Gross domestic product, 4th quarter 2021
GDP in the fourth quarter of 2021 up by 10.4%
After decline in 2020, the Slovenian economy recovered in 2021. GDP increased at the quarterly and annual level.
High economic growth in the last quarter of 2021 due to higher domestic demand
In the last quarter of 2021, domestic consumption increased by 13.9%; household consumption expenditure increased by 22.9% and contributed the most. Gross fixed capital formation also increased (by 11.0%), the most prominently investment in machinery and equipment (by 21.9%).
As in two previous quarters, in the last quarter of 2021 imports increased more than exports. Imports went up by 16.8% and exports by 12.1% over the last quarter of 2020. Due to higher growth of imports than exports and worse terms of trade, the contribution of external trade balance to GDP growth was negative (−2.3 percentage points).
Slovenian economy recovered in 2021; GDP up by 8.1%
After the 4.2% decline in 2020, Slovenian GDP in 2021 increased by 8.1% in real terms. Nominal growth of GDP was 10.9%. GDP in current prices amounted to EUR 52,020 million.
Domestic expenditure had positive impact on rather high economic growth in 2021. After the decrease in 2020 (by 4.6%) we observed a 10.8% increase in 2021. Among domestic expenditure, final consumption contributed to GDP growth more than gross capital formation.
External demand also increased; exports increased by 13.2% and imports by 17.4%. Due to higher growth of imports than exports and worse terms of trade in three quarters of 2021, the external trade balance was lower than in 2020; it amounted to EUR 2,764 million (in 2020 it was EUR 4,328 million).
Total employment in 2021 was 1,054,000 persons; in one year it increased by 1.4% or 14,600 persons. Employment increased the most in manufacturing, construction, human health and social work activities and in administrative and support services (in each of these activities by about 3,000 persons).
The next first release on quarterly GDP for the 1st quarter of 2022 will be published on 16 May 2022. More detailed data will be available in the SiStat Database on 18 May 2022.
More detailed data including time series are available in the SiStat Database.
Gross domestic product, constant prices, growth rates (%), Slovenia
Gross domestic product by expenditures, constant prices, growth rates (%), Slovenia
1) As contribution to GDP volume growth (in percentage points).
Value added by activities and gross domestic product, constant prices, growth rates (%), Slovenia
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.