Nonfinancial sector accounts, Slovenia, 2014
In 2014 non-financial corporations almost doubled the surplus
Surplus in transactions with the rest of the world increased by more than 61% in 2014. Non-financial corporations almost doubled the surplus. Despite the drop in net lending, households contributed most to the surplus of the total economy.
Slovenia again recorded a surplus in transactions with the rest of the world
In 2014, Slovenia recorded a surplus in transactions with the rest of the world; it amounted to EUR 2,600 million (7.0% of GDP) and was 61% higher than in the previous year. The size of the surplus was mainly influenced by the growth in exports of goods and services. Due to the growth in exports, which was 2.8 percentage points higher than the growth in imports, the balance of goods and services increased to EUR 2,936 million or 7.9% of GDP (previous year: EUR 2,016 million or 5.9% of GDP). Gross national income in 2014 was estimated at EUR 37,245 million (99.8% of GDP) and was 4.3% higher than in the previous year.
Non-financial corporations increased their surplus, while the general government decreased its deficit
In 2014 the surplus (EUR 1,390 million) of non-financial corporations was almost double the surplus in 2013 (EUR 720 million). Financial corporations decreased net lending significantly (from EUR 4,090 million to EUR 1,056 million), which is basically an impact of substantially smaller government capital injection into banks. The general government decreased net borrowing (deficit) significantly (from EUR 5,400 million to EUR 1,849 million). Households decreased net lending in 2014 by 8%; the reason is the 10% increase in gross capital formation.
The household saving rate increased again in 2014 and is higher than the EU-28 average
The household saving rate in Slovenia was decreasing since 2008. However, in 2013 and in 2014 it increased again; the household saving rate in 2014 increased by 0.7 of a percentage points to 14.1%. The Slovenian households thus saved 14.1% of disposable income. The household saving rate in Slovenia for 2014 is above the currently published EU-28 average as well as the euro area average.
The share of compensation of employees in household income increased slightly, the share of social transfers and benefits in household income slightly decreased in 2014
The vast majority of household income is compensation of employees. In 2014 it represented 51.2% of total income; the share in household income was 0.3 of a percentage point higher than in the previous year. After it was decreasing for sixth consecutive years, the share of operating surplus with mixed income increased again and represented 14.5% in 2014; the share in household income was 0.3 of a percentage point higher than in the previous year. The share of social transfers and benefits – where pensions, sick and maternity benefits, allowances for unemployment, family allowances and social transfers in kind are classified –represented 30.5% in the household income in 2014; the share in household income was 0.6 of a percentage point lower than in the previous year. The share of other incomes – where interests, dividends, rents, non-life insurance claims and miscellaneous current transfers are classified – did not change in 2014 and represented 3.8% of the household income.
The household investment rate increased in 2014, but it is still lower than the EU-28 average
The Slovenian households invested 5.8% of disposable income in 2014; this is 0.2 of a percentage point more than in 2013, but still 4.8 percentage points less than in 2008 when the investment rate was the highest. The household investment rate in Slovenia was, except in 2008, in the whole 2000-2014 period below the EU-28 and euro area average.
We are publishing revised annual non-financial sector accounts for the 2001-2013 period
Because of the routine annual revision of GDP, small revisions in non-financial corporations, financial corporations, general government, household and rest of the world accounts, we are publishing revised annual non-financial sector accounts for the 2001-2013 period.
Table 1: Main aggregates of national accounts by institutional sectors, Slovenia
1) Some totals do not add up due to rounding.