Kingdom of Sweden is a parliamentary constitutional monarchy, located in Northern Europe. The King is officially the head of state, but executive power is exercised by the prime-minister who also appoints the cabinet. The Rikstag is a single-chamber parliament, consisting of 349 seats. Norway ranks 39th largest economy in the world (by GDP PPP) and is 27th by GDP per capita. Sweden’s economy is highly integrated with the European Union, which buys 58% of Swedish goods. The EU is also Sweden’s key supplier of goods, accounting for 72% of total imports. Overall, as much as 80% of merchandise exports are directed to just four markets (European Union, Norway, United States and China). Total external trade volume is 42% of GDP. The central bank, Sveriges Riksbank (SRB), pursues an inflation-targeting approach to monetary policy and maintains a free floating exchange rate regime. Excessive household debt and ageing population are usually named among key weaknesses of Sweden’s economy.