Sweden is known as one of the most innovative countries in the world, according to studies conducted by the United Nations and the international business school INSEAD. (Business Sweden) Thanks to this innovation, foreign trade has improved and exports are flourishing. Sweden's heavy dependence on exports has made foreign trade an important driving force behind Sweden's development into an industrialized nation with a high standard of living. (Sweden Abroad) Sweden's various innovative companies, resources and manufacturing industries have sanctioned foreign trade around the world, which has exploded their export-oriented economy and improved the country's standard of living. Sweden's foreign trade includes imports and a surplus of exports to many countries. Sweden's most important import and export partners include Europe, North America and Asia. (Business Sweden) Major export partners include Norway, Germany, the United Kingdom, Denmark, Finland, the Netherlands, the United States, Belgium and France. (CIA) Since becoming a member of the European Union in 1995, 75% of Sweden's foreign trade goes to other European nations. (Sweden abroad) Exports of goods and services represent 48.8% of Sweden's gross domestic product and $178.5 billion in exports of goods on a free on board basis. (CIA) Furthermore, 45% of their gross national product is generated by exports. (Sweden abroad) These exports include a wide range of resources and industries. Sweden is rich in natural resources. These natural resources include iron ore, copper, lead, zinc, gold, silver, tungsten, uranium, arsenic, feldspar, timber, and hydroelectric power. Timber, hydropower, and iron ore largely constitute the resource base of this economy...half of paper...in October 2013." (November 5, 2013): Factiva, November 20, 2013 http://global .factiva.com.ezproxy.gsu.edu/ha/default.aspx. “World Maps.” Sweden 18 October 2013. “Sweden Country Profile,” 24 January 2012. 15 November 2013 .se". History of Swedish trade." Vehicles and telecommunications dominate Swedish exports. 2012. November 15, 2013. “Trade Economics.” Swedish exports. 2013. November 15. 2013..