The Economy of Sweden is modern and highly industrialised. It has a modern distribution system, excellent internal and external communications, and a skilled labor force. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Main industries include motor vehicles, telecommunications, pharmaceuticals and forestry. ISO 4217 Code SEK User(s) Sweden Inflation 2. ... Wikiquote has a collection of quotations by or about: European Union The European Union On-Line Official EU website, europa. ... The Organization for Security and Co-operation in Europe (OSCE) is an international organization for security. ... For other uses of the initials WTO, see WTO (disambiguation). ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... One thousand million (1,000,000,000) is the natural number following 999,999,999 and preceding 1,000,000,001. ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... International Paper Company Wood pulp is the most common material used to make paper. ... For other uses, see Paper (disambiguation). ... General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ... For other uses, see Steel (disambiguation). ... It has been suggested that this article or section be merged into Development aid. ... USD redirects here. ... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... For the Bobby Womack album, see Communication (1972 album). ... This heap of iron ore pellets will be used in steel production. ... Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ...

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an excellent standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. The country is known for its high taxes and large public sector. Sweden has the second highest total tax revenue behind Denmark, as a share of the country's income. As of 2007, total tax revenue was 47.8% of GDP, down from 49.1% 2006.^[1] Neutral means balanced between two or more opposites. ... The standard of living refers to the quality and quantity of goods and services available to people and the way these services and goods are distributed within a population. ... There are three main interpretations of the idea of a welfare state: the provision of welfare services by the state. ... “Taxes” redirects here. ... < [[[[math>Insert formula here</math>The public sector is that part of economic and administrative life that deals with the delivery of goods and services by and for the [[government </math></math></math></math> Direct administration funded through taxation; the delivering organisation generally has no specific requirement to meet commercial... 2007 is a common year starting on Monday of the Gregorian calendar. ...

History

In the 19th century Sweden evolved from a largely agricultural economy into the beginnings of an industrialised, urbanised country. Poverty was still widespread in large sections of the population. However, incomes were sufficiently high to finance emigration to distant places, prompting a large portion of the country to leave, especially to the USA.

Economic reforms and the creation of a modern economic system, banks and corporations were enacted during the latter half of the 19th century. By the 1930s, Sweden had one of Europe's highest standards of living. Sweden declared itself neutral during both world wars, thereby avoiding much physical destruction like several other neutral countries.

The post-war boom propelled Sweden to greater economic prosperity, putting the country in third place in per capita GDP rankings by 1970.^[2] Beginning in the 1970s and culminating with the deep recession of the early 1990s, Swedish standards of living developed less favourably than many other industrialized countries. Since the mid 1990s the economic performance has improved.

In 2006, Sweden had the world's ninth highest GDP per capita in nominal terms and was in 14th place in PPP terms (2005 figures)^[3].

Crisis of the 1990s

Sweden has had a unique economic model in the post World War 2 era, characterized by close cooperation between the government, labor unions and corporations. The Swedish economy has extensive and universal social benefits funded by high taxes, close to 50% of GDP.^[4] In the 1980s, a real estate and financial bubble formed, driven by a rapid increase in lending. A restructuring of the tax system, in order to emphasize low inflation combined with an international economic slowdown in the early the 1990s, caused the bubble to burst. Between 1990 and 1993 GDP fell by 5% and unemployment skyrocketed, causing the worst economic crisis in Sweden since the 1930s. In 1992 there was a run on the currency, the central bank briefly jacking up interest to 500% in an unsuccessful effort to defend the currency's fixed exchange rate.^[5] Total employment fell by almost 10% during the crisis. German soldiers at the Battle of Stalingrad World War II was the most extensive and costly armed conflict in the history of the world, involving the great majority of the worlds nations, being fought simultaneously in several major theatres, and costing tens of millions of lives. ... ISO 4217 Code SEK User(s) Sweden Inflation 2. ... Sveriges Riksbank is the central bank of Sweden, sometimes called just the Bank of Sweden. ...

