Economy in focus

Slovenia's economy showed robust growth in the second quarter of 2022, expanding at an annual rate of 8.2%. This growth was driven by strong domestic and foreign demand, with household expenditure and services trade playing significant roles.

Key Highlights:

• Domestic consumption increased by 8%, with household expenditure rising by 10.6%.
• Gross fixed capital formation saw a 6.4% increase, and changes in inventories contributed positively to GDP growth.
• Exports of services surged by 38.7%, outpacing the growth in imports of services, which increased by 22.4%.
• Total exports grew by 8.7%, and imports increased by 8.5%, with a favorable impact on the external trade balance.
• Total value added rose by 8.7%, with trade activity being the primary driver.
• The services sector, especially information and communication, and professional activities, demonstrated strong growth.
• Manufacturing showed a positive but slower growth rate of 2.7%.
• Total employment increased by 3.4% year-on-year, with significant job creation in construction, manufacturing, and professional activities.
• When adjusted for season and workdays, Slovenia's economy expanded by 8.3% year-on-year and 0.9% compared to the previous quarter, aligning with EU standards.

Slovenia's economy remains resilient and diverse, driven by dynamic sectors and strong trade, contributing positively to its overall growth.