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[T613]The Mystery Of Economic Growth

by Chris Warren, Chr

Heavy construction equipment include bulldozers & track loaders, rubber tire loaders, cable cranes, hydraulic cranes, stationary cranes, graders scrapers & rollers, paving equipment, rock crushers, screeners & washers, trenching equipment, etc. There has been technical advancement also in the attachments and part required for the construction equipment. Three are various types of buckets, blades, couplers cutters, forks, grips, hammers and shovels.

There has been a growth in companies opting for rental construction equipment or leasing them. The main reason behind this is lower capital investment and lower maintenance. Moreover, good construction equipment is available at great bargain prices. This construction equipment give good productivity paralleled to new equipment. Also the smaller fleet ar able to squeeze out construction equipment.

Apart from purchase, leasing and rental of the construction equipment, there are also security issues attached to them. These days companies and constructors are much worried about securing their construction equipment. Since construction equipment do not have any tracking number on them thus recovery of any stolen construction equipment is very difficult. Most of the time the construction equipment is recovered several kilometers away from the construction site. But recovery of equipment is very difficult. Thus a new system of putting the tracking number has been put into effect. Earlier, for security purposes companies used to tie up the construction equipment with chains and padlocks but of late these have been proved to be inefficient.

Now-a-days construction companies are asking the manufacturers to instill laser-cut identification labels with key identification numbers. These key numbers would prove to be the tracking number just like engine number and chassis numbers in automobiles. A proposition of seventeen-digit global numbering system has been put forward in the construction industry to prevent stealing of construction equipment. This would ensure recapturing of stolen construction as well prevention of shipment of stolen construction equipment to other neighboring countries.

Advancement in the construction industry has led to development of operator comfort--air-conditioned cabs, steering wheels that can be tilted and devices to prevent noise pollution. Producers are featuring global positioning satellite technology for improved surveying and for use in driver-less trucks operating on a fixed route.

Increase or decrease in the construction sector directly affects the sale or purchase of the construction equipment. If the economy of the country is growing at a healthy pace, it leads to development of new projects as well as upgrading the older ones. All this requires construction equipment either to be purchased or leased by the construction companies. Further, an association for the inspection and certification of used construction equipment has been formed. This has been done to promote online sales of used heavy construction equipment. This is required by the companies taking up projects at various locations in the foreign land.

This has meant that over the last 15 years, Sweden has steadily grown its position as a net exporter of goods.

The main Swedish exports are timber, iron ore and hydropower, with the engineering sector making up half of all exports.

Other significant export sectors contributing to international freight are IT and telecommunications, cars and pharmaceuticals.

Many of Sweden's companies involved in exports are world famous brand names. There can be few people who have not heard of Volvo, Sony Ericcson Mobile Communications or Electrolux.

Most of Sweden's industry is in the hands of privately owned companies and it is their competitive approach that is driving Swedish economic success. Indeed, Sweden has been ranked as the 4th most competitive country in the world, according to the World Economic Forum 2008.

Another indicator of why Swedish exports are so successful worldwide is the high investment in research and development. Sweden's investment in research and development stood at over 3.5% of Gross Domestic Product in 2007. This is higher than most countries, including the United States, and this focus on innovation is helping keep Swedish products at the forefront in their export markets.

The same drive towards innovation can also be seen within shipping companies and the freight transport industry in Sweden. For example, freight services in Sweden are leading the way worldwide in the use of It based intelligent transport systems. This use of innovation within the freight transport industry itself helps the export trade to stay competitive.

The largest trade flows from Sweden are with Germany, United States, UK and the other Scandinavian countries of Norway, Finland and Denmark. Export is growing significantly. For example, the value of exports to the United States have grown by 50% in the last four years, with a total value of 14 billion dollars. This is particularly impressive when you remember what a small country Sweden is, with a population of only 9 million.

So what has caused this extraordinary success story in export and international freight? One important factor has been that Sweden suffered a severe recession in the early 1990's and there was renewed focus by the Swedish government on supportng and building export markets at that time as lynchpin of the economic recovery plan for the country.

Since then, export has boomed, so that export is now the main driver of economic growth in Sweden. There has been a shift in the kind of exports, moving away from traditional industries such as steel,paper and pulp and towards knowledge based industries such as IT and telecommunications.

This has made the export sector more robust and less vulnerable to fluctuating global demand.

The freight transport infrastucture In Sweden has been upgraded and modernised to support the export economy. The freight transport infrastructure now includes fast rail links, expressways and a network of ports and harbours with state of the art terminals and container handling facilities, for example at Gaevle, Goteborg, Malmo, Sundsvall, Helsingborg, Halmstad, Kalmar and Stockholm. The emphasis on streamlining and efficiency can be seen throughout the freight services industry, from the largest shipping company right down to the smallest freight company.

So as the global economic downturn casts its shadow over worldwide markets, there is no doubt that Sweden will be in a stronger position than most to weather the storm.

The investment in building competitive export markets, combined with investment in a leading edge infrastructure and a world class freight forwarding industry will help ensure that export continues to drive Sweden's economy in the years ahead.

Article Source : Why Do We Study Economics

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Both Chris Warren & Stephen Willis are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Chris Warren has sinced written about articles on various topics from Online Dating, Economics and bowling. Chris Warren, engineer - focusing on. Chris Warren's top article generates over 6600 views. to your Favourites.

Stephen Willis has sinced written about articles on various topics from The Internet, Vienna Travel and The Internet. Stephen Willis is Managing Director of a UK based freight transport company, established in 1971 and operating worldwide freight forwarding services i. Stephen Willis's top article generates over 8100 views. to your Favourites.