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Sweden is a country with a dynamic economy


02.04.2020 (№ LDaily #10)

Sweden is a country with a dynamic economy

Everyone has heard about Sweden from childhood, as it was Stockholm where the well-known fairytale heroes The Kid and Carlson lived. Let’s add here favorite of all IKEA, the band ABBA, cars of Volvo and Scania, companies like Spotify, Ericsson, H&M, Electrolux and μTorrent – the vision of the nation is made up of pieces. 

As habitants of Sweden affirm, the better place for doing business is hard to find. This relates both to residents and citizens of other countries, who have the opportunity to buy, sell and invest projects on equal rights with the Swedes. 

Dynamic economy 

Nowadays, Sweden has a successful, diversify and exceptionally competitive economy. The open and liberal approach to international trade is defining lines of the national economy. For the prosperity of a small country with a huge economy, an emphasis on export is essentially important. Sweden enterprises sell abroad the widest assortment of goods. The country keeps a positive trade surplus from year to year.  

Together with the prosperity of traditional branches, Sweden made a jump-start growth in the modern economy sectors over the past decades – digital technologies and telecommunications. The most stunning examples of success are the IP telephony developer Skype and musical streaming service Spotify.   

The Swedes do not stop on achieved. For a decade, the share of informational technologies went up to 16% and already 5% of the working-age population is employed in the IT industry. Its distinctive feature in Sweden is a huge amount of young entrepreneurs in a small business. No wonder that Stockholm was recognized as one of the best European cities to launch startups in the sphere of digital technologies.  

Startups can get grants, participate in different business incubators, financed by the government. For young entrepreneurs, there is a system of social protection, a so-called safety cushion, which can insure them while they start a business.  

The capital is the main but not the only economical center. The prosperity level in Sweden is divided into its regions much more equal than anywhere in Europe. It is representational that this is the only country of the Old World, where in every even the least rich corner, the GDP share per capita is higher than on the average in Europe. The powerful economy and the high level of living are about modern Sweden in general.  

Swedish prosperity is based on lessons which the country learned after the turmoil of the 1990s. Heavy reforms were justified, the same as the need for reliability of the treasury – now this is the admitted fact for Swedes, which are guided during the discussion of new laws. Sweden combines a well-considered financial policy with openness to foreign markets, development of competition and innovations, and decisive prevention of any kind of corruption. All these are components of Swedish success. 

Stockholm is the European ecological capital

In 2010, thanks to efforts in living standards improvements, the European Commission called Stockholm the first European Green Capital. Work in this direction involves water reclamation, noise abatement, integrated waste management, the imposition of road traffic tax and recreation area widening. Thus, since 2016, the municipality of Stockholm has turned habitants and guests of the city to use public transport, starting to charge for entry and exit the city.   

To understand how everything works as a whole, it is worth a visit Hammarby Sjöstad. The part where the industrial zone was located in the early 1990s is now the most prestigious and expensive part of the Swedish capital.

All waste in the country are standardized minimum in four independent systems and are recycled, accordingly, on heating, biogas, water for building heating systems and artificial reservoirs, which, in turn, produce electricity.   

In Sweden, business is conservative about expenses

Although cultural assumptions and active participation of the Swedish government help startups grow up in full companies, conservative fiscal policy and discipline help them survive in the market. They save where they can: no luxury business class flights even for top management – this is not accepted in Sweden.

International relations between Ukraine and Sweden

In the world community, Sweden is known for stability in its neutrality and not joining to any military blocs. That is why many Swedish statesmen have authority with the international stage, often acting as mediators in the arrangement of different conflicts. 

In terms of Swedish aid, Ukraine is an absolute leader not only among the countries of the Eastern Partnership, but also in comparison with the countries of Western Balkans and Turkey. Sweden continues to help Ukraine despite political changes and reforms backwards. Today, Sweden expects to see more significant results of its support in the fight against corruption, reforming the state machine and economy, as well as in the development of democratic institutions. 

There are no contradictions concerning support of Ukraine among the main Swedish political forces. One of the reasons for such unanimity is that all parties, including populist, appeal to values such as human rights.  


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