Magento 2 site speed is an important factor for Google to decide the rankings! Hence it is important to speed up Magento 2!
How to Speed Up Magento 2:
- Update Magento 2 version
- Switch to PHP 7
- Enable Varnish Cache
- Set Flat Categories and Products
- Advance Javascript and CSS
- Set up Content Delivery Network
- Turn Production Mode on
- Use a lightweight theme and optimized images
- Check the 3rd party extensions for bugs before installing them in the store.
For the detailed implementation of the above steps, check https://meetanshi.com/blog/speed-up-magento-2/