Slovenian economy continues to expand solidly
Photo by Zerbor / Shutterstock.com
Slovenia's gross domestic product (GDP) advanced by 9.8% year-on-year in the first quarter of 2022, following a 10.4% growth in the previous three-month period, data released by the Statistics Bureau of Slovenia (SURS) showed on Tuesday.
It was the fifth consecutive quarter of economic expansion and at a robust pace, mainly boosted by household consumption (20% vs 22.9% in Q4) and fixed investment (12.7% vs 11%).
Meanwhile, government spending slowed (2.9% vs 7%).
However, net trade contributed negatively to the GDP, as imports (15.7% vs 16.8% in Q4) rose faster than exports (7.7% vs 12.1% in Q4).
On a quarterly basis, the economy grew by 0.8%, after a downwardly revised 5.3% rise in the previous quarter.
In a separate report, the Ljubljana-based statistics bureau said, that Slovenia's annual inflation rate jumped to 8.1% annually in April from a 6.9% increase a month ago.
Inflation accelerated in most categories, namely housing (11.1%); food & non-alcoholic beverages (10.7%) and furnishings (9.4%).
On a monthly basis, consumer prices grew by 2% vs. 2.6% in March.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.