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.

  • 30 September 2015 at 10:30
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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.

Chart 1: Household saving rates, Slovenia, EU-28, Euro area, 2000-2014
Chart 1: Household saving rates, Slovenia, EU-28, Euro area, 2000-2014
Sources: SURS, Eurostat (http://ec.europa.eu/eurostat, 23. 9. 2015).
Chart 2: Household investment rates, Slovenia, EU-28, Euro area, 2000-2014
Chart 2: Household investment rates, Slovenia, EU-28, Euro area, 2000-2014
Sources: SURS, Eurostat (http://ec.europa.eu/eurostat, 23. 9. 2015).
Table 1: Main aggregates of national accounts by institutional sectors, Slovenia
20102011201220132014
mio EUR
Gross domestic product1)36,25236,89635,98835,90737,303
  Non-financial corporations18,01818,35518,16318,29419,320
  Financial corporations1,6271,5991,2751,1801,216
  General government5,5025,6655,5975,4465,425
  Households6,2396,2915,9845,8516,048
  NPISH196196193192195
Gross national income1)35,91536,60335,73335,70637,245
  Non-financial corporations4,7305,1764,6355,2136,070
  Financial corporations980897901655829
  General government5,1305,3665,6045,7315,634
  Households25,01725,11024,54124,05324,656
  NPISH5954535355
Gross disposable income1)35,52436,17135,22435,18536,792
  Non-financial corporations4,1884,6014,1974,7675,596
  Financial corporations1,086921751628798
  General government7,0757,0287,2427,0247,308
  Households22,85023,30922,78722,44622,767
  NPISH325312247320323
Gross saving1)7,8547,9667,5068,3339,799
  Non-financial corporations4,1884,6014,1974,7675,596
  Financial corporations869861851610751
  General government-278-509-54-87191
  Households3,0883,0312,5693,0283,261
  NPISH-12-18-58150
Changes in net worth due to saving in capital transfers1)935732949882,390
  Non-financial corporations104450-2913311,188
  Financial corporations6388766654,006889
  General government-1,230-1,895-1,037-4,822-1,137
  Households1,4421,3238281,4761,473
  NPISH-19-23-72-4-24
Net lending (+) / Net borrowing (-)1)81979531,6122,600
  Non-financial corporations-77573827201,390
  Financial corporations5507846314,0901,056
  General government-2,044-2,457-1,479-5,400-1,849
  Households1,6741,7381,4872,1922,018
  NPISH-22-25-6810-15
1) Some totals do not add up due to rounding.
Source: SURS
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.