Slovenia's Q3 GDP up 5% Y-o-Y

Ljubljana, Dec 1 (IANS) Slovenia's gross domestic product (GDP) rose five per cent year-on-year in the third quarter (Q3) and 1.3 per cent quarter-on-quarter, the country's statistical office has reported.

In the first nine months, the country's GDP increased by 7.4 per cent year-on-year, Xinhua news agency reported.

"As in the previous quarter ... household spending and gross investments contributed the most to GDP growth," the office said.

Household spending was up 9.3 per cent year-on-year in Q3. Investments increased by 27.8 per cent, exports by 10.6 per cent and imports by 19.9 per cent during the period.

Slovenia's harmonised consumer price index (inflation rate) rose by 4.9 per cent year-on-year in November mainly due to higher transport and fuel prices.

The country was badly hit by the Covid-19 pandemic and its GDP fell by 4.2 per cent in 2020. However, its export-oriented economy rebounded in 2021 and the government expects the economy to expand by 6.1 per cent in the whole of 2021.