Lake Bled in Slovenia

Slovenia GDP Q2 2020

Slovenia: Economy contracts at record pace in Q2 as the pandemic bites

GDP shrank 13.0% on an annual basis in the second quarter, down from the first quarter’s 2.5% decline and marking the sharpest contraction on record.

Household spending plunged 16.6% in Q2 (Q1: -5.8%), while fixed investment dropped 16.7% (Q1: -5.5%) in the same period. Both readings marked the steepest drop on record. Government consumption, meanwhile, was up 1.5% (Q1: +4.9% year-on-year).

Externally, exports of goods and services collapsed, falling 24.5% in Q2, down from Q1’s 1.9% fall. Imports dived 25.0%, significantly down from Q1’s 2.0% decline.

On a seasonally-adjusted quarter-on-quarter basis, economic activity dropped 9.6% in Q2, following a 4.8% drop in Q1.

The export-oriented economy is set to contract markedly this year as a whole, as the pandemic takes its toll. However, the economy should recover somewhat in H2 as exports and domestic consumption rebound. A recent resurgence of Covid-19 cases poses a downside risk.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest