GDP growth

Last updated: 2025-04-29

Gross Domestic Product (GDP:GDP) 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 GDP:GDP, 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 GDP:GDP gap with its international peers.

During the 1970s and 1980s, Sweden’s GDP:GDP growth trailed behind both the European average and the OECD:OECD average. The early 1990s Recession:recession marked a particularly sharp downturn, with GDP:GDP shrinking by around four percent in Real:real 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 Recession:recession 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 OECD:OECD average. However, in the past three years, Sweden’s growth has once again slowed compared to many other countries.