The Swedish economy shrank 0.9 percent quarter-on-quarter in Q4 of 2022, compared with a flash figure of a 0.6% fall and after a downwardly revised 0.2% rise in Q3. This was the first contraction in the economy in three quarters, with both household consumption (-0.2%) and fixed investment (-0.8%) falling. Meantime, government spending grew by 0.2%, amid marginal contribution from net trade as exports dropped by 1.0% while imports were down 1.1%. On an annual basis, the economy also contracted 0.9%, the first drop since Q4 of 2020, after an upwardly revised 2.7% expansion in Q3. source: Statistics Sweden

GDP Growth Rate in Sweden averaged 0.55 percent from 1981 until 2022, reaching an all time high of 7.50 percent in the third quarter of 2020 and a record low of -8.10 percent in the second quarter of 2020. This page provides - Sweden GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sweden GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

GDP Growth Rate in Sweden is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.30 percent in 2024, according to our econometric models.

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Sweden GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-30 07:00 AM QoQ Flash Q4 -0.6% 0.6% 0.1%
2023-02-28 07:00 AM QoQ Final Q4 -0.9% 0.2% -0.6% -0.6%
2023-04-27 06:00 AM QoQ Flash Q1 -0.6% -0.5%


Related Last Previous Unit Reference
GDP Growth Rate -0.90 0.20 percent Dec 2022
GDP Annual Growth Rate -0.90 2.70 percent Dec 2022
GDP Constant Prices 1388958.00 1401509.00 SEK Million Dec 2022
Gross National Product 1621273.00 1500629.00 SEK Million Dec 2022
Gross Fixed Capital Formation 365542.00 375024.00 SEK Million Dec 2022
Full Year GDP Growth 2.40 4.80 percent Dec 2022
GDP from Utilities 46345.00 49125.00 SEK Million Dec 2022
GDP from Transport 47805.00 47732.00 SEK Million Dec 2022
GDP from Services 644478.00 650931.00 SEK Million Dec 2022
GDP from Public Administration 246800.00 244995.00 SEK Million Dec 2022
GDP from Mining 10533.00 11285.00 SEK Million Dec 2022
GDP from Manufacturing 170464.00 173493.00 SEK Million Dec 2022
GDP from Construction 80181.00 80536.00 SEK Million Dec 2022
GDP from Agriculture 17825.00 16962.00 SEK Million Dec 2022

Sweden GDP Growth Rate
On the expenditure side, household consumption is the main component of Swedish GDP and accounts for 46 percent of its total use, followed by government consumption (26 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 45 percent of GDP while imports account for 41 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
-0.90 0.20 7.50 -8.10 1981 - 2022 percent Quarterly
SA

News Stream
Swedish Q4 GDP Shrinks More than Initially Anticipated
The Swedish economy shrank 0.9 percent quarter-on-quarter in Q4 of 2022, compared with a flash figure of a 0.6% fall and after a downwardly revised 0.2% rise in Q3. This was the first contraction in the economy in three quarters, with both household consumption (-0.2%) and fixed investment (-0.8%) falling. Meantime, government spending grew by 0.2%, amid marginal contribution from net trade as exports dropped by 1.0% while imports were down 1.1%. On an annual basis, the economy also contracted 0.9%, the first drop since Q4 of 2020, after an upwardly revised 2.7% expansion in Q3.
2023-02-28
Sweden GDP Shrinks in Q4
The Swedish economy contracted 0.6 percent on quarter in the three months to December of 2022, the first decline in three quarters, preliminary estimates showed. Compared to the same quarter last year, the economy also shrank 0.6 percent in Q4. The results for the last quarter indicated that GDP increased by 2.4 percent during 2022. "The development for 2022 as a whole was however slightly above the historical average seen during the last decades, but this is mainly explained by low economic activity during the first half of 2021 rather than a clear increase in GDP during 2022,” says Neda Shahbazi, an economist at Statistics Sweden.
2023-01-30
Sweden Q3 GDP Growth Rate Revised Slightly Lower
The Swedish economy expanded 0.6% quarter-on-quarter in Q3 of 2022, compared with a flash figure of a 0.7% growth and after a downwardly revised 0.7% rise in Q2. Fixed investment (1.2%) and government spending (0.4%) were main drivers for the expansion. Meantime, household consumption fell (-0.2%), while net trade contributed negatively as exports grew by 0.5% while imports rose at a faster 1%. On an annual basis, the economy grew by 2.5%, after an upwardly revised 3.9% increase in Q2.
2022-11-29