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Slovenia's GDP grows by 4.5% in 2018

Slovenia's GDP grows by 4.5% in 2018 Source: Slovenian government

LJUBLJANA (Slovenia), February 28 (SeeNews) – Slovenia's gross domestic product (GDP) increased by 4.5% in 2018, according to preliminary estimates released by the country's statistical office on Thursday.

In 2017, Slovenia's GDP grew by 5.0%.

At current prices, Slovenia's GDP amounted to 45.9 billion euro ($52.2 billion) in 2018, up by a nominal 6.9% over 2017, the statistical office said in a statement.

External demand had a positive impact on economic growth, as exports increased by 7.2%. Domestic demand had an increasingly significant role (up 4.6%), which is the highest growth after 2014.

Similarly to 2017, gross fixed capital formation and final consumption expenditure had a positive impact on economic growth. Gross fixed capital formation increased by 10.6% (in 2017 10.7%), final consumption expenditure increased by 2.3% (in 2017 1.5%).

In the fourth quarter alone, Slovenia's GDP expanded by 4.1% year-on-year, compared to a growth rate of 4.8% in the third quarter.

Seasonally-adjusted fourth quarter GDP increased by 0.8% over the previous quarter and by 3.6% over the same quarter of 2017.

($ = 0.8786 euro)