Sweden’s national wealth declined in 2025 after reaching a record level the previous year, according to new figures released by Statistics Sweden (SCB).
The country’s national wealth fell by SEK 126 billion during the year, leaving total net wealth at SEK 40.086 trillion at the end of 2025. The decline followed a strong increase in 2024, when gains in financial asset values pushed national wealth to its highest level on record.
‘Relatively large increase’
“After a relatively large increase in national wealth in 2024, we saw a slowdown again in 2025,” commented Gustav Engström Gibbs, economist at Statistics Sweden. “The previous peak recorded in 2024 was mainly due to large increases in the value of financial assets.
“In 2025, the financial increase in value was significantly lower at the same time as the financial liabilities increased even more. The increase in financial liabilities is mainly related to increased values of foreign-owned shares and fund units.”
Asset growth
Despite the overall decline in net wealth, both financial and non-financial assets continued to grow, SCB noted.
The value of non-financial assets, including buildings, inventories and natural resources, increased from SEK 35.8 trillion in 2024 to SEK 36.3 trillion in 2025. Financial assets, which include shares, deposits and tenant-owned apartments, rose from SEK 96.4 trillion to SEK 98.3 trillion.
At the same time, total liabilities increased more rapidly, rising from SEK 92.0 trillion to SEK 94.5 trillion. The larger increase in debt offset gains in asset values and resulted in the decline in overall national wealth.
Long-term trends
As SCB noted, Sweden’s national wealth has increased substantially over the past 15 years. Since 2010, total wealth has grown by 146%, driven largely by a 154% increase in financial assets. Non-financial assets rose by 117% over the same period, while total liabilities increased by 142%.
Households remain the dominant holders of wealth in Sweden. At the end of 2025, households accounted for 71% of total net wealth, up three percentage points from the previous year. Public administration held 22%, while financial and non-financial corporations together accounted for 5%. Non-profit organisations held the remaining 3%.
Wealth distribution
Statistics Sweden noted that the distribution of wealth has shifted significantly over recent decades.
“At the beginning of the time series and until the beginning of the 90s, wealth was relatively evenly distributed between households, corporations and public administration,” added Evelina Söderblom, economist at Statistics Sweden.
“During the 1990s, households’ share increased drastically at the expense of public administration and companies. Since then, households’ share has continued to increase and at the end of 2025, households owned almost three-quarters of total wealth.” Read more here.
