Industrial production

Last updated: 2024-09-18

In the mid-1990s, industrial production in Sweden began to gain momentum once more after a sluggish period in the 1970s and 1980s. This resurgence continued substantially until the financial crisis struck in 2008.

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

The increase in industrial output from the mid-1990s until 2008 was primarily driven by robust growth in Swedish exports. This exportexport: surge was kickstarted by the devaluation of the Swedish Krona in 1992, which made Swedish products more competitively priced on the international market. Additionally, a significant rise in productivity across various industrial sectors further enhanced the competitiveness of Swedish goods.

However, industrial output plummeted in 2009 as a direct consequence of the financial crisis and the ensuing recessionrecession:. The recovery was further hindered by the eurozone debt crisis in 2012, which affected key trading partners. Between 2014 and 2019, industrial production began to rebound, though it did not reach the pre-crisis levels. When the COVID-19 pandemic struck in 2020, industrial production initially declined but quickly recovered.

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