The Swedish economy expanded 0.6% quarter-on-quarter in the first quarter of 2023, more than the preliminary estimates and market expectations of a 0.2% rise and recovering from a 0.5% contraction in the previous period. The growth was driven mainly by the rise in fixed investments (0.5% vs -0.8% in Q4 of 2022), boosted by increased investments for machinery, equipment, and weapon systems; and government spending which was unchanged at 0.5%. Also, net trade contributed positively to the GDP, as exports increased by 1.2% (vs 0.1%), while imports rose at a softer 0.7% (vs -1.3%). On the other hand, household consumption declined further (-1.2% vs -0.2%), due to the reduced spending on transport and vehicles. On a yearly basis, the economy grew 0.8%, rebounding from an upwardly revised 0.4% drop in the prior quarter. source: Statistics Sweden
GDP Growth Rate in Sweden averaged 0.56 percent from 1981 until 2023, reaching an all time high of 7.30 percent in the third quarter of 2020 and a record low of -8.20 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 June of 2023.
GDP Growth Rate in Sweden is expected to be -1.30 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 0.40 percent in 2024 and 0.30 percent in 2025, according to our econometric models.