Gross Domestic Product, Slovenia, 1st quarter 2021

GDP in the first quarter of 2021 at the annual level up by 1.6%

In the first quarter of 2021, gross domestic product (GDP) increased by 1.6% over the first quarter of 2020. Seasonally adjusted GDP increased by 2.3% compared to the first quarter of 2020 and by 1.4% compared to the fourth quarter of 2020. 

  • 31 May 2021 at 10:30
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In the first quarter of 2021, gross fixed capital formation, exports and household consumption expenditure contributed positively to GDP growth, the contribution of gross fixed capital formation was more prominent than others copmponents of GDP.

Gross fixed capital formation increased by 7.6%, mainly due to the increase in gross fixed capital formation in machinery and equipment (by 20.0%).  Gross fixed capital formation in transport equipment increased by 31.7% and gross fixed capital formation in other machinery and equipment by 16.8%. Construction investment declined in the first quarter of 2021 by 3.9%.

Higher exports and imports
 

Exports and imports increased; exports by 0.8% and imports by 0.5%. Exports and imports of goods increased (by 4.2% and 2.7%, respectively), while exports and imports of services decreased (by 14.1% and 12.2% respectively). On both sides, travelling had a large impact. 
 
Household final consumption expenditure slightly higher than in the beginning of 2020

Household final consumption expenditure inccreased by 0.4%, wkile household final consumption expenditureon the domestic market decreased by 3.0%. The decrease was mainly influenced by expenditure for services, which was quite lower than in the first quarter of 2020. In other groups of household expenditure increase was observed, the largest in the group of durable goods, where car purchases represent a large share.  

Employment down by 1% 

Total employment in the first quarter of 2021 was 1,035,000 persons. Compared to the same quarter of 2021, it decreased by 1.0% or 10,000 persons. Employment decreased the most in accommodation and food service activities, administrative and support services, and manufacturing. In some branches employment increased, the most in human health and social work activities.

More detailed data including time series are available in the SiStat Database.
Gross domestic product, constant prices, growth rates (%)
20202021
I-IIIIV-VIVII-IXX-XIII-III
Non-seasonally adjusted
  Changes on the same quarter of the previous year-2.3-12.9-2.4-4.51.6
Seasonally adjusted
  Changes on the previous quarter-5.6-9.912.6-0.61.4
  Changes on the same quarter of the previous year-3.5-13.1-2.9-4.82.3
Source: SURS
Gross domestic product by expenditures, constant prices, growth rates (%)
20202021
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
Domestic expenditure-3.3-12.3-4.3-6.11.4
Final consumption expenditure-3.6-13.0-0.1-10.1-0.1
  Households-6.4-17.3-0.6-14.50.4
  NPISH-8.9-10.41.6-8.710.7
  General government4.1-1.11.32.8-1.7
Gross capital formation-2.4-10.1-17.48.26.4
  Gross fixed capital formation-3.5-13.8-0.82.07.6
  Changes in inventories and valuables1)0.20.8-3.71.2-0.1
External trade balance1)0.8-1.71.61.20.3
Exports of goods and services-0.8-23.4-9.5-0.40.8
  Goods-0.1-21.2-4.54.14.2
  Services-3.2-32.1-26.1-16.7-14.1
Minus: imports of goods and services-1.9-24.0-12.5-2.00.5
  Goods-1.3-23.2-10.50.12.7
  Services-4.8-28.1-22.5-13.1-12.2
Gross domestic product-2.3-12.9-2.4-4.51.6
1) As contribution to GDP volume growth (in percentage points).
Source: SURS
Value added by activities and gross domestic product, constant prices, growth rates (%)
20202021
I-IIIIV-VIVII-IXX-XIII-III
Changes on the same quarter of the previous year
A Agriculture, forestry and fishing-2.1-5.6-2.8-0.5-3.4
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management -0.9-15.8-3.10.82.8
of which: C Manufacturing0.1-16.0-2.71.33.6
F Construction1.6-8.91.33.81.8
GHI Trade, transportation and storage, accommodation and food service activities-3.9-20.8-6.9-13.4-2.1
J Information and communication2.8-6.92.50.24.9
K Financial and insurance activities-2.05.814.58.310.6
L Real estate activities1.60.40.80.41.5
MN Professional, scientific, technical, administrative and support services0.1-19.5-8.1-6.4-0.1
OPQ Public administration, education, human health and social work0.1-4.11.51.10.4
RST Other service activities-8.3-30.1-8.7-30.8-18.0
Total value added-1.1-12.7-2.4-3.30.8
Net taxes on products-10.9-14.2-2.0-12.27.8
Gross domestic product-2.3-12.9-2.4-4.51.6
Source: SURS
METHODOLOGICAL NOTE

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.

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