LJUBLJANA (Slovenia), May 31 (SeeNews) – Slovenia's gross domestic product (GDP) growth slowed to 3.2% year-on-year in the first quarter from 4.1% in the preceding three-month period, the statistical office said on Friday, citing preliminary estimates.
On a seasonally adjusted basis, Slovenia's GDP expanded by 0.8% over the previous quarter and grew by 3.7% over the first quarter of 2018, the statistical office said in a statement.
Domestic expenditure rose by 1.8% year-on-year in the first quarter of 2019, the lowest rate of increase in the last three years.
Gross capital formation decreased by 1.3% compared to the first quarter of 2018, impacting domestic expenditure growth. Changes in inventories negatively contributed to GDP growth, namely 2.1 percentage points.
Gross fixed capital formation increased by 9.3%. Construction investment contributed the most, up 18.1%
Final consumption grew by 2.9%, of which household consumption increased by 2.6%, and government consumption rose 3.6%.
In the first quarter of 2019, exports grew faster than imports. Imports increased by 6.4% year-on-year, whereas exports added 7.6%.
In the first quarter of 2019, total employment increased to 1,026,547 persons, up 2.6% over the first quarter of 2018. Most people were newly employed in manufacturing, construction, transport and trade.
Details on GDP by type of expenditures in constant prices follow, y/y change in pct:
|
Q1'19 |
Q4'18 |
Q1'18 |
Domestic expenditure |
1.8 |
3.7 |
6.1 |
Final consumption expenditure |
2.9 |
2.0 |
3.2 |
- households |
2.6 |
2.1 |
3.9 |
- NPISH |
1.2 |
1.1 |
7.4 |
- general govt |
3.6 |
1.5 |
1.2 |
Gross capital formation |
-1.3 |
10.0 |
16.1 |
- gross fixed capital formation |
9.3 |
8.2 |
10.1 |
External trade balance |
1.6 |
0.7 |
-0.7 |
Exports of goods and services |
7.6 |
6.8 |
8.0 |
Imports of goods and services |
6.4 |
6.6 |
10.2 |
GDP |
3.2 |
4.1 |
4.8 |