Fourth quarter 2025
GDP increased in the fourth quarter 2025
Statistical news from Statistics Sweden 2026-02-27 8.00
GDP increased by 0.5 percent in the fourth quarter of 2025, seasonally adjusted and compared with the previous quarter. The upturn is mainly explained by gross fixed capital formation and general government final consumption. Calendar adjusted and compared with the fourth quarter of 2024, GDP increased by 2.1 percent. GDP in the full year of 2025 rose by 1.5 percent compared with 2024.
- GDP continued to rise in the last quarter of 2025 mainly explained by large increases in central government expenditure. Household consumption also increased while declines in exports counteracted growth, says Jessica Engdahl, head of section at the National Accounts.
What is GDP?
Gross domestic product, GDP, is defined as the value of all goods and services produced in the country. GDP is used as a measure of economic growth and is published quarterly.
Summary of the fourth quarter
Percentages refer to seasonally adjusted volume changes compared with the previous quarter, unless otherwise stated. Tables available at the end of this statistical news also show volume changes in relation to the corresponding quarter the previous year.
- Household final consumption increased by 0.9 percent. Examples of consumption purposes that increased were information and communication, housing as well as furnishings.
- General government consumption increased by 2.3 percent. Central government consumption rose by 8.3 percent while local and regional governments were essentially unchanged.
- Changes in inventories contributed negatively to GDP-growth by 0.5 percentage points. A decline in industrial inventories contributed the most.
- Gross fixed capital formation rose by 2.9 percent. The increase was mainly due to machinery and equipment and weapon systems. General government investments rose by 28 percent while those of market producers fell by 3.5 percent.
- Exports fell by 1.2 percent and imports were essentially unchanged. Net exports contributed negatively to GDP by 0.7 percentage points, driven by weak net exports concerning goods.
- Value added in the business sector increased by 0.5 percent. In the goods-producing industries, value added rose by 0.1 percent and value added in the service-producing industries increased by 0.7 percent. Government value added rose by 0.1 percent.
- The total number of employed persons increased by 0.2 percent. The number of hours worked fell by 0.2 percent in the whole economy and by 0.4 percent in the business sector. Labour productivity in the business sector increased by 0.9 percent.
- Household real disposable income increased by 1.3 percent compared with the fourth quarter of 2024.
- Public administration showed a deficit of SEK 94.2 billion in the fourth quarter of 2025. This can be compared with a deficit of SEK 66.5 billion during the same quarter in 2024.
GDP, seasonally adjusted, volume changes and levels in constant prices (reference year 2024), SEK billion:
GDP - Expenditure approach
| Current prices, SEK millions | Seasonally and calendar adjusted values | Non-adjusted values | ||
|---|---|---|---|---|
| 2025 kv4 | Volymförändring, jmf med föregående kv, % | Bidrag till BNP:s volymförändring, jmf med föregående kv, %-enheter [3] | Volymförändring, jmf med motsv kv föregående år, % | |
| GDP at market prices | 1 747 382 | 0.5 | 0.5 | 2.1 |
| Imports | 877 927 | 0.0 | 0.0 | 3.3 |
| Goods (SPIN A01–F43) | 519 503 | 0.7 | -0.2 | 3.7 |
| Services (SPIN G45–T98) | 358 424 | -1.0 | 0.2 | 2.6 |
| Total domestic supply | 2 625 309 | 0.3 | 2.5 | |
| Household consumption expenditure | 787 176 | 0.9 | 0.4 | 2.5 |
| Households excluding NPISH | 765 439 | 0.8 | 0.4 | 2.4 |
| NPISH [1] | 21 737 | 2.9 | 0.0 | 6.1 |
| Public consumption expenditure | 473 922 | 2.3 | 0.6 | 2.4 |
| Central government | 143 739 | 8.3 | 0.6 | 9.0 |
| Municipalities [2] | 330 183 | 0.0 | 0.0 | 0.0 |
| Gross fixed capital formation | 490 912 | 2.9 | 0.7 | 4.2 |
| Inventories [3] | -29 322 | -0.5 | ||
| Exports | 902 621 | -1.2 | -0.7 | 2.0 |
| Goods (SPIN A01–F43) | 571 817 | -1.5 | -0.6 | 1.5 |
| Services (SPIN G45–T98) | 330 804 | -0.7 | -0.1 | 3.0 |
| Total domestic demand | 2 625 309 | 0.3 | 2.5 | |
GDP - Production approach
| Seasonally and calendar adjusted values | Calendar adjusted values | |
|---|---|---|
| Volume change, cf. with previous quarter,% | Volume change, cf. with corresponding quarter last year,% | |
| GDP at market prices | 0.5 | 2.1 |
| Goods producers (SNI A01-F43) | 0.1 | -0.6 |
| Manufacturing (SNI C10-C33) | -1.4 | -1.5 |
| Service producers (SNI G45-T98) | 0.7 | 3.7 |
| Market production [1] | 0.5 | 2.2 |
| Government production | 0.1 | 0.8 |
| Hours worked [2] | -0.2 | -0.6 |
Revisions
The quarters of 2024 as well as the first three quarters of 2025 have been revised in non-adjusted and seasonally adjusted values compared to the previous publication. GDP-growth in the current and the previous publications is shown in the tables below.
GDP growth, non-adjusted and compared with the corresponding quarter of the previous year, percent, current and previous publication
| 2024 q1 | 2024 q2 | 2024 q3 | 2024 q4 | Calendar year 2024 | 2025 q1 | 2025 q2 | 2025 q3 | 2025 q4 | Calendar year 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026‑02‑27 | -0.4 | 1.1 | 1.3 | 2.0 | 1.0 | -0.2 | 1.7 | 2.6 | 2.1 | 1.5 |
| 2025‑11‑28 | -0.6 | 0.9 | 1.6 | 1.9 | 0.9 | 0.1 | 1.3 | 2.6 |
GDP growth, seasonally adjusted and compared with the previous quarter, percent, current and previous publication
| 2024 q1 | 2024 q2 | 2024 q3 | 2024 q4 | 2025 q1 | 2025 q2 | 2025 q3 | 2025 q4 | |
|---|---|---|---|---|---|---|---|---|
| 2026‑02‑27 | 1.5 | -0.7 | 0.6 | 1.0 | -0.3 | 1.0 | 0.8 | 0.5 |
| 2025‑11‑28 | 1.2 | -0.4 | 0.6 | 0.7 | -0.1 | 0.8 | 1.1 |
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