Part 4/9:
A significant challenge during industrialization was the limitation of domestic markets in the Nordic countries. With relatively small populations, these nations needed external markets to sustain industrial growth. They successfully capitalized on their abundant natural resources, exporting raw materials to larger neighboring countries like Germany, Britain, and Russia.
Moreover, as agricultural advancements slowed by the late 19th century, these nations transitioned into manufacturing, producing goods that used their resources efficiently while opening the doors for larger-scale exports. The interdependencies between Scandinavian nations fostered deeper trade connections, enriching all member economies.