I looked up the website for your SWR meter.
SW-102-UV Digital VHF/UHF Power & SWR Meter & Frequency counter V.S.W.R. meter IntroductionVSWR. Forward and reflected power direct digital readout, without any calibration.Maximum measurable power range up to 120W.low insertion loss (0.3 decibels or less) structure allows it to be permanently...
www.surecom.com.hk
If you look down near the bottom, it suggests there is a way to get into the menu of the device and adjust the calibration.
I'm NOT saying you should do that.
Only saying that even they give the option for the end user to do some sort of calibration. But you'd need to have the equipment to do that. I wouldn't mess with it. Just pointing out that it's an option.
So, could be the radio is out of whack.
Could be the meter is out of whack.
Could be that it's a combination of both.
If the radio works and you can communicate the way you want, then I might be tempted to call it good.