This page has economic forecasts for Sweden including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Sweden economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.80 0.5 0.4 0.4 0.6 0.6 percent
Unemployment Rate 6.00 5.8 6.2 5.9 5.9 6.5 percent
Inflation Rate 2.30 2.2 2.3 2.4 2.4 2 percent
Interest Rate -0.50 -0.5 -0.25 -0.25 0 0.5 percent
Balance of Trade 1400.00 -3700 1600 6000 -600 -2000 SEK million
Government Debt to GDP 40.60 38 37 37 37 36 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 9.12
9.07 9.14 9.21 9.28 9.57
Stock Market 1514.59
points
1649 1632 1614 1597 1529
Government Bond 10Y 0.63
percent
0.67 0.71 0.75 0.79 1
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.80
percent
0.5 0.4 0.4 0.6 0.6
GDP Annual Growth Rate 2.50
percent
2.1 2.3 2.4 2.7 2.6
GDP 538.04
USD Billion
555 575 575 575 600
GDP Constant Prices 1171816.00
SEK Million
1180856 1189668 1199940 1203455 1241847
Gross National Product 1215567.00
SEK Million
1258534 1195419 1244741 1248387 1323537
Gross Fixed Capital Formation 294518.00
SEK Million
294997 302846 301586 302470 310233
GDP per capita 56935.19
USD
56970 57210 57210 57210 58000
GDP per capita PPP 46949.28
USD
47000 48000 48000 48000 49000
GDP From Agriculture 12069.00
SEK Million
12402 12341 12359 12395 13043
GDP From Construction 66546.00
SEK Million
66927 67942 68143 68343 70383
GDP From Manufacturing 160748.00
SEK Million
161713 163846 164606 165088 170066
GDP From Mining 5087.00
SEK Million
5279 5288 5209 5224 5551
GDP From Public Administration 206581.00
SEK Million
211660 210519 211539 212159 222593
GDP From Services 542879.00
SEK Million
542771 548366 555908 557537 570805
GDP From Transport 43449.00
SEK Million
44048 44356 44492 44622 46323
GDP From Utilities 29349.00
SEK Million
29703 30072 30053 30141 31237
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 6.00
percent
5.8 6.2 5.9 5.9 6.5
Employed Persons 5119.00
Thousand
5099 5090 5087 5085 5084
Unemployed Persons 330.00
Thousand
339 345 345 345 345
Long Term Unemployment Rate 1.30
percent
1.3 1.31 1.35 1.35 1.39
Youth Unemployment Rate 17.00
percent
17.38 17.54 17.62 17.67 17.81
Labour Costs 130.60
Index Points
132 133 133 134 141
Job Vacancies 818.00
Hundred
1125 1111 968 1009 1033
Wages 168.00
SEK/Hour
173 171 170 170 180
Wages in Manufacturing 179.30
SEK/Hour
182 180 182 182 190
Population 10.12
Million
10.12 10.21 10.21 10.21 10.32
Retirement Age Women 61.00
61 61 61 61 61
Retirement Age Men 61.00
61 61 61 61 61
Labor Force Participation Rate 73.70
percent
70.67 71.08 71.39 71.34 71.3
Part Time Employment 1136.60
Thousand
1135 1133 1136 1123 1134
Productivity 105.80
Index Points
107 104 106 116 108
Employment Change 0.30
percent
0.3 0.25 0.27 0.25 0.29
Employment Rate 69.20
percent
68.33 68.09 67.98 67.94 67.9
Full Time Employment 3787.90
Thousand
3769 3744 3834 3909 3840
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 2.30
percent
2.2 2.3 2.4 2.4 2
Inflation Rate Mom 0.50
percent
0.33 0.2 0.19 0.22 0.22
Harmonised Consumer Prices 106.05
Index Points
106 107 108 109 111
Consumer Price Index CPI 331.14
Index Points
332 333 337 339 346
Core Consumer Prices 216.83
Index Points
217 218 220 222 228
Core Inflation Rate 2.50
percent
2 2.2 2.3 2.3 2.6
Producer Prices 129.70
Index Points
125 126 130 133 131
Producer Prices Change 10.10
percent
2.5 2.3 2.2 2.4 2.5
Export Prices 127.30
Index Points
129 130 130 130 130
Import Prices 128.20
Index Points
128 129 128 129 129
Food Inflation 3.10
percent
2.7 2.4 2.2 1.9 2
Inflation Expectations 3.20
percent
3 3 2.8 2.5 2.2
CPI Housing Utilities 406.31
Index Points
401 410 410 416 417
CPI Transportation 447.45
Index Points
447 445 459 458 465
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate -0.50
percent
-0.5 -0.25 -0.25 0 0.5
Interbank Rate -0.47
percent
-0.49 -0.24 -0.24 0.01 0.51
Money Supply M0 57430.00
SEK Million
57967 57438 57988 57448 57990
Money Supply M3 3401938.00
SEK Million
3434986 3474849 3515542 3556021 3903658
Banks Balance Sheet 13141940.00
SEK Million
13116254 13190612 13144024 13196795 13152498
Foreign Exchange Reserves 541475.00
SEK Million
540322 541302 541263 541235 541241
Loans to Private Sector 1409842.00
SEK Million
1423166 1432074 1439303 1445152 1466135
Deposit Interest Rate -1.25
percent
-1.25 -1 -1 -0.75 -0.25
Private Debt to GDP 271.50
percent
271 272 272 272 273
Money Supply M1 2866274.00
SEK Million
2905873 2950907 2997545 3044579 3458078
Money Supply M2 3303322.00
SEK Million
3341420 3384876 3429834 3475238 3879289
Lending Rate 0.25
percent
