Sweden is the largest and most populated country in the Nordic region. The total size of its territory is 410,934 sq km and it has 9.1 million inhabitants. Sweden is a constitutional monarchy, with Stockholm as its capital. King Carl XVI Gustaf has a largely ceremonial role, and the parliament, Riksdagen, is the country’s hghest authority. Sweden is a member of the EU, but maintains its own currency, krona. Sweden is an active and vocal participant in the UN and WTO. Sweden is a member of NATO’s Partnership for Peace (PFP).
Sweden is among the world’s richest and most technologically advanced nations. Sweden’s transformation has been helped by a successful combination of generous welfare benefits and high-tech capitalism. It constantly places near the top in international rankings of competitiveness, innovation and standard of living. The Swedish economy is built on rich reserves of iron ore and timber, and plentiful hydroelectric power. The main industrial sectors are forestry, telecoms, and the automotive and pharmaceutical industries. The country is aided with high levels of education and a skilled workforce, sophisticated infrastructure. IT and biomedicine are two knowledge-intensive sectors in which Sweden has been among the global leaders for years.
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