The welfare system that had been growing rapidly since the 1970s couldn't be sustained with a falling GDP, lower employment and larger welfare payments. In 1994 the government budget deficit exceeded 15% of GDP. The response of the government was to cut spending and institute a multitude of reforms to improve Sweden's competitiveness. When the international economic outlook improved combined with a rapid growth in the IT sector, which Sweden was able to capitalize from, the country was able to emerge from the crisis.^[6][7]

However, the reforms enacted during the 1990s seem to have created a model in which extensive welfare benefits can be maintained in a global economy.^[4]

Current economic outlook

Real GDP growth in Sweden 1996-2006.

The Swedish economic picture has brightened significantly since the severe recession in the early 1990s. Growth has been strong in recent years, and even though the growth in the economy slackened between 2001 and 2003, the growth rate has picked up since with an average growth rate of 3.7% in the last three years. The long-run prospects for growth remain favorable. The inflation rate is low and stable, with projections for continued low levels over the next 2-3 years. In macroeconomics, a Recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ...

Since the mid-1990s the export sector has been booming, acting as the main engine for economic growth. Swedish exports also have proven to be surprisingly robust. A marked shift in the structure of the exports, where services, the IT industry, and telecommunications have taken over from traditional industries such as steel, paper, and pulp, has made the Swedish export sector less vulnerable to international fluctuations. However, at the same time the Swedish industry has received less money for its exports while the import prices have gone up. During the period 1995-2003 the export prices were reduced by 4% at the same time as the import prices climbed by 11%. The net effect is that the Swedish terms-of-trade fell 13%. ^[8] World GDP/capita changed very little for most of human history before the industrial revolution. ... Copy of the original phone of Alexander Graham Bell at the Musée des Arts et Métiers in Paris Telecommunication is the assisted transmission of signals over a distance for the purpose of communication. ... For other uses, see Steel (disambiguation). ... For other uses, see Paper (disambiguation). ... International Paper Company Wood pulp is the most common material used to make paper. ...

Government

The government budget has improved dramatically from a record deficit of more than 12% of GDP in 1993. In the last decade, from 1998 to present, the government has run a surplus every year, except for 2003 and 2004. The surplus for 2007 is expected to be 138 billion ($20b) kronor.^[9] The new, strict budget process with spending ceilings set by parliament, and a constitutional change to an independent Central Bank, have greatly improved policy credibility. This can be seen in the long-term interest rate margin versus the Euro, which is negligible. This article is about the Swedish unit of currency. ... For the rental car company, see Budget Rent a Car. ... This article is about the Parliament of Sweden. ... For other uses, see Euro (disambiguation). ...

From the perspective of longer term fiscal sustainability, the long-awaited reform of old-age pensions entered into force in 1999. This entails a far more robust system vis-à-vis adverse demographic and economic trends, which should keep the ratio of total pension disbursements to the aggregate wage bill close to 20% in the decades ahead. Taken together, both fiscal consolidation and pension reform have brought public finances back on a sustainable footing. Gross public debt, which jumped from 43% of GDP in 1990 to 78% in 1994, stabilised around the middle of the 1990s and started to come down again more significantly beginning in 1999. In 2000 it fell below the key level of 60% and had declined to a level of 37% of GDP as of 2007^[10], and is expected to come down to a level below 20% of GDP in 2010. This article does not cite any references or sources. ... The demographics of Sweden has changed significantly as a result of immigration since World War II. In addition to the ethnic Swedish majority, Sweden has historically had smaller minorities of Sami people in the northernmost parts of the country and Finnish people in the Mälardalen and in the north...

Economic and Monetary Union

Current economic development reflects a quite remarkable improvement of the Swedish economy since the crisis in 1991-93, so that Sweden could easily qualify for membership in the third phase of the Economic and Monetary Union of the European Union, adopting the euro as its currency. In theory, by the rules of the EMU, Sweden is obliged to join, since the country has not obtained exception by any protocol or treaty (as opposed to Denmark and the United Kingdom). Nevertheless, the Swedish government decided in 1997 against joining the common currency from its start on January 1, 1999. For the concept in general, see economic and monetary union. ... For other uses, see Euro (disambiguation). ...

