Nonfinancial Sector Accounts, Slovenia, 3rd quarter 2019

In the third quarter of 2019 all sectors of economy generated a surplus

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.

  • 12/30/2019
  • |
  • no status

Total economy
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
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%).

Financial corporations
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
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.

Net lending (+) / net borrowing (-) by institutional sector, current prices, Slovenia
Net lending (+) / net borrowing (-) by institutional sector, current prices, Slovenia
Source: SURS
Account of Slovenia with the Rest of the World, current prices, Slovenia
VII–IX 2018X–XII 2018I–III 2019IV–VI 2019VII–IX 2019
mio. EUR
External balance of goods and services1,155.7702.81,011.91,187.91,054.0
Balance of primary incomes931.0498.2925.8952.2872.1
Current external balance820.0425.1791.6843.1768.0
Net lending (+)/net borrowing (-)787.8301.3769.9844.9740.6
Source: SURS
Main aggregates of national accounts by institutional sectors, current prices, Slovenia
VII–IX 2018X–XII 2018I–III 2019IV–VI 2019VII–IX 2019
mio. EUR
Non-financial corporations
Gross value added6,312.56,317.35,850.16,528.86,661.9
Gross disposable income2,084.01,872.51,528.51,618.52,178.1
Gross saving2,084.01,872.51,528.51,618.52,178.1
Net lending (+)/net borrowing (-)436.2187.5-64.16.7337.9
Financial corporations
Gross value added447.8411.6389.1346.3423.6
Gross disposable income158.3-68.276.8-278.497.1
Gross saving111.6-113.350.6-307.745.3
Net lending (+)/net borrowing (-)71.8-159.2-1.2-332.611.2
General government
Gross value added1,551.31,584.51,631.71,703.91,653.5
Gross disposable income2,549.82,721.32,537.52,822.52,785.9
Gross saving487.9539.5370.3582.6605.0
Net lending (+)/net borrowing (-)59.5167.4-63.6124.2193.1
Households and NPISH
Gross value added1,973.52,017.31,881.82,054.52,066.4
Gross disposable income6,684.07,068.16,803.37,617.37,039.0
Gross saving664.5620.91,125.81,409.3627.5
Net lending (+)/net borrowing (-)220.3105.5898.81,046.5198.4
Total economy
Gross value added10,285.110,330.89,752.710,633.610,805.4
Gross disposable income11,476.011,593.710,946.111,780.012,100.0
Gross saving3,348.02,919.53,075.33,302.73,455.9
Net lending (+)/net borrowing (-)787.8301.3769.9844.9740.6
Source: SURS
METHODOLOGICAL NOTE
In this release the term households is used for the household sector, incl. the sector of non-profit institutions serving households (NPISH). Data are available only for the two sectors together. The impact of NPISHs on the total value is small and usually negligible.

All the data are stated in nominal values and are not seasonally adjusted.
Visit our SiStat database.