Gross Domestic Product, Slovenia, 2nd quarter 2018

GDP in the second quarter of 2018 up by 3.8% over the second quarter of 2017

In the second quarter of 2018 gross domestic product (GDP) increased by 3.8% over the second quarter of 2017. In the first half of 2018 it increased by 4.2% over the first half of 2017. Seasonally adjusted GDP increased by 0.8% over the previous quarter and by 4.3% over the second quarter of 2017.

  • 8/31/2018
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In the second quarter domestic consumption slowdown

Domestic consumption in the second quarter of 2018 increased by 2.3% over the second quarter of 2017. Final consumption expenditure increased by 2.2% and gross fixed capital formation by 2.9%. The lower growth of gross fixed capital formation was to a large extent the result of changes in stocks, which had a negative impact on GDP growth.

The most important components of final consumption expenditure are household final consumption expenditure and gross fixed capital formation. Household final consumption expenditure increased by 1.1%, mostly due to slower growth in households’ daily spending.  

 Gross fixed capital formation increased by 8.2%. Positive impact on gross fixed capital formation growth came from both components: construction investment (up by 11.8%) and gross fixed capital formation in other machinery and equipment (up by 5.2%). Among construction investment the investment in non-residential buildings was more prominent; this trend has been observed since the beginning of 2017. Among gross fixed capital formation in machinery and equipment a more prominent increase was observed in gross fixed capital formation in transport equipment (by 11.3%), while gross fixed capital formation in other machinery and equipment increased by 2.6%.

 High growth of exports and imports

In the second quarter of 2018, too, external demand had a positive impact on the economic growth. Exports increased by 9.3%; exports of goods went up by 9.1% and exports of services by 10.5%. Imports increased by 8.3%; imports of goods went up by 8.6% and imports of services by 6.1%. The external trade surplus contributed 1.7 percentage points to the economic growth.

Total employment up by 3%

In the second quarter of 2018 total employment was 1,013,618 persons and increased by 3% over the second quarter of the previous year. Most people were employed in manufacturing, followed by construction, trade, and professional, scientific and technical activities.

Notes

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.

More detailed data

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

Gross domestic product, constant prices, growth rates (%)
20172018
IV-VIVII-IXX-XIII-IIIIV-VI
Non-seasonally adjusted
  Changes on the same quarter of the previous year4.24.26.34.53.8
Seasonally adjusted
  Changes on the previous quarter1.41.02.00.50.8
  Changes on the same quarter of the previous year5.24.86.24.94.3
Source: SURS
Gross domestic product by expenditures, constant prices, growth rates (%)
20172018
IV-VIVII-IXX-XIII-IIIIV-VI
Sprememba glede na isto četrtletje prejšnjega leta
Domestic expenditure3.72.55.05.52.3
Final consumption expenditure0.71.12.62.82.2
  Households1.01.63.23.31.1
  NPISH-2.11.2-2.45.61.1
  General government0.1-0.21.31.25.3
Gross capital formation14.87.715.314.62.9
  Gross fixed capital formation10.07.412.010.18.2
  Changes in inventories and valuables1)1.10.20.61.1-0.9
External trade balance1)0.92.01.5-0.41.7
Exports of goods and services8.312.112.78.79.3
  Goods7.712.413.89.09.1
  Services10.910.78.37.510.5
Minus: imports of goods and services8.110.911.810.58.3
  Goods8.711.512.810.68.6
  Services5.17.76.49.56.1
Gross domestic product4.24.26.34.53.8
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Value added by activities and gross domestic product, constant prices, growth rates (%)
20172018
IV-VIVII-IXX-XIII-IIIIV-VI
Sprememba glede na isto četrtletje prejšnjega leta
A Agriculture, forestry and fishing-4.2-4.1-8.0-4.62.4
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 6.38.19.85.95.1
of which: C Manufacturing6.98.710.96.75.6
F Construction8.42.313.011.810.6
GHI Trade, transportation and storage, accommodation and food service activities7.66.05.23.84.7
J Information and communication8.03.99.85.23.3
K Financial and insurance activities-5.7-7.612.13.1-6.5
L Real estate activities1.01.01.40.10.7
MN Professional, scientific, technical, administrative and support services5.77.810.76.56.7
OPQ Public administration, education, human health and social work1.60.92.02.12.2
RST Other service activities1.73.21.22.01.4
Total value added4.74.46.74.34.0
Net taxes on products1.42.93.75.92.4
Gross domestic product4.24.26.34.53.8
Source: SURS
Detailed data and time series are available in the SI-STAT database.
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