In Q4 2018 Slovak economy development kept in positive numbers
Staff Writer |
The year-on-year growth of gross domestic products (GDP) reached 3,6% at constant prices, i.e. 0,1 p.p. less than in the 4th quarter of 2017.
Article continues below
In quarter-on-quarter comparison (4th quarter compared with 3rd quarter), the GDP volume after seasonal adjustment increased 0,8% in real terms. The total Slovak GDP volume at current prices amounted to EUR 23 324,7 million and it increased 5,3%, year-on-year.
In the 4th quarter of 2018, the Slovak economic growth was supported mostly domestic demand that increased 5,8%.
Production of gross capital reached more considerable growth 13,9%, of which production of gross fixed capital rose 9%. In the structure of Slovak domestic demand, all expenditure items of final consumption increased, 3,6% in total.
Final consumption expenditures in Slovak public administration increased at most 3,8%, final consumption expenditures of households reached a 3,4% increase. Final consumption of non-profit institutions serving households also recorded a 1,9% slight increase.
Foreign demand also rose, compared with the 4th quarter of 2017, it was higher 4,7%. Import of products and services rose 3,7 p.p. to 7,8%.
In the 4th quarter of 2018, added value amounted to EUR 20 794,8 million of the generated GDP and increased, year-on-year, 3,5%.
Added value rose in majority of sectors. It increased in information and communication 6,8%, in industry 4,9%, in wholesale and retail trade, repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities 4,7%, agriculture 4,2%, construction 4%, in real estate activities 3,5%, professional, scientific and technical activities 1,9%, arts, entertainment and recreation; other service activities 1% and public administration; education; health and social work activities 0,7%.
Decrease was recorded only in financial and insurance activities 8,1%. Collection of net taxes on products was higher 4,4%.
Gross operation surplus and mixed incomes represented EUR 10 498,7 million of the generated GDP income approach.
Compared with the 4th quarter of 2017, it increased 3,8%.
Remunerations of employees in the amount of EUR 10 233,8 million increased 7,5%. The volume of collected taxes on production and imports increased 3,7% to EUR 2 757,5 million.
The value of subsidies increased 19,1% and amounted to EUR 165,3 million.
In 2018, production of gross domestic product reached the value EUR 90 201,8 million. It rose, year-on-year, 6,3% at current prices compared with the corresponding period of 2017. It increased 4,1% at constant prices, i.e. 0,9 p.p. more than in 2017. ■