Slovenia's economy shrank 13 percent year-on-year in the second quarter of 2020, after an upwardly revised 2.5 percent contraction in the previous period. The GDP fell for the second consecutive quarter and at the sharpest pace on record, mainly due to the negative impact of the country's coronavirus-induced lockdown. Consumer spending declined 16.6 percent, much faster than a 5.8 percent contraction in Q1 2020; and gross fixed capital formation slipped 16.7 percent, after decreasing 5.5 percent. Meanwhile, government expenditure rose 1.5 percent, slowing from a 4.9 percent increase in the previous period. Regarding net trade, exports plunged 24.5 percent (vs -1.9 percent in Q1) and imports slumped 25 percent (vs -1.9 percent in Q1). On a seasonally adjusted quarterly basis, the economy shrank at a record 9.6 percent, following an upwardly revised 4.8 percent contraction in the prior period. source: Statistical Office of the Republic of Slovenia
GDP Annual Growth Rate in Slovenia averaged 2.51 percent from 1996 until 2020, reaching an all time high of 8 percent in the first quarter of 2007 and a record low of -13 percent in the second quarter of 2020. This page provides - Slovenia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovenia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Annual Growth Rate in Slovenia is expected to be -6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Slovenia to stand at 16.80 in 12 months time. In the long-term, the Slovenia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 2.70 percent in 2022, according to our econometric models.