Slovenian economic mirror No. 7, Vol. XXV, 2019 Slovenian Economic Mirror No. 7 / Vol. XXV / 2019 Publisher: IMAD, Ljubljana, Gregorčičeva 27 Responsible Person: Marijana Bednaš, MSc, Director Editor in Chief: Tina Nenadič, MSc Authors of Current Economic Trends (listed alphabetically): Urška Brodar; Lejla Fajic; Marjan Hafner, MSc; Matevž Hribernik, MSc; Katarina Ivas, MSc; Mojca Koprivnikar Šušteršič; Tanja Kosi Antolič, PhD; Janez Kušar, MSc; Jože Markič, PhD; Tina Nenadič, MSc; Mitja Perko, MSc; Jure Povšnar; Denis Rogan, MSc; Dragica Šuc, MSc; Ana Vidrih, MSc Editorial Board: Marijana Bednaš, MSc; Lejla Fajic, Alenka Kajzer, PhD; Rotija Kmet Zupančič, MSc; Janez Kušar, MSc Translator: Marija Kavčič Data Preparation, Graphs: Bibijana Cirman Naglič DTP: Ema Bertina Kopitar Print: Eurograf d.o.o. Circulation: 80 copies ISSN 1318-3826 (print) ISSN 1581-1026 (pdf) © The contents of this publication may be reproduced in whole or in part provided that the source is acknowledged. Contents In the spotlight...........................................................................................................................................3 Current economic trends.......................................................................................................................5 International environment.......................................................................................................................7 Economic developments in Slovenia....................................................................................................8 Labour market............................................................................................................................................12 Prices..............................................................................................................................................................14 Balance of payments................................................................................................................................15 Financial markets.......................................................................................................................................16 Public finance.............................................................................................................................................17 Statistical appendix...............................................................................................................................19 The Economic Mirror is prepared based on statistical data available by 7th November 2019. On 1 January 2008, the new classification of activities of business entities NACE Rev. 2, which replaced NACE Rev. 1.1, came into force in all EU Member States. In the Republic of Slovenia the national version of the standard classification, SKD 2008, took effect. It includes the entire European classification of activities but also adds some national subclasses. All analyses in the Slovenian Economic Mirror are based on SKD 2008, except when the previous classification, SKD 2002, is explicitly referred to. For more information on the introduction of the new classification see the SURS website http://www.stat.si/eng/skd_nace_2008.asp. All current comparisons (at the monthly, quarterly levels) in the Slovenian Economic Mirror are made on the basis of seasonally adjusted data, while year-on-year comparisons are based on original data. Unless otherwise indicated, all seasonally adjusted data for Slovenia are calculations by IMAD. Slovenian Economic Mirror, No 7/2019 In the spotlight 3 In the spotlight The moderation of foreign demand growth is reflected in more modest growth in the export-oriented sectors of the Slovenian economy this year. The growth of manufacturing production in the first eight months was more modest than last year in all except high-technology activities. Lower growth was also recorded for most goods exports, particularly the export of intermediates, which are usually integrated in global value chains. The overall growth of both goods imports and exports was otherwise still high, but mainly as a consequence of stronger trade and distribution activity in medicinal and pharmaceutical products rather than higher pharmaceutical production. Exports of medicinal and pharmaceutical products made the largest contribution to the otherwise modest increase in the export market share on the world market in the first half of the year. The slowdown in market share growth on the world market - which is otherwise related to the absence of the high growth rates in passenger car exports seen in previous years - is also due to the geographical orientation of Slovenian exports to the EU market, where Slovenian market share growth remains relatively favourable amid more modest growth in demand. In the summer months, weaker growth was also recorded for exports and imports of services, transport services in particular, which reduced growth in the entire transportation sector. In sectors that are mainly related to private consumption, activity has mostly been strengthening. Turnover growth in retail trade in non-durable goods is rising further and turnover in the sale of durable goods remains high. Household spending on services related to leisure activities at home and abroad has also increased further. The strong turnover growth in hotels and restaurants was otherwise generated by foreign tourists, same-day foreign visitors and transit tourists. Moreover, the growth of household disposable income has had a positive effect on activity in residential construction. Activity in other construction segments has, however, been easing in recent months, notably in the construction of non-residential buildings, which is related to deteriorated expectations in the business sector and the investment activity thereof. Confidence in construction is deteriorating further. In recent months, confidence has also started to fall among consumers, who are less optimistic regarding the economic situation in the country and employment in the next few months. The decline in registered unemployment has slowed in the last few months; wage growth remains high, while cost competitiveness is gradually worsening with lower productivity growth. The growth of employment has slowed as well and is lower than last year, driven mostly by the hiring of foreigners. Wage growth is