Gross domestic product, 4th quarter 2024
GDP up by 1.5% at the annual level
In the fourth quarter of 2024, gross domestic product (GDP) increased by 1.5% over the same period of 2023. In 2024, it went up by 1.6%.
Domestic expenditure up
Domestic expenditure increased by 0.1% in the last quarter of 2024, compared to the same quarter of 2023. Final consumption expenditure increased by 2.4%, while fixed capital formation declined by 7.6%. Gross fixed capital formation contributed the most to this decline. The decrease was observed for the third consecutive quarter, this time by 5.2%. Investments in all – machinery and equipment (by 7.1%), buildings and structures (by 4.9%) – went down.
Household consumption expenditure went up by 1.2%. Household expenditure for services increased the most, namely by 2.1%.
Increase in external trade
As in the previous quarter, in the last quarter of 2024 an increase in external trade was observed. Exports increased by 3.9% and imports by 2.3% over the same period of 2023. External trade balance contributed 1.3 percentage points to GDP volume growth.
In 2024, GDP up by 1.6%
According to the first GDP estimate, GDP increased by 1.6% in 2024. Final consumption expenditure (household and government spending) contributed positively to GDP growth. On the other hand, gross fixed capital formation and external trade had a negative impact on GDP growth. Imports increased by 3.9% and exports by 3.2%. The difference in growth created negative contribution to GDP growth by 0.4 of a percentage point.
Tables with the latest data are available in the SiStat Database.
Domestic expenditure increased by 0.1% in the last quarter of 2024, compared to the same quarter of 2023. Final consumption expenditure increased by 2.4%, while fixed capital formation declined by 7.6%. Gross fixed capital formation contributed the most to this decline. The decrease was observed for the third consecutive quarter, this time by 5.2%. Investments in all – machinery and equipment (by 7.1%), buildings and structures (by 4.9%) – went down.
Household consumption expenditure went up by 1.2%. Household expenditure for services increased the most, namely by 2.1%.
Increase in external trade
As in the previous quarter, in the last quarter of 2024 an increase in external trade was observed. Exports increased by 3.9% and imports by 2.3% over the same period of 2023. External trade balance contributed 1.3 percentage points to GDP volume growth.
In 2024, GDP up by 1.6%
According to the first GDP estimate, GDP increased by 1.6% in 2024. Final consumption expenditure (household and government spending) contributed positively to GDP growth. On the other hand, gross fixed capital formation and external trade had a negative impact on GDP growth. Imports increased by 3.9% and exports by 3.2%. The difference in growth created negative contribution to GDP growth by 0.4 of a percentage point.
Tables with the latest data are available in the SiStat Database.
Gross domestic product, constant prices, growth rates (%), Slovenia
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Gross domestic product by expenditures, constant prices, growth rates (%), Slovenia
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Value added by activities and gross domestic product, constant prices, growth rates (%), Slovenia
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METHODOLOGICAL NOTE
nless 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.
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.
