The forest industry saved Sweden from the financial crisis
But the question is whether the Swedish economy can rely on the forest ahead?
Danske Bank writes in its latest newsletter that Sweden managed relatively lightly through the financial crisis. According to teh bank the forest industry, with the help of a weak dollar, rescued Sweden.
Sweden is one of the few Western countries that fared relatively lightly through the financial crisis. It was the forest, with sawmills, pulp and paper industry which, with the help of a weak dollar, rescued Sweden. The forest accounts for about 10-12% of the total Swedish exports. But if you count on Sweden's "net exports" historically the forest industry has been responsible for an impressive 50-75%. During the financial crisis exploded these levels that exceed 100%. However, Danske Bank writes in the newsletter to a stronger Swedish currency would make it tough for the forest industry to be the driving force in the future.
I think it is strange that the bank did not mention the Euro currency that made neigbouring country Finland had a harder time with their exports...