Nonfinancial Sector Accounts, Slovenia, 1st quarter 2021
In the first quarter of 2021, non-financial corporation investments increased
In the first quarter of 2021, trade in goods with the rest of the world increased, non-financial investment activity accelerated, general governments’ revenue, expenditures and deficit increased, and households continued with heavy savings.
Total economy
In the first quarter of 2021, the total economy surplus (net lending) amounted to EUR 994 million (8.5% of GDP) and was EUR 149 million higher than in the first quarter of 2020. The surplus was even higher on the goods and services account and amounted to EUR 1,100 million (9.4% of GDP). Most of the surplus was generated in trade in goods, which increased on both the export and import sides, while trade in services decreased again.
Non-financial corporations
In the first quarter of 2021, non-financial corporations generated a surplus in the amount of EUR 283 million (2.4% of GDP); it was EUR 64 million higher than in the first quarter of 2020. Investment activity increased – the investment rate (ratio between gross fixed capital formation and gross value added) was 21.7% and it was 3.0 percentage points higher than in the first quarter of 2020.
Financial corporations
In the first quarter of 2021, the financial corporations’ surplus amounted to EUR 69 million (0.6% of GDP) and it was EUR 8 million higher than in the first quarter of 2020.
General government
In the first quarter of 2021, general government deficit (net borrowing) amounted to EUR 969 million (8.3% of GDP) and it increased by more than EUR 200 million compared to the first quarter of 2020. The increase was recorded on both the revenue and expenditure sides, but the expenditure growth was higher.
Households and NPISH
In the first quarter of 2021, households’ gross disposable income increased in nominal terms by 3.7% (EUR 267 million) compared to the first quarter of 2020 and amounted it to EUR 7,521 million. Among other issues, due to supportive intervention measures taken by the government to mitigate the consequences of the pandemic, especially in the labour market, the largest shares that contributed to the growth of gross disposable income were compensation of employees or income from work (3.3 p.p.) and gross operating surplus and mixed income (2.3 p.p.).
With further growth in gross disposable income and a smaller recovery in consumption, households’ propensity to save (saving rate) remains well above pre-crisis levels. The gross households saving rate (share of gross saving in gross disposable income) increased by 2.3 p.p. over the first quarter of 2020 and it was 27.2%.
Net lending (+) / net borrowing (-) by institutional sector, current prices, Slovenia
Source: SURS
Account of Slovenia with the Rest of the World, current prices, Slovenia
Source: SURS |
Main aggregates of national accounts by institutional sectors, current prices, Slovenia
Source: SURS |
METHODOLOGICAL NOTE
Due to differences in revision policies and release dates smaller differences occur between sector accounts data and data from other national accounts domains. The discrepancies are of temporal nature and are reconciled in the September data release.
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.
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.
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.
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