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Slovenia Business Week no. 23: Inflation, Exports, Imports Up, IMAD Report Says

The latest edition of the Economic Mirror, published by the Institute of Macroeconomic Analysis and Development (IMAD), recorded an increase in the annual inflation rate (3.2%; May), exports (18.7%) and imports (18.1%) in Q1

The latest edition of the Economic Mirror, published by the Institute of Macroeconomic Analysis and Development (IMAD), recorded an increase in the annual inflation rate (3.2%; May), exports (18.7%) and imports (18.1%) in Q1.

Meanwhile, the monthly inflation rate stood at 0.9% in May, a rise attributed to an increase in fuel, food and soft drinks prices, according to the May edition of the Economic Mirror.

IMAD also saw Slovenian exports rise 18.7% in Q1 of 2006, caused by a favourable economic climate in the EU.

Exports into EU members in the January-to-March period meanwhile grew by 18.8%, with Great Britain, Austria and Italy being the EU's fastest-growing export markets for Slovenian goods.

The growth of imports, although lagging behind exports, still grew by 18.1% in Q1, mainly due to intermediate goods, a consequence of a rapid growth of industrial output.

Labour market indices were also favourable in the January-to-March period, with 0.9% more people employed in comparison with the same period last year.

The number of unemployed was still relatively high, with 70,000 people (1.4% over that of Q1 2005) looking for jobs. The number did drop by 5.4% in comparison with that of Q4 2005, the report also states.

Source: Slovene Press Agency STA

Author: STA