Nonfinancial sector accounts, 2024
Slovenian economy generated a surplus with the rest of the world, households saved less
Last year, the total economy recorded a surplus with the rest of the world. It was generated by all domestic sectors except general government. The surplus of financial corporations went up, and that of non-financial corporations and households down. The household saving rate fell.
Slovenian economy generated a surplus of 4.5% of GDP
The total economy generated a surplus of EUR 3,015 million in transactions with the rest of the world, which is slightly more than the year before (EUR 2,989 million), while its share in GDP fell from 4.7% to 4.5% of GDP. The balance of trade in goods and services with the rest of the world amounted to EUR 4,164 million. Compared to 2023, it was lower, as imports grew more than exports. As regards services, moderate growth was recorded in both imports and exports, nominally by 6.1% and 4.5%, respectively, while as regards goods, imports grew by 1.6% and exports by 1.4%.
Gross national income amounted to EUR 66,702 million, which was 5.2% more than in the previous year (EUR 63,390 million). Its size affects the amount of funds that Slovenia pays into the EU budget.
Non-financial corporations reduced their surplus
Non-financial corporations generated a surplus of EUR 355 million (0.5% of GDP) in 2024, which was lower than the year before (2023: EUR 1,274 million or 2.0% of GDP).
The gross profit share (the share of gross operating surplus in the value added of non-financial corporations) decreased by 1.7 percentage points, from 35.1% to 33.4%. A decline in the gross profit share of non-financial corporations was also recorded for the EU-27 average and the euro area average, both by 1.9 percentage points.
The gross investment rate (the share of gross fixed capital formation in value added) measures investment activity of non-financial corporations. It amounted to 21.0%, and shrank barely noticeably compared to the previous year (by 0.1 of a percentage point). The decline in investment activity was also recorded for the EU-27 average (by 0.6 p.p.) and the euro area average (by 0.7 p.p.). Their gross investment rates remain higher compared to Slovenia (EU-27: 22.3%, euro area: 21.7%).
Financial corporations increased their surplus
Financial corporations ended with a surplus of EUR 417 million. It increased compared to the previous year (2023: EUR 107 million). The reason is higher value added in insurance, and still high interest margins of banks on deposits in monetary intermediation.
The general government sector reduced its deficit
The government ended 2024 with a deficit. It amounted to EUR 637 million (0.9% of GDP), which is EUR 1,018 million less than the year before (2023: EUR 1,655 million or 2.6% of GDP). Revenues increased by 9.0% and expenditures by 5.1%.
Social contributions contributed even more significantly to the growth of revenues in 2024 due to the implementation of mandatory health contribution. Revenues were also increased by taxes on income and capital tax due to the introduction of a tax on the balance wealth. Social benefits in cash and in kind contributed most to the growth of expenditures.
Household gross saving rate lower
In 2024, the household sector, together with NPISH, showed a surplus of EUR 2,880 million. Their gross disposable income increased from EUR 38,460 to EUR 40,087 million compared to 2023, i.e. by 4.2%. In the structure of total household income, compensation of employees represents the largest share, which this time decreased from 52.2% to 51.6%. Compensation of employees grew by 6.2%, which is less than the previous year (2023: 10.6%). Social benefits, gross operating surplus and miscellaneous income, as well as other current transfers and property income also contributed to the growth in gross disposable income.
Final consumption expenditure grew more than household disposable income, which is why the share of gross saving in household disposable income decreased. The gross saving rate of households decreased by 1.4 percentage points compared to 2023, amounting to 13.3%, and was this time lower compared to the rates for the EU-27 average (14.6%) and the euro area (15.3%).
Tables with the latest data are available in the SiStat Database.
The total economy generated a surplus of EUR 3,015 million in transactions with the rest of the world, which is slightly more than the year before (EUR 2,989 million), while its share in GDP fell from 4.7% to 4.5% of GDP. The balance of trade in goods and services with the rest of the world amounted to EUR 4,164 million. Compared to 2023, it was lower, as imports grew more than exports. As regards services, moderate growth was recorded in both imports and exports, nominally by 6.1% and 4.5%, respectively, while as regards goods, imports grew by 1.6% and exports by 1.4%.
