Industrial production

Last updated: 2025-04-29

In the mid-1990s, Sweden’s industrial production began to regain momentum after a sluggish performance throughout the 1970s and 1980s. This recovery continued steadily until the onset of the global financial crisis in 2008.

The chart above illustrates the historical development of industrial production in Sweden since 1913.

From the mid-1990s until 2008, industrial output grew significantly, driven primarily by strong exportexport: growth. This surge in exports was initiated by the 1992 devaluation of the Swedish krona, which made Swedish goods more competitively priced on the global market. In addition, a notable increase in productivity across various industrial sectors further boosted the competitiveness of Swedish industry.

However, industrial production dropped sharply in 2009 as a direct result of the global financial crisis and the subsequent recessionrecession:. Recovery was further hindered by the eurozone debt crisis in 2012, which affected several of Sweden’s key trading partners. Between 2014 and 2019, industrial output gradually rebounded, though it remained below pre-crisis levels. When the COVID-19 pandemic hit in 2020, industrial production initially declined but recovered quickly thereafter.

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