In the first years of the twenty-first century, a majority for joining emerged in the governing Social Democratic party, although the question was subject of heated debate, with leading personalities in the party on both sides. On September 14, 2003, a national referendum was held on the euro. A 56% majority of Swedes rejected the common currency, while 42% voted in favour of it. Currently no plans for a new referendum or parliamentary vote on the matter are being discussed, though it has been implied that another referendum may take place in around ten years.^[11] is the 257th day of the year (258th in leap years) in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Since the introduction of parliamentarism in Sweden six referendums have been held. ...

Unemployment

In contrast with most other European countries, Sweden maintained an unemployment rate around 2% or 3% of the work force throughout the 1980s. This was, however, accompanied by high and accelerating inflation. It became evident that such low unemployment rates were not sustainable, and in the severe crisis of the early 1990s the rate increased to more than 8%. In 1996 the government set out a goal of reducing unemployment to 4% by 2000. During 2000 employment rose by 90,000 people, the greatest increase in 40 years, and the goal was reached in the autumn of 2000. The same autumn the government set out its new target--that 80% of the working age population will have a regular job by 2004. Some have expressed concern that meeting the employment target may come at a cost of too high a rate of wage increases hence increasing inflation. However, as of August 2006, roughly 5% of working age Swedes were unemployed, over the government-established goal. However, some of the unemployed are sent to labor market political activities (or AMS-åtgärder) which reduces the headline unemployment number. ^[12] For other uses, see Europe (disambiguation). ...

According to Jan Edling, a former trade-unionist, the actual number of unemployed is far higher, and those figures are being suppressed by both the government and the Swedish Trade Union Confederation. In Edling's report he added that a further 3% of Swedes were occupied in state-organised job schemes, not in the private sector. He also claimed a further 700,000 Swedes are either on long-term sick leave or in early retirement. Edling asks how many of these people are in fact unemployed. According to his report, the "actual unemployment" rate hovers near 20%,.^[13] Critics say that the concept of "actual" unemployment, also termed "broad unemployment" by the Moderate Party, is absurd as it points out e.g. sick people, people with cancer, students who rather want a job, people with part-time jobs, conscripts in the army, and house wives as "unemployed".^{[verification needed]} Moreover, compared to other countries like the United States and United Kingdom, Sweden has a low "broad unemployment".^[14] LO logo The Swedish Trade Union Confederation (Landsorganisationen i Sverige or LO) is an umbrella organisation for sixteen Swedish trade unions that organise blue collar workers. ... The Moderate Party (Swedish: : the Moderate Coalition Party, commonly referred to in Swedish as Moderaterna: the Moderates) is a liberal conservative political party in Sweden. ...

Trade unions

Around eighty percent of the Swedish labour force is unionised.^[15] For most unions there is a counterpart employer's organization for businesses. The unions and employer organisations are independent of both the government and political parties, although the largest confederation of unions, the National Swedish Confederation of Trade Unions or LO (organising blue-collar workers), maintains close links to the largest political party, the Social Democrats. So close that after the election in 2006 and the resignation of the party leader Göran Persson, one of the strongest candidates for new party leader (and their candidate as Prime Minister) was the LO chairman Wanja Lundby-Wedin. The Lawrence textile strike (1912), with soldiers surrounding peaceful demonstrators A trade union or labor union is an organization of workers who have banded together to achieve common goals in key areas such as wages, hours, and working conditions, forming a cartel of labour. ... In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit. ... A blue-collar worker is a working class employee who performs manual or technical labor, such as in a factory or in technical maintenance trades, in contrast to a white-collar worker, who does non-manual work generally at a desk. ... The Social Democratic Labour Party of Sweden (Sveriges Socialdemokratiska Arbetareparti or SAP), is a one of the main political parties in Sweden. ... Hans Göran Persson ( ) (born January 20, 1949), was the thirty-first Prime Minister of Sweden (1996 – 2006). ... Wanja Elisabeth Lundby-Wedin (born 19 October 1952 in Enskede, Södermanland) has been the leader of the Swedish Trade Union Confederation (Swedish: or LO) since 2000. ...

