Sweden's gross domestic product shrank by 0.2 percent from the previous quarter in the three months to December 2020, revised down from a 0.5 percent expansion previously estimated. Household consumption declined by 0.8 percent, amid lower housing expenses a fall in consumption of hotel and restaurant services, while government spending was unchanged and fixed investment edged up 0.1 percent, mainly due to growing investments in total machinery and equipment including weapon systems. In addition, net exports contributed upwards to GDP growth by 0.8 percentage points as exports rose more than imports, while changes in inventories contributed downwards to GDP growth by 0.7 percentage points. Year-on-year, the economy contracted 2.2 percent in the fourth quarter. Considering 2020 full year, the GDP shrank 2.8 percent. source: Statistics Sweden

GDP Growth Rate in Sweden averaged 0.53 percent from 1981 until 2020, reaching an all time high of 6.40 percent in the third quarter of 2020 and a record low of -7.60 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 April of 2021.

GDP Growth Rate in Sweden is expected to be -0.20 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 1.10 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Sweden GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 6.40 6.40 -7.60 1981 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-05 08:30 AM QoQ Flash Q3 4.3% -8.6% 4.2%
2020-11-27 08:30 AM QoQ Final Q3 4.9% -8.0% 4.4% 4.3%
2021-02-01 08:30 AM QoQ Flash Q4 0.5% 4.9% 0.7% -2.2%
2021-02-26 08:30 AM QoQ Final Q4 -0.2% 6.4% 0.5% 0.5%
2021-04-29 07:30 AM QoQ Flash Q1 -0.2% -1.2%
2021-05-28 07:30 AM QoQ Final Q1 -0.2%
2021-07-29 07:30 AM QoQ Flash Q2 0.8%
2021-08-27 07:30 AM QoQ Final Q2


News Stream
Swedish GDP Figures Revised Lower
Sweden's gross domestic product shrank by 0.2 percent from the previous quarter in the three months to December 2020, revised down from a 0.5 percent expansion previously estimated. Household consumption declined by 0.8 percent, amid lower housing expenses a fall in consumption of hotel and restaurant services, while government spending was unchanged and fixed investment edged up 0.1 percent, mainly due to growing investments in total machinery and equipment including weapon systems. In addition, net exports contributed upwards to GDP growth by 0.8 percentage points as exports rose more than imports, while changes in inventories contributed downwards to GDP growth by 0.7 percentage points. Year-on-year, the economy contracted 2.2 percent in the fourth quarter. Considering 2020 full year, the GDP shrank 2.8 percent.
2021-02-26
Swedish Economy Slows More than Expected in Q4
Sweden's gross domestic product grew by 0.5 percent on quarter in the three months to December 2020, easing from a 4.9 percent expansion in the previous period and missing market expectations of a 0.7 percent gain, a preliminary estimate showed. Year-on-year, the economy shrank by 2.6 percent, following a 2.5 percent drop in the prior quarter and compared to market consensus of a 2.3 percent fall. Considering full 2020, the economy contracted 2.8 percent, much better than forecast from the central bank of a decline of 4.0 percent.
2021-02-01
Swedish Q3 GDP Rebound Revised Higher
Sweden's gross domestic product grew by 4.9 percent in the three months to September 2020, more than a 4.3 percent rebound previously estimated and following a historic slump of 8.0 percent seen in the second quarter. Household consumption increased by 6.3 percent, mainly driven by spending on transports, as well as hotel and restaurant services; and fixed investment advanced by 2.4 percent, boosted by investment in machinery and equipment. At the same time, net exports contributed upwards to GDP growth by 1.1 percentage points, as exports rose by 11.2 percent and imports by a softer 9.2 percent. General government consumption expanded by 2.0 percent as consumption in local and regional governments grew by 2.7 percent. Year-on-year, the economy shrank by 2.5 percent, compared to preliminary estimates of a 3.5 percent contraction.
2020-11-27
Swedish Economy Rebounds in Q3
Sweden's gross domestic product grew by 4.3 percent in the three months to September 2020, trying to recover from the historic slump of 8.6 percent seen in the second quarter, a preliminary estimate showed. This upswing means that the Swedish economy has recovered roughly half of the sharp contraction in the second quarter largely due to rising exports of goods. Year-on-year, the economy shrank by 3.5 percent in the third quarter, easing from a record contraction of 8.2 percent in the previous period.
2020-11-05

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.