According to the Statistical Office, the second quarter (Q2) of 2013 saw a 1.7 percent year-on-year contraction of GDP. Compared to Q1, GDP shrank by an additional 0.3%, and 2.2% in comparison to the same period last year. The overall fall of Slovenian GDP in the first half of 2013 amounted to 3.2%.
Household and government spending lower
The economic activity is still negatively influenced by weaker demand from the home market, but the impact was substantially lesser than the previous quarters. Private consumption decreased by 2%, government expenditure by 3.1%, and gross fixed investment by 3%.
Exports rising
Similarly to the previous quarters, there was a positive influence of foreign demand on the economic activity. Exports rose by 2%, while imports remained more or less on the same level than last year.
Gross value added witnessed the greatest decline in construction business, by 11.1%, a 7.1% drop in financial services and insurance companies, and a 2.1% decrease in the processing industry. Net taxes on products fell by 1.6%, compared to a 12.4% contraction in Q1.