Sweden's gross domestic product shrank 0.8 percent on quarter in the three months to March 2022, compared with the flash figure of a 0.4 percent contraction and after a final 1.1 percent expansion in the previous period. It was the first decline in GDP since the second quarter of 2020, amid a broad-based downturn in household consumption, government spending, and fixed investment. In addition, net exports contributed negatively, as imports increased considerably more than imports. Year-on-year, the GDP advanced 3 percent, compared with estimates of a 3.5 percent growth and after a 5.2 percent expansion in the December quarter. The government sees growth at 3.1 percent this year. source: Statistics Sweden

GDP Growth Rate in Sweden averaged 0.55 percent from 1981 until 2022, reaching an all time high of 7 percent in the third quarter of 2020 and a record low of -7.80 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 July of 2022.

GDP Growth Rate in Sweden is expected to be 0.30 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 0.30 percent in 2023 and 0.40 percent in 2024, according to our econometric models.

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Sweden GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-28 06:00 AM QoQ Flash Q1 -0.4% 1.1% -0.5% -0.3%
2022-05-30 06:00 AM QoQ Final Q1 -0.8% 1.1% -0.4% -0.6%
2022-07-28 06:00 AM QoQ Flash Q2 0.3%


Related Last Previous Unit Reference
GDP Growth Rate -0.80 1.10 percent Mar 2022
GDP Annual Growth Rate 3.00 5.20 percent Mar 2022
GDP Constant Prices 1377350.00 1329535.00 SEK Million Mar 2022
Gross National Product 1414526.00 1491778.00 SEK Million Mar 2022
Gross Fixed Capital Formation 345863.00 331120.00 SEK Million Mar 2022
Full Year GDP Growth 4.80 -2.80 percent Dec 2021
GDP From Utilities 39480.00 30099.00 SEK Million Mar 2022
GDP From Transport 46958.00 45465.00 SEK Million Mar 2022
GDP From Services 643221.00 629150.00 SEK Million Mar 2022
GDP From Public Administration 241309.00 236145.00 SEK Million Mar 2022
GDP From Mining 9810.00 7808.00 SEK Million Mar 2022
GDP From Manufacturing 173270.00 167743.00 SEK Million Mar 2022
GDP From Construction 82195.00 74754.00 SEK Million Mar 2022
GDP From Agriculture 17390.00 17054.00 SEK Million Mar 2022

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
-0.80 1.10 7.00 -7.80 1981 - 2022 percent Quarterly

News Stream
Sweden Q1 GDP Shrinks More than Initially Thought
Sweden's gross domestic product shrank 0.8 percent on quarter in the three months to March 2022, compared with the flash figure of a 0.4 percent contraction and after a final 1.1 percent expansion in the previous period. It was the first decline in GDP since the second quarter of 2020, amid a broad-based downturn in household consumption, government spending, and fixed investment. In addition, net exports contributed negatively, as imports increased considerably more than imports. Year-on-year, the GDP advanced 3 percent, compared with estimates of a 3.5 percent growth and after a 5.2 percent expansion in the December quarter. The government sees growth at 3.1 percent this year.
2022-05-30
Swedish GDP Contracts Less than Expected
Sweden's gross domestic product shrank 0.4 percent on quarter in the three months to March 2022, after a 1.1 percent expansion in the previous period and compared to market expectations of a 0.5 percent contraction. It was the first decline in GDP since the second quarter of 2020 amid lingering bottlenecks and supply disruptions. Still, the export-led economy grew 1 percent in March from February. Year-on-year, the GDP advanced 3 percent, easing from a 5.2 percent growth in Q4, preliminary estimates showed. The government sees growth at 3.1 percent this year.
2022-04-28
Sweden Q4 GDP Growth Revised Lower
Sweden's economy expanded by 1.1 percent on a quarterly basis in the three months to December 2021, compared with a preliminary estimate of 1.4 percent and slowing from a downwardly revised 1.9 percent growth in Q3. Household consumption advanced by 1.4 percent, mostly underpinned by spending in leisure and entertainment, and public spending went up 0.3 percent. Net exports rose 1.0 percent, as exports were up 3.4 percent against a 2.4 percent increase in imports. Conversely, gross fixed capital formation edged down by 0.1 percent, weighed down by lower investment in building and facilities. On an annual basis, the economy expanded by 5.2 percent in the fourth quarter.
2022-02-28