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.