0.25 0.5 0.5 0.75 1.25
Loan Growth 5.90
percent
5.59 5.33 5.1 4.9 3.77
Central Bank Balance Sheet 936179.00
SEK Million
938056 937108 937567 937488 937516
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 1400.00
SEK million
-3700 1600 6000 -600 -2000
Exports 122300.00
SEK million
112500 127000 124000 117500 122500
Imports 120900.00
SEK million
116200 125400 118000 118100 124500
Current Account 10.00
SEK Billion
19.83 10.56 10.94 18.96 11.24
Current Account to GDP 3.20
percent
3 2.7 2.7 2.7 3.4
External Debt 8882.60
SEK Billion
9049 9277 9259 9361 9437
Terms of Trade 99.30
Index Points
101 101 101 101 101
Foreign Direct Investment 10303.00
SEK Million
29110 31295 24769 32451 33534
Capital Flows -9.50
SEK Billion
-3.7 9.91 5.24 8.84 5.54
Remittances 18.00
SEK Billion
16.52 16.47 17.21 16.13 16.61
Gold Reserves 125.70
Tonnes
126 126 126 126 126
Terrorism Index 3.76
3.76 3.76 3.76 3.76 3.76
Weapons Sales 83.00
USD Million
225 211 196 181 208
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 40.60
percent
38 37 37 37 36
Government Budget 1.30
percent of GDP
0.5 1.1 1.1 1.1 1.5
Government Budget Value 6668.00
SEK Million
6459 8105 8221 8387 8431
Government Spending 301742.00
SEK Million
306545 307725 308984 309889 322378
Government Spending to GDP 49.10
percent
48.5 48 48 49.1 47.5
Government Revenues 78451.00
SEK Million
83480 85135 85650 85776 85795
Government Debt 1200033.00
SEK Million
1201179 1201267 1201283 1201286 1201287
Fiscal Expenditure 71783.00
SEK Million
79003 77031 77428 77389 77364
Military Expenditure 5470.40
USD Million
5512 5517 5521 5526 5556
Asylum Applications 1575.00
persons
3328 3235 3095 3084 3109
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 106.30
Index Points
109 108 105 105 106
Manufacturing PMI 55.00
54.8 54.6 54 54.89 54
Services Pmi 56.30
Index Points
56.5 56.2 56 56.61 55.5
Industrial Production 1.70
percent
4.5 3.6 3.2 1.04 2.4
Industrial Production Mom 0.20
percent
0.8 0.6 0.5 0.08 0.7
Manufacturing Production 1.80
percent
5.6 4.8 5.3 5.7 5.4
Capacity Utilization 90.90
percent
90.5 89.91 89.39 88.86 90.9
New Orders 113.20
Index Points
107 107 105 105 105
Changes in Inventories 10173.00
SEK Million
-2815 18120 8323 16385 4634
Bankruptcies 547.00
Companies
620 592 602 598 599
Car Registrations 24128.00
39544 20111 36998 27453 32754
Internet Speed 22543.09
KBps
25812 25658 25625 26531 29625
IP Addresses 5500163.00
IP
5499902 5501915 5503606 5504634 5507452
Mining Production 2.30
percent
2.83 3.23 3.42 3.51 3.62
Steel Production 260.28
Thousand Tonnes
381 374 375 375 375
Competitiveness Index 81.66
Points
82.16 82.16 82.16 82.16 84.66
Competitiveness Rank 9.00
9 9 9 9 9
Business Inventories 2934.07
SEK Million
1974 6760 2374 916 3386
Corruption Index 84.00
Points
84 84 84 84 84
Corruption Rank 6.00
6 6 6 6 6
Ease of Doing Business 12.00
8 9 9 10 9
Electricity Production 9899.00
Gigawatt-hour
14221 14867 11979 11478 13158
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 99.50
Index Points
103 104 99.69 99.65 103
Retail Sales MoM 0.50
percent
-0.3 0.5 0.14 0.14 0.5
Retail Sales YoY 2.10
percent
2.6 2.5 1.61 1.62 2.2
Consumer Spending 521833.00
SEK Million
525699 529313 534357 535922 552851
Disposable Personal Income 690463.00
SEK Million
574611 567700 569195 568872 568929
Personal Savings 31.42
percent
9.8 15.58 31.11 14.82 9.78
Private Sector Credit 6.00
percent
5.76 5.64 5.53 5.44 5
Gasoline Prices 1.65
USD/Liter
1.53 1.44 1.36 1.27 1.08
Household Spending 0.10
percent
-0.2 1 -0.3 0.4 0.3
Households Debt To GDP 87.70
percent of GDP
87.74 87.67 87.74 87.67 87.74
Households Debt To Income 162.67
percent
167 168 169 170 179
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Construction Output -1.60
percent
-2.87 -2.32 -2.54 -2.54 -2.51
Housing Index 231.12
Index points
231 231 231 231 231
Housing Starts 12.82
Thousand units
13.37 12.48 13.32 12.51 13.31
Home Ownership Rate 65.20
percent
64.56 64.44 64.33 64.21 63.35
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 22.00
percent
22 22 22 22 22
Personal Income Tax Rate 61.85
percent
61.85 61.85 61.85 61.85 61.85
Sales Tax Rate 25.00
percent
25 25 25 25 25
Social Security Rate 38.42
percent
38.42 38.42 38.42 38.42 38.42
Social Security Rate For Companies 31.42
percent
31.42 31.42 31.42 31.42 31.42
Social Security Rate For Employees 7.00
percent
7 7 7 7 7
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature -3.07
celsius
-2.4 -6.9 7.14 4.29 2.45
Precipitation 65.16
mm
53.13 37.34 55.91 55.91 52.98



Sweden - Economic Forecasts - 2018-2020 Outlook