The Swedish GDP grew 0.1 percent on quarter in the first three months of 2020, compared to an initial estimate of a 0.3 percent contraction and beating market forecasts of a 0.6 percent drop. The country did not impose a coronavirus lockdown but many people were following social-distancing recommenddations and limiting travel. Household consumption decreased by 1.7 percent, mainly due to transports and consumption abroad. Public expenditure fell 0.3 percent, investment shrank 0.9 percent and changes in inventories impacted GDP growth negatively by 0.5 percentage points. In contrast, exports increased by 3.4 percent and imports decreased by 0.2 percent. Overall, net exports contributed upwards to GDP growth by 1.7 percentage points. On a year-on-year basis, the economy advanced 0.4 percent. The government expects the economy to shrink around 7% this year and already launched a stimulus package worth around SEK 245 billion to boost the recovery.
GDP Growth Rate in Sweden averaged 0.55 percent from 1981 until 2020, reaching an all time high of 3.40 percent in the first quarter of 2010 and a record low of -3.80 percent in the fourth quarter of 2008. 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 June of 2020. source: Statistics Sweden
GDP Growth Rate in Sweden is expected to be -9.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Sweden to stand at 1.40 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.40 percent in 2022, according to our econometric models.