Gross domestic product, Slovenia, 2nd quarter 2016

GDP increased by 2.7% in the second quarter of 2016

In the second quarter of 2016 gross domestic product (GDP) increased by 2.7% over the second quarter of 2015. In the first half of 2016 it increased by 2.5% over the first half of 2015.

  • 8/31/2016
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In the second quarter 2.7% GDP growth

In the second quarter of 2016 GDP increased by 2.7% over the second quarter of 2015. In the first half of 2016 it increased by 2.5% over the first half of 2015.

Seasonally adjusted GDP increased by 0.5% over the previous quarter and by 1.9% over the second quarter of 2015.

Exports and imports continue to grow

In the second quarter, too, external demand had a positive impact on the economic growth. Exports increased by 7.5%; exports of goods went up by 8.8% and exports of services by 2.2%. Imports increased by 7.2%; imports of goods went up by 9%, while imports of services declined by 3.6%. The external trade surplus contributed 0.9 of a percentage point to the economic growth.

Private consumption is strengthening

Private consumption increased by 2%. Final consumption expenditure increased by 2.5% and gross capital formation by 0.6%. Gross fixed capital formation decreased by 3.6%. Similarly to the previous quarter, lower construction investment (by 18%) had a negative impact on the growth of gross fixed capital formation. Investment in machinery and equipment increased by 13.2% and thus mitigated the fall of gross fixed capital formation.

Total employment up by 2%

In the second quarter of 2016 total employment was up by 2%, the most in the two-year period. Continued employment growth has been recorded since the second quarter of 2014, but in that period the growth rates were lower. In 2014 they varied from 0.4% to 0.9%, and in 2015 from 1.1% to 1.2%.

Manufacturing contributed the most to the economic growth

In the second quarter of 2016 manufacturing contributed 1.7 percentage points to the economic growth. Trade, accommodation and food service activities, and real estate activities together contributed 0.9 of a percentage point. Negative contribution to the economic growth came from construction, and financial and insurance activities. The total value added of the economy increased by 2.9%.

Notes

Unless otherwise specified, all comparisons in this text refer to original data, to volume or real changes and to changes compared with the same quarter of the previous year.

More detailed data

More detailed data including time series are available on the SI-STAT data portal.

Table 1: Gross domestic product, constant prices, growth rates (%)
20152016
IV-VIVII-IXX-XIII-IIIIV-VI
Non-seasonally adjusted
  Changes on the same quarter of the previous year2.02.02.82.32.7
Seasonally adjusted
  Changes on the previous quarter0.60.30.60.50.5
  Changes on the same quarter of the previous year2.01.62.12.11.9
Source: SURS
Table 2: Gross domestic product by expenditures, constant prices, growth rates (%)
20152016
IV-VIVII-IXX-XIII-IIIIV-VI
Changes on the same quarter of the previous year
Domestic expenditure0.51.72.91.32.0
  #Final consumption expenditure0.31.71.31.82.5
  Households-0.41.10.61.22.6
  NPISH6.12.71.53.52.1
  General government1.83.23.43.42.1
  #Gross capital formation1.52.010.0-0.70.6
  Gross fixed capital formation0.6-0.25.4-7.8-3.6
  Changes in inventories and valuables1)0.20.40.71.40.8
External trade balance1)1.60.40.11.20.9
  #Exports of goods and services6.55.04.35.97.5
  Goods6.24.53.75.68.8
  Services7.36.56.97.52.2
  #Minus: imports of goods and services4.85.14.74.97.2
  Goods5.34.55.55.29.0
  Services1.97.70.43.0-2.9
Gross domestic product2.02.02.82.32.7
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Table 3: Value added by activities and gross domestic product, constant prices, growth rates (%)
20152016
IV-VIVII-IXX-XIII-IIIIV-VI
Changes on the same quarter of the previous year
A Agriculture, forestry and fishing7.48.88.88.87.6
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 0.51.01.64.67.2
of which: C Manufacturing1.01.21.85.78.3
F Construction-3.2-3.71.6-18.2-12.8
GHI Trade, transportation and storage, accommodation and food service activities5.56.04.05.64.0
J Information and communication5.49.29.75.24.2
K Financial and insurance activities-2.1-5.31.2-9.8-10.4
L Real estate activities-2.8-0.91.54.85.1
MN Professional, scientific, technical, administrative and support services1.03.55.63.02.1
OPQ Public administration, education, human health and social work1.01.31.21.11.4
RST Other service activities4.31.53.32.12.1
Total value added1.62.22.92.32.9
Net taxes on products4.80.02.02.71.6
Gross domestic product2.02.02.82.32.7
Source: SURS
Detailed data and time series are available in the SI-STAT database.
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