Gross Domestic Product, Slovenia, 3rd quarter 2018

GDP in the second quarter of 2018 up by 4.8% over the third quarter of 2017

In the third quarter of 2018 GDP increased by 4.8% over the third quarter of 2017. In the first three quarters of 2018 it increased by 4.5% over the first three quarters of 2017. Seasonally adjusted GDP increased by 1.3% over the previous quarter and by 5.0% over the third quarter of 2017.

  • 11/30/2018
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Domestic consumption growth the same as in the previous quarter 

Domestic consumption in the third quarter of 2018 increased by 3.5% over the third quarter of 2017. Final consumption expenditure increased by 0.7% and gross capital formation by 13.4%. The high growth of gross capital formation was the result of the high growth of gross fixed capital formation as well as changes in stocks, which contributed 0.5 of a percentage point to GDP growth.

The most important components of domestic consumption expenditure are household final consumption expenditure and gross fixed capital formation. Household final consumption expenditure remained at the same level as in the third quarter of 2017.

Gross fixed capital formation increased by 12.0%. Positive impact on gross fixed capital formation growth came from both components: construction investment (up by 19.6%) and gross fixed capital formation in other machinery and equipment (up by 6.7%). 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 10.2%), while gross fixed capital formation in other machinery and equipment increased by 5.4%.

Lower growth of exports and imports

Compared to exports and imports in the last two years, in the third quarter of 2018 lower growth was observed. Exports increased by 5.7%; exports of goods went up by 4.3% and exports of services by 11.0%. Imports increased by 4.3%; imports of goods went up by 5.0% and imports of services by 0.9%. Nevertheless, external demand had a positive impact on the economic growth. The external trade surplus contributed 1.7 percentage points to the economic growth.

Total employment up by 2.8%

In the second quarter of 2018 total employment was 1,022,053 persons and increased by 2.8% over the third 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
VII-IXX-XIII-IIIIV-VIVII-IX
Non-seasonally adjusted
  Changes on the same quarter of the previous year4.26.34.74.04.8
Seasonally adjusted
  Changes on the previous quarter1.02.00.60.91.3
  Changes on the same quarter of the previous year4.86.35.14.65.0
Source: SURS
Gross domestic product by expenditures, constant prices, growth rates (%)
20172018
VII-IXX-XIII-IIIIV-VIVII-IX
Changes on the same quarter of the previous year
Domestic expenditure2.55.06.13.53.5
Final consumption expenditure1.12.63.12.40.7
  Households1.63.23.71.50.0
  NPISH1.2-2.45.62.45.0
  General government-0.21.31.24.92.5
Gross capital formation7.715.316.47.213.4
  Gross fixed capital formation7.412.010.710.712.0
  Changes in inventories and valuables1)0.20.51.4-0.50.5
External trade balance1)2.01.5-0.80.81.7
Exports of goods and services12.112.78.49.15.7
  Goods12.413.88.68.74.3
  Services10.78.37.510.611.0
Minus: imports of goods and services10.911.810.69.24.3
  Goods11.512.810.89.15.0
  Services7.76.49.59.90.9
Gross domestic product4.26.34.74.04.8
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
VII-IXX-XIII-IIIIV-VIVII-IX
Changes on the same quarter of the previous year
A Agriculture, forestry and fishing-4.1-8.07.113.413.9
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 8.19.85.95.23.1
of which: C Manufacturing8.710.96.75.73.7
F Construction2.313.011.811.117.9
GHI Trade, transportation and storage, accommodation and food service activities6.05.23.84.14.4
J Information and communication3.99.85.23.57.3
K Financial and insurance activities-7.612.13.2-6.59.4
L Real estate activities1.01.40.10.71.6
MN Professional, scientific, technical, administrative and support services7.810.76.57.15.1
OPQ Public administration, education, human health and social work0.92.02.12.31.8
RST Other service activities3.21.21.41.41.4
Total value added4.46.74.64.24.7
Net taxes on products2.93.75.92.45.9
Gross domestic product4.26.34.74.04.8
Source: SURS
Detailed data and time series are available in the SI-STAT database.