Slovenia GDP


Slovenia: Economic growth eases in Q4

February 27, 2015

GDP expanded 2.4% in Q4 over the same quarter of the previous year, which was below the 3.2% increase recorded in Q3. Q3’s expansion had marked the fastest pace of growth since Q2 2008.

Q4’s slowdown mainly reflects weak dynamics in domestic demand. Private consumption fell 0.8% over the same quarter of the previous year, which contrasted the 0.3% rise in Q3 and marked a one-year low. Government spending rose 1.2% in Q4, rebounding from Q3’s 0.4% fall. Gross fixed investment fell 0.9% in Q4, which contrasted Q3’s strong 8.1% rise; Q4 marked an almost-two-year low.

Exports of goods and services rose 8.4% in Q4, which marked an acceleration over the 6.8% increase recorded in Q3. Imports expanded 3.3% in Q4, which was below the 5.3% expansion in Q3. As a result, the external sector’s net contribution to overall economic growth rose from 1.8 percentage points in Q3 to 4.4 percentage points in Q4.

On a quarter-on-quarter, seasonally- and working-day adjusted basis, GDP recorded a 0.3% expansion in Q4, which was down from the 0.6% increase observed in Q3. For the full year 2014, GDP rose 2.6%. The result is notably above 2013’s 1.0% contraction and marks the first year of growth since 2011.

The Central Bank expects the economy to expand 1.3% in 2015. FocusEconomics Consensus Forecast panelists expect the economy to increase 2.0% in 2015, which is up 0.2 percentage points from last month’s estimate. In 2016, the panel sees GDP expanding 2.1%.

Author: Angela Bouzanis, Senior Economist

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Slovenia GDP Chart

Slovenia GDP Q4 2014

Note: Year-on-year changes of GDP in %.
Source: Statistical Office of the Republic of Slovenia (SORS) and FocusEconomics Consensus Forecast.

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