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 2019)

Population (million)10
GDP (billion USD)531
GDP per capita (USD)51,600
GDP per capita PPP (USD) 55,819
Purchasing power per dollar, compared to the USA77%
Surface area (sq km)447,420
% of population living in urban areas88%
% of GDP added by agriculture – industry – services1% – 22% – 65%
Ease of doing business index (1 = best, 189 = lowest)10

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

Sweden ranks 10th out of 189 world economies, in ‘ease of doing business’. In ‘trading across borders’, the country ranks 18th, 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 2021

 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 February 6, 2021 by specialist.