The unionisation rate among white-collar workers is exceptionally high in Sweden - almost as high as for blue-collar workers. There are two major confederations that organise professionals and other qualified employees: the Swedish Confederation of Professional Employees (Tjänstemännens Centralorganisation or TCO) and the Swedish Confederation of Professional Associations (Sveriges Akademikers Centralorganisation or SACO). They are both independent from Sweden's political parties and never endorse candidates for office in political elections. White-collar workers perform tasks which are less laborious yet often more highly paid than blue-collar workers, who do manual work. ... The Swedish Confederation of Professional Employees (Tjänstemännens Centralorganisation or TCO) is a national trade union centre, the umbrella organisation for eighteen trade unions in Sweden that organise professional and other qualified employees within both the private and the public sectors. ... The Swedish Confederation of Professional Associations (Sveriges Akademikers Centralorganisation or SACO) is a confederation of 26 independent professional associations in Sweden. ...

There is no minimum wage that is required by legislation. Instead, minimum wage standards in different sectors are normally set by collective bargaining. Most labour contracts were re-negotiated during 2004, and call for wage increases of around seven percent over a three-year period. The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are determined by the forces of supply and demand in a free market. ...

Labour force

The traditionally low-wage differential has increased in recent years as a result of increased flexibility as the role of wage setting at the company level has strengthened somewhat. Still, Swedish unskilled employees are relatively well-paid while well-educated Swedish employees are low-paid compared to those in competitor countries. The average increases in real wages in recent years have been high by historical standards, in large part due to unforeseen price stability. Even so, nominal wages in recent years have been slightly above those in competitor countries. Thus, while private-sector wages rose by an average annual rate of 3.75% from 1998 to 2000 in Sweden, the comparable increase for the EU area was 1.75%. In the year 2000 the total labour force was approximately 4.4 million people.

Planned privatisations

The Swedish government has announced that it will privatise a number of wholly and partly state owned companies. Sweden is a constitutional monarchy with a representative democracy based on a parliamentary system. ...

• Apoteket - pharmaceuticals. To be partially sold when breaking up the state monopoly and opening the market to free competition. [2]
• Nordea - bank (19.5% owned by Swedish government^[16])
• OMX - stock exchange (6.75% directly owned by Swedish government^[17])
• Scandinavian Airlines System - multinational airline (50% owned by Swedish, Danish, Norwegian governments^[18])
• Telia Sonera - telecom (37,3% owned by the Swedish government^[19]). Hitherto SEK 18 billion worth of shares has been sold reducing state ownership from 45,3% to 37,3%.^[20]
• SBAB - finance
• Vin & Sprit - manufacturer and distributor of alcoholic beverages
• Vasakronan - real estate

Apoteket is the national pharmaceuticals retailing monopoly in Sweden. ... Pharmacology (in Greek: pharmacon is drug, and logos is science) is the study of how chemical substances interfere with living systems. ... In economics, government monopoly is a form of coercive monopoly, in which a government agency is the sole provider of a particular good or service and competition is prohibited by law. ... Nordea is a financial services group operating in Northern Europe, based in Stockholm. ... For other uses, see Bank (disambiguation). ... OMX AB is a Swedish-Finnish financial services company, formed in 2003 through a merger between OM AB and HEX plc. ... Scandinavian Airlines System or SAS is a multi-national airline for Denmark, Norway and Sweden, and the leading carrier in the Scandinavian countries, based in Stockholm, Sweden and owned by SAS AB. It is a founding member of the Star Alliance. ... An Airbus A380 of Emirates Airline An airline provides air transport services for passengers or freight. ... TeliaSonera AB is the result of a merger between the Swedish and Finnish telecommunications companies, Telia and Sonera. ... Telecom is an abbreviation of telecommunication. ... V&S Group is a Swedish-government-owned producer and distributor of alcoholic beverages. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ...

Gross Regional Product

Gross Regional Product per capita in thousands of Swedish crowns (2004)

The gross regional product differs from a top of 363 000 SEK in the capital Stockholm County where much of the economic activity is centered to 212 000 SEK Gotland County with an average or 263 000 SEK for the whole country. Much of the industry and services sector is located in the southern part of Sweden, while the north has many natural resources such as timber and hydropower. The extra regional figure referes to parts of the economic territory which cannot be attached directly to a single region, e.g. embassies and consulates.^[21] Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... A metropolitan areas gross domestic product, i. ... Stockholm County (Stockholms län) is a county or län on the Baltic sea coast of Sweden. ... Gotland County, or Gotlands län, is a County or län of Sweden. ...

