Swedish Industrial Inventories Rise in Q3

Industrial inventories in Sweden increased by SEK 11.67 billion in the first quarter of 2026, following a revised SEK 5.02 billion drop in the previous quarter. This marked the largest increase since records began in 2021, mainly due to a sharp rise in inventories in the manufacturing sector, which grew by SEK 11.66 billion after declining by SEK 4.32 billion in the prior period. Within the sector, notable increases were seen in the manufacture of chemicals, chemical products and pharmaceutical products (up SEK 2.94 billion), motor vehicles, trailers and semi-trailers (up SEK 2.77 billion), electrical equipment (up SEK 1.66 billion), and fabricated metal products, except machinery and equipment (up SEK 1.04 billion). Stocks held by miners also rose by SEK 0.01 billion, following a SEK 0.7 billion fall.

Industrial inventories in Sweden decreased by SEK 5.73 billion in the fourth quarter of 2025, reversing sharply from a downwardly revised SEK 2.75 billion increase in the previous quarter and marking the steepest drop since the second quarter of 2021. Inventories among manufacturers fell significantly by SEK 5.03 billion, compared with a SEK 1.97 billion advance in the previous quarter, particularly in food, beverages, and tobacco products; basic metals and fabricated metal products (excluding machinery and equipment); electrical equipment; and other transport equipment. At the same time, stocks held by miners declined by SEK 0.70 billion, following a SEK 0.78 billion rise in the third quarter.

Industrial inventories in Sweden rose by SEK 3.46 billion in the third quarter of 2025, from an upwardly revised SEK 2.33 billion in the previous quarter. Stocks held by miners increased by SEK 0.82 billion, rebounding from a SEK 0.49 billion decline in the second quarter. Meanwhile, inventories among manufacturers fell by SEK 2.65 billion, compared with a drop of SEK 2.82 billion in the previous quarter, driven by lower stocks in most sub-components, particularly paper and paper products, electrical equipment, and motor vehicles, trailers and semi-trailers.