welcome dear reader in cyber not in the position number 24 of our ranking is the country Sweden Sweden is one of world richest country in this video we will describe the Sweden economy and its wealth we ask you to support our channel your valuable subscription and that you can activate the doorbell so that you continue to receive videos like this position number 24 Sweden GDP five hundred twenty eight point nine three billion dollars equivalent to fifty eight thousand three hundred forty five dollars per inhabitant job creation was particularly strong in 2017 which helped lower the unemployment rate to 6.2 percent in 2018 the tertiary sector employs 80 point four percent of the active population and represents sixty five point two percent of GDP driven by telecommunications and computer equipment the industry sector contributes twenty two point one percent of GDP and employs about 18 percent of the workforce Sweden’s economy is a developed export oriented economy aided by wood hydroelectric power and iron ore these constitute the resource base of an economy oriented to foreign trade major industries include automotive vehicles telecommunications pharmaceuticals industrial machines precision equipment chemicals household items and appliances forestry iron and steel traditionally a modern agricultural economy that employed more than half of the domestic workforce today Sweden further develops the engineering mining steel industries that are internationally competitive as evidenced by companies such as Ericsson Isaiah AB SKF Alfa Laval Agha and Dino Noble Sweden as an open competitive and highly liberalized market economy the vast majority of Swedish companies are privately owned and market oriented combined with a strong welfare state that involves transfer payments that involve up to three fifths of GDP in 2014 the percentage of national wealth owned by the government was twenty four percent Sweden has achieved a high standard of living under a mixed system of high-tech capitalism and broad welfare benefits because Sweden is a neutral country that did not actively participate in World War two it did not have to rebuild its economic base the banking system and the country in general as many other European countries did telecommunications and the automotive and pharmaceutical industry are also of great importance agriculture has only 2% of the workforce the new sectors of Technology and biotechnology are of significant importance in the economy main industries iron and steel precision equipment bearings radio telephone parts armaments and paper processed foods Motor Vehicles exports 169 point seven billion dollars year 2017 goods exported from Sweden machinery motor vehicles paper products and wood iron and steel products chemicals military armaments imports 150 four point eight billion dollars year 2017 goods imported into Sweden machinery oil and petroleum products chemicals motor vehicles iron and steel food clothes in the following video of our ranking the country Thailand is located we ask for your valuable subscription to our channel share the information and help us without like share and comment below what is your perspective of world wealth in the following video the 23 th place in our ranking of the 25 richest countries in the world Thailand

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