A county, or län, is an administrative and political subdivision of Sweden. ... Stockholm County (Stockholms län) is a county or län on the Baltic sea coast of Sweden. ... Västra Götaland County, or Västra Götalands län is a County or län on the western coast of Sweden. ... SkÃ¥ne County, or SkÃ¥ne län, is the southernmost County or län, of Sweden, basically corresponding to the historical province SkÃ¥ne. ... Östergötland County, or Östergötlands län, is a County or län on the south east of Sweden. ... Jönköping County, or Jönköpings län is a County or län in southern Sweden, an administrative unit further subdivided into municipalities. ... Uppsala County, or Uppsala län is a County or län on the eastern coast of Sweden. ... Dalarna County, or Dalarnas län is a County or län in middle Sweden. ... Västernorrland County, or Västernorrlands län is a county or län in the north of Sweden. ... Halland County, or Hallands län, is a County or län on the western coast of Sweden. ... Örebro County, or Örebro län, is a county or län in middle Sweden. ... Gävleborg County, or Gävleborgs län, is a County or län on the Baltic Sea coast of Sweden. ... Västmanland County or Västmanlands län, is a county or län in central Sweden. ... Norrbotten County (Norrbottens län) is a Swedish county or län in the extreme north of Sweden. ... Värmland County, or Värmlands län, is a county or län in west central Sweden. ... Västerbotten County, or Västerbottens län is a county or län in the north of Sweden. ... Kalmar County, or Kalmar län is a County or län in southern Sweden. ... Södermanland County, or Södermanlands län is a County or län on the south east coast of Sweden. ... Kronoberg County, or Kronobergs län, is a County or län in southern Sweden. ... Blekinge County, or Blekinge län is a County or län in the south of Sweden. ... Jämtland County, or Jämtlands län, is a County or län in the north of Sweden. ... Gotland County, or Gotlands län, is a County or län of Sweden. ... ISO 4217 Code SEK User(s) Sweden Inflation 2. ... Statistics Sweden, or Statistiska centralbyrån (SCB), is a Government agency responsible of producing the official statistics on Sweden. ...

See also

• Private
  • List of Swedish companies
  • Stockholm Stock Exchange
• Government
  • Government finance
    • Central bank ("Sveriges Riksbank")
    • Currency ("krona", "kronor" in plural)
    • List of Swedish government enterprises
    • Monetary policy of Sweden
    • Ministry of Finance
    • Swedish National Institute of Economic Research
    • Swedish National Financial Management Authority
  • Spending
    • Social Security (Sweden)
  • Agencies, unions
    • Government agencies in Sweden
    • Confederation of Swedish Enterprise (Svenskt Näringsliv)
    • Swedish Confederation of Professional Associations (SACO)
    • Swedish Confederation of Professional Employees (TCO)
    • Swedish Trade Union Confederation (LO)
  • Energy policy
    • Nuclear power in Sweden
    • Proposed Oil phase-out in Sweden

