Gradual Recovery of Slovenia, with Domestic Consumption Kicking In

In the second quarter of 2014 gross domestic product increased by 2.9% over the same quarter of 2013 and 1.0% over the previous quarter, in the first half of 2014 gross domestic product was up by 2.5% External demand was the main driver for increased economic activity, with increase in exports by 5.2%. With exports growing faster than imports, the external trade balance contributed 1.6 percentage points to economic growth.
In addition to external demand, domestic demand which grew (1.4% quarter over quarter) for the third consecutive quarter is once again becoming an important source of economic growth. Investment consumption increased by 8% adding the most significant impact to growth of domestic consumption.
Growth of gross domestic report is a result of favorable macroeconomic environment in most of Slovenian trading partners, gradual recovery of Slovenian banking sector and gradual implementation of structural reforms, where Slovenia still has some work to do.
Source: Statistical Office of The Republic of Slovenia