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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 (%):
|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|