Gross domestic product, 2nd quarter 2024

GDP up by 0.7% at the annual level

In the 2^nd quarter of 2024, we observed a slowdown in economic activity. GDP grew by 0.7%, and 1.4% from January to June 2024 compared to the same period of 2023.

14 August 2024 at 10:30
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no status

Romana Korenič, Rok Gabrič
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Data inquiry

Domestic expenditure up

Compared to last year’s 2^nd quarter, domestic expenditure increased by 5.5%, of which final consumption expenditure went up by 4.2% and gross capital formation by 10.2%. Household final consumption expenditure was higher by 1.1%, while gross fixed capital formation decreased by 1.6%. As regards decline of the latter, a decrease in investment into buildings and structures had the largest impact (down by 4.0%).

Imports up, exports down

Imports increased by 4.4%; imports of goods went up by 4.9% while the increase in imports of services was less prominent (2.1%). Exports went down by 0.8%, of which exports of goods decreased by 0.5% and exports of services by 1.7%. The external trade balance contribution to GDP growth was negative at 4.1 percentage points.

Revision announcement

In September 2024 – as required by the revision policy – quarterly GDP data will be revised in the entire time series, i.e. from 1995 onwards.

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

Gross domestic product, constant prices, growth rates (%), Slovenia

	2023				2024
	Q1	Q2	Q3	Q4	Q1
Non-seasonally adjusted
annual growth	1.7	1.3	2.2	2.1	0.7
Seasonally adjusted
quarterly growth	1.1	-0.1	0.8	-0.1	0.2
annual growth	1.8	1.9	2.4	1.7	0.8

Gross domestic product by expenditures, constant prices, growth rates (%), Slovenia

	2023				2024
	Q2	Q3	Q4	Q1	Q2
	Changes on the same period of the previous year
Domestic expenditure	-2.7	-0.3	0.7	3.2	5.5
final consumption expenditure	1.2	0.9	2.2	3.4	4.2
households	0.4	0.3	1.2	1.9	1.1
NPISH	0.9	0.4	2.7	3.1	1.3
general government	3.2	2.4	4.8	7.0	12.3
gross capital formation	-13.9	-3.9	-4.2	2.7	10.2
gross fixed capital formation	11.2	9.9	9.1	1.4	-1.6
changes in inventories and valuables¹⁾	-5.8	-3.1	-2.9	0.3	2.4
External trade balance¹⁾	4.2	1.6	1.5	-1.1	-4.1
exports of goods and services	-0.4	-8.6	-2.3	-0.8	-0.8
goods	-0.5	-9.1	-2.5	0.1	-0.5
services	-0.3	-5.8	-1.1	-3.7	-1.7
minus: imports of goods and services	-5.0	-10.6	-4.0	0.5	4.4
goods	-6.0	-12.2	-4.0	0.6	4.9
services	0.6	-0.8	-3.7	1.2	2.1
Gross domestic product	1.7	1.3	2.2	2.1	0.7

1) As contribution to GDP volume growth (in percentage points).

Value added by activities and gross domestic product, constant prices, growth rates (%), Slovenia

	2023			2024
	Q2	Q3	Q4	Q1	Q2
	Changes on the same period of the previous year
A Agriculture, forestry and fishing	-1.5	-1.6	7.4	-0.7	-4.9
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management	2.4	0.6	0.5	1.8	0.6
of which: C Manufacturing	3.9	-0.5	-0.1	1.1	1.1
F Construction	21.0	18.4	17.3	1.6	-3.7
GHI Trade, transportation and storage, accommodation and food service activities	-1.0	-1.5	-1.4	0.2	0.1
J Information and communication	-1.5	2.1	6.0	5.6	4.4
K Financial and insurance activities	9.1	-3.6	-10.0	-4.5	4.5
L Real estate activities	0.7	1.8	1.7	2.0	2.7
MN Professional, scientific, technical, administrative and support services	1.1	1.0	-1.4	1.0	1.1
OPQ Public administration, education, human health and social work	1.7	1.7	1.0	1.4	1.4
RST Other service activities	3.8	0.9	4.8	3.4	2.2
Total value added	2.6	1.6	1.4	1.4	0.7
Net taxes on products	-4.7	-1.1	8.7	7.5	0.7
Gross domestic product	1.7	1.3	2.2	2.1	0.7

METHODOLOGICAL NOTE

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.

Additional explanations are available in the methodological explanations.

When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright .

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Methodological explanations

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