National accounts, second quarter 2025
GDP increased in the second quarter 2025
Statistical news from Statistics Sweden 2025-08-29 8.00
GDP increased by 0.5 percent in the second quarter 2025, seasonally adjusted and compared with the previous quarter. The upturn is explained by increases in gross capital formation, exports and household consumption. Calendar adjusted and compared with the second quarter of 2024, GDP increased by 1.4 percent.
– GDP increased slightly in the second quarter with significant contributions from gross fixed capital formation and changes in inventories. Increased imports of both goods and services dampened the 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 second 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 0.4 percent. Examples of consumption purposes that increased were transport, recreation, sport and culture as well as food.
- General government consumption increased by 0.2 percent. Local and regional governments rose by 0.2 percent and central government consumption increased by 0.1 percent.
- Changes in inventories contributed positively to GDP-growth by 1.1 percentage points mainly due to changes in trade inventories.
- Gross fixed capital formation increased by 1.7 percent. The increase was mainly due to investments in machinery and equipment and weapon systems.
- Exports rose by 0.7 percent and imports increased by 3.1 percent. Net exports contributed negatively to GDP-growth by 1.3 percentage points.
- Value added in the business sector increased by 0.6 percent. In the goods-producing industries, value added remained essentially unchanged, and in the service-producing industries, value added increased by 0.9 percent. Government value added decreased by 0.4 percent.
- The total number of employed persons increased by 0.1 percent. The number of hours worked decreased by 0.4 percent in the whole economy and fell by 0.6 percent in the business sector. Labour productivity in the business sector rose by 1.2 percent.
- Household real disposable income increased by 2.5 percent compared with the second quarter of 2024.
- Public administration showed a surplus of SEK 26.3 billion in the second quarter of 2025. This can be compared with a surplus of SEK 20.4 billion during the same quarter in 2024.
| Current prices, SEK millions | Seasonally and calendar adjusted values | Non-adjusted values | ||
|---|---|---|---|---|
| 2025 q2 | Volume change, cf. with previous quarter,% | Contribution to GDP volume change, cf. with previous quarter,% points | Volume change, cf. with corresponding quarter last year,% | |
| GDP at market prices | 1 648 514 | 0.5 | 0.5 | 0.9 |
| Imports | 843 478 | 3.1 | ‑1.7 | 6.4 |
| Goods (SPIN A01–F43) | 508 172 | 2.4 | ‑0.8 | 5.0 |
| Services (SPIN G45–T98) | 335 306 | 4.4 | ‑0.9 | 8.8 |
| Total domestic supply | 2 491 992 | 1.4 | 2.8 | |
| Household consumption expenditure | 771 422 | 0.4 | 0.2 | 1.5 |
| Households excluding NPISH | 750 067 | 0.4 | 0.2 | 1.5 |
| NPISH [1] | 21 355 | 0.2 | 0.0 | 2.4 |
| Public consumption expenditure | 431 809 | 0.2 | 0.0 | 0.0 |
| Central government | 118 997 | 0.1 | 0.0 | 1.1 |
| Municipalities [2] | 312 812 | 0.2 | 0.0 | ‑0.4 |
| Gross fixed capital formation | 416 977 | 1.7 | 0.4 | 1.0 |
| Inventories [3] | 2 278 | 1.1 | ||
| Exports | 869 506 | 0.7 | 0.4 | 3.8 |
| Goods (SPIN A01–F43) | 575 221 | 0.7 | 0.3 | 3.0 |
| Services (SPIN G45–T98) | 294 285 | 0.7 | 0.1 | 5.6 |
| Total domestic demand | 2 491 992 | 1.4 | 2.8 | |
(1) Non-profit institutions serving households (2) Including regional governments (3) Including changes in valuables
| 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 | 1.4 |
| Goods producers (SNI A01-F43) | 0.0 | ‑1.4 |
| Manufacturing (SNI C10-C33) | 0.5 | 0.2 |
| Service producers (SNI G45-T98) | 0.9 | 3.5 |
| Market production [1] | 0.6 | 1.9 |
| Government production | ‑0.4 | ‑0.8 |
| Hours worked [2] | ‑0.4 | ‑0.7 |
(1) Excluding tariffs and net product taxes (2) In the whole economy
Revisions
The quarters of 2024 and the first quarter 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.
| 2024 q1 | 2024 q2 | 2024 q3 | 2024 q4 | Calendar year 2024 | 2025 q1 | 2025 q2 | |
|---|---|---|---|---|---|---|---|
| 2025-08-29 | ‑0.6 | 0.8 | 1.6 | 1.5 | 0.8 | 0.1 | 0.9 |
| 2025-05-30 | ‑0.5 | 1.1 | 1.5 | 1.9 | 1.0 | 0.4 |
| 2024 q1 | 2024 q2 | 2024 q3 | 2024 q4 | 2025 q1 | 2025 q2 | |
|---|---|---|---|---|---|---|
| 2025-08-29 | 0.9 | ‑0.3 | 0.8 | 0.4 | ‑0.2 | 0.5 |
| 2025-05-30 | 1.0 | 0.0 | 0.6 | 0.5 | ‑0.2 |
Next publishing will be
The GDP indicator for the third quarter of 2025 will be published on 2025-10-29 at 8:00.
Complete quarterly national accounts for the third quarter of 2025 will be published on 2025-11-28 at 8:00.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.