Willamette World News

Willamette World News

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Sweden’s Economy

According to the latest development report published by the Organization for Economic Cooperation and Development (OECD), Sweden is the 9th most prosperous developed nation. The annual table showing countries’ national output adjusted for the purchasing power of their currencies, published by the OECD, placed Sweden as number nine.

This is an advance from 14th place in 2006 and Sweden is now ahead of countries like Germany, the UK, Japan and France. Still, the beginning of 2008 has not been prosperous for Sweden. The Stockholm stock exchange index has gone down with 10 percent since January and the State’ largest stock investments; the telephone company TeliaSonera, the bank Nordea and the airline SAS went down by 20%. The Swedish medicine export to the U.S. decreased last year because of the American economy and the dollar-rate, while the Swedish tree export to Germany went up. A recent investigation by the insurance company Länsförsäkringar says that when Swedes have money to spare their main priority is pleasure. One third spend their money on traveling, barely 20 percent on their housing and 20 percent on saving. They rest declare that they spend their money on mortgages, the car, charity and their kids. The investigation also shows that people ages 16 to 24 years tend to save a lot more than people in the age bracket 40-69, if they have money to spare. For more information about Sweden and economy go to www.scb.se

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