The Growth of Slovenia’s GDP in the Third Quarter Makes 4.5%

The gross domestic product of Slovenia increased in the mid-term by 4.5% in the third quarter of 2017. According to the Statistics Service, this is 1% more than in the second quarter of 2017 and 4.9% more than in the third quarter of 2016.

Both internal consumption and external demand contributed to the increase in indicators. Export grew by 12% and import increased by 10.1%. The balance of foreign trade reached 11.6% of GDP, showing the highest result since 1995.

Real GDP growth in the third quarter of 2017 was slightly lower than in the second quarter, when according to the adjusted estimation it had reached 4.6%. In the third quarter, domestic consumption continued to grow (by 2.4%). Gross fixed capital formation in the third quarter of 2017 increased by 6%.

Comparing the components of GDP with the pre-crisis figures of 2008 shows that during this period, GDP grew by 3%, export grew by 33%, import increased by 11%, private consumption increased by 6%, while investment in fixed assets fell by 40%.

The number of working population in the third quarter was 991,667 persons. This is 2.7% or 26,077 employees more than in the third quarter of last year. The majority of candidates got a job in the manufacturing industry, in various other business areas and in the field of transport and trade.