In the third quarter of 2019, all sectors of economy generated a surplus. With the exception of general government, the surpluses decreased compared to the third quarter of 2018. Total economy surplus amounted to EUR 741 million and decreased by 6 % compared to the third quarter of 2018.
In the third quarter of 2019, total economy generated a surplus (net lending) in the amount of EUR 741 million or 6.0% of GDP (in the third quarter of 2018: EUR 788 million or 6.7% of GDP). The surplus was on the goods and services account and amounted to EUR 1,054 million or 8.5% of GDP (in the third quarter of 2018: EUR 1,156 million or 9.8% of GDP), while in other transactions with the rest of the world the deficit amounted to EUR 313 million or 2.5% of GDP.
Non-financial corporations again generated a surplus; it amounted to EUR 338 million or 2.7% of GDP. The surplus was lower than in the third quarter of 2018 (EUR 436 million or 3.7% of GDP). The investment rate (share of gross fixed capital formation in gross value added) was 20.1% and was 0.7 p.p. lower than in the third quarter of 2018. The profit share (share of gross operating surplus in gross value added) was 38.2% (in the third quarter of 2018: 39.0%).
In the third quarter of 2019, financial corporations generated a surplus in the amount of EUR 11 million or 0.1% of GDP (in the third quarter of 2018: EUR 72 million or 0.6% of GDP).
General government again generated a surplus: it amounted to EUR 193 million or 1.6% of GDP (in the third quarter of 2018: EUR 59 million or 0.5% of GDP). Revenues growth exceeded the growth of expenditures; compared to the third quarter of 2018, it was 7.4 % and was 2.6 p.p. higher than the expenditure growth.
Households and NPISH
Households’ gross disposable income increased in third quarter of 2019 as well. It amounted to EUR 7,039 million and was up by 5.3% over the third quarter of 2018.
The saving rate (share of gross saving in gross disposable income) was 8.8%. This time the saving rate was down compared to last year's third quarter (by 1 p.p.). Compared to the first half of the calendar year, in the second half household saving rates are generally lower, mostly due to higher spending during this period.
Revision of data
Due to change in accounting of major transactions of imports and exports, the first estimate of sector accounts data for the fourth quarter of 2019 will be released together with the revision of the data for the previous three years. The annual data will be revised for 2017 and 2018 and the quarterly data for the 2016–2018 period. The revised data will be published on 31 March 2020.
Account of Slovenia with the Rest of the World, current prices, Slovenia
Main aggregates of national accounts by institutional sectors, current prices, Slovenia