The standard of living in Sweden is considered one of the highest in the world and the highest in Europe. The standard of living is defined by a complex of various indicators. According to GDP and consumption per capita Sweden is high on the list in Europe. On extent of alignment of the income Sweden advances all other countries of the world. The relation of a salary of women to a salary of men in Sweden the highest in the world
Transformation of economy from backward agrarian in a front line industrial was promoted by existence of large supplies of important natural resources: iron ore, wood, hydraulic power. Huge external demand for the Swedish wood and iron ore, ability of Sweden to develop resources and proximity of the European markets during an era of high transport costs was major factors of development.
In economy of Sweden production monopolization is very high. It is strongest in such specialized industries as production of ball-bearings (SKF), automotive industry ("Volvo" and "SAAB-Skaniya"), ferrous metallurgy ("Svensk so"), electrical equipment ("Elektrolyuks", ABB, "Ericsson"), woodworking and pulp-and-paper ("Svensk cellulose", "Sturr", "Mu ok of Dumshe", etc.), aircraft construction ("SAAB-Skaniya"), pharmaceutics ("Aster", "Farmasia"), production special staly ("Sandvik", "Avesta").