higher than last year amid the shortage of (appropriate) workforce and the relatively low unemployment rate. Particularly in the private sector, the wage growth is also due to the increase in the minimum wage. Growth in unit labour costs rose amid more modest growth in GDP and productivity, as in other EU countries, more notably in manufacturing. In the second quarter, unit labour costs increased more in Slovenia than in its trading partners. In the third quarter, Slovenia also had higher inflation, which was reflected in the moderate deterioration of the price competitiveness indicator. The growth of loans (household loans in particular) and deposits has continued. Household loans account for around 80% of the total net increase in domestic non-banking sector loans. The fastest growth (over 10%) was recorded for consumer loans, which are contributing to higher household consumption. Deposits in non-banking sectors also continue to grow. Given the low interest rates, particularly overnight deposits are on the rise, accounting for almost 70% of all non-banking deposits. The general government surplus in the first nine months was more than half lower year on year. Revenue increased less than in the same period last year, while expenditure growth strengthened and exceeded revenue growth. With more modest EU funds absorption, the lower revenue growth mainly reflected weaker growth in revenues from taxes, personal income tax in particular. The growth of revenue from the value added tax also eased. With further growth in employment and wages, social security contributions increased to a similar extent as in the same period last year. The stronger growth in expenditure was mainly driven by increased public servant wages and employment in the public sector, alongside higher expenditure on social transfers. 4 In the spotlight Slovenian Economic Mirror, No 7/2019 I The growth of activity is moderate in most sectors; activity in construction declined. I The deterioration of prospects has mostly eased in the second half of the year; consumer confidence has started to decline in recent months. -Industrial production in man. Value of construction output -Turnover in services (nom.) Mercha ndise exports -Turnover in trade 140 130 120 110 100 -Economic sentiment -Retail trade -Construction -Manufacturing -Service activities -Consumers Source: SURS; calculations by IMAD. Source: SURS; calculations by IMAD. I Employment growth slowed; wage growth in the private sector is similar to that of last year. II II il II 1 1 Employed Unemployed Gross wage Gross wage public sector private sector Source: SURS and ESS; calculations by IMAD. I Unit labour costs have been rising faster than in Slovenia's trading partners in the last period; price competitiveness also worsened in the third quarter. -Price competitiveness (REER_hicp)) -Cost competitiveness (REER_ulc) 110 |-1 s g 108 Sj^ 106 E S 2-g 104 ra JS 102 ra l I r 100 I §98 gf 96 oe OOOOOOOOOOOOOOO Source: ECB; calculations by IMAD. Note: The movement of competitiveness indicators with regard to the narrower group (37) of trading partners. Year-on-year price growth has eased in the last few months; growth in the prices of services remains high amid solid household consumption. I In the first nine months, the general government surplus on a cash-flow basis was more than half lower year on year. Slovenia Euro area ■ General government balance -Revenues (right axis) I Primary balance Expenditure (right axis) 12 9 6 . Ç _c 3 ! 0 ? ar e -3 ? Source: SURS, Eurostat. Source: MF, calculations by IMAD. 2018 5 0 -15 4 3 2 a -12 current economic trends Slovenian Economic Mirror, No 7/2019 International environment Current Economic Trends 7 I Figure 1: IMF outlook for world economic growth and global trade for 2019 and 2020 7 6 c 5 JZ 4 u 3 M rj 2 OJ Œ 2018 «Forecast for 2019 (Oct 19) Forecast for 2020 (Oct 19) -Forecast July 2019 ■i zl i M ■^■rf 1 Tn P i il ii Source: IMF WEO, October 2019. 7 6 ^ c 5 I- 4 1 CT _ < >< Source: MF; calculations by IMAD. statistical appendix Slovenian Economic Mirror, No 7/2019 Statistical Appendix 21 Main indicators 2013 2014 2015 2016 2017 2018 2019 | 2020 | 2021 Autumn forecast 2019 GDP (real growth rates, in %) -1.0 2.8 2.2 3.1 4.8 4.1 2.8 3.0 2.7 GDP in EUR million (current prices) 36,454 37,634 38,853 40,367 42,987 45,755 48,242 50,910 53,581 GDP per capita, in EUR (current prices) 17,700 18,253 18,830 19,551 20,809 22,083 23,350 24,641 25,934 GDP per capita (PPS)1 21,900 22,700 23,800 24100 25500 27000 GDP per capita (PPS EU28=100)1 82 82 82 83 85 87 Rate of registered unemployment 13.1 13.1 12.3 11.2 9.5 8.2 7.7 7.2 6.9 Standardised rate of unemployment (ILO) 10.1 9.7 9.0 8.0 6.6 5.1 4.3 4.0 3.8 Labour productivity (GDP per employee) 0.1 2.4 0.9 1.3 1.8 0.9 0.3 1.5 1.9 Inflation2, year average 1.8 0.2 -0.5 -0.1 1.4 1.7 1.8 2.0 2.3 Inflation2, end of the year 0.7 0.2 -0.4 0.5 1.7 1.4 2.3 2.2 2.3 INTERNATIONAL TRADE Exports of goods and services (real growth rates, in %) 3.1 6.0 4.7 6.5 10.8 6.6 7.8 5.0 4.8 Exports of goods 3.3 6.3 5.3 6.2 11.0 6.5 8.1 4.9 4.7 Exports of services 2.0 5.0 2.4 7.7 9.9 7.2 6.8 5.6 5.0 Imports of goods and services (real growth rates, in %) 2.1 4.2 4.3 6.7 10.7 7.7 9.2 5.8 5.5 Imports of goods 2.9 3.8 5.1 7.0 11.1 8.5 9.9 5.8 5.6 Imports of services -2.3 6.1 0.1 4.7 8.6 3.0 5.4 5.7 5.0 Current account balance3, in EUR million 1,204 1,924 1,482 1,942 2,635 2,593 2,348 2,398 2,289 As a per cent share relative to GDP 3.3 5.1 3.8 4.8 6.1 5.7 4.9 4.7 4.3 Gross external debt, in EUR million 41,143 46,779 46,148 44,293 43,191 42,100 44,962* As a per cent share relative to GDP 112.9 124.3 118.8 109.7 100.5 92.0 Ratio of USD to EUR 1.328 1.329 1.110 1.107 1.129 1.181 1.123 1.115 1.115 DOMESTIC DEMAND Private consumption (real growth rates, in %) -3.9 1.6 2.0 4.4 2.3 3.4 3.4 2.7 2.2 As a % of GDP 56.1 55.0 54.0 53.9 52.7 52.3 52.4 52.2 51.8 Government consumption (real growth rates, in %) -2.0 -0.2 2.3 2.5 0.3 3.2 2.2 1.7 1.4 As a % of GDP 19.6 18.9 18.8 19.1 18.4 18.3 18.5 18.5 18.6 Gross fixed capital formation (real growth rates, in %) 3.4 -0.1 -1.2 -3.7 10.4 9.4 6.8 6.8 7.0 As a % of GDP 19.6 19.1 18.7 17.4 18.3 19.2 19.9 20.7 21.6 Sources: SURS, BoS, Eurostat, calculations and forecasts by IMAD (Autumn Forecast 2019). Notes: 1 Measured in purchasing power standard; 2 Consumer price index; 3 Balance of payments statistics; * End August 2019. 