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. 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 January 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
2022-11-29 07:00 AM QoQ Final Q3 0.6% 0.7% 0.7% 0.7%
2023-01-30 07:00 AM QoQ Flash Q4 -0.6% 0.6% 0.1%
2023-02-28 07:00 AM QoQ Final Q4 0.6% -0.6% -0.6%


Related Last Previous Unit Reference
GDP Growth Rate -0.60 0.60 percent Dec 2022
GDP Annual Growth Rate -0.60 2.50 percent Dec 2022
GDP Constant Prices 1405464.00 1397086.00 SEK Million Sep 2022
Gross National Product 1500629.00 1574494.00 SEK Million Sep 2022
Gross Fixed Capital Formation 375024.00 370551.00 SEK Million Sep 2022
Full Year GDP Growth 2.40 4.80 percent Dec 2022
GDP from Utilities 50306.00 48436.00 SEK Million Sep 2022
GDP from Transport 48780.00 49516.00 SEK Million Sep 2022
GDP from Services 660467.00 658535.00 SEK Million Sep 2022
GDP from Public Administration 243458.00 242057.00 SEK Million Sep 2022
GDP from Mining 11724.00 11915.00 SEK Million Sep 2022
GDP from Manufacturing 176981.00 170912.00 SEK Million Sep 2022
GDP from Construction 83293.00 82295.00 SEK Million Sep 2022
GDP from Agriculture 16675.00 17001.00 SEK Million Sep 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
-0.60 0.60 7.50 -8.10 1981 - 2022 percent Quarterly
SA

News Stream
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
Sweden GDP Unexpectedly Grows in Q3
The Swedish economy expanded 0.7% on quarter in the three months to September of 2022, beating market forecasts of a 0.1% drop, preliminary estimates showed. It follows an upwardly revised 1.4% rise in the previous period. Compared to the same quarter last year, the economy grew 2.6% in Q3. “Swedish GDP bounced up in September following an August dip. Together with strong figures for July this contributed to growth in the third quarter as a whole” says Mattias Kain Wyatt, economist at Statistics Sweden.
2022-10-28