Gross national income amounted to EUR 66,702 million, which was 5.2% more than in the previous year (EUR 63,390 million). Its size affects the amount of funds that Slovenia pays into the EU budget.
Non-financial corporations reduced their surplus
Non-financial corporations generated a surplus of EUR 355 million (0.5% of GDP) in 2024, which was lower than the year before (2023: EUR 1,274 million or 2.0% of GDP).
The gross profit share (the share of gross operating surplus in the value added of non-financial corporations) decreased by 1.7 percentage points, from 35.1% to 33.4%. A decline in the gross profit share of non-financial corporations was also recorded for the EU-27 average and the euro area average, both by 1.9 percentage points.
The gross investment rate (the share of gross fixed capital formation in value added) measures investment activity of non-financial corporations. It amounted to 21.0%, and shrank barely noticeably compared to the previous year (by 0.1 of a percentage point). The decline in investment activity was also recorded for the EU-27 average (by 0.6 p.p.) and the euro area average (by 0.7 p.p.). Their gross investment rates remain higher compared to Slovenia (EU-27: 22.3%, euro area: 21.7%).
Financial corporations increased their surplus
Financial corporations ended with a surplus of EUR 417 million. It increased compared to the previous year (2023: EUR 107 million). The reason is higher value added in insurance, and still high interest margins of banks on deposits in monetary intermediation.
The general government sector reduced its deficit
The government ended 2024 with a deficit. It amounted to EUR 637 million (0.9% of GDP), which is EUR 1,018 million less than the year before (2023: EUR 1,655 million or 2.6% of GDP). Revenues increased by 9.0% and expenditures by 5.1%.
Social contributions contributed even more significantly to the growth of revenues in 2024 due to the implementation of mandatory health contribution. Revenues were also increased by taxes on income and capital tax due to the introduction of a tax on the balance wealth. Social benefits in cash and in kind contributed most to the growth of expenditures.
Household gross saving rate lower
In 2024, the household sector, together with NPISH, showed a surplus of EUR 2,880 million. Their gross disposable income increased from EUR 38,460 to EUR 40,087 million compared to 2023, i.e. by 4.2%. In the structure of total household income, compensation of employees represents the largest share, which this time decreased from 52.2% to 51.6%. Compensation of employees grew by 6.2%, which is less than the previous year (2023: 10.6%). Social benefits, gross operating surplus and miscellaneous income, as well as other current transfers and property income also contributed to the growth in gross disposable income.
Final consumption expenditure grew more than household disposable income, which is why the share of gross saving in household disposable income decreased. The gross saving rate of households decreased by 1.4 percentage points compared to 2023, amounting to 13.3%, and was this time lower compared to the rates for the EU-27 average (14.6%) and the euro area (15.3%).
Tables with the latest data are available in the SiStat Database.
Net lending (+) / net borrowing (-) by institutional sector, Slovenia, current prices
Gross investment rate of non-financial corporations, Slovenia, EU-27, euro area
Gross household saving rate, Slovenia, EU-27, euro area
METHODOLOGICAL NOTE
The release presents data for the household sector together with the sector of non-profit institutions serving households (NPISH). For the sake of comparability with the EU-27 indicator and the euro area indicator, we took into account households together with the NPISH when calculating the gross household saving rate. The saving rates for the EU-27 and the euro area are only available for both sectors together. The value of the NPISH data has a small, negligible impact on the total value with households.
A new methodological basis is being prepared to upgrade the current European regulation (European System of Accounts, ESA 2010). The introduction of the new ESA is planned for the entire EU in 2030, so a more extensive revision of national accounts data is planned for that year.
Additional explanations are available in the methodological explanations.
A new methodological basis is being prepared to upgrade the current European regulation (European System of Accounts, ESA 2010). The introduction of the new ESA is planned for the entire EU in 2030, so a more extensive revision of national accounts data is planned for that year.
Additional explanations are available in the methodological explanations.
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.
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