Gross domestic product, Slovenia, 1st quarter 2016

In the first quarter of 2016 GDP up by 2.5%

In the first quarter of 2016 Slovenia’s gross domestic product was 2.5% higher than in the first quarter of 2015.

  • 31 May 2016 at 10:30
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Seasonally adjusted GDP increased by 0.5% over the previous quarter and by 2.3% over the first quarter of 2015.

Exports continue to grow, the growth of imports is slowing down

In the first quarter of 2016, too, exports had a positive impact on the economic activity. They grew by 5.3%; exports of goods went up by 4.9% and exports of services by 7.4%. Imports increased at a lower rate than exports (by 3.9%). Consequently, the contribution of external trade balance to GDP growth increased; it amounted to 1.9 percentage points. 

Domestic expenditure slightly up 

Domestic expenditure increased by 0.6%. Final domestic expenditure increased by 1.2%, while gross capital formation decreased by 1.5%.

Final consumption expenditure of households increased by 0.6%, mostly due to consumption of durable goods, which increased by 9.7%. The highest growth in consumption of durable goods was recorded in the group of vehicles, by almost 15%.

Government expenditure also increased; it went up by 2.7%. For the execution of collective services the government spent 3.5% more and for individual services 2.2% more.

Gross fixed capital formation decreased by 8.2%, which was the result of lower investment in buildings and structures (by 27.2%), but the fall was mitigated by investment in machinery and equipment (9.3% increase). The most prominent increase in machinery and equipment was recorded in investment in metal construction (by 25.4%) and in investment in transport equipment (by 20.4%).

Changes in inventories contributed 1.3% to economic growth and thus reduced the fall of gross capital formation in total.    

The value added of the whole economy up by 2.5%

The biggest contribution to growth came from manufacturing (by 6.8%), followed by wholesale and retail trade (by 5.1%), accommodation and food services activities (by 8.1%) and real estate activities (6.5%).

On the other hand, we registered outstanding decrease in value added in construction (by 18.3%). Similar drops were registered in the past; in 2010 and in the first quarter of 2013.

 

Notes

Unless otherwise specified, all comparisons in this text refer to non-seasonally adjusted data, to volume or real changes and to changes compared with the same quarter of the previous year.

More detailed data

More detailed data including time series are available in the SI-STAT database.

Table 1: Gross domestic product, constant prices, growth rates (%)
20152016
I-IIIIV-VIVII-IXX-XIII-III
Non-seasonally adjusted
  Changes on the same quarter of the previous year2.82.72.63.32.5
Seasonally adjusted
  Changes on the previous quarter0.70.80.40.60.5
  Changes on the same quarter of the previous year3.02.62.22.62.3
Source: SURS
Table 2: Gross domestic product by expenditures, constant prices, growth rates (%)
20152016
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
Domestic expenditure2.40.91.43.70.6
Final consumption expenditure0.20.92.02.71.2
  Households0.61.12.52.60.6
  NPISH3.15.11.52.13.0
  General government-1.20.20.83.02.7
Gross capital formation10.90.8-0.68.1-1.5
  Gross fixed capital formation1.5-0.6-2.03.4-8.2
  Changes in inventories and valuables1)1.80.30.30.81.3
External trade balance1)0.61.91.4-0.11.9
Exports of goods and services6.26.25.03.35.3
  Goods6.86.24.82.94.9
  Services4.06.55.95.17.4
Minus: imports of goods and services6.14.13.73.93.2
  Goods7.54.62.94.63.4
  Services-2.31.27.7-0.42.5
Gross domestic product2.82.72.63.32.5
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Table 3: Value added by activities and gross domestic product, constant prices, growth rates (%)
20152016
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
A Agriculture, forestry and fishing3.48.010.711.38.9
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 5.94.55.34.65.5
of which: C Manufacturing7.15.25.85.26.8
F Construction-0.8-5.3-6.0-0.4-18.3
GHI Trade, transportation and storage, accommodation and food service activities4.04.24.54.34.9
J Information and communication1.91.24.75.94.6
K Financial and insurance activities-7.31.8-0.85.2-6.0
L Real estate activities1.90.11.71.26.5
MN Professional, scientific, technical, administrative and support services3.11.62.94.71.4
OPQ Public administration, education, human health and social work0.20.00.20.71.3
RST Other service activities7.23.81.94.41.2
Total value added2.72.42.93.52.5
Net taxes on products3.74.81.22.02.5
Gross domestic product2.82.72.63.32.5
Source: SURS
Table 4: Implicit deflators, terms of trade, indices
20152016
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
Gross domestic product100.5100.2100.1101.0101.1
Domestic expenditure99.699.999.299.5100.2
Terms of trade101.2100.4101.2102.1101.6
Source: SURS
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.