How it All Began
Sweden is considered as the largest of the five Nordic countries and forms part of Scandinavia in northwestern Europe. It is considered to be poor in agricultural resources, thus it started trading with Russia and southeastern Europe during the 9th to 11th centuries. During the Middle Ages, its trade expanded with other parts of Europe and Gotland became the center of the Baltic Sea trade in fish, metal and timber. In the 15th century, the iron ores of Berslagen were being smelted with charcoal from the surrounding forest. Between the 17th and 18th centuries, Sweden was regarded as Europe's foremost producer of high quality steel. Lumbering was on a large-scale basis in the 19th century. Iron and ore production had significantly dropped recently. However, it is still considered as an important industry in Sweden making the country a major exporter of iron. The most important mining areas are situated at Gallivare and Kiruna. Lower-grade nonphosphoric iron ores are seen in Berslagen. The country also produces copper, arsenic, lead and silver which comes from Skelletftea field. Metalworking establishments employ half of the people in the manufacturing industry. Eskilstuna is known for its high-quality steels and Sweden exports the likes of Volvo and Saab automobiles. The nation is also famous for its ball bearings, high-voltage cable, electric and telephone equipment and electrical appliances. Sweden's shipbuilding industry ranks second in the world. Chemicals and petrochemicals are also of importance. Agriculture is highly-mechanized. Three-fourths of all farm income is derived from livestock and dairy products. The most cultivated crops include wheat, barley, oats and hay and all of these are grown primarily for fodder. Rye, sugar beets as well as potatoes are also cultivated in the area. About half of Sweden's trade is with members of the European Community (EC). But in the light of international trade, Sweden has remained outside this community. The government found it more necessary to be independent from the EC in order to establish good trade relations with other parts of the world, thus the beginning of fruitful trade with the United States. To these days, the US had help build a strong economy for Sweden while the latter admits of having the former represent most of the foreign companies in their land. Major Imports and Exports between the Two Nations The major imports of Sweden are comprised of machinery and automobiles, petroleum, textile fibers and foodstuff. On the other hand, its major exports are machinery and automobiles, wood pulp, paper and wood and iron ore. The amount of US exports to Sweden amounted to $3.46 billion for the period ending August 2008. Imports coming from Sweden to US were tallied at $8.52 billion. These facts came from the US Census Bureau. For the year 2007, the following products were seen to flourish in the business relations of these two countries:
This amended treaty was signed between the US and Sweden on September 30, 2005. This was an agreement which basically evolves on the aspects of double taxation as well as the prevention of financial evasion when it comes to income tax. The original treaty was signed on September 1, 1994. The following were the provisions found in this agreement:
Trade relations between the United States and Sweden were partially affected by issues on standing in world trade. There was this kind of struggle to gain top ranks on some economic aspects of international business. The humanitarian aid concept led to some disputes. On this aspect, Sweden ranks on top of the charts whereas the US was found at the number 16 spot. Sweden was assessed to have delivered funds quickly for this purpose coupled with some sort of speedy follow-ups as to whether the amount reaches their targets. The United States, on the other hand was good on delivering goods but not cash. It was also said that the latter failed to ratify vital aspects of international treaties on human rights. Future Trade between the US and Sweden The US and Sweden may have been affected by the above rankings especially that US has always established itself on top of the charts. However, this was just a mere contributory factor that did not really hinder their trade at all. They used it as a stepping stone to continue their work side by side. They have taken it as a chance to get back and focus to countries which need both their aids. They have left the humanitarian issues behind and allowed other organizations to assess this matter. As of the moment, both countries are busy looking forward to better future trade relations. Basically, they are more attentive on concerns about education. They want to be assured that their children and their children's children will benefit from the core concepts of learning. This probably, is the most ideal thought any country could have. The fruits of their labor are founded on their trade relations as well as their global business standings. It is not really a question of who ranks before the other. It is more of concentrating on how to improve the status and lives of the people. More notes are better yet concentrated on how to build these strong economies in the light that all other people could reap the benefits. US-Sweden Trade References
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Market Research
In the context of regional economic developments, Sweden has been exposed to a deep and prolonged global slowdown that has largely been concentrated in a sector of great importance for the country, the IT sector. But, the country continues to be well placed to benefit from recovery in that sector as well as in the world economy and global trade flows generally
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Sweden's major industries include iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles
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