Strategy for international business in Sweden

Strategy for international business in Sweden

Proven business strategy for international business in Sweden

Sweden ranks among the highest in the world for quality of life, education, financial development, environmental preservation, health and human development. It is an export oriented mixed economy that relies heavily on foreign trade. Sweden is the admired place of origin for many successful global brands including IKEA, Atlas Copco, Sandvik, Electrolux, SKF, Volvo Personvagner and more.

Sweden’s vital points (as of 2016)

Population (million) 10
GDP (billion USD) 511
GDP per capita (USD) 51,600
GDP per capita PPP (USD) 49,175
Purchasing power per dollar, compared to the USA 77%
Surface area (sq km) 447,420
% of population living in urban areas 86%
% of GDP added by agriculture - industry - services 1% - 26% - 73%
Ease of doing business index (1 = best, 189 = lowest) 11

What is Sweden’s business Index and its major business sectors?

Sweden ranks 11th out of 189 world economies, in ‘ease of doing business’. In ‘trading across borders’, the country ranks 4th, projecting the effects of its liberal trade policies.

Sweden’s major industries include:

  • Iron and steel
  • Precision equipment
  • Wood pulp and paper products
  • Processed foods
  • Motor vehicles

What are Sweden’s top export commodities?

  • Machinery
  • Motor Vehicles
  • Paper products
  • Pulp and wood
  • Iron and steel products
  • Chemicals

What is Sweden’s political system and election process?

The Swedish political system is a known as a parliamentary representative democratic constitutional monarchy. General elections are held every four years. The Swedish parliament is known as the Riksdag. The Riksdag makes decisions which the government implements.

Sweden’s national holidays 2016

 Holiday  Date
 New Year’s Day  January 1
 Twelfth Night (De Facto Half Holiday)  January 5
 Epiphany  January 6
 Good Friday  March 25
 Holy Saturday  March 26
 Easter Day  March 27
 Easter Monday  March 28
 Walpurgis Night (De Facto Half Holiday)  April 30
 May 1st Holiday  May 1
 Ascension Day  May 5
 Pentecost Eve (De Facto Half Holiday)  May 14
 Whit Sunday  May 15
 Mother’s Day (De Facto Holiday)  March 29
 National Day  June 6
 Midsummer Eve (De Facto Holiday)  June 24
 Midsummer Day  June 25
 All Saints’ Eve (De Facto Half Holiday)  November 4
 All Saints’ Day  November 5
 Christmas Eve (De Facto Holiday)  December 24
Christmas Day  December 25
Boxing Day  December 26
New Year’s Eve (De Facto Holiday)  December 31

Swedish Business and Trade Potential

Swedish business interests are wide, making it host to numerous trade shows throughout the year. The shows and events cover sectors such as Food and Beverage, Décor, Horticulture, Tourism, Photography, targeting all age and interest groups.

On the trade front, Sweden’s broad-minded trade policies have supported an easy import system, and a competitive environment within the dynamic Swedish business field. As a part of the European Union and subsequently the World Trade Organisation (WTO), Sweden is an active participant in the mission to solidify and strengthen the open multilateral trading system within the WTO.

Sweden is considered among the top ten countries in the world for promising business growth by Forbes magazine, ranking at 9. It is a world leader in innovation as it evolves at every step. Open to change, fresh influences and new mindsets, Sweden is a highly progressive nation that's why a proven business strategy is a must to learn.

This entry in Europe was updated on September 19, 2018 by specialist.