Gross Domestic Product, Slovenia, 1st quarter 2018

GDP up by 4.6% in the first quarter of 2018.

In the first quarter of 2018 gross domestic product (GDP) increased by 4.6% over the first quarter of 2017. Seasonally adjusted GDP increased by 0.6% over the previous quarter and by 5.0% over the first quarter of 2017.

  • 5/31/2018
  • |
  • no status

High growth of domestic expenditure

Domestic expenditure increased by 5.3% in the first quarter of 2018, which is the same increase as in the first quarter of 2017 and the highest growth after 2008. Among the main components of domestic expenditure (final consumption expenditure and gross capital formation) the increase in gross capital formation was more prominent. Gross capital formation increased by 14.7%. This time changes in inventories contributed significantly to GDP growth, namely 1.3 percentage points.

Gross fixed capital formation went up by 9.1%, which is similar to the growth rates thorough 2017. Construction investment grew by 12.6%, of which investment in non-residential buildings grew more (by 15.6%) than investment in residential buildings (by 4.5%). Gross fixed capital formation in machinery and equipment increased by 7.5%; similar growth was observed in gross fixed capital formation in transport equipment (by 7.3%) and in gross fixed capital formation in other machinery and equipment (by 7.7%).

The final consumption expenditure grew by 2.6%, of which household consumption expenditure increased by 3.4%, which is similar growth as in the previous quarter.

Imports grew faster than exports

In the first quarter of 2018 imports grew faster than exports. Imports increased by 8.7%, of which imports of goods increased by 9.2% and imports of services by 5.5%. Exports increased by 7.4%, of which exports of goods by 7.7% and exports of services by 6.2%.

Higher growth of imports than exports resulted in somewhat lower external trade balance; this time their contribution to GDP growth was negative (by 0.2 of a percentage point).

Total employment continues to grow

In the first quarter of 2018 total employment was 997,941 persons and increased by 3.0% (by 29,232 persons) over the first quarter of 2017. Most people were newly employed in manufacturing, construction, transport and trade.


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 in the SI-STAT Database.

Gross domestic product, constant prices, growth rates (%)
20172018
I-IIIIV-VIVII-IXX-XIII-III
Non-seasonally adjusted
  Changes on the same quarter of the previous year5.04.54.56.04.6
Seasonally adjusted
  Changes on the previous quarter1.61.31.11.90.6
  Changes on the same quarter of the previous year5.05.45.06.05.0
Source: SURS
Gross domestic product by expenditures, constant prices, growth rates (%)
20172018
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
Domestic expenditure5.33.62.94.55.3
Final consumption expenditure3.02.42.73.82.6
  Households3.72.93.03.33.4
  NPISH3.90.02.81.65.0
  General government0.91.11.75.60.6
Gross capital formation14.28.43.87.714.7
  Gross fixed capital formation13.19.07.411.99.1
  Changes in inventories and valuables1)0.40.0-0.6-0.81.3
External trade balance1)0.21.21.91.7-0.2
Exports of goods and services9.78.411.912.37.4
  Goods9.97.912.313.67.7
  Services9.210.610.07.06.2
Minus: imports of goods and services10.87.710.711.18.7
  Goods11.38.411.112.19.2
  Services8.24.28.45.55.5
Gross domestic product5.04.54.56.04.6
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Value added by activities and gross domestic product, constant prices, growth rates (%)
20172018
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
A Agriculture, forestry and fishing-7.8-8.5-8.5-11.7-3.9
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 6.66.48.210.36.4
of which: C Manufacturing6.86.48.311.07.2
F Construction13.011.45.616.212.0
GHI Trade, transportation and storage, accommodation and food service activities6.97.47.66.24.3
J Information and communication8.94.1-0.64.75.2
K Financial and insurance activities4.43.12.13.13.7
L Real estate activities0.70.70.31.50.2
MN Professional, scientific, technical, administrative and support services7.47.25.07.95.2
OPQ Public administration, education, human health and social work2.42.01.22.51.8
RST Other service activities0.90.01.3-1.02.1
Total value added5.35.04.76.34.4
Net taxes on products2.91.43.04.05.9
Gross domestic product5.04.54.56.04.6
Source: SURS
Detailed data and time series are available in the SI-STAT database.
Our website uses cookies for analysing the visits. By continuing to browse the site, you agree with our use of cookies.   Details