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Slovenia's GDP fell by 1.7% in the second quarter . In comparison with the second quarter of 2012, in the second quarter of 2013 gross domestic product (GDP) decreased by 1.7%. In the first half of 2013 it decreased by 3.2%. In comparison with the previous quarter, seasonally adjusted GDP decreased by 0.3%. In comparison with the second quarter of 2012 it decreased by 2.2%.
Domestic demand continues to have a negative impact on the economic activity in Slovenia, but the impact was significantly smaller than in previous quarters, thus the decline in GDP was not as great as at the beginning of the year. Private final consumption decreased by 2%. The consumption of durable products was higher by 2.9% and the consumption of other products was lower by 2.5%. Government final consumption decreased again, this time by 3.1%. Gross fixed capital formation fell by 3%. A significant decline was prevented, as in the previous quarter, by individual, large and presumably one-time purchases of capital goods abroad, particularly transport equipment and machinery. Gross fixed capital formation in the mentioned capital goods increased by 9%, but on the other hand gross fixed capital formation in construction decreased by 11.1%.
A positive influence on the economic activity in Slovenia, the same as in previous quarters, was again contributed by external demand. Exports increased by 2%, while imports remained at about the same level as a year before. Thus the external trade balance contributed to the economic growth 1.5 percentage points. It is to be noted that the terms of trade improved in the second quarter – index 101.8, which had a positive effect on the value added of the economy.
The value added decreased in construction by 11.1%, in financial and insurance activities by 7.1%, and in manufacturing by 2.1%. In the second quarter net taxes on products did not decrease as much as they did in the previous quarter (-12.4%). This time they decreased by 1.6% Statistical Office Slovenia
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