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UPDATE 1 - Slovenia's GDP grows by 5.0% in 2017 - table

Author Maja Garaca
UPDATE 1 - Slovenia's GDP grows by 5.0% in 2017 - table Source: Slovenian government

LJUBLJANA (Slovenia), February 28 (SeeNews) - Slovenia's gross domestic product (GDP) increased by 5.0% in 2017, according to preliminary estimates released by the country's statistical office on Wednesday.

According to the latest available data, Slovenia's GDP grew 2.5% in 2016.

At current prices, Slovenia's GDP totalled 43.3 billion euro ($52.9 billion) in 2017, up by a nominal 7.1% over 2016, the statistical office said in a statement.

As in 2016, external demand was the key driver of economic growth, as exports increased by 10.6%. Domestic demand had an increasingly significant role (up 4.0%), in the scope of which private consumption grew by 3.2%.

Construction had the largest contribution to GDP growth, having increased 11.4% on the year in 2017. Agriculture, forestry and fishing declined the most, by 9.2%.

According to seasonally adjusted data, Slovenia's GDP grew by 5.4% on the year in 2017.

In the fourth quarter alone, Slovenia's GDP expanded by 6.0% year-on-year, compared to a growth rate of 4.5% in the third quarter.

Seasonally-adjusted fourth quarter GDP increased by 2.0% over the previous quarter and by 6.2% over the same quarter of 2016.

GDP by expenditures, constant prices, growth rates (%):

  2017 Q4 Q3
Domestic expenditure 4.1 4.5 2.9
Final consumption expenditure 3.0 3.8 2.7
Gross capital formation 8.4 7.7 3.8
External trade balance 1.3 1.7 1.9
Exports of goods and services 10.6 12.3 11.9
Gross domestic product 5.0 6.0 4.5

($=0.818483 euro)