GDP in Slovenia
Slovenia - GDP
Economy contracts on Q1 on Covid-19 fallout
GDP shrank 2.3% on an annual basis in the first quarter, contrasting Q4 2019’s 1.7% expansion and marking the sharpest contraction since Q1 2013.
Household spending plunged 6.4% in Q1, marking the fastest drop in seven years (Q4 2019: +1.2% year-on-year). Public spending rose 5.8% in Q1 (Q4 2019: -2.0% yoy). On the other hand, fixed investment fell 6.3% in Q1, down from the 4.5% drop logged in the previous quarter.
Exports of goods and services fell 1.6% in the first quarter, contrasting Q4 2019’s 0.9% expansion. Meanwhile, imports of goods and services declined 2.5% in Q1 (Q4 2019: -0.8% yoy). Taken together, the external sector contributed 0.5 percentage points to overall GDP in Q1, down from Q4 2019’s 1.3 percentage point contribution.
On a quarter-on-quarter, seasonally-adjusted basis, economic activity dropped 4.5% in Q1, contrasting Q4 2019's 0.4% increase.
The export-oriented economy is set to contract this year as Covid-19 takes its toll. Capital spending will likely decline amid deteriorating sentiment and heightened uncertainties in the all-important automotive sector. In addition, exports are likely to slump on muted European demand and falling tourist arrivals.
FocusEconomics Consensus Forecast panelists project GDP to fall 7.2% in 2020, which is up 0.2 percentage points from last month’s projection. For 2021, the panel sees economic growth of 4.9%.
Slovenia - GDP Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 3.0 | 2.2 | 3.1 | 4.8 | 4.1 |
Slovenia GDP Chart
Source: Statistical Office and FocusEconomics calculations.
Slovenia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.30 | -0.79 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Slovenia: Consumer prices decline year-on-year for second consecutive month in May
May 29, 2020
Consumer prices rose 0.9% over the previous month in May, after decreasing 0.9% in April.
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Slovenia: Economy contracts on Q1 on Covid-19 fallout
May 29, 2020
GDP shrank 2.3% on an annual basis in the first quarter, contrasting Q4 2019’s 1.7% expansion and marking the sharpest contraction since Q1 2013. Household spending plunged 6.4% in Q1, marking the fastest drop in seven years (Q4 2019: +1.2% year-on-year).
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Slovenia: Industrial production crashes at the fastest pace in over a decade in March
May 11, 2020
Industrial output plummeted 7.6% in year-on-year and working day adjusted terms in March, contrasting February's 2.4% increase.
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Slovenia: Year-on-year consumer prices decline for the first time in almost three years in April
April 30, 2020
Consumer prices fell 0.9% over the previous month in April, after decreasing 0.8% in March.
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Slovenia: Industrial production rebounds in February
April 10, 2020
Industrial output rose 2.4% in year-on-year and working day adjusted terms in February, which contrasted January's 0.9% decrease.
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