Sweden is an export-oriented market economy featuring a modern distribution system, excellent internal and external communications, and a skilled labour force. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden’s engineering sector accounts for 50% of output and exports. Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance.

Source: http://en.wikipedia.org/wiki/Sweden#Economy

Stupid americans…