Sweden is known as one of the most innovative countries in the world, according to studies done by the United Nations and the international business school, INSEAD. (Business Sweden) Through this innovation foreign trade has improved and exports are thriving. Sweden being strongly dependent on exports has made foreign trade an important driving force behind the development of Sweden into an industrialized nation with a high standard of living. (Sweden Abroad) Sweden’s various innovative companies, resources and manufacturing industries have sanctioned foreign trade around the world, which has boomed their export- oriented economy and improved the standard of living for the country.
Sweden’s foreign trade includes importing and a surplus of exporting to many countries. Sweden’s most important import and export partners include Europe, North America, and Asia. (Business Sweden) Their main exporting partners include Norway, Germany, United Kingdom, Denmark, Finland, Netherlands, United States, Belgium and France. (CIA) Since becoming a member of the European Union in 1995, 75 percent of Sweden’s foreign trade is with other European nations. (Sweden Abroad) Exports of goods and services account for 48.8 percent of Sweden’s gross domestic product and $178.5 billion of merchandise exports on a free on board basis. (CIA) Also, 45 percent of their gross national product is generated by exports. (Sweden Abroad) These exports include a wide range of resources and industries.
Sweden has an abundance of natural resources. These natural resources include iron ore, copper, lead, zinc, gold, silver, tungsten, uranium, arsenic, feldspar, timber, and hydropower. Timber, hydropower, and iron ore constitute the resource base of this economy heavily...
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...s in October 2013." (5. Nov. 2013): Factiva, 20 Nov. 2013. http://global.factiva.com.ezproxy.gsu.edu/ha/default.aspx.
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Trade, of course, is only part of a larger network of relationships between our two countries. This network evolves in response to many complex influences, and exporters need to consider how our two countries' ever-expanding, ever-changing relationships will affect their activities. To take just a few examples:
Besides that free trade encourages strengthen the development of a country’s institutions, in order to protect the country’s eco...
Scott Szwast’s speech entitled, “Scott Szwast: The global business next door” was an informative look into international trade in America and the effects thereof to a business’s growth potential. Szwast used this speech to dispel the idea held by many American’s, which is that global trade is a market for large corporations. According to Szwast, many business owners don’t take advantage of the business opportunities across the world because of “self-imposed borders”, which are doubt, uncertainty, and fear.
In 2006, Switzerland's real GDP was 3.2% with exports exceeding imports by $9.6 billion (a trade surplus). The machinery, metals, electronics, and chemicals sectors are known for precision and quality and they account for well over half of Switzerland's export revenues. The country is approximately 60% self-sufficient, taking only 7.5% of it imports from the U.S. With a low inflation and unemployment rate (1% and 2.5% respectively), Switzerland is positioned to be a powerhouse in the world's economy. The Swiss economy earns approximately 50% of its corporate earnings from exports, of which, about 70% are destined for the EU market (The World Factbook, 2007).
Kjell A. Nordström is based at the Institute of International Business at the Stockholm School of Economics. He is also on the board of directors of a number of international companies.
As a conclusion, the Swedish-multinational have its own strengths that can be best accessing and weaknesses that should not be avoided but to be improvised on. Looking on their organization’s evaluation thoroughly and find out what is it best for them to keep with and continuously improving on so that their stand and place in the global market can be kept. Also, they should focus on their business sustainability to keep being competitiveness on the global market.
Scandinavia is a region of Northern Europe that includes Sweden, Denmark, Norway, Finland, and Iceland. All the countries of Scandinavia share similar languages, are ethnically homogeneous, and are known to be punctual, honest, and modest. While each country does have its differences, they all have one major thing in common: the Nordic Model. All the Scandinavian countries are Social Democracies, which basically means that citizens pay high taxes, but in return the government provides a great deal of things to everyone. However, there is also criticism of the welfare state, with complaints ranging from people taking advantage of the system to dissatisfaction of the brutal taxation. Although the Nordic Model has its problems, the benefits and the quality of life that results from it outweighs the bad, which is shown by the prosperous Scandinavian states.
Zejan, M. (1990). New ventures or acquisitions: The choice of Swedish multinational enterprise. Journal of Industrial economics, 38(3), 349-355.
A nation’s innovation system is shaped by how the nation leverages its endowments—natural resources, culture, history, geography, and demographics—through policies that create a thriving market-oriented economy and accelerate the transition of new technologies, processes, and services to the market (Branscomb and Auerswald 2002). The aim of this assignment is to evaluate South Korea’s innovation policies, in light of its latest ranking as the second most innovative country in the world.
Smith, M. H. (2006). The natural advantage of nations: business opportunities, innovation and governance in the 21st century. Earthscan.
China’s economical strength comes from its international trades as the economy has grown to a rate of 10.3% in 2010. It has become the world’s largest exporter in the global economy. In the area of trade, three major strengths of China are 1) it is the single most important challenge for the European Union (EU) trade policy, 2) China is the second trade partner behind the U.S., and 3) it is the EU’s biggest source of imports by far with the dramatic increase in the EU-China trades over the recent years. The EU exports of goods to China were 113.1 billion Euros and in imports was 281.9 billion Euros in 2010. The service exports were 18 billion Euros and in imports were 13 billion Euros in 2009. China has also established trades with Australia. Recently, the two countries have been cooperating and assisting each other in industries such as agriculture, energy and minerals as they continue their free trade agreements (Jia Qinglin).
(Yourdictionary, n.d.). You can also export and import products from other countries. Culture products can be send to other countries because people who are living in another country but they are not in their own country, they will able to access to those products. This can connect to immigrants coming to another country for safety because maybe in their country there is war. Also people go to other countries to find proper jobs and to educate themselves better in order for them to find high paying job.
Offshoring has become a big factor in the global economy. Many companies have opened customer service centers in different countries due to the savings. Clothing companies moved their manufacturing plants to other countries due to the cost of labor. Major stores in the US, for example, Wal-Mart, brings in most of their products from other countries to save money and pass that savings onto the consumer. Capitalism in the US has recently helped the global economy, the benefits of the Americans in the world’s marketplace is seen in the return of money to the rest of the world.