August 31 (SeeNews) - Slovenia's gross domestic product (GDP) increased by a real 4.9% in 2017, according to the first annual estimate released by the country's statistical office on Friday.
According to the latest available data, Slovenia's GDP grew 3.1% in 2016.
At current prices, gross domestic product stood at 43.0 billion euro ($50.2 billion) in 2017, 6.5% higher in nominal terms than in the previous year, the statistical office said in a statement.
In 2017, Slovenia saw higher final consumption, external demand and gross investments.
The balance of trade remained positive and amounted to 4.181 billion euro in 2017 (9.7% of GDP) and contributed 1.3 percentage points to GDP growth.
Both the volume of exports and imports of goods and services were higher in 2017 than in the previous year; exports of goods and services increased by 10.7% (compared to 6.4% in 2016), while imports of goods and services increased by 10.3% (compared to 6.6%).
Economic growth was positively influenced by final consumption, which increased by 1.5%, less than the 3.6% growth from a year earlier. Private final consumption increased by 1.9%, while government consumption expanded by 0.5%, slowing from a growth of 2.7% in 2016.
Gross investments added 13.2% in real terms, of which gross fixed capital formation increased by 10.7%.
GDP by expenditures growth rates (%):
|
2017 |
2016 |
Final consumption expenditure |
1.5 |
3.6 |
Gross capital formation |
13.2 |
0.0 |
External trade balance |
1.3 |
0.5 |
Exports of goods and services |
10.7 |
6.4 |
GDP |
4.9 |
3.1 |
($=0.8569 euro)