Nonfinancial Sector Accounts, Slovenia, 2nd quarter 2018
In the first half of 2018, deficits in corporation sectors and surpluses in households and government.
In the first half of 2018, total economy surplus with the rest of the world further increased. Non-financial corporations generated a deficit in the first half, but ended the second quarter alone with a surplus. Households’ increased disposable income was used for both consumption and saving.
In the first half of 2018, total economy surplus (net lending) with the rest of the world amounted to EUR 1,714 million or 7.7% of GDP and compared to the first half of 2017 increased by EUR 511 million. This increase was due to the movement in both the current and the capital account: the current account surplus increased by EUR 366 million, while the capital account deficit decreased by EUR 145 million.
The surplus in the goods and services account increased by EUR 242 million, the deficit in primary incomes decreased by EUR 137 million and the deficit in current transfers increased by EUR 13 million.
In the first half of 2018, the non-financial corporations' deficit (net borrowing) amounted to EUR 173 million or 0.8% of GDP. The deficit was entirely due to the deficit generated in the first quarter as in the second quarter non-financial corporations once again generated a surplus (it amounted to EUR 104 million or 0.9% of GDP). Non-financial corporations generated a surplus also in the first half of 2017 (EUR 81 million or 0.4% of GDP) and in 2017 as a whole (EUR 867 million or 2.0% of GDP). The investment rate (share of gross fixed capital formation in gross value added) was 23.4% and thus 1.4 percentage points higher than in the first half of 2017.
Financial corporations' deficit in the first half of 2018 amounted to EUR 99 million or 0.4% of GDP. The deficit was EUR 152 million lower than in the first half of 2017. After the first quarters' surplus, in the second quarter financial corporations generated a deficit mostly due to the higher expenditure from distributed earnings.
General government generated a surplus in the amount of EUR 218 million or 1.0% of GDP, while the first half of 2017 still ended with a deficit in the amount of EUR 37 million. Total revenues increased by 6.4% and total expenditure by 3.5% over the first half of 2017.
Households and NPISH
Households' gross disposable income amounted to EUR 13,356 million in the first half of 2018 and increased compared to the first half of 2017 by 5.3%. Households' saving rate (share of gross saving in gross disposable income) was 17.8%. It was up by 0.5 of a percentage point compared to the first half of 2017.
Account of Slovenia with the Rest of the World, current prices, Slovenia
Main aggregates of national accounts by institutional sectors, current prices, Slovenia
All the data are stated in nominal values and are not seasonally adjusted.