22 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Production 2016 2017 2018 2017 2018 2019 2017 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 9 10 11 12 INDUSTRIAL PRODUCTION, y-o-y growth rates, % ndustry B+C+D 7.1 7.7 4.9 5.7 7.8 9.8 7.8 5.6 3.5 2.5 3.1 4.0 8.3 13.3 9.8 6.0 B Mining and quarrying 1.7 2.6 -1.0 8.0 3.0 -10.6 -16.9 6.6 6.5 0.3 9.0 -1.2 -16.1 -17.8 -3.0 -8.3 C Manufacturing 8.2 8.3 5.3 6.4 8.4 10.8 8.6 6.0 3.8 2.9 3.4 4.3 9.3 14.4 10.8 6.9 D Electricity, gas & steam supply1 -3.4 1.9 1.1 -1.1 1.3 2.7 4.1 0.7 0.4 -1.0 -0.8 1.4 3.0 9.1 1.5 -1.9 CONSTRUCTION2, real indices of construction put in place, y-o-y growth rates, % Construction, total -17.7 17.7 19.8 17.3 8.3 26.0 18.6 17.1 28.8 14.9 23.1 8.6 7.0 31.1 26.0 20.0 Buildings 2.4 27.6 16.8 40.0 9.4 30.7 25.5 16.5 28.5 2.4 18.7 5.9 11.3 44.8 30.4 17.7 Civil engineering -24.8 14.4 21.1 9.1 8.3 25.0 13.3 17.8 29.4 20.5 24.1 10.0 5.5 26.4 23.8 24.9 MARKET SERVICES, year-on-year growth rates, % Services, total 5.0 8.2 8.2 7.9 8.2 10.1 7.3 8.5 8.8 8.2 7.8 5.7 6.8 11.5 10.3 8.6 Transportation and storage 3.6 10.8 9.3 9.8 10.9 11.4 8.6 10.1 9.6 9.0 8.4 6.0 8.8 15.3 12.4 6.5 Information and communication activities 3.5 5.8 3.9 7.7 4.5 7.2 6.1 1.0 4.2 4.6 4.9 5.8 3.6 8.8 6.5 6.7 Professional, scientific and technical activities -0.8 3.7 16.1 3.4 1.2 7.8 10.9 18.5 16.5 17.3 11.2 2.9 3.9 7.4 3.9 11.6 Administrative and support service activities 7.7 12.2 7.3 12.3 9.2 15.6 8.5 11.2 7.9 2.0 2.6 4.6 8.5 14.7 22.6 10.1 DISTRIBUTIVE TRADES, y-o-y growth rates, % Total real turnover* 6.7 8.5 8.1 7.8 8.3 11.7 3.9 7.8 8.3 11.7 10.2 5.6 7.6 8.5 8.7 0.9 Real turnover in retail trade 4.4 7.4 4.6 2.5 4.2 11.9 -0.9 2.5 4.2 11.9 9.1 6.7 7.2 2.7 6.2 -1.6 Real turnover in the sale and maintenance of motor vehicles 21.8 14.1 11.6 15.9 15.8 3.3 12.3 15.9 15.8 3.3 9.0 2.7 10.5 21.6 16.1 6.3 Nominal turnover in wholesale trade & commission trade 3.5 6.9 9.3 8.8 9.2 14.6 4.1 8.8 9.2 14.6 11.6 5.9 5.6 7.7 7.3 0.1 TOURISM, y-o-y growth rates, % Total, overnight stays 8.5 12.3 10.5 19.4 12.8 8.5 2.4 10.7 11.8 14.4 3.1 4.4 7.1 6.8 7.7 11.3 Domestic tourists, overnight stays 3.3 5.0 -0.1 6.5 3.3 6.4 -2.9 3.2 -1.8 2.4 4.4 -3.8 -4.2 15.2 0.3 3.5 Foreign tourists, overnight stays 11.5 16.1 15.4 26.0 16.6 9.8 6.4 14.0 16.7 21.7 2.2 7.5 11.7 2.9 13.6 16.9 Accommodation and food service activities 11.0 8.9 7.1 11.7 9.2 6.4 6.5 6.7 8.0 6.6 10.1 7.5 4.3 6.5 7.2 5.7 AGRICULTURE Purchase of agricultural products, n EUR m 465.7 518.7 524.8 119.8 135.2 155.0 110.9 122.0 140.9 151.0 118.5 127.0 47.1 57.6 48.4 49.0 BUSSINES TENDENCY (indicator values**) Sentiment indicator 5.5 12.5 11.9 11.3 12.1 15.7 14.0 12.9 9.8 10.8 9.9 6.6 12.6 15.4 16.1 15.7 Confidence indicator in manufacturing 6 10 8 8 9 13 12 9 4 8 4 0 10 12 13 13 in construction -10 12 22 10 18 18 24 25 25 24 24 21 23 27 29 28 in services 19 25 25 25 24 28 22 25 21 19 17 12 18 23 13 20 in retail trade 19 21 14 18 22 26 18 12 13 13 22 20 24 27 30 21 consumer confidence indicator -14 -4 -2 -5 -4 0 0 1 -5 -6 -5 -6 -3 0 -1 1 Source: SURS. Opombe: 1 Only companies with activity of electricity supply are included. 2The survey covers all larger construction enterprises and some other enterprises that perform construction work. *Total real turnover in retail trade, the sale and repair of motor wehicles, and retail sale of automotive fuels. **Seasonally adjusted data. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 23 2018 2019 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11.9 8.1 4.3 10.0 6.4 1.2 8.1 5.3 -2.1 7.2 2.7 -3.1 5.7 3.5 0.5 11.2 3.4 -2.2 7.7 -1.1 - - -7.2 -18.8 -23.6 6.2 6.5 7.1 4.8 15.3 0.3 19.1 -7.0 -15.9 -7.5 13.4 22.1 5.6 -0.7 -8.3 -7.2 -15.0 - - 13.7 8.7 4.5 10.8 6.9 1.1 8.7 5.6 -2.1 7.7 2.7 -2.5 5.4 4.2 1.0 12.4 3.5 -2.4 8.8 -0.5 - - -0.9 5.8 7.8 0.8 0.3 0.9 1.5 2.0 -2.2 -0.4 3.6 -5.9 10.2 -4.3 -8.2 -1.0 2.0 3.2 -1.2 -6.0 - - 77.2 6.6 -2.0 12.7 30.7 9.8 25.8 34.0 26.9 18.5 19.5 4.3 2.9 39.0 29.1 9.7 11.2 5.1 -0.2 -7.5 - - 65.5 19.7 3.9 13.1 29.3 8.5 27.7 29.6 28.5 7.0 6.4 -7.5 -4.0 44.9 20.7 6.7 5.7 5.3 -14.9 2.3 - - 79.4 -1.0 -5.5 12.5 31.5 11.2 25.1 36.5 26.8 23.6 25.4 9.6 5.8 32.9 32.7 11.0 13.8 5.5 7.2 -11.5 - - 11.2 5.3 5.7 9.9 8.4 7.3 9.0 10.0 7.3 11.6 7.7 5.7 7.0 10.3 5.3 9.9 4.2 2.3 9.2 3.8 - - 13.5 6.3 6.5 11.8 8.0 10.7 12.3 8.7 7.8 13.8 9.3 3.6 8.7 12.6 4.5 12.9 5.1 0.4 8.6 2.2 - - 5.2 4.7 8.1 2.2 2.6 -1.6 7.0 4.2 1.6 6.1 3.5 4.3 8.2 3.8 2.6 8.2 7.5 1.9 2.3 3.8 - - 15.5 9.5 8.5 23.0 19.4 13.8 11.5 24.1 14.7 22.0 16.7 14.2 8.0 13.4 12.2 8.3 -1.8 2.8 24.9 7.6 - - 12.7 9.6 4.1 8.7 13.6 11.3 8.1 11.4 4.3 4.7 -2.73 3.99 0.85 4.01 2.60 7.05 3.5 3.3 6.5 2.7 - - 5.7 2.5 3.6 8.3 8.9 6.4 10.9 7.6 6.5 16.0 9.2 9.9 10.5 14.6 6.4 12.0 4.5 0.7 8.1 1.5 - - -1.0 -2.2 0.3 -0.3 4.8 2.9 3.0 4.3 5.2 15.9 8.9 11.0 9.8 12.9 5.2 14.7 4.7 1.4 7.5 3.1 - - 14.2 12.0 11.1 19.2 16.8 12.0 27.4 18.5 2.3 5.3 3.1 1.4 9.8 13.0 5.3 6.7 5.4 -4.1 0.1 -10.3 - - 7.2 2.3 3.1 10.8 8.8 7.1 11.8 7.0 8.9 20.1 11.8 11.9 11.5 16.5 7.7 12.4 3.8 2.1 11.8 4.3 - - 6.0 -0.7 2.0 5.4 20.2 7.6 11.5 10.3 15.4 13.1 17.0 13.9 -2.1 10.7 0.9 8.6 -4.4 8.5 0.9 1.2 - - 11.1 -3.9 -12.2 7.5 0.5 2.2 -3.4 -2.4 2.1 -1.3 5.5 3.8 -8.8 12.7 6.9 -14.4 4.0 -1.6 -7.6 -2.7 - - 3.2 2.5 13.0 4.5 28.4 9.9 17.1 14.6 20.1 20.8 24.9 20.2 2.0 8.8 -2.7 19.2 -7.2 12.5 3.6 2.3 - - 10.8 3.7 5.2 6.7 8.5 5.2 6.3 8.4 9.6 5.3 7.9 6.9 5.0 15.8 10.0 7.7 4.4 10.2 6.5 7.5 - - 37.2 34.0 39.7 39.6 41.5 40.9 42.9 42.2 55.8 59.3 45.3 46.4 39.8 36.7 42.0 42.9 42.8 41.3 52.3 42.1 - - 15.8 14.2 12.0 13.2 12.2 13.4 10.5 10.6 8.2 11.5 9.9 10.9 12.1 8.9 8.8 6.7 7.7 5.4 6.8 6.0 4.7 4.0 13 13 10 9 8 9 5 6 2 10 7 6 7 2 3 0 3 -3 0 0 -1 -1 24 24 23 25 26 24 24 25 25 24 23 26 25 25 23 23 20 20 21 19 20 20 22 22 23 25 25 26 23 21 17 19 23 16 17 17 16 12 12 13 9 9 9 5 32 18 5 12 2 23 11 11 16 18 9 13 27 16 24 14 26 19 18 24 20 19 2 0 -1 1 0 1 -2 -4 -9 -7 -6 -4 -3 -5 -6 -7 -6 -5 -5 -7 -11 -13 24 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Labour market 2016 2017 2018 2017 2018 2019 2017 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 8 9 10 11 FORMAL LABOUR FORCE (A=B+E) 920.4 934.1 951.2 934.3 932.5 942.0 943.1 948.8 949.2 963.9 965.3 967.8 931.7 934.2 941.4 943.4 PERSONS IN FORMAL EMPLOYMENT (B=C+D)' 817.2 845.5 872.8 846.5 849.3 858.5 858.1 872.0 874.0 886.9 885.3 895.5 847.9 853.2 858.4 861.0 In agriculture, forestry, fishing 23.1 25.0 26.3 27.3 25.2 25.2 24.7 