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Slovenian economy continues to expand solidly

Analysis

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.

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