During World War I, Sweden faced some important changes in its economy. Here are the main points:
Trade Changes: The war messed up global trade. Because of this, Sweden had to change how it traded, focusing more on working with neutral countries (countries that were not involved in the war).
Industrial Growth: Certain industries, like iron ore and steel, did really well. There was a higher demand for these materials, which helped Sweden’s economy grow.
Rising Prices: The war caused inflation, which means that prices for food and other goods went up. This made life harder for many people in Sweden.
Job Changes: There were more jobs in factories as the economy changed, but there were also worker shortages. This happened because many people were serving in the military in other countries.
In summary, World War I had a big impact on how Sweden did business with other countries and how its economy worked.
During World War I, Sweden faced some important changes in its economy. Here are the main points:
Trade Changes: The war messed up global trade. Because of this, Sweden had to change how it traded, focusing more on working with neutral countries (countries that were not involved in the war).
Industrial Growth: Certain industries, like iron ore and steel, did really well. There was a higher demand for these materials, which helped Sweden’s economy grow.
Rising Prices: The war caused inflation, which means that prices for food and other goods went up. This made life harder for many people in Sweden.
Job Changes: There were more jobs in factories as the economy changed, but there were also worker shortages. This happened because many people were serving in the military in other countries.
In summary, World War I had a big impact on how Sweden did business with other countries and how its economy worked.