Sweden's gross domestic product shrank by 7.7 percent year-on-year in the second quarter of 2020, the steepest contraction since records began in 1982 and compared to a preliminary estimate of an 8.2 percent slump.

GDP Annual Growth Rate in Sweden averaged 2.27 percent from 1982 until 2020, reaching an all time high of 7.50 percent in the fourth quarter of 2010 and a record low of -7.70 percent in the second quarter of 2020. This page provides - Sweden GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sweden GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Sweden

GDP Annual Growth Rate in Sweden is expected to be -7.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Sweden to stand at 7.50 in 12 months time. In the long-term, the Sweden GDP Annual Growth Rate is projected to trend around 6.20 percent in 2021 and 2.60 percent in 2022, according to our econometric models.

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Sweden GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.70 0.70 7.50 -7.70 1982 - 2020 percent Quarterly
WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-05 07:30 AM YoY Flash Q1 0.5% 0.7% -0.7%
2020-05-29 07:30 AM YoY Final Q1 0.4% 0.5% 0.5% 0.5%
2020-08-05 07:30 AM YoY Flash Q2 -8.2% 0.4% -3.6%
2020-08-28 07:30 AM YoY Final Q2 -7.7% 0.7% -8.2% -8.2%
2020-11-05 08:30 AM YoY Flash Q3 -7.7% -7.2%
2020-11-27 08:30 AM YoY Final Q3 -7.7% -7.2%

Sweden GDP Last Previous Highest Lowest Unit
GDP Growth Rate -8.30 0.20 3.40 -8.30 percent [+]
GDP Annual Growth Rate -7.70 0.70 7.50 -7.70 percent [+]
GDP 530.83 555.46 586.84 15.82 USD Billion [+]
GDP Constant Prices 1157760.00 1262585.00 1262585.00 519710.00 SEK Million [+]
Gross National Product 1261063.00 1278092.00 1346882.00 142255.00 SEK Million [+]
Gross Fixed Capital Formation 292736.00 306647.00 315929.00 106366.00 SEK Million [+]
GDP per capita 57975.10 57911.20 57975.10 18050.10 USD [+]
GDP per capita PPP 53205.10 53146.50 53205.10 32574.60 USD [+]
GDP From Agriculture 17501.00 18187.00 19130.00 10609.00 SEK Million [+]
GDP From Construction 75560.00 76796.00 76796.00 40885.00 SEK Million [+]
GDP From Manufacturing 126528.00 166579.00 177524.00 56751.00 SEK Million [+]
GDP From Mining 8077.00 8308.00 12457.00 5017.00 SEK Million [+]
GDP From Public Administration 217623.00 227073.00 227737.00 180417.00 SEK Million [+]
GDP From Services 535737.00 578433.00 579828.00 178733.00 SEK Million [+]
GDP From Transport 33998.00 44353.00 46161.00 24672.00 SEK Million [+]
GDP From Utilities 30441.00 31807.00 38454.00 16581.00 SEK Million [+]


Sweden GDP Annual Growth Rate
Sweden has an economy heavily oriented toward foreign trade with timber, hydro-power, and iron ore constituting its resource base. Engineering sector accounts for about 50 percent of output and exports. On the expenditure side, household consumption is the main component of 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.