Nonfinancial assets, Slovenia, 2015, 2016

Non-financial assets (i.e. fixed assets and inventories) in Slovenia totalled EUR 141 billion at the end of 2016

At the end of 2016, EUR 140.7 billion in non-financial assets of the Slovenian economy was 3.5-times higher than the annual GDP. Stocks of fixed assets (net) amounted to EUR 131.4 billion and stocks of inventories to EUR 9.4 billion.

  • 12/21/2017
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Non-financial assets present one of the basic factors of production (i.e. capital) and a measure of wealth that we present in the form of national balance sheet. At the end of 2016, the stock of non-financial assets (i.e. fixed assets and inventories) amounted to EUR 140.7 billion in current prices or 3.5-times the annual GDP (EUR 40,418 million).

The value of Slovenian fixed assets continues to decrease

At the end of 2016, the net stock of fixed assets (i.e. taking into account the consumption of fixed capital or depreciation) of total economy amounted to EUR 131.4 billion. The major part of the value of the fixed assets is represented by buildings and structures (82.5%), followed by machinery and equipment (13.8%), intellectual property products (3.3%) and cultivated biological resources (0.4%).

Removing the effects of inflation, the stocks in real terms decreased by 0.8% in 2016, showing the continuation of the trend of negative growth rates since 2011. The consumption of fixed capital therefore continues to surpass new investments.

The value of buildings and structures decreased in real terms by 0.9% compared to 2015. The decrease by 1.2% was noted also in the net stock of intellectual property products. In the asset group machinery and equipment an increase in value by 0.2% was observed for the first time since 2008. The increase was caused mainly by higher investments and subsequent increase in stock value of the subgroup of transport equipment.

In 2016 fixed assets owned by the government sector increased in real terms by 0.7%

The value of fixed assets decreased in most sectors (non-financial corporations, financial corporations, households and non-profit institutions). An exception is the government sector, where in 2016 the value of fixed assets increased in real terms by 0.7%. The growth slowed down compared to the previous period due to a notable drop in gross fixed capital formation of the government in 2016.

Increase in materials and supplies and in goods for resale in stocks of inventories

In the balance sheet of non-financial assets the stocks of inventories stood at EUR 9.4 billion at the end of 2016 and were higher by 5% in current prices. In the structure of stocks of inventories the largest share was represented by goods for resale (45%), followed by materials and supplies (29%), works-in-progress (15%) and finished goods (11%). The trend of decreasing inventory stocks stopped in 2016 due to an increase in stocks of materials and supplies and in goods for resale in the balance sheets of corporations, which increased nominally by 8%. This increase could indicate the recovery of economic activity.
Non-financial assets as of 31 December, Slovenia
2013201420152016
mio. EUR, current prices
Non-financial assets - total138,612138,629139,479140,711
Fixed assets - total (net)129,072129,576130,564131,353
Dwellings (exl. land)43,04842,86742,83442,997
Other buildings and structures (exl. land)63,00463,91964,72365,331
Machinery and equipment 18,40118,12618,17118,161
…Transport equipment2,9842,8902,9353,092
…ICT equipment1,026907910830
…Other machinery and equipment14,39214,32914,32514,239
Cultivated biological resources463447475490
Intellectual property products4,1564,2174,3614,374
of which: research and development 2,9253,0483,1853,263
of which: computer software and databases709681731693
Inventories - total9,5419,0548,9159,359
Finished goods1,1471,0981,0761,065
Work-in-progress2,0031,5041,4731,408
Materials and supplies2,3222,4282,5002,702
Goods for resale 4,0694,0243,8664,185
Source: SURS
METHODOLOGICAL NOTE
In today’s release of non-financial assets we are publishing the data for 2015 as well as the first estimate for 2016.
Detailed data and time series are available in the SI-STAT database.
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