27.2 25.2 27.9 25.6 25.4 25.2 25.2 25.3 25.3 In industry, construction 260.3 269.1 280.9 268.7 271.9 274.8 273.7 279.6 283.0 287.1 287.5 292.7 271.6 273.0 275.2 276.3 - in manufacturing 186.7 193.9 202.6 192.8 195.0 198.0 199.3 201.6 203.2 206.4 207.4 208.5 194.8 195.8 197.6 198.3 - in construction 53.9 55.7 58.4 56.3 57.2 57.2 54.9 58.1 59.8 60.7 60.4 64.2 57.1 57.5 58.0 58.4 In services 533.8 551.3 565.7 550.6 552.3 558.5 559.7 565.2 565.8 571.9 572.2 577.5 551.1 555.0 557.9 559.4 - in public administration 48.4 48.8 49.0 48.8 49.0 49.0 48.8 49.1 49.1 49.0 48.7 48.9 49.0 49.1 49.1 49.0 - in education, health-services and social work 127.7 131.6 135.0 131.4 130.8 133.5 134.3 135.0 133.9 136.7 137.0 137.8 130.0 132.4 133.2 133.7 FORMALLY EMPLOYED (C)1 730.5 755.3 780.2 754.3 758.9 767.4 767.5 778.9 782.5 792.0 792.7 803.0 757.5 762.5 767.3 769.7 In enterprises and organisations 680.2 704.3 729.3 702.6 707.3 716.2 718.1 727.7 730.9 740.3 741.6 749.7 705.9 710.9 715.5 718.1 By those self-employed 50.3 51.0 50.9 51.7 51.6 51.2 49.4 51.2 51.5 51.7 51.1 53.2 51.6 51.6 51.8 51.6 SELF-EMPLOYED AND FARMERS (D) 86.7 90.2 92.6 92.1 90.4 91.2 90.6 93.2 91.5 94.9 92.6 92.6 90.4 90.7 91.1 91.3 REGISTERED UNEMPLOYMENT (E) 103.2 88.6 78.5 87.8 83.2 83.5 84.9 76.7 75.3 77.0 80.0 72.2 83.8 81.0 83.0 82.4 Female 52.4 45.4 39.9 45.5 43.7 42.9 42.1 39.3 38.9 39.2 39.6 36.8 44.3 42.3 43.4 42.8 By age: 15 to 29 22.5 17.5 15.1 17.0 15.2 17.1 16.4 14.1 13.7 16.1 15.5 13.1 15.3 14.6 17.3 16.9 Aged over 50 36.5 34.3 31.5 34.3 33.2 32.7 33.8 31.7 30.5 29.9 31.5 29.6 33.3 32.7 32.4 32.4 Primary education or less 30.2 26.7 24.3 26.3 24.6 25.2 26.6 23.7 23.0 24.0 25.8 22.8 24.6 24.3 24.5 24.6 For more than 1 year 55.1 47.0 40.6 48.1 45.2 43.7 42.9 40.8 39.5 39.1 39.2 38.3 45.2 44.3 44.2 43.7 Those receiving benefits 23.1 21.5 20.0 19.5 19.8 20.2 24.4 18.7 18.3 18.5 23.5 17.4 20.0 19.4 19.0 19.2 RATE OF REGISTERED UNEMPLOYMENT, E/A, in % 11.2 9.5 8.3 9.4 8.9 CO 9 9.0 8.1 7.9 8.0 8.3 7.5 9.0 8.7 8.8 8.7 Male 10.2 8.5 7.5 8.3 7.8 7.9 8.4 7.3 7.0 7.2 7.7 6.7 7.8 7.6 7.8 7.7 Female 12.4 10.6 9.2 10.7 10.2 9.9 9.7 9.0 9.0 8.9 9.0 8.4 10.4 9.9 10.1 9.9 FLOWS OF FORMAL LABOUR FORCE -13.5 -14.6 -6.5 -10.4 -3.8 4.1 -3.8 -6.2 -1.2 4.8 -0.7 -1.9 -0.8 -2.9 2.0 -0.6 New unemployed first-job seekers 14.2 12.3 11.4 1.8 2.3 5.7 2.1 1.6 2.1 5.6 0.6 0.4 0.6 1.2 4.0 1.0 Redundancies 75.7 70.0 65.1 13.7 15.5 18.6 19.5 13.4 14.9 17.4 6.5 4.1 4.5 5.0 5.6 5.4 Registered unemployed who found employment 74.9 68.6 61.5 18.5 14.3 13.6 20.0 16.4 12.7 12.4 6.2 4.8 3.5 6.4 5.1 4.8 Other outflows from unemployment (net) 28.6 28.3 21.6 7.4 7.3 6.7 5.4 4.8 5.5 5.8 1.7 1.7 2.3 2.6 2.6 2.2 FIXED TERM WORK PERMITS FOR FOREIGNERS 19.2 18.0 24.0 17.2 18.4 19.4 21.0 23.6 24.2 27.0 29.6 32.3 18.5 18.8 18.6 19.8 As % of labour force 2.1 1.9 2.5 1.8 2.0 2.1 2.2 2.5 2.5 2.8 3.1 3.3 2.0 2.0 2.0 2.1 Sources: SURS, PDII, ESS. Notes: 1 In January 2005, the SORS adopted new methodology of obtaining data on persons in paid employment. The new source of data for employed and self-employed persons excluding farmers is the Statistical Register of Employment (SRE), while data on farmers are forecast using the ARIMA model based on quarterly figure for farmers from the Labour Force Survey. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 25 2017 2018 2019 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 941.3 942.3 942.5 944.4 947.9 949.0 949.6 947.7 948.4 951.7 961.9 964.1 965.7 964.0 965.4 966.5 967.2 968.1 968.0 965.6 964.7 856.2 854.4 856.8 863.2 869.3 872.3 874.6 871.6 872.4 877.9 885.7 888.0 887.2 881.2 884.7 890.0 893.2 896.1 897.2 893.8 893.2 25.1 24.7 24.5 24.9 27.2 27.2 27.2 25.3 25.2 25.2 27.9 27.9 27.9 25.5 25.5 25.7 25.4 25.4 25.4 23.8 23.8 272.9 272.0 272.7 276.4 278.3 279.6 281.1 281.8 282.7 284.5 286.5 287.3 287.5 285.5 287.0 290.0 292.0 292.9 293.2 292.9 292.4 198.1 198.4 199.0 200.4 200.9 201.6 202.4 202.5 203.1 204.1 205.6 206.3 207.4 206.9 207.3 207.8 208.5 208.5 208.5 207.6 207.4 55.3 54.2 54.2 56.3 57.4 58.1 58.8 59.4 59.7 60.4 60.9 61.0 60.3 58.9 59.9 62.3 63.5 64.3 64.7 65.2 65.0 558.2 557.7 559.5 561.9 563.9 565.5 566.3 564.6 564.6 568.2 571.3 572.7 571.8 570.2 572.2 574.4 575.8 577.9 578.7 577.1 577.0 48.8 48.7 48.8 48.9 49.0 49.2 49.2 49.0 49.1 49.1 49.0 49.1 48.9 48.7 48.8 48.8 48.6 49.1 49.0 49.0 49.0 133.7 134.0 134.2 134.6 134.9 135.0 135.1 133.3 133.1 135.4 136.3 136.9 136.8 136.5 137.0 137.4 137.7 137.9 137.8 136.5 136.3 765.1 763.8 766.3 772.3 776.2 779.0 781.4 780.3 781.0 786.1 790.9 792.9 792.3 788.7 792.1 797.3 800.7 803.5 804.6 802.7 802.0 715.1 714.8 717.3 722.2 725.3 727.8 730.0 728.8 729.6 734.4 738.9 740.8 741.2 738.3 741.3 745.2 747.8 750.3 751.2 749.4 748.7 50.0 49.0 49.0 50.1 50.9 51.2 51.4 51.5 51.4 51.7 52.1 52.1 51.1 50.4 50.7 52.1 53.0 53.3 53.4 53.4 53.3 91.1 90.6 90.5 90.9 93.1 93.2 93.2 91.3 91.5 91.8 94.8 95.1 94.9 92.5 92.6 92.7 92.5 92.6 92.6 91.0 91.2 85.1 87.9 85.7 81.2 78.6 76.7 75.0 76.1 75.9 73.8 76.2 76.1 78.5 82.8 80.8 76.5 74.0 72.0 70.7 71.9 71.5 42.5 43.1 42.1 41.0 40.2 39.3 38.4 39.4 39.5 37.9 39.3 39.1 39.1 40.4 39.7 38.6 37.7 36.7 36.1 37.1 37.1 17.0 17.2 16.4 15.5 14.7 14.0 13.4 13.8 13.8 13.5 16.3 15.9 15.9 16.2 15.7 14.5 13.7 13.1 12.6 12.8 12.6 33.2 34.5 34.0 32.8 32.2 31.7 31.1 31.0 30.6 29.9 29.7 29.6 30.5 32.3 31.7 30.6 30.0 29.6 29.3 29.3 29.1 26.4 27.7 27.0 25.2 24.2 23.7 23.2 23.1 23.0 23.0 23.3 23.6 25.1 26.8 26.2 24.4 23.4 22.8 22.3 22.3 22.1 43.3 43.7 42.9 42.2 41.5 41.0 40.1 39.9 39.6 39.1 39.3 39.2 39.0 39.7 39.1 38.7 38.4 38.4 38.0 38.0 37.8 22.2 25.7 24.6 23.0 19.3 18.6 18.1 18.0 18.9 17.9 17.0 18.2 20.5 24.8 23.8 21.8 17.3 17.7 17.1 17.5 18.4 9.0 9.3 9.1 8.6 8.3 8.1 7.9 8.0 8.0 7.8 7.9 7.9 8.1 8.6 8.4 7.9 7.6 7.4 7.3 7.4 7.4 8.3 8.8 8.5 7.9 7.5 7.3 7.1 7.1 7.1 6.9 7.1 7.0 7.5 8.1 7.8 7.2 6.9 6.7 6.5 6.6 6.5 9.9 10.0 9.7 9.5 9.2 9.0 8.8 9.1 9.1 8.8 9.0 8.9 8.9 9.2 9.0 8.8 8.6 8.4 8.2 8.5 8.5 2.6 2.9 -2.2 -4.5 -2.7 -1.9 -1.7 1.1 -0.1 -2.1 2.5 -0.1 2.4 4.3 -2.0 -4.2 -2.6 -2.0 -1.3 1.1 -0.3 0.7 0.9 0.6 0.6 0.6 0.6 0.5 0.4 0.5 1.1 4.1 1.0 0.6 0.8 0.5 0.6 0.4 0.4 0.4 0.4 0.3 7.6 10.3 4.6 4.6 4.7 4.5 4.2 6.0 4.2 4.6 5.5 5.2 6.7 10.6 4.6 4.5 4.5 4.1 3.8 5.8 3.9 3.7 6.2 5.6 8.2 6.5 5.3 4.6 3.6 3.2 5.9 4.8 4.4 3.3 5.3 5.6 7.6 5.9 4.7 3.8 3.3 2.9 1.9 2.2 1.7 1.5 1.4 1.6 1.8 1.8 1.7 2.0 2.3 1.9 1.6 1.8 1.6 1.7 1.6 1.7 1.6 1.8 1.6 19.8 20.2 21.1 21.8 22.5 23.6 24.6 23.3 24.2 25.1 26.2 27.1 27.9 28.6 29.5 30.6 31.6 32.3 32.9 33.5 34.1 2.1 2.1 2.2 2.3 2.4 2.5 2.6 2.5 2.5 2.6 2.7 2.8 2.9 3.0 3.1 3.2 3.3 3.3 3.4 3.5 3.5 26 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Wages in EUR 2016 2017 2018 2017 2018 2019 2018 1 Q2 18 1 Aug 19 Q2 1 Q3 1 Q4 Q1 1 Q2 1 Q3 1 Q4 Q1 Q2 GROSS WAGE PER EMPLOYEE, nominal in € y-o-y growth rates, % TOTAL 1,682 1,726 1,726 1.8 2.7 3.4 2.3 2.8 3.9 3.6 3.6 3.0 3.3 4.6 3.9 Private sector activities (A-N; R-S) 1,627 1,650 1,659 1.3 2.7 3.8 2.3 2.6 4.1 3.8 4.0 3.4 4.1 4.0 3.2 Public service activities (OPQ) 1,857 1,974 1,949 3.3 2.8 2.4 2.7 3.6 3.5 3.2 3.0 2.2 1.3 6.4 6.1 ndustry (B-E) 1,697 1,704 1,730 1.9 3.2 3.8 2.7 2.6 4.8 4.0 4.0 3.8 3.5 3.5 3.2 Trad. market services (GHI) 1,489 1,523 1,507 0.9 2.7 4.0 2.2 2.8 4.0 3.7 4.3 3.5 4.5 4.3 3.1 Other market services (J-N; R-S) 1,794 1,843 1,855 0.7 2.1 3.9 1.7 2.5 3.5 3.8 3.9 2.7 5.1 5.7 4.4 A Agriculture, forestry and fishing 1,381 1,398 1,403 -0.4 0.2 5.3 0.3 -1.2 1.5 1.1 5.6 6.0 7.8 5.4 3.0 B Mining and quarrying 2,239 2,159 2,178 2.7 1.2 7.6 3.2 0.5 -2.8 12.6 4.7 3.9 9.1 -3.0 -1.8 C Manufacturing 1,659 1,667 1,688 2.1 3.2 3.9 2.7 2.8 5.0 4.2 4.1 4.1 3.5 3.6 3.5 D Electricity, gas, steam and air conditioning supply 2,519 2,589 2,707 1.3 4.3 2.9 3.1 3.6 6.2 1.5 6.5 1.3 2.2 4.6 2.4 E Water supply sewerage, waste management and remediation activities 1,624 1,611 1,653 1.9 3.5 3.0 4.0 1.4 4.2 2.2 1.4 3.7 4.5 3.7 2.0 F Constrution 1,290 1,302 1,321 1.3 2.7 4.2 2.7 2.3 4.4 4.8 4.3 4.0 3.9 2.0 1.6 G Wholesale and retail trade, repair of motor vehicles and motorcycles 1,548 1,586 1,568 1.6 3.3 4.2 2.6 3.4 4.5 4.2 4.7 3.6 4.4 4.9 3.2 H Transportation and storage 1,542 1,558 1,528 -0.5 1.7 3.3 1.5 1.5 3.1 2.4 3.1 2.9 4.6 2.7 2.3 Accommodation and food service activities 1,170 1,222 1,235 1.4 2.8 4.9 2.9 3.3 3.8 4.4 5.2 4.9 5.1 5.2 4.6 J Information and communication 2,245 2,312 2,360 0.6 2.4 4.1 1.4 3.1 3.2 1.8 3.6 4.4 6.3 6.8 5.9 K Financial and insurance activities 2,480 2,529 2,427 1.5 3.2 4.8 2.4 2.8 5.3 6.3 5.8 2.1 4.8 6.0 2.8 L Real estate activities 1,530 1,589 1,582 0.7 1.8 0.9 2.7 2.5 0.6 1.1 0.1 0.2 2.3 3.7 5.8 M Professional, scientific and technical activities 1,883 1,918 1,984 0.7 3.9 4.2 3.4 4.9 5.8 5.7 4.2 2.8 4.1 4.3 4.1 N Administrative and support service activities 1,143 1,179 1,191 3.4 2.5 5.8 2.5 2.3 4.2 5.7 5.6 4.9 7.0 6.1 4.4 O Public administration and defence, compulsory social security 2,010 2,166 2,164 4.7 4.0 3.2 4.5 6.0 4.0 4.0 2.6 2.9 3.4 9.5 9.4 P Education 1,732 1,841 1,791 2.5 1.7 0.9 1.9 2.3 1.2 1.3 0.9 0.5 0.8 5.3 5.4 Q Human health and social work activities 1,877 1,974 1,956 3.1 3.1 3.4 2.2 3.2 5.9 4.6 5.6 3.5 0.1 5.0 4.1 R Arts, entertainment and recreation 1,706 1,766 1,754 2.7 1.7 1.7 1.6 3.1 0.1 1.0 2.4 0.5 2.8 5.1 2.7 S Other service activities 1,363 1,389 1,420 -0.8 0.9 1.2 1.5 1.3 1.7 1.3 0.1 1.3 2.3 4.5 3.2 Source: SURS, calculations by IMAD. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 27 2017 2018 2019 12 1 2 3 4 5 6 1 7 8 9 10 11 12 1 2 3 4 1 5 6 7 8 4.2 4.2 3.6 2.9 4.6 3.1 3.2 3.6 3.5 1.8 3.4 3.2 3.4 4.2 4.7 4.9 4.0 3.9 3.9 5.2 3.4 4.6 4.5 3.9 3.1 5.4 3.2 3.4 3.9 3.6 2.5 4.6 3.9 3.9 3.6 4.2 4.4 3.4 3.3 2.9 5.0 2.7 3.3 3.7 3.0 2.7 2.8 3.0 3.1 3.2 3.2 0.2 0.5 1.1 2.3 6.3 6.3 6.6 5.8 5.8 6.7 6.2 5.4 5.9 5.9 4.1 2.1 5.5 3.2 3.3 5.0 4.2 2.2 4.7 4.0 1.8 3.3 4.4 2.9 4.2 3.2 2.3 4.9 2.2 3.1 3.4 4.4 3.3 6.3 3.1 3.5 3.9 3.4 3.3 4.5 3.0 6.0 4.5 3.9 4.6 2.4 3.1 3.8 4.4 3.0 4.5 3.6 3.0 4.7 4.6 3.3 3.8 2.3 3.7 2.2 4.8 5.2 5.2 4.4 5.5 7.3 4.3 4.9 4.0 6.8 3.9 1.9 4.7 1.9 -2.9 6.9 5.7 4.3 6.8 4.1 7.0 8.5 7.5 7.4 6.0 5.4 4.8 3.8 2.7 2.6 5.4 2.3 -2.8 28.5 2.7 6.5 6.7 10.9 -2.8 4.0 5.5 2.2 8.3 7.3 11.8 -11.9 3.6 1.5 -2.0 -1.7 -1.8 5.8 -2.5 5.7 5.9 4.5 2.4 5.6 3.5 3.1 5.2 4.5 2.5 4.6 4.1 2.0 3.5 4.7 2.8 4.6 3.5 2.4 5.0 2.3 15.5 4.7 -0.5 0.6 5.0 0.7 14.0 3.1 1.9 -1.2 7.5 3.3 -3.2 4.2 2.7 6.9 4.1 1.4 2.0 5.2 3.9 3.3 2.3 4.6 -0.1 3.5 2.8 -1.9 4.9 3.7 2.6 5.4 4.8 3.4 6.2 2.4 2.3 0.6 2.7 2.9 5.2 2.2 4.5 6.6 5.8 2.2 6.8 3.5 2.7 5.1 2.6 4.2 4.8 3.7 3.2 1.0 2.1 3.0 2.2 1.0 1.6 3.1 2.3 5.3 4.0 5.0 3.7 7.3 3.7 3.0 4.0 3.4 3.4 4.3 4.3 4.6 5.0 4.5 5.3 2.0 3.4 4.1 4.4 3.9 -1.9 1.8 3.3 2.3 4.5 1.2 3.7 3.4 2.8 2.4 4.4 0.2 9.1 3.2 2.6 2.4 2.8 1.8 2.4 4.1 1.1 4.6 4.5 4.2 4.5 5.6 4.5 5.4 4.7 5.1 4.8 5.5 3.3 6.4 4.8 4.7 6.0 3.7 4.8 5.3 5.0 3.3 4.5 2.3 3.9 -0.6 5.0 3.3 2.7 5.5 5.5 2.2 8.1 3.8 7.1 5.0 6.4 8.8 5.9 6.0 5.9 4.3 3.3 4.5 4.4 -0.7 14.7 5.1 4.4 8.0 2.7 0.8 2.8 4.4 5.0 4.8 0.6 3.8 12.5 0.6 5.9 1.8 5.9 3.5 1.2 1.0 1.2 1.1 0.5 -1.0 0.8 1.0 -1.3 0.8 2.1 2.5 2.5 4.1 3.8 3.3 6.5 4.8 6.2 5.3 5.6 6.0 7.0 5.8 4.3 5.9 4.4 2.3 3.6 3.3 1.4 3.2 4.6 4.4 4.4 5.0 3.5 5.6 2.9 3.7 5.4 4.5 5.5 3.9 7.2 6.0 6.6 4.5 5.6 1.2 8.3 5.6 6.5 9.0 5.6 7.4 5.2 5.7 5.7 3.9 3.7 11.1 3.2 3.1 4.9 3.5 3.5 2.5 2.5 2.9 4.0 3.6 1.0 2.9 2.3 4.9 10.1 9.4 8.9 9.1 9.3 9.6 10.3 7.4 1.0 1.8 1.4 0.9 1.3 0.9 0.7 1.6 1.4 -1.3 0.5 0.5 1.2 5.0 5.2 5.8 5.6 5.3 5.4 5.1 5.0 6.3 4.9 4.7 4.3 4.9 5.8 6.2 4.5 4.9 1.1 -1.6 0.6 1.3 4.4 4.8 5.6 3.4 3.5 5.6 3.8 4.4 1.1 1.8 1.2 0.0 1.3 2.7 3.2 1.3 1.8 -1.5 2.1 1.3 4.9 4.1 5.0 6.3 -1.3 5.1 4.6 3.8 3.7 1.9 1.6 1.1 1.1 1.0 -0.8 0.1 1.6 2.2 0.0 2.0 2.5 2.4 4.4 5.0 4.1 2.1 3.1 4.4 4.2 3.9 28 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Prices and indicators of overall competitiveness 2016 2017 2018 2017 2018 2019 2017 2018 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10 11 12 1 CPI, y-o-y growth rates, % 0.5 1.7 1.4 1.2 1.3 1.3 1.9 1.9 1.9 1.3 1.6 2.0 1.0 1.2 1.7 1.5 Food, non-alcoholic beverages 1.7 2.9 0.6 1.6 2.4 3.0 3.5 2.6 1.7 0.4 1.1 2.5 1.7 2.7 2.9 2.9 Alcoholic beverages, tobacco 0.4 3.0 0.4 2.8 3.0 2.6 2.5 1.1 0.8 0.4 0.4 1.6 2.9 3.1 3.0 3.6 Clothing and footwear -2.9 1.3 0.3 2.4 -1.0 0.1 -1.6 -1.3 -0.2 0.7 0.5 3.6 -2.4 -1.8 1.3 0.1 Housing, water, electricity, gas -0.1 3.6 4.7 2.0 3.1 3.1 3.3 4.3 5.4 4.2 5.3 4.5 2.8 2.9 3.6 3.8 Furnishing, household equipm. 0.9 0.4 0.9 -0.5 0.2 0.2 1.5 0.6 0.9 0.9 1.0 1.9 0.5 -0.3 0.4 0.7 Medical, pharmaceutical produ. 0.8 0.2 1.3 0.0 0.3 1.0 1.7 1.3 1.1 1.7 2.0 1.3 0.5 0.3 0.2 0.5 Transport -0.1 1.6 -0.7 0.7 1.2 -0.2 0.8 1.9 0.6 -1.3 0.1 -1.3 0.8 1.1 1.6 0.0 Communications 2.9 -2.3 3.3 -0.8 -1.8 -1.6 0.2 0.8 2.0 3.0 0.0 -0.2 -1.7 -1.5 -2.3 -1.3 Recreation and culture 0.2 0.8 1.9 0.8 0.4 -0.6 1.8 1.2 2.5 2.4 1.3 2.1 0.4 0.0 0.8 -0.5 Education 0.3 3.7 1.7 0.5 3.8 3.9 4.1 4.4 1.8 2.2 3.5 4.2 3.8 3.8 3.7 4.0 Catering services 1.0 1.6 2.4 2.0 1.6 2.6 2.5 2.7 2.6 2.8 3.3 3.0 1.7 1.5 1.6 2.7 Miscellaneous goods & services 1.6 1.3 1.7 1.4 1.2 1.5 1.9 1.8 1.7 1.3 2.1 2.4 1.2 1.2 1.3 1.7 HICP 0.6 1.9 1.4 1.3 1.5 1.5 2.1 2.1 1.9 1.4 1.8 2.0 1.3 1.4 1.9 1.7 Core inflation (excluding fresh food and energy) 0.4 0.9 1.2 0.9 0.6 0.6 0.9 0.8 1.0 1.5 1.5 2.1 0.4 0.5 0.9 0.9 PRODUCER PRICE INDICES, y-o-y growth rates, % Total 0.5 2.2 1.4 2.3 2.3 2.2 2.1 2.4 1.6 1.1 0.9 0.3 2.3 2.5 2.2 2.2 Domestic market -0.2 1.8 1.2 1.5 1.9 2.1 2.0 2.2 1.4 1.5 2.1 1.9 1.8 2.1 1.8 1.8 Non-domestic market 1.2 2.6 1.6 3.1 2.7 2.2 2.2 2.6 1.8 0.9 -0.3 -1.4 2.8 2.8 2.6 2.7 Euro area 0.6 2.3 1.6 2.8 2.2 2.1 2.4 2.9 1.9 1.2 -0.3 -1.6 2.2 2.2 2.3 2.3 Non-euro area 2.3 3.6 1.7 3.9 4.0 2.5 1.6 2.1 1.7 0.0 -0.3 -0.7 4.1 4.2 3.6 3.6 Import price indices 2.7 1.6 1.7 2.4 2.4 0.5 2.4 4.3 2.8 1.4 0.2 -1.9 2.7 3.0 1.6 0.6 INDICATORS OF OVERALL COMPETITIVENESS1, y-o-y growth rates, % Effective exchange rate2, nominal 1.0 0.5 0.7 1.1 1.2 1.6 0.9 0.3 0.1 -0.5 -0.1 -0.3 1.1 1.1 1.3 1.4 Real (deflator HICP) 0.3 0.4 0.8 0.7 1.0 1.6 1.2 0.3 0.1 -0.7 -0.1 0.4 0.7 0.7 1.6 1.6 Real (deflator ULC) 1.0 0.1 0.9 1.6 0.6 2.1 1.2 -0.6 0.9 0.5 2.5 USD/EUR 1.1066 1.1293 1.1815 1.1744 1.1777 1.2294 1.1922 1.1631 1.1412 1.1357 1.1239 1.1116 1.1756 1.1738 1.1836 1.2200 Sources: SURS, ECB; calculations by IMAD. Notes: 1 Source for effective exchange rate series ECB; 2 Harmonised effective exchange rate - a group of 18 EU Member States and 18 euro area countries; an increase in value indicates appreciation of the national currency and vice versa. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 29 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 1.2 1.2 1.5 2.0 2.1 1.9 1.8 2 2.2 2 1.4 1.1 1.2 1.6 1.7 1.4 1.8 2 2.3 1.7 1.4 2.4 3.6 3.7 3.4 3.3 2.5 2.8 2.5 2.7 1.9 0.6 0.8 0.4 0.1 0.5 0.7 2.2 2.9 2.9 1.7 1.5 2.1 2.2 2.2 2.7 2.5 1.2 0.9 1.1 1.2 0.9 0.4 0.8 0.3 0.1 0.2 -0.2 1.1 1.6 1.7 1.6 1.4 1.5 -1.2 -1.7 -1.4 -1.8 -1.8 -1.1 -1 0.1 -1 0.3 0.5 -0.5 2.1 -0.2 0.1 1.5 3.2 5.2 2.3 0.6 2.9 2.5 3.2 3.3 3.4 4 3.8 5.2 5.9 5.5 4.7 3.5 3.9 5.1 5.1 5.6 5.2 4.8 4.9 3.9 2.9 -0.2 0.2 1.6 1.4 1.4 0.4 0.3 1 0.4 1.4 0.9 0.5 1.5 0.7 0.9 0.5 1.5 2.2 2.7 0.7 1.3 0.6 2.0 1.9 1.7 1.4 1.6 1.5 0.9 0.8 1.3 1.3 1.6 1.5 2 1.9 2.1 2.1 1.2 1.4 1.4 1.7 0.2 -0.7 -0.3 0.5 2.2 2.1 1.9 1.6 1.5 1 -0.7 -2 -1.6 -0.2 0.8 0.3 -0.9 -1.3 -0.7 -2 -0.9 -2.5 -1.0 -1.5 1.5 0.6 0.2 0.8 1.3 1.4 1.2 3.3 2.1 3.9 3.1 1.7 -0.9 -0.7 -0.5 -1.2 1.1 0.5 -0.3 -1.0 1.1 2.8 1.6 1.4 1 1.2 2.6 3 1.9 2.7 2.5 1.9 2 0.7 1.3 2 2.1 2.2 0.8 3.9 3.9 3.9 4.1 4.4 4.4 4.4 4.5 1.8 1.8 1.7 1.6 2.5 2.6 3.1 3.8 3.5 3.5 3.5 5.6 5.5 2.5 2.5 2.4 2.6 2.6 2.6 2.5 3.1 2.6 2.7 2.4 3.1 2.7 2.6 3.2 3 3.6 2.9 3.3 2.8 2.9 1.4 1.4 1.5 2.0 2.1 2.3 1.6 1.6 1.5 1.9 1.7 0.8 1.2 2 2.5 1.9 1.8 1.8 2 3.5 3.4 1.4 1.5 1.9 2.2 2.3 2.1 2 2.2 2.3 2.1 1.4 1.2 1.3 1.6 1.8 1.6 1.9 2 2.4 1.7 1.5 0.5 0.4 0.5 1.2 0.9 0.8 0.7 0.9 1 1 1.2 1.3 1.4 1.7 1.7 1.2 1.7 1.9 2.3 2.1 2018 2019 2.1 2.2 2.0 1.9 2.3 2.4 2.5 2.2 1.9 1.6 1.4 1.1 1.2 1.1 1.2 1 0.5 0.2 0.2 0.4 2.1 2.5 2.1 1.7 2.2 2.2 2.3 2.0 1.7 1.4 1.2 1.2 1.6 1.6 2 2.2 2 1.8 1.9 2.1 2.0 1.9 1.9 2.2 2.6 2.6 2.8 2.5 2.1 1.8 1.6 1.1 0.8 0.7 0.3 -0.3 -0.9 -1.3 -1.5 -1.3 2.1 1.9 2.2 2.4 2.7 2.9 2.9 2.8 2.3 1.8 1.6 1.5 1.1 1 0.3 -0.3 -0.9 -1.6 -1.8 -1.5 2.0 2.1 1.0 1.7 2.1 2.0 2.4 2.0 1.6 1.7 1.7 0.1 0.1 -0.2 0.3 -0.4 -0.9 -0.5 -0.8 -0.8 0.4 0.4 1.1 2.1 3.8 4.0 4.4 4.4 4.1 2.6 1.7 1.6 1.3 1.4 1.2 0.5 -1.2 -1.3 -2.2 -2.2 1.8 1.7 1.6 0.7 0.5 0.6 0.1 0.2 0.2 0.1 0.0 -0.3 -0.5 -0.7 -0.6 0.2 0.2 -0.5 0.0 -0.4 1.7 1.6 1.9 0.9 0.7 0.6 0.0 0.3 0.2 0.2 -0.2 -0.5 -0.8 -0.9 -0.6 0.0 0.4 -0.1 0.8 0.5 1.2348 1.2336 1.2276 1.1812 1.1678 1.1686 1.1549 1.1659 1.1484 1.1367 1.1384 1.1416 1.1351 1.1302 1.1238 1.1185 1.1293 1.1218 1.1126 1.1004 30 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Balance of payments 2016 2017 2018 2017 2018 2019 2017 Q2 | Q3 | Q4 Q1 | Q2 | Q3 | Q4 Q1 Q2 8 | 9 | 10 | 11 BALANCE OF PAYMENTS, BPM6 methodology, EUR m Current account 1,942 2,635 2,593 542 892 571 693 699 800 401 641 614 176 450 421 23 Goods 1,536 1,579 1,128 421 479 317 328 427 371 2 382 187 32 274 240 56 Exports 24,991 28,478 31,133 7,131 7,035 7,443 7,537 7,932 7,605 8,059 8,273 8,696 2,075 2,612 2,644 2,581 Imports 23,454 26,899 30,005 6,711 6,556 7,126 7,209 7,506 7,234 8,056 7,892 8,509 2,044 2,338 2,404 2,525 Services 1,925 2,241 2,678 580 684 508 531 642 803 702 595 758 261 234 245 109 Exports 6,501 7,288 7,963 1,758 2,121 1,874 1,651 1,918 2,286 2,109 1,790 2,095 741 675 651 554 Imports 4,575 5,047 5,285 1,179 1,437 1,366 1,120 1,276 1,483 1,407 1,195 1,337 481 440 406 445 Primary income -1,139 -886 -807 -367 -204 -208 -28 -296 -254 -228 -121 -232 -96 -49 -47 -121 Receipts 1,259 1,374 1,592 359 299 353 421 438 320 413 418 399 84 108 106 112 Expenditures 2,398 2,260 2,399 727 503 561 449 734 574 642 539 632 180 156 154 232 Secondary income -381 -299 -406 -91 -67 -46 -138 -73 -120 -75 -215 -98 -20 -10 -17 -21 Receipts 713 828 789 200 205 239 175 201 172 241 182 185 66 75 76 74 Expenditures 1,094 1,127 1,196 291 272 285 314 274 292 316 397 283 86 85 92 95 Capital account -303 -324 -225 -65 -59 -59 -41 -35 -28 -120 -21 -24 91 -9 31 -5 Financial account 1,187 2,088 2,527 686 729 40 915 701 699 213 610 403 225 376 319 -67 Direct investment -864 -495 -933 51 -100 -256 -25 -226 -465 -217 -438 -132 -25 -143 97 -174 Assets 434 570 362 263 107 23 259 -10 18 94 415 -86 -118 136 171 -102 Liabilities 1,298 1,065 1,295 212 206 279 284 216 483 311 853 46 -92 279 74 71 Portfolio investment 5,023 2,987 750 561 666 2,064 -1,290 1,559 996 -515 548 -76 258 4 1,057 412 Financial derivatives -270 -185 -86 -115 -24 18 2 -76 24 -36 -184 5 -5 -8 7 5 Other investment -2,606 -308 2,743 157 162 -1,774 2,239 -534 73 965 662 561 -17 522 -855 -274 Assets -2,221 -1,381 2,031 -226 -1,092 -139 814 374 -371 1,214 705 1,413 -286 -389 -141 25 Other equity 35 72 68 34 15 -8 42 35 16 -25 45 15 5 5 -9 -9 Currency and deposits -2,132 -2,076 1,590 -388 -1,259 132 227 137 -286 1,512 33 1,143 -144 -671 -239 46 Loans -203 -115 207 6 -38 -34 -6 91 50 72 51 324 -17 -13 14 -17 Insurance, pension schemes, and standardised guarantee schemes 10 5 -7 -1 3 0 1 1 -1 -8 8 1 1 1 0 0 Trade credit and advances 167 615 303 171 115 -197 463 105 54 -318 564 -59 -172 262 115 9 Other assets -97 118 -130 -49 73 -31 87 5 -205 -18 4 -9 42 27 -23 -4 Liabilities 385 -1,073 -713 -383 -1,255 1,635 -1,426 908 -444 249 43 852 -269 -910 714 299 Other equity 4 20 2 20 0 