag description:
blue with a golden yellow cross extending to the edges of the flag;
the vertical part of the cross is shifted to the hoist side in the
style of the Dannebrog (Danish flag)

Economy Sweden

Economy - overview:
Aided by peace and neutrality for the whole 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 skilled labor force. Timber, hydropower, and iron ore
constitute the resource base of an economy heavily oriented toward
foreign trade. Privately owned firms account for about 90% of
industrial output, of which the engineering sector accounts for 50%
of output and exports. Agriculture accounts for only 2% of GDP and
2% of the jobs. The government's commitment to fiscal discipline
resulted in a substantial budgetary surplus in 2001, which was cut
by more than half in 2002, due to the global economic slowdown,
declining revenue, and increased spending. The Swedish central bank
(the Riksbank) focuses on price stability with its inflation target
of 2%. Growth remained sluggish in 2003, but picked up in 2004.
Presumably because of generous sicktime benefits, Swedish workers
report in sick more often than other Europeans. On 14 September
2003, Swedish voters turned down entry into the euro system,
concerned about the impact on democracy and sovereignty.

GDP (purchasing power parity):
$255.4 billion (2004 est.)

GDP - real growth rate:
3.6% (2004 est.)

GDP - per capita:
purchasing power parity - $28,400 (2004 est.)

GDP - composition by sector:
agriculture: 2%
industry: 29%
services: 69% (2001)

Labor force:
4.46 million (2004 est.)

Labor force - by occupation:
agriculture 2%, industry 24%, services 74% (2000 est.)

Unemployment rate:
5.6% (2004 est.)