Gross Domestic Product, Slovenia, 2nd quarter 2020
GDP down by 13% in the second quarter of 2020.
In the second quarter of 2020 gross domestic product (GDP) decreased by 13.0% over the second quarter of 2019. In the first half of 2020 GDP decreased by 7.9% compared to first half of 2019. Seasonally adjusted GDP decreased by 9.6% compared to the first quarter of 2020.
In the majority of GDP components high decrease was observed. Domestic consumption and within it final household consumption expenditure had the greatest impact on GDP decline.
In the second quarter of 2020 domestic expenditure declined by 12.0% due to both components of domestic expenditure: final consumption expenditure and gross capital formation. The former declined by 11.8% and the latter by 12.8%.
Household final consumption expenditure and gross fixed capital formation are the most important components of final domestic expenditure. Household final consumption expenditure decreased by 16.6% and gross fixed capital formation by 16.7%. Decline in construction investment was less prominent than decline of investment in machinery and equipment; construction investment went down by 14.1% and investment in machinery and equipment by 26.2%.
Household final consumption expenditure on the domestic market dropped by 21.2%; the highest decrease was observed in consumption of fuels and services.
High decrease in external demand
In the second quarter of 2020 exports decreased by 24.5% over the second quarter of 2019; exports of goods decreased by 21.9% and exports of services by 35.0%. We observed a similar decrease in imports, which dropped by 25.0%. Imports of goods and imports of services decreased by a similar rate: imports of goods by 24.4%, imports of services by 28.2%. Among services, the largest decrease in both exports and imports was observed in travelling.
Employment in the second quarter down by 2.0%
Total employment in the second quarter of 2020 amounted to 1,023,200; compared to the second quarter of 2019 it decreased by 2.0% or 20,706 persons. Employment decreased the most in administrative and support services, in manufacturing, and in accommodation and food service activities.
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.
With this publication of quarterly GDP, data for the first quarter were also revised. The GDP estimate for 2019 based on annual data sources and the routine revision for 2016 - 2018, and consequently the adjustment of quarterly GDP, will be published at the end of September due to the delay in data sources (balance sheets, balance of payments data).
More detailed data
More detailed data are available in the SiStat Database.
Gross domestic product, constant prices, growth rates (%)
Gross domestic product by expenditures, constant prices, growth rates (%)
1) As contribution to GDP volume growth (in percentage points).
Value added by activities and gross domestic product, constant prices, growth rates (%)