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:
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Update Magento 2 version
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Switch to PHP 7
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Enable Varnish Cache
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Set Flat Categories and Products
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Advance Javascript and CSS
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Set up Content Delivery Network
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Turn Production Mode on
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Use a lightweight theme and optimized images
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Check the 3rd party extensions for bugs before installing them in the store.
For the detailed implementation of the above steps, check How Do I Speed Up Magento 2