GDP growth

Last updated: 2025-04-29

Gross Domestic Product (GDPGDP:) is a key indicator of a country’s economic performance, representing the total value of all goods and services produced within its borders each year. In the early 1990s, Sweden experienced a decline in GDPGDP:, leading to fall in its position in global rankings. However, since then, Sweden’s economy has generally grown at a faster pace than that of many other countries, helping to close the GDPGDP: gap with its international peers.

During the 1970s and 1980s, Sweden’s GDPGDP: growth trailed behind both the European average and the OECDOECD: average. The early 1990s recessionrecession: marked a particularly sharp downturn, with GDPGDP: shrinking by around four percent in realreal: terms over the three-year period from 1990 to 1993. A more modest decline followed in 2000 due to the dot-com bubble, and a more severe recessionrecession: occurred during the global financial crisis of 2008-2009. Another economic setback took place in 2020 as a result of the COVID-19 pandemic.

Despite these challenges, Sweden’s economy has shown relatively strong growth since the early 1990s, closely tracking that of the United States and outperforming the OECDOECD: average. However, in the past three years, Sweden’s growth has once again slowed compared to many other countries.

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