Gross Domestic Product, Slovenia, 3rd quarter 2019

GDP up by 2.3% in the third quarter of 2019

In the third quarter of 2019 gross domestic product (GDP) increased by 2.3% over the third quarter of 2018. In the first 9 months of 2019 it increased by 2.7% over the same period of 2018.

  • 11/29/2019
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Higher growth of domestic expenditure

Domestic expenditure increased by 3.8% in the third quarter of 2019. Both components – final consumption expenditure and gross capital formation – had a positive impact on high domestic expenditure. Final consumption expenditure increased by 3.7%. Among final consumption expenditure the increase in household final consumption was more prominent; it went up by 4.3%.

Gross capital formation increased by 4.4%, of which changes in inventories had a positive contribution. Gross fixed capital formation increased by 1.2%, which is moderate growth compared to previous quarters. A negative contribution was observed among investment in non-residential construction, which decreased by 3.3%. Gross capital formation in transport equipment also decreased (by 6.9%). On the other hand, gross fixed capital formation in other machinery and equipment grew by 4.3% and investment in residential buildings by 9.7%.  

Higher growth of imports than exports

Exports increased by 4.5% compared to the same quarter of 2018, which is similar growth as in the previous two quarters of 2019 (4.9% and 5.0%). Imports increased more (by 6.7%), which is also higher growth than in the previous two quarters of 2019 (3.9% and 4.9%).

Total employment up by 2.3%

In the third quarter of 2019 total employment was 1,051.328 persons and increased by 2.3% (by 23,420 persons) over the third quarter of 2018. Most people were newly employed in manufacturing, construction, trade, transport, and professional, scientific and technical activities.

Revision of annual and quarterly GDP

Due to different accounting of major transaction of imports and exports, the data on GDP will be revised. The data on annual GDP will be revised for 2017 and 2018, but the data on quarterly GDP will be revised for 2016–2018. The revised data will be published on 28 February 2020.

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 SiStat Database.

Gross domestic product, constant prices, growth rates (%)
20182019
VII-IXX-XIII-IIIIV-VIVII-IX
Non-seasonally adjusted
  Changes on the same quarter of the previous year4.63.83.32.52.3
Seasonally adjusted
  Changes on the previous quarter1.10.60.60.00.8
  Changes on the same quarter of the previous year4.73.23.52.32.0
Source: SURS
Gross domestic product by expenditures, constant prices, growth rates (%)
20182019
VII-IXX-XIII-IIIIV-VIVII-IX
Sprememba glede na isto četrtletje prejšnjega leta
Domestic expenditure5.25.02.32.13.8
Final consumption expenditure2.54.02.83.03.7
  Households2.24.12.43.84.3
  NPISH4.92.91.20.12.8
  General government3.24.03.91.01.8
Gross capital formation14.58.60.7-0.74.4
  Gross fixed capital formation11.97.110.06.91.2
  Changes in inventories and valuables1)0.70.3-1.7-1.50.7
External trade balance1)0.0-0.81.20.5-1.2
Exports of goods and services4.26.54.95.04.5
  Goods3.95.64.44.55.0
  Services5.510.07.36.83.0
Minus: imports of goods and services4.88.23.94.96.7
  Goods5.69.53.55.17.2
  Services1.31.26.93.74.2
Gross domestic product4.63.83.32.52.3
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Value added by activities and gross domestic product, constant prices, growth rates (%)
20182019
VII-IXX-XIII-IIIIV-VIVII-IX
Sprememba glede na isto četrtletje prejšnjega leta
A Agriculture, forestry and fishing12.714.04.6-4.2-4.6
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management 3.02.62.53.43.5
of which: C Manufacturing2.92.43.44.34.5
F Construction13.86.214.97.5-2.3
GHI Trade, transportation and storage, accommodation and food service activities6.47.05.13.63.2
J Information and communication6.43.02.62.50.8
K Financial and insurance activities-0.4-1.21.25.15.1
L Real estate activities1.6-0.20.20.51.6
MN Professional, scientific, technical, administrative and support services6.06.42.80.73.2
OPQ Public administration, education, human health and social work1.41.61.71.51.8
RST Other service activities1.12.21.41.53.7
Total value added4.53.93.42.62.4
Net taxes on products5.93.52.51.11.9
Gross domestic product4.63.83.32.52.3
Source: SURS
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