Sweden is world's third biggest music exporter

2000-11-15 12:35

Stockholm - Sweden's booming music industry now ranks third in the world behind those of the United States and Britain in terms of exports, a trade organisation said on Tuesday.

According to statistics from Export Music Sweden, the Scandinavian country's music industry was worth 500 million euros ($430 million) last year.

Exports of services and products jumped 24 percent between 1998 and 1999 and nearly 30 percent since 1997. In 1996, the industry hit a peak with the worldwide success of the group The Cardigans, said the report, quoted by the TT news agency.

Most of the exports came from the business of producing CDs for foreign music companies and CD-making machines. - Sapa-AFP