Sweden is one of relatively few countries, which have gone through the financial crisis rather unhurt. It was, according to Johan Freij and Roger Josefsson, forest industry analysts at Danske Bank, the Swedish forest industry – saw mills and pulp and paper industry – that in combination with a weak Swedish Krona saved the country.Forest based business accounts for around ten percent of Sweden’s export, but considering imports to Swedish industries, the picture is different. Looking at the net export value, the Swedish forest industry accounts for between 50 and 75 percent.The reason is that the forest industry, in contrast to all other Swedish export industries, has a very small import of goods.Following the financial crisis in the world the forest industry’s share of the Swedish net export value exploded and even passed 100 percent.Danske Bank’s Freij and Josefsson describe how that can be possible. The fact that many other Swedish industries occasionally had a higher import value than export value during the crisis affected the total net export negatively.When the currency weakens, as the Swedish Krona during the financial crisis, the export is affected positively, while imports of goods become more expensive.The conclusion is that the forest industry, supported by a weak Swedish currency, saved the growth in Swedish economy during the financial crisis, according to Johan Freij and Roger Josefsson, Danske Bank.