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.

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Sweden GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.00 3.40 -3.80 1981 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-29 08:30 AM QoQ Q3 0.3% 0.2% 0.2% 0.3%
2020-02-28 08:30 AM QoQ Q4 0.2% 0.4% 0.2% 0.2%
2020-05-05 07:30 AM QoQ Flash Q1 -0.3% 0.1% -0.3% -1.6%
2020-05-29 07:30 AM QoQ Final Q1 0.1% 0% -0.6% -0.3%
2020-08-05 07:30 AM QoQ Flash Q2 0.1% -9.2%
2020-08-28 07:30 AM QoQ Final Q2 0.1% -9.2%
2020-11-05 08:30 AM QoQ Flash Q3 2.4%
2020-11-27 08:30 AM QoQ Final Q3 2.4%


News Stream
Swedish Economy Avoids Contraction in Q1
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 recommendations 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.
2020-05-29
Swedish GDP Contracts 0.3% in Q1
Sweden's economy contracted 0.3 percent on quarter in the first three months of 2020, following a downwardly revised 0.1 percent expansion in the previous period, a preliminary estimate showed. Exports contributed positively to GDP, while decreases in gross fixed capital formation and changes in inventories weighed down growth. The contraction is expected to deepen in the April-June period when the full effects of the coronavirus outbreak will be felt. Sweden did not follow other European countries with a complete lockdown. The country closed down relatively late and a little less strictly than in other countries.
2020-05-05
Sweden GDP Growth Matches Forecasts at 0.2%
The Swedish economy expanded 0.2% on quarter in Q4 2019, following an upwardly revised 0.4% growth in Q3 and matching market expectations. Household spending was the main driver of growth (0.7%), namely consumption of transports, including vehicles. Also, government consumption remained largely unchanged; changes in inventories contributed to GDP growth by 0.2 percentage points; and gross fixed capital formation shrank 0.4%, mainly due to reduced investment in machinery and equipment. Meanwhile, exports decreased by 1.7% and imports decreased by 1.2%, resulting in a 0.3 percentage point drag from net trade. Year-on-year, the economy expanded 0.8%, well below 1.8% in Q3. Considering full 2019, the economy advanced 1.2%
2020-02-28
Swedish Q3 GDP Growth Beats Forecasts
Sweden’s GDP expanded 0.3 percent on quarter in the three months to September 2019, accelerating from an upwardly revised 0.2 percent advance in the previous period and above market expectations of 0.2 percent. Government expenditure (0.2 percent vs -0.2 percent in Q2) and gross fixed capital formation (0.5 percent vs -0.9 percent) rebounded while household consumption slowed (0.4 percent vs 11 percent). Also, net foreign demand contributed positively to growth, as exports climbed 1.4 percent (vs 0.5 percent in Q2) while imports rose at a softer 0.8 percent (vs 0.6 percent). Year-on-year, the GDP grew 1.6 percent, well above a 1 percent gain in Q2 but below market consensus of 1.8 percent.
2019-11-29

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.