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 January of 2021.
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.