Based on the following passage regarding the economy of Sweden, what is the economic sector that accounts for the largest output?
Sweden is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labor force. Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden's engineering sector accounts for 50% of output and exports. Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance. Agriculture accounts for 2 percent of GDP and employment. The armaments industry has a technologically highly advanced reputation.
According to this passage, the engineering sector accounts for the largest output, generating 50% of output and exports.
Instruction: Based on the following passage regarding the economy of Sweden, what is the economic sector that accounts for the largest output?
Context: Sweden is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labor force. Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Sweden's engineering sector accounts for 50% of output and exports. Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance. Agriculture accounts for 2 percent of GDP and employment. The armaments industry has a technologically highly advanced reputation.
Response: According to this passage, the engineering sector accounts for the largest output, generating 50% of output and exports.