december 23rd, 2014
New statistics from Statistics Sweden show that the gross domestic product (GDP) growth in Sweden was -0.3% in 2012. Despite the weak performance of the country, six provinces showed a positive trend in gross regional product (GRP). The largest volume growth in 2012 had Västerbotten, Värmland and Gävleborg.
Of all the provinces in Sweden, Västerbotten showed the highest increase in GRP, with a volume increase of 2.5%. Other provinces with positive volume growth in 2012 was Värmland (2.0%), Gävleborg (1.9%) and Uppsala and Örebro (1.3%). The volume growth for Stockholm was 0.9%. Other provinces showed no or negative growth in volume of GRP.
This report reinforces the results previously reported from the national agency Growth analysis about foreign companies in Sweden. This report showed that Västerbotten had the highest employment growth from foreign owned companies followed by Värmland and Uppsala. This indicates that there is a correlation between foreign company activity and economic growth.
GRP, volume change (%) 2013 vs 2012