Lake Bled in Slovenia

GDP Per Capita in Slovenia

Slovenia GDP Per Capita

GDP growth gains steam in the first quarter

GDP growth accelerated to 0.7% year on year in the first quarter, from 0.2% in the fourth quarter of last year. A rebound in exports and stronger investment activity drove the reading.

Household spending growth moderated to 2.1% yoy in Q1 from a 2.6% expansion in Q4. Government spending contracted 1.9% in Q1 (Q4 2022: -1.0% yoy). Fixed investment growth improved to 6.5% in Q1, from a 5.9% expansion in the prior quarter.

On the external front, exports of goods and services increased 1.9% on an annual basis in the first quarter, which contrasted with the fourth quarter’s 2.5% contraction. Conversely, imports of goods and services dropped at a sharper pace of 3.8% in Q1 (Q4 2022: -1.5% yoy).

On a seasonally adjusted quarter-on-quarter basis, economic growth eased 0.6% in Q1 from the previous quarter’s 0.7% expansion.

Economic momentum is set to inch down in Q2 this year as still-elevated inflation, higher interest rates and the downturn in the German economy continue to weigh on activity. Tighter-than-expected monetary policy from the ECB is a downside risk.

On the outlook, EIU analysts commented:

“Some support will come from inflows of EU funds and easing global supply-chain frictions, but shortages of intermediate goods (such as semiconductor chips) will continue to restrict industrial activity in Germany and Italy, Slovenia’s main export markets. Domestic gas-intensive industries—especially chemicals, paper and basic metals—struggled with last year’s surge in energy prices.”

Slovenia GDP Per Capita Chart

This chart displays GDP per capita (EUR) for Slovenia from 2013 to 2022.

Slovenia GDP Per Capita Data

2018 2019 2020 2021 2022
GDP per capita (EUR) 22,195 23,346 22,445 24,788 27,071
GDP per capita (USD) 26,187 26,131 25,587 29,303 28,454

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