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Economy of Sweden


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chnical progress had mainly come from mainland Europe.

In 1739, the Royal Swedish Academy of Sciences was founded, with people such as Carolus Linnaeus and Anders Celsius as early members. Many of the companies founded by early pioneers still remain major international brands. Gustaf Dalén founded AGA, and received the Nobel Prize for his sun valve. Alfred Nobel invented dynamite and instituted the Nobel Prizes. Lars Magnus Ericsson started the company bearing his name, Ericsson, still one of the largest telecom companies in the world. Jonas Wenström was an early pioneer in alternating current and is along with Serbian inventor Nikola Tesla credited as one of the inventors of the three-phase electrical system.

The traditional engineering industry is still a major source of Swedish inventions, but pharmaceuticals, electronics and other high-tech industries are gaining ground. Tetra Pak was an invention for storing liquid foods, invented by Erik Wallenberg. Losec, an ulcer medicine, was the world's best-selling drug in the 1990s and was developed by AstraZeneca. More recently Håkan Lans invented the Automatic Identification System, a worldwide standard for shipping and civil aviation navigation. A large portion of the Swedish economy is to this day based on the export of technical inventions, and many large multinational corporations from Sweden have their origins in the ingenuity of Swedish inventors.

Swedish inventors hold a total of 33,523 patents in the United States as of 2007, according to the United States Patent and Trademark Office. As a nation, only ten other countries hold more patents than Sweden
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