0 0 0 0 2 0 -1 0 0 0 0 Currency and deposits 1,128 365 -524 14 -430 1,679 -1,318 187 242 365 110 425 69 -669 707 243 Loans -818 -1,853 -490 -507 -695 -262 -237 131 -85 -299 -105 154 -300 -227 -115 -127 Insurance, pension schemes, and standardised guarantee schemes -8 5 20 -8 2 -8 27 21 -14 -14 40 13 1 1 -3 -3 Trade credit and advances 137 411 331 53 -56 224 112 243 -201 179 2 115 -95 89 151 135 Other liabilities -57 -21 -52 45 -76 2 -10 327 -385 16 -4 145 57 -104 -25 51 Special drawing rights (SDR) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve assets -97 89 52 33 25 -12 -12 -22 70 16 21 44 14 2 14 -36 Net errors and omissions -452 -223 158 209 -104 -473 263 37 -73 -68 -10 -187 -43 -64 -134 -85 EXPORTS AND IMPORTS BY END-USE OF PRODUCTS, in EUR million Export of investment goods 2,781 3,201 3,557 791 786 877 831 892 853 980 924 945 220 300 311 284 Intermediate goods 13,731 15,335 16,674 3,864 3,746 3,898 4,086 4,207 4,103 4,274 4,322 4,398 1,118 1,367 1,389 1,403 Consumer goods 8,459 9,730 10,639 2,431 2,444 2,594 2,623 2,775 2,534 2,701 2,989 3,225 706 928 907 876 mport of investment goods 3,292 3,660 4,208 892 858 1,066 1,016 1,023 1,028 1,171 1,042 1,097 274 308 345 364 Intermediate goods 13,792 16,185 17,913 4,021 3,943 4,262 4,307 4,549 4,297 4,716 4,626 4,784 1,231 1,385 1,439 1,525 Consumer goods 7,028 7,761 8,585 1,968 1,919 1,977 2,076 2,127 2,058 2,340 2,424 2,816 599 687 683 701 Sources: BS, SURS. Note: The methodology of the Slovenian balance of payments and international investment position statistics follows the recommendations in the sixth edition of the Balance of Payments and International Investment Position Manual released by the International Monetary Fund. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 31 2017 2018 2019 12 1 2 3 4 5 6 | 7 8 9 10 11 12 1 2 3 4 1 5 6 7 8 127 236 158 299 252 182 265 280 212 307 217 183 1 277 138 226 -6 383 237 193 273 21 74 67 188 164 64 199 196 75 101 6 91 -95 119 149 114 -232 213 206 41 86 2,218 2,387 2,365 2,785 2,507 2,679 2,746 2,738 2,245 2,623 2,906 2,859 2,293 2,690 2,677 2,907 2,861 2,991 2,844 3,026 2,348 2,197 2,314 2,298 2,597 2,343 2,616 2,547 2,542 2,170 2,522 2,899 2,768 2,388 2,571 2,527 2,793 3,093 2,778 2,638 2,985 2,262 154 188 146 197 219 208 216 263 261 279 288 226 188 209 170 216 304 228 226 279 301 669 541 503 607 645 619 654 786 777 723 739 650 720 565 575 650 742 657 697 850 816 515 353 356 410 426 411 439 522 516 444 451 424 532 356 405 434 437 429 471 572 515 -40 3 9 -40 -93 -62 -141 -131 -79 -44 -45 -98 -85 19 -78 -62 -53 -32 -147 -74 -77 135 152 151 117 130 145 164 112 96 112 116 110 188 204 95 119 123 151 125 111 102 175 149 143 157 223 206 305 244 175 155 161 208 273 185 173 181 176 184 272 185 178 -8 -28 -63 -47 -38 -27 -8 -47 -45 -28 -32 -35 -7 -70 -103 -42 -25 -26 -48 -52 -37 89 58 56 61 67 60 73 59 53 60 81 65 96 58 66 58 70 59 55 66 61 98 86 119 108 105 87 81 106 97 89 113 100 103 128 169 100 95 85 103 118 98 -85 -12 -15 -15 -9 -8 -18 -24 7 -11 2 -7 -115 -15 -17 11 -7 -1 -17 -8 -10 -212 584 384 -54 217 536 -53 313 77 309 334 251 -372 447 365 -202 143 290 -30 518 -303 -180 32 -52 -4 -57 20 -189 -226 -147 -91 112 -89 -240 3 -445 5 -109 -51 28 32 -72 -46 40 116 103 0 -48 38 108 -210 121 231 -20 -117 73 172 170 -31 39 -94 95 -95 134 8 168 107 57 -68 227 334 -63 212 119 69 123 71 618 165 78 90 -122 63 -23 595 -1,456 321 -156 320 1,281 -42 233 455 308 90 -687 82 -1,506 2,166 -112 179 44 -300 -293 -29 7 4 2 -4 -28 -26 -23 5 12 7 -11 -14 -11 -62 -56 -66 3 -2 5 8 0 -645 2,008 147 84 -11 -741 218 296 -260 38 131 1,031 -196 1,985 -1,268 -55 45 292 224 809 -214 -22 353 95 366 -101 71 404 -61 -411 101 285 1,038 -108 1,766 -1,298 238 196 744 474 825 67 10 14 14 14 12 11 11 5 6 5 -8 -8 -9 4 37 5 5 5 5 3 5 325 217 -211 221 30 4 103 -63 -30 -193 131 1,005 376 1,305 -1,449 177 205 570 367 912 204 -32 2 14 -22 8 28 55 5 -17 62 38 7 27 32 14 5 12 133 179 -5 29 0 0 0 0 0 0 0 0 0 0 -3 -3 -3 3 3 3 0 0 0 0 0 -321 68 138 257 -46 -17 168 24 -196 226 93 25 -436 174 194 195 17 -33 -44 -79 -184 -5 51 140 -104 -106 45 67 -32 -174 1 34 13 -65 249 -97 -148 -44 68 -33 -6 14 622 -1,655 -52 282 -90 811 186 -356 -151 64 154 6 88 -219 -30 293 150 452 249 16 281 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 -1 0 0 0 0 729 -1,365 -149 196 -78 365 -100 65 131 46 121 5 239 -70 105 75 124 149 152 75 218 -19 -160 -18 -59 32 84 15 0 -55 -31 -51 -3 -245 12 -186 69 57 72 25 151 176 -3 9 9 9 7 7 7 -5 -5 -5 -5 -5 -5 13 13 13 4 4 4 0 0 -62 -184 70 226 -13 -5 260 -53 -227 78 67 52 60 -288 151 139 -70 152 33 -174 -108 -23 45 36 -90 -38 361 4 -364 4 -25 22 -43 37 114 -114 -4 36 74 35 -36 -5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 -4 -34 26 -6 1 -17 6 18 47 13 10 -7 27 -33 27 25 7 12 -37 11 -254 360 240 -338 -26 362 -299 57 -142 12 115 74 -258 185 244 -439 156 -93 -250 333 -567 282 242 270 319 278 308 306 305 252 296 319 332 328 288 309 327 310 322 313 337 N/A 1,106 1,311 1,306 1,469 1,337 1,419 1,452 1,454 1,228 1,421 1,609 1,536 1,129 1,423 1,395 1,504 1,490 1,496 1,412 1,559 N/A 811 824 807 992 872 937 965 948 730 856 947 956 798 982 959 1,048 1,024 1,135 1,066 1,131 N/A 357 356 304 356 315 367 341 351 298 379 376 405 390 337 321 384 366 371 360 376 N/A 1,298 1,379 1,379 1,549 1,397 1,596 1,556 1,529 1,241 1,527 1,755 1,646 1,314 1,493 1,506 1,627 1,732 1,618 1,434 1,659 N/A 593 643 674 759 691 729 707 718 663 678 826 786 728 807 771 847 1,065 852 900 1,021 N/A 32 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Monetary indicators and interest rates 2016 2017 2018 2017 2018 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 1 | 2 | 3 SELECTED CLAIMS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million Claims of the BoS on central government 4,618 6,247 6,290 5,041 5,173 5,297 5,485 5,600 5,781 6,041 6,247 6,290 6,273 6,471 Central government (S.1311) 6,273 5,170 5,154 5,784 5,699 5,524 5,489 5,491 5,136 5,114 5,170 5,154 5,099 4,927 Other government (S.1312,1313,1314) 576 571 576 581 573 572 563 559 556 550 571 576 571 563 Households (S.14, 15) 9,154 9,733 9,765 9,413 9,447 9,476 9,541 9,604 9,660 9,699 9,733 9,765 9,778 9,860 Non-financial corporations (S.11) 9,664 9,644 9,682 9,745 9,800 9,824 9,828 9,816 9,780 9,716 9,644 9,682 9,687 9,598 Non-monetary financial nstitutions (S.123, 124, 125) 1,411 1,566 1,627 1,248 1,254 1,247 1,241 1,545 1,558 1,548 1,566 1,627 1,621 1,528 Monetary financial institutions (S.121, 