Sweden is an export-oriented mixed economy. 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. Agriculture accounts for 2% of GDP and employment. The country ranks among the highest in telephone and Internet access penetration. In 2010, Sweden had the third lowest income Gini coefficient amongst developed countries, at 0.25, slightly higher than Japan and Denmark, suggesting Sweden had low income inequality. However, Sweden's wealth Gini coefficient at 0.853 was the second highest in developed countries, and above European and North American averages, suggesting high wealth inequality. Even on disposable income basis, the geographical distribution of Gini coefficient of income inequality varies within different regions and municipalities of Sweden. Danderyd, outside Stockholm, has Sweden's highest Gini coefficient of income inequality at 0.55, while Hofors near Gävle has the lowest at 0.25. In and around Stockholm and Scania, two of the more densely populated regions of Sweden, the income Gini coefficient is between 0.35 to 0.55.
In terms of structure, the Swedish economy is characterised by a large, knowledge-intensive and export-oriented manufacturing sector, an increasing, but comparatively small, business service sector, and by international standards, a large public service sector. Large organisations both in manufacturing and services dominate the Swedish economy. High and medium-high technology manufacturing accounts for 9.9% of GDP.
The 20 largest (by turnover in 2007) companies registered in Sweden are Volvo, Ericsson, Vattenfall, Skanska, Sony Ericsson Mobile Communications AB, Svenska Cellulosa Aktiebolaget, Electrolux, Volvo Personvagnar, TeliaSonera, Sandvik, Scania, ICA, Hennes & Mauritz, IKEA,
