This study analyses energy use and CO2 emissions in the Swedish manufacturing industries between 1993 and 2008. The performance of this sector is studied in terms of CO2 emissions, energy consumption, energy intensity, energy sources, energy prices and taxes. The results show that energy consumption, energy intensity and CO2 emission intensity have reduced significantly. The decomposition analysis evidenced that decrease in the aggregate energy intensity and the aggregate CO2 emission intensity was caused by a decrease of energy intensity and substitution fuels. The factors that have influenced the results in energy intensity and CO2 emission intensity in Swedish manufacturing industries have been mainly the increase of energy price, energy taxes, investments and inter-fuel substitution.