Sweden GDP Growth Rate

Last Release

Dec 31, 2024

Actual

0.2

Units In

0.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
6.9 Sep 2020	-7.9 Jun 2020	0.53 %	1981-2024	Statistics Sweden

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.

Latest Updates

Sweden’s economy grew 0.8% quarter-on-quarter in Q4 2024, revised up from an initial estimate of 0.2%, and accelerated from 0.6% in Q3. This marks the strongest expansion since Q2 2022, driven primarily by net trade, as goods exports rose 0.7% (vs. 0.9% in Q3), while imports fell 0.5% (vs. -1.8%). Fixed investments sharply rebounded, rising 1.8% after stagnating in the previous quarter, while household consumption also picked up (0.7% vs. 0.2%). However, government spending growth slowed (0.1% vs. 0.4%), and changes in inventories dragged GDP down by 0.6 percentage points, mainly due to a decline in industrial inventories. On a yearly basis, GDP grew 2.4%, the fastest since Q3 2022. For the full year, the Swedish economy expanded 1%.