The Slovenia Times

IMAD says competitiveness also element in growth of exports


The government macroeconomic think-tank says that "this is reflected in a continued growth of market shares of goods on foreign markets", adding that production is on the increase in manufacturing, especially in export-oriented industries.

The favourable economic conditions have resulted in an improvement of the indicators on the labour market, IMAD said, adding however that the growth of wages remains moderate.

Cost competitiveness increased noticeably this year, and the price competitiveness is being maintained at last year's favourable levels.

The decrease in labour costs per product unit in the first half of the year was a consequence of a higher growth of labour productivity after two years of modest growth, IMAD noted.

What is more, the growth of compensation per employee slowed down because of a modest increase in wages. Cost competitiveness improved primarily in manufacturing, commerce, transport, hospitality and construction.

The growth in employment and wages was above the average for the entire economy in manufacturing, mostly owing to a higher growth of added value.

The number of persons in employment is still growing in a majority of industries and is reaching a level comparable to the pre-crisis year 2007.

The manufacturing industry is already facing a shortage of adequate workforce, IMAD analysts warned.


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