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.
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 (%)
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 (%)
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.