Gross domestic product, other aggregates of national accounts and employment, 2022

First estimate of 2022 GDP based on annual data sources

We made the first estimate of the 2022 GDP based on annual data sources. With the routine revision, the data from 2019 on were revised. The next annual revision in one year will be more extensive, in line with the European policy of harmonised benchmark revisions of national accounts every five years.

Moderate economic growth and rising general price level

Slovenia’s gross domestic product for 2022 was estimated at EUR 57,038 million. This was a 9.1% nominal increase over the previous year, mostly due to rising product prices. In volume terms, the 2022 GDP grew by 2.5%. Output grew by 3.7% and intermediate consumption by 4.8%.

The largest contributors to GDP growth were professional, scientific and technical activities (0.6 of a percentage point) and accommodation and food service activities (also 0.6 p.p.), which in 2022 exceeded by 4% the pre-pandemic (2019) volume of value added. Contribution of construction to GDP growth was 0.4 of a percentage point, of information and communication activities also 0.4 p.p., of administrative and support service activities 0.3 p.p., and of transportation and storage 0.2 p.p.

The largest negative contribution to GDP growth was from manufacturing (−0.7 p.p.), followed by wholesale and retail trade (−0.6 p.p.), and electricity, gas, steam and air conditioning supply (−0.2 p.p.).

Moderate growth of final consumption expenditure, above average increase in inventories

The expenditure side of GDP in 2022 showed a moderate volume growth of final consumption expenditure of households (3.3%). Final consumption expenditure of general government decreased in volume terms by 0.5%, while final consumption expenditure of non-profit institutions serving households grew in volume terms by 21.1%. Inventories increased by EUR 1,515 million, thereby contributing 1.0 percentage point to GDP volume growth. Gross fixed capital formation increased in volume terms by 3.5%. In external trade, as in the previous year, imports of goods and services grew more (9.0%) than exports (7.2%). External trade balance was still positive at EUR 1,292 million, but it was the lowest in the last ten years. Terms of trade worsened for the second year in a row; implicit deflator showed 14.7% growth of export prices, whereas import prices grew by 18.3%.

Less subsidies in the income distribution

The share of compensation of employees in GDP was 52.0% in 2022 (0.7 of a percentage point lower than in the previous year). The share of taxes on production was 13.5% (0.1 p.p. lower). The share of subsidies decreased to 1.7%, after exceptional values during the pandemic (4.7% in 2020 and 3.1% in 2021), which at the time contributed to maintaining the shares of compensation of employees, the operating surplus and mixed income of the self-employed. The share of consumption of fixed capital in GDP was 19.7% (0.7 p.p. higher than in the previous year). The share of net operating surplus and mixed income was 16.5% (1.3 p.p. lower than in the previous year).

Highest employment

The number of employees increased by 2.6% and the number of self-employed persons by 4.2%. Total employment increased by 2.9% and was estimated at the annual average of 1,082 thousand persons. This was the highest employment in the entire time series of Slovenian national accounts. Employees represented 80.6% and the self-employed 19.4% of total employment.


Tables with the latest data are available in the SiStat Database.