First estimate puts Slovenia’s GDP growth at 2.4% in 2019

According to the first estimate of the Statistics Office, Slovenia’s GDP expanded by 2.4 percent in 2019 after growing by 1.7 percent in the final quarter year-on-year. External demand contributed significantly to the last year’s growth, although export growth was less considerable than in the previous two years. Domestic spending was also more moderate.

Seasonally adjusted GDP was 0.4 percent higher than in the third quarter of last year and 1.7 percent higher than in the same period last year.

Exports increased by 4.4 percent last year, a year earlier by 6.1 percent. Domestic spending increased by 2.1 percent last year and 4.3 percent the year before, which was the largest growth since 2007.

Gross fixed capital formation also increased at a much lower rate than in 2018, resp. by 3.2 percent after increasing by 9.3 percent in 2018. Expenditure growth was also slightly lower last year, reaching 2.4 percent.

Total employment amounted to 1,045,000 persons last year, the most since data is available since 1995. Compared to 2018, it rose 2.4 percent.

GDP stood at 48,007b EUR million last year, up by 4.9 percent from 2018 in nominal terms.

In February, year-on-year inflation amounted to 2%

In February, consumer prices in Slovenia increased at the annual rate of two percent and at the monthly rate of 0.7 percent. The annual inflation was mostly influenced by the food price increase, and the monthly increase was influenced by the holiday package prices, the National Statistics Office announced.

The rise in food prices contributed 0.6 percentage points to February’s annual inflation, while food was 4.3% more expensive than last February. Meat went up the most, by 11.2 percent, followed by fruit with prices rising by 11.7 percent.

The annual inflation of 0.5 and 0.4 percentage points was also influenced by the price increase in the categories of housing, water, electricity, gas and other fuels, and various goods and services. In the meantime, there were no significant price decreases at the annual level.

Monthly inflation, as mentioned above, was mostly driven by holiday prices (0.4 of a percentage point), which went up by 10.5%. Monthly inflation was also a result of a 4.5 percent increase in the clothing prices and a 0.8 percent increase in the food prices.

On the other hand, petroleum products dropped in price on a monthly basis. Fuels and lubricants for passenger cars were down by 3.7 percent and liquid fuels down by 6.9 percent.

State budget with surplus of 11 million EUR in January

In January, the state budget recorded 904.5 million EUR in revenue and 893.6 million EUR in expenditure. The surplus reached 11 million EUR, compared to a deficit of 52.4 million EUR in January last year.


Source: STA,

Photo: Pixabay

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