Industrial production

Last updated: 2026-02-11

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

Industrial Production in Sweden Since the 1990s

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

However, industrial production dropped sharply in 2009 as a direct result of the global financial crisis and the subsequent Recession:recession. The recovery was further hampered 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.