The Slovenia Times

GDP fell by 0.2 percent in the first quarter of 2012


Seasonally and working days adjusted GDP grew by 0.2 percent in the first quarter of 2012 compared to the fourth quarter of 2011.

In the first quarter of 2012, final consumption expenditure increased by 1.0 percent. This can be regarded as one of key elements that contributed to smaller decrease in GDP compared to the end of 2011. Household final consumption expenditure was higher by 1.4 percent; following noticeable decrease in the fourth quarter of 2011, general government final consumption grew slightly in the first quarter of 2012 (by 0.2 percent).

Gross capital formation was 10.5 percent lower than a year ago and still shows no signs of recovery. Gross fixed capital formation fell by 10.9 percent and investments in inventories contributed 0.3 percentage points to the GDP decline.

For transactions of goods and services with the rest of the world the same movements can be observed as in the previous year. The growth dynamics of exports of goods and services continues to decline, resulting in exports being only slightly, by 0.9 percent, higher than in the first quarter of 2011. Imports of goods and services fell at the beginning of 2012; compared to the first quarter of 2011 it was lower by 1.1 percent. The impact of external trade balance on economic growth remains positive.

Total value added of the Slovenian economy fell by 0.9 percent in the first quarter of 2012 compared to the first quarter of 2011. In trade, transport and hotels it decreased by 1.1 percent; in manufacturing it remained flat; in activities with predominantly non-market producers (public administration, education, health) it increased by 1.4 percent.


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