Gross domestic product, 3rd quarter 2024

GDP up by 1.4% at the annual level

In the 3rd quarter of 2024, external demand increased and domestic decreased. GDP grew by 1.4%, and the same growth was observed from January to September 2024 compared to the same period of 2023.

14 november 2024 ob 10:30
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Romana Korenič, Rok Gabrič
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Domestic expenditure down

Compared to last year’s 3rd quarter, domestic expenditure decreased by 0.4%. Gross capital formation went down by 13.6% and had a negative impact on domestic expenditure. Gross fixed capital formation decreased by 8.2%. The largest decline was recorded in investment into buildings and structures (by 14.5%), but investment in machinery and equipment went down as well (by 2.6%).

Final consumption expenditure went up by 3.8%, with the highest growth observed in government expenditure (which increased by 9.1%). Household final consumption expenditure was higher by 1.9% and NPISH by a similar rate, namely by 1.8%.

Growth in exports and imports

Exports increased by 8.4%. Export growth was more prominent in goods (by 9.3%) than in services (by 4.9%). Imports increased as well (by 6.5 %), of which of goods by 6.6% and of services by 4.5%. The external trade balance contribution to GDP growth was positive at 1.9 percentage points.

Tables with the latest data are available in the SiStat Database.

Gross domestic product, constant prices, growth rates (%), Slovenia

	2023		2024
	Q3	Q4	Q1	Q2	Q3
Non-seasonally adjusted
annual growth	1.9	2.7	2.2	0.7	1.4
Seasonally adjusted
quarterly growth	0.0	0.8	-0.2	0.1	0.3
annual growth	2.5	2.8	1.9	0.7	1.0

Gross domestic product by expenditures, constant prices, growth rates (%), Slovenia

	2023		2024
	Q3	Q4	Q1	Q2	Q3
	Changes on the same quarter of the previous year
Domestic expenditure	0.6	3.2	3.3	5.2	-0.4
final consumption expenditure	-0.4	1.9	3.3	4.9	3.8
households	-1.1	0.8	2.0	2.0	1.9
NPISH	-1.6	0.2	1.4	-0.6	1.8
general government	1.5	5.1	6.5	12.6	9.1
gross capital formation	3.8	8.0	3.2	6.2	-13.6
gross fixed capital formation	2.6	3.2	1.0	-1.5	-8.2
changes in inventories and valuables¹⁾	0.3	1.1	0.5	1.7	-1.3
External trade balance¹⁾	1.3	-0.5	-1.0	-3.9	1.9
exports of goods and services	-9.0	-2.3	-0.6	-0.3	8.4
goods	-9.6	-3.1	0.3	0.0	9.3
services	-6.0	0.7	-3.8	-1.5	4.9
minus: imports of goods and services	-10.7	-1.8	0.6	4.7	6.5
goods	-12.1	-2.6	0.9	5.0	6.6
services	-2.2	3.0	0.3	3.7	4.5
Gross domestic product	1.9	2.7	2.2	0.7	1.4

1) As contribution to GDP volume growth (in percentage points).

Value added by activities and gross domestic product, constant prices, growth rates (%), Slovenia

	2023		2024
	Q3	Q4	Q1	Q2	Q3
	Changes on the same quarter of the previous year
A Agriculture, forestry and fishing	-5.1	2.5	3.1	-3.6	-1.7
BCDE Mining and quarrying, manufacturing, electricity and water supply, waste management	3.9	4.1	3.9	-0.9	2.9
of which: C Manufacturing	-0.5	0.9	1.4	1.6	5.0
F Construction	15.7	8.9	1.8	-3.5	-10.3
GHI Trade, transportation and storage, accommodation and food service activities	0.7	0.6	0.4	0.7	2.5
J Information and communication	5.3	7.5	6.6	7.2	1.5
K Financial and insurance activities	-4.6	-10.4	-3.5	5.7	5.0
L Real estate activities	0.1	2.7	3.0	3.1	2.7
MN Professional, scientific, technical, administrative and support services	1.2	1.2	2.2	0.9	0.0
OPQ Public administration, education, human health and social work	0.9	0.6	1.4	1.4	1.6
RST Other service activities	-5.0	-2.4	2.8	1.3	3.7
Total value added	2.4	2.1	2.3	0.7	1.2
Net taxes on products	-1.6	6.8	1.7	0.3	2.9
Gross domestic product	1.9	2.7	2.2	0.7	1.4

METODOLOŠKO OPOZORILO

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.

Additional explanations are available in the methodological explanations.

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