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.

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Sweden GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-27 06:00 AM QoQ Flash Q1 0.2% -0.5% -0.1% -0.5%
2023-05-30 06:00 AM QoQ Final Q1 0.6% -0.5% 0.2% 0.2%
2023-07-28 06:00 AM QoQ Flash Q2 0.6% -1.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.60 -0.50 percent Mar 2023
GDP Annual Growth Rate 0.80 -0.40 percent Mar 2023
GDP Constant Prices 1496164.00 1487483.00 SEK Million Mar 2023
Gross National Product 1575117.00 1621273.00 SEK Million Mar 2023
Gross Fixed Capital Formation 408035.00 406126.00 SEK Million Mar 2023
Full Year GDP Growth 2.40 4.80 percent Dec 2022
GDP from Utilities 57618.00 55725.00 SEK Million Mar 2023
GDP from Transport 46252.00 44770.00 SEK Million Mar 2023
GDP from Services 685351.00 678447.00 SEK Million Mar 2023
GDP from Public Administration 257339.00 255993.00 SEK Million Mar 2023
GDP from Mining 11227.00 11232.00 SEK Million Mar 2023
GDP from Manufacturing 196006.00 199020.00 SEK Million Mar 2023
GDP from Construction 87788.00 87182.00 SEK Million Mar 2023
GDP from Agriculture 21558.00 21280.00 SEK Million Mar 2023

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 -0.50 7.30 -8.20 1981 - 2023 percent Quarterly
SA

News Stream
Swedish Q1 GDP Growth Revised Higher
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 advanced 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.
2023-05-30
Sweden Q1 GDP Beats Estimates
The Swedish economy unexpectedly grew by 0.2 percent on quarter in the three months to March 2023, shifting from a downwardly revised 0.5 percent contraction in the prior period and defying market consensus of a 0.1 percent fall, preliminary estimates showed. Compared to the same quarter last year, the economy expanded 0.3 percent in Q1, after a downwardly revised 0.2 percent decline. “The first quarter saw a minor increase in economic activity with a strong January followed by two months with lower activity,” says Mattias Kain Wyatt, an economist at Statistics Sweden.
2023-04-27
Swedish Q4 GDP Shrinks More than Initially Anticipated
The Swedish economy shrank 0.9 percent quarter-on-quarter in Q4 of 2022, compared with a flash figure of a 0.6% fall and after a downwardly revised 0.2% rise in Q3. This was the first contraction in the economy in three quarters, with both household consumption (-0.2%) and fixed investment (-0.8%) falling. Meantime, government spending grew by 0.2%, amid marginal contribution from net trade as exports dropped by 1.0% while imports were down 1.1%. On an annual basis, the economy also contracted 0.9%, the first drop since Q4 of 2020, after an upwardly revised 2.7% expansion in Q3.
2023-02-28