The Swedish economy shrank 1.2 percent year-on-year in the third quarter of 2023, falling further from a 1 percent decline in the previous period and marking the largest contraction since the second quarter of 2020, preliminary estimates showed. source: Statistics Sweden

GDP Annual Growth Rate in Sweden averaged 2.22 percent from 1982 until 2023, reaching an all time high of 10.70 percent in the second quarter of 2021 and a record low of -8.10 percent in the second quarter of 2020. This page provides - Sweden GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sweden GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2023.

GDP Annual 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. In the long-term, the Sweden GDP Annual Growth Rate is projected to trend around 0.70 percent in 2024 and 1.70 percent in 2025, according to our econometric models.

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Sweden GDP Annual Growth Rate


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-08-29 06:00 AM YoY Final Q2 -1% 1% -1% -2.4%
2023-10-30 07:00 AM YoY Flash Q3 -1.2% -1% -0.6%
2023-11-29 07:00 AM YoY Final Q3 -1% -1.2% -1.2%


Related Last Unit Reference
GDP Growth Rate 0.00 percent Sep 2023
GDP Annual Growth Rate -1.20 percent Sep 2023
GDP Constant Prices 1483449.00 SEK Million Jun 2023
Gross National Product 1641978.00 SEK Million Jun 2023
Gross Fixed Capital Formation 400304.00 SEK Million Jun 2023
Full Year GDP Growth 2.80 percent Dec 2022
GDP from Utilities 56240.00 SEK Million Jun 2023
GDP from Transport 41510.00 SEK Million Jun 2023
GDP from Services 677264.00 SEK Million Jun 2023
GDP from Public Administration 255484.00 SEK Million Jun 2023
GDP from Mining 11155.00 SEK Million Jun 2023
GDP from Manufacturing 197863.00 SEK Million Jun 2023
GDP from Construction 84894.00 SEK Million Jun 2023
GDP from Agriculture 22388.00 SEK Million Jun 2023

Sweden GDP Annual Growth Rate
Sweden has an economy heavily oriented toward foreign trade with timber, hydro-power, and iron ore constituting its resource base. Engineering sector accounts for about 50 percent of output and exports. On the expenditure side, household consumption is the main component of 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
-1.20 -1.00 10.70 -8.10 1982 - 2023 percent Quarterly
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