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. source: Statistics Sweden

GDP Growth Rate in Sweden averaged 0.53 percent from 1981 until 2020, reaching an all time high of 4.90 percent in the third quarter of 2020 and a record low of -8 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 December of 2020.

GDP Growth Rate in Sweden is expected to be -0.80 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 1.20 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.80 percent in 2021 and 0.40 percent in 2022, according to our econometric models.

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Sweden GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.90 -8.00 4.90 -8.00 1981 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-05 07:30 AM QoQ Flash Q2 -8.6% 0.1% -4.2%
2020-08-28 07:30 AM QoQ Final Q2 -8.3% 0.2% -8.6% -8.6%
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%
2021-03-01 08:30 AM QoQ Q4 4.9%
2021-05-05 07:30 AM QoQ Flash Q1
2021-05-28 07:30 AM QoQ Final Q1
2021-08-05 07:30 AM QoQ Flash Q2


News Stream
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 Posts Historic GDP Decline in Q2
Sweden's gross domestic product shrank by 8.3 percent in the three months to June 2020, the steepest contraction since records began in 1981 and compared to a preliminary estimate of an 8.6 percent slump. Household consumption decreased by 7.7 percent led by lower spending on restaurant and hotel services, as well as lower household consumption abroad, while fixed investment dropped by 4.5 percent mainly explained by reduced investments in machinery and equipment. Public spending also declined by 2.4 percent and net external demand contributed negatively to the GDP as exports tumbled by 18.2 percent and imports decreased by 12.9 percent.
2020-08-28
Swedish GDP Contracts at Record Pace
The Swedish GDP shrank 8.6 percent on quarter in the three months to June of 2020, down from a 0.1 percent expansion in the previous period, a preliminary estimate showed. It was the biggest contraction on record, as the economy was hit by the coronavirus pandemic despite not imposing coronavirus lockdowns. Many people were following social-distancing recommendations and limiting travel. On a year-on-year basis, the economy contracted 8.2 percent, also a record, and following a 0.4 percent growth in Q1.
2020-08-05

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.