Other links This is a list of Swedish companies: A&E design Asea Brown Boveri (Swedish-Swiss) Alfa Laval Akzo Nobel (Swedish-Dutch) Arla Foods (Swedish-Danish) Arla Plast Autoliv ASSA ABLOY AstraZeneca (Swedish-British) Atlas Copco (Swedish-Belgian) Avanza Axel Johnson Group Axel Johnson AB Axfood Bodum Group (Danish) Ordning & Reda... The Stockholm Stock Exchange is a stock exchange located in Stockholm, Sweden. ... This is a list of Swedish government owned companies: Wholly Owned Akademiska Hus Apoteket Green Cargo Göta kanal LKAB Posten Samhall SJ SBAB Sveaskog Swedish Space Corporation Systembolaget Teracom Vasakronan AB (through Civitas Holding AB) Vattenfall V&S Group Shared ownership Nordea (18,2%) OMX AB (9,5%) SAS (21... The Monetary policy of Sweden is decided by Sveriges Riksbank, the central bank of Sweden. ... The Ministry of Finance (Swedish: ) is a Swedish government ministry responsible for matters relating to economic policy, the central government budget, taxes, banking, security and insurance, international economic work, central, regional and local government. ... The Swedish National Institute of Economic Research (Konjunkturinstitutet, KI or NIER) is a government agency in Sweden responsible for economic analysis and forecasting. ... Swedens economic formula of a capitalist system interlarded with substantial welfare elements was challenged in the early 1990s by high unemployment. ... The Government agencies in Sweden are state controlled organizations who act independently to carry out the policies of the Swedish Government. ... The Confederation of Swedish Enterprise, or Svenskt Näringsliv, is a major interest organization for business and industry in Sweden. ... The Swedish Confederation of Professional Associations (Sveriges Akademikers Centralorganisation or SACO) is a confederation of 26 independent professional associations in Sweden. ... The Swedish Confederation of Professional Employees (Tjänstemännens Centralorganisation or TCO) is a national trade union centre, the umbrella organisation for eighteen trade unions in Sweden that organise professional and other qualified employees within both the private and the public sectors. ... LO logo The Swedish Trade Union Confederation (Landsorganisationen i Sverige or LO) is an umbrella organisation for sixteen Swedish trade unions that organise blue collar workers. ... Until the 1960s Swedens energy policy focused on hydroelectricity, which was supplemented by nuclear power since 1965. ... Crude oil prices, 1994-2007 (not adjusted for inflation) In 2005 the government of Sweden announced their intention to make Sweden the first country to break its dependence on petroleum, natural gas and other ‘fossil raw materials’ by 2020. ...

• Economy of Europe
• European Union
• History of copper currency in Sweden

The economy of Europe comprises more than 710 million people in 48 different states. ...

References

2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 70th day of the year (71st in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... is the 70th day of the year (71st in leap years) in the Gregorian calendar. ...

External links

• CIA World Factbook: Sweden
• Nationmaster: Economy of Sweden
• OECD's Sweden country Web site and OECD Economic Survey of Sweden
• Sveriges Riksbank (Swedish Central Bank)
• Statistics Sweden
• Sweden Global Investment Discussion by N. Vardy, August 2006
• Sweden – Economic Growth and Structural Change, 1800-2000 - EH.Net Encyclopedia
• United States Department of State - Sweden

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WTO redirects here. ... Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1357 × 628 pixel, file size: 19 KB, MIME type: image/png)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... The economies of the special administrative regions of Hong Kong and Macau are separate from the rest of the Peoples Republic of China. ... Sparsely populated in relation to its area, the Democratic Republic of the Congo is home to a vast potential of natural resources and mineral wealth, yet the economy of the DROC has declined drastically since the mid-1980s. ... This article or section does not cite its references or sources. ... The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. ... The Ivorian economy is largely market based and depends heavily on the agricultural sector. ... The Dominican Republic is a middle-income developing country primarily dependent on agriculture, trade, and services, especially tourism. ... This article does not cite its references or sources. ... If it is considered as a single state, the economy of the European Unions twenty-seven member states is the worlds largest economy. ... Economy - overview: The breakup of Yugoslavia in 1991 deprived F.Y.R.O.M. (Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... This article needs to be updated. ... The Economy of Hong Kong is widely believed, and some argue incorrectly, to be the most economically free in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2006); 11th by volume (at PPP) (2006); GDP (Nominal) $897. ... The Economy of New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. ... Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... South Africa has a two-tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. ... With an economy of $27. ... Republic of China (ROC) has a dynamiccapitalist economy with gradually decreasing guidance of investment and foreign trade by the government. ... Trinidad and Tobago experienced a real growth rate of 3. ... // The United Arab Emirates has a highly industrialized economy that makes the country one the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the HDI. At $168 billion in 2006, the GDP of the UAE ranks second in... The United States economy has the worlds largest gross domestic product (GDP), $13. ... All twenty-seven member states of the European Union are also members of the WTO in their own right: Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands and Netherlands Antilles • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom. Special Administrative Region of the People's Republic of China. Designated name for the Republic of China (Chinese Taipei)