Gross domestic product, Slovenia, 3rd quarter 2009

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GDP decreased also in the third quarter of 2009
In the third quarter of 2009, gross domestic product (GDP) decreased by 8.3 percent compared to the third quarter of 2008. This is the fourth GDP volume decrease in a row and is comparable to a decrease in the first quarter of 2009. In the period January-September 2009, GDP decreased by 8.6 percent compared to the same period of 2008.
Seasonally and working days adjusted GDP increased by 1.0 percent compared to the second quarter of 2009 and decreased by 8.5 percent compared to the third quarter of 2008.

Real decrease in all main expenditure categories
Similar to the first half of 2009, all main expenditure categories recorded negative growth. Again the decrease was the deepest in gross fixed capital formation which was 23.8 percent lower than in the third quarter of 2008. Gross fixed capital formation in transport equipment decreased by more than half, gross fixed capital formation in machinery and equipment by 24.5 percent and gross fixed capital formation in buildings by 20.2 percent compared to the third quarter of 2008.
Further decrease was recorded also for exports and imports even thought the decrease was lower than in the first two quarters of 2009. Exports of goods and services decreased by 16.3 percent and imports of goods and services by 19.6 percent. External trade balance contributed 2.7 percentage points to GDP volume growth.
Final consumption expenditure decreased by 0.5 percent which is slightly less than in the previous quarter. Final consumption expenditure of households decreased by 2.1 percent and final consumption expenditure of general government remains the only expenditure category recording positive growth (4.3 percent).

Value added decreased the most in construction
In the third quarter of 2009 compared to the third quarter of 2008, total value added decreased by 8.4 percent. The deepest was the decrease in construction (-19.2 percent). Value added in manufacturing decreased by 16.4 percent which is slightly less than in the previous two quarters. Value added decreased substantially also in trade (by 14.7 percent) and in business activities (by 6.2 percent). Value added growth remains positive in financial intermediation (1.5 percent), public administration (3.2 percent), education (2.5 percent), and health and social work (0.7 percent).

Further decrease in employment
For employment, further decrease was recorded in the third quarter of 2009. Total employment was by 3.4 percent or 33 600 person lower than in the third quarter of 2008. The decrease was the deepest in manufacturing (-11.3 percent). The employment decrease was recorded also in activities for which positive growth was recorded in previous quarters: in construction (by 4.6 percent), trade (by 0.9 percent), transport (3.0 percent) and in business activities (by 2.3 percent). Employment growth remains positive in activities characterized by non‑market producers, e.g. in public administration employment increased by 1.0 percent, in education by 2.5 percent, and in health and social work by 2.3 percent.
By sectors, employment decreased in non‑financial and financial corporations (by 5.0 percent) and in households together with non‑profit institutions serving households (by 2.4 percent), and increased in general government sector (by 1.4 percent).

Note
Unless otherwise indicated, all comparisons in this text relate to non-seasonally adjusted data and to volume changes compared to the third quarter of 2008.

More detailed data
More detailed data including time series will be published on 3 December 2009 at http://www.stat.si/eng/bdp.asp.
All time series are reconciled with the latest published annual national accounts data.