122) 3,541 3,886 3,682 3,860 3,550 3,635 3,625 3,440 3,705 3,824 3,886 3,682 3,798 3,884 Claims on domestic sectors, TOTAL n domestic currency 23,969 25,496 25,363 24,492 24,313 24,338 24,377 24,478 24,840 24,940 25,496 25,363 25,448 25,461 n foreign currency 672 528 545 630 624 597 596 571 567 554 528 545 535 529 Securities, total 5,889 4,450 4,487 5,412 5,291 5,254 5,224 5,308 4,887 4,858 4,450 4,487 4,474 4,266 SELECTED OBLIGATIONS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million Deposits in domestic currency, total 26,497 28,021 28,115 27,177 27,037 27,148 27,289 27,403 27,541 27,770 28,021 28,115 28,191 28,201 Overnight 15,081 17,331 17,476 16,019 16,021 16,377 16,515 16,792 16,825 17,075 17,331 17,476 17,601 17,727 With agreed maturity - short-term 3,955 3,398 3,294 3,472 3,426 3,261 3,292 3,290 3,303 3,257 3,398 3,294 3,287 3,260 With agreed maturity - long-term 6,829 6,734 6,679 6,969 6,901 6,821 6,763 6,661 6,708 6,718 6,734 6,679 6,664 6,566 Short-term deposits redeemable at notice 632 558 666 717 689 689 719 660 705 720 558 666 639 648 Deposits in foreign currency, total 687 636 638 684 699 699 694 656 658 664 636 638 641 660 Overnight 564 547 542 557 582 582 573 551 542 549 547 542 540 552 With agreed maturity - short-term 65 45 53 74 67 69 74 58 69 69 45 53 58 66 With agreed maturity - long-term 58 44 43 53 50 48 47 47 47 46 44 43 43 42 Short-term deposits redeemable at notice 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST RATES OF MONETARY FINANCIAL INSTITUTIONS, % New deposits in domestic currency Households Overnight deposits 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 Time deposits with maturity of up to one year 0.21 0.13 0.16 0.10 0.11 0.11 0.11 0.14 0.13 0.13 0.14 0.14 0.15 0.16 New loans to households in domestic currency Housing loans, 5-10 year fixed nterest rate 2.66 2.63 2.65 2.53 2.63 2.72 2.72 2.68 2.64 2.51 2.65 2.60 2.57 2.56 New loans to non-financial corporations in domestic currency Loan over EUR 1 million, 1-5 year fixed interest rate 2.07 1.53 2.02 1.60 1.17 0.75 1.15 1.56 0.8 1.15 1.06 1.78 2.02 INTEREST RATES OF THE EUROPEAN CENTRAL BANK, v % Main refinancing operations 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INTERBANK INTEREST RATES EURIBOR 3-month rates -0.264 -0.329 -0.321 -0.330 -0.330 -0.330 -0.329 -0.329 -0.330 -0.329 -0.328 -0.329 -0.329 -0.328 6-month rates -0.164 -0.260 -0.266 -0.251 -0.267 -0.273 -0.272 -0.273 -0.274 -0.274 -0.271 -0.274 -0.275 -0.271 LIBOR 3-month rates -0.747 -0.732 -0.735 -0.729 -0.730 -0.728 -0.726 -0.726 -0.726 -0.745 -0.755 -0.740 -0.745 -0.740 6-month rates -0.671 -0.658 -0.653 -0.661 -0.663 -0.651 -0.651 -0.650 -0.649 -0.653 -0.653 -0.644 -0.662 -0.657 Sources: BoS, EUROSTAT. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 33 2018 2019 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 6,524 6,600 6,791 6,915 7,042 7,041 7,059 7,088 7,165 7,256 7,023 7,152 7,219 7,327 7,606 7,631 7,913 7,791 4,859 4,904 4,912 4,870 4,877 4,831 4,905 4,939 4,937 4,980 4,805 4,819 4,944 5,089 5,058 5,070 5,007 5,037 568 565 564 560 562 554 559 558 580 588 587 583 577 581 577 570 567 574 9,905 9,996 10,033 10,075 10,161 10,231 10,296 10,339 10,370 10,397 10,426 10,507 10,570 10,628 10,642 10,703 10,781 10,833 9,628 9,582 9,627 9,648 9,647 9,647 9,656 9,628 9,496 9,665 9,676 9,681 9,637 9,571 9,749 9,738 9,878 9,868 1,547 1,616 1,611 1,605 1,592 1,593 1,497 1,503 1,502 1,503 1,490 1,486 1,484 1,482 1,496 1,503 1,493 1,486 3,955 3,800 3,954 4,269 4,186 4,060 3,614 3,904 4,275 4,247 4,380 4,207 3,963 4,099 4,001 4,335 4,067 3,894 25,580 25,444 25,584 25,959 26,051 25,973 25,600 25,921 26,181 26,367 26,516 26,385 26,138 26,329 26,381 26,725 26,651 26,509 498 518 533 489 491 485 467 451 446 435 432 434 420 422 419 416 420 412 4,266 4,399 4,481 4,477 4,381 4,356 4,354 4,393 4,429 4,475 4,397 4,433 4,580 4,659 4,685 4,727 4,666 4,704 28,253 28,453 28,499 28,888 28,940 28,943 29,065 29,227 29,442 29,468 29,903 29,916 29,994 30,177 30,260 30,709 30,733 30,585 17,889 18,084 18,260 18,664 18,752 18,740 18,786 19,014 19,440 19,389 19,615 19,717 19,830 20,009 20,099 20,474 20,521 20,676 3,232 3,184 3,160 3,147 3,214 3,280 3,333 3,299 3,261 3,212 3,353 3,320 3,316 3,343 3,342 3,408 3,423 3,340 6,550 6,497 6,419 6,414 6,349 6,275 6,276 6,228 6,166 6,210 6,175 6,127 6,047 6,042 6,054 6,059 6,010 5,823 582 688 660 663 625 648 670 686 575 657 760 752 801 783 765 768 779 746 665 690 670 661 636 657 644 644 651 625 634 645 643 674 686 681 686 685 573 585 568 585 562 583 568 570 581 552 564 575 575 606 621 616 622 620 49 61 61 36 34 34 36 33 31 33 29 29 28 28 29 28 27 28 43 44 41 40 40 40 40 41 39 40 41 41 40 40 36 37 37 37 0 0 0 0 0 0 0 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.16 0.16 0.16 0.15 0.18 0.16 0.16 0.17 0.17 0.16 0.18 0.17 0.16 0.19 0.17 0.15 0.16 0.16 2.58 2.63 2.65 2.79 2.62 2.69 2.66 2.71 2.74 2.81 2.72 2.69 2.66 2.80 2.65 2.7 2.75 2.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.329 -0.325 -0.322 -0.321 -0.319 -0.319 -0.318 -0.316 -0.312 -0.308 -0.308 -0.309 -0.311 -0.312 -0.329 -0.365 -0.408 -0.418 -0.270 -0.270 -0.269 -0.269 -0.267 -0.268 -0.264 -0.257 -0.241 -0.236 -0.232 -0.230 -0.231 -0.237 -0.279 -0.347 -0.405 -0.394 -0.733 -0.726 -0.732 -0.725 -0.726 -0.731 -0.741 -0.745 -0.735 -0.704 -0.713 -0.707 -0.715 -0.713 -0.717 -0.751 -0.817 -0.812 -0.650 -0.647 -0.645 -0.647 -0.649 -0.652 -0.662 -0.667 -0.659 -0.639 -0.652 -0.648 -0.650 -0.656 -0.673 -0.719 -0.802 -0.771 34 Statistical Appendix Slovenian Economic Mirror, No 7/2019 Public finance 2016 2017 2018 2017 2018 2019 2017 2018 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10 1 11 1 12 1 CONSOLIDATED BALANCE OF PUBLIC FINANCING (GFS-IMF methodology), current prices GENERAL GOVERNMENT REVENUES, EUR m TOTAL REVENUES 15,842.2 16,803.3 18,593.0 4,026.9 4,372.9 4,170.8 4,712.5 4,607.9 5,101.9 4,518.5 4,944.0 4,671.5 1,443.3 1,404.1 1,525.5 1,465.5 Current revenues 15,203.9 16,251.4 17,575.5 3,927.5 4,212.6 3,994.9 4,525.9 4,251.7 4,803.1 4,271.9 4,730.5 4,477.6 1,426.3 1,356.0 1,430.3 1,431.0 Tax revenues 14,240.5 15,162.0 16,224.9 3,678.7 3,991.2 3,782.0 4,230.9 3,914.8 4,297.3 4,103.3 4,350.6 4,169.7 1,351.5 1,287.2 1,352.5 1,376.0 Taxes on income and profit 2,680.8 2,967.0 3,296.3 582.5 770.8 785.5 990.7 651.8 868.2 850.4 1,058.4 717.7 251.4 244.9 274.5 263.2 Social security contributions 5,720.6 6,092.1 6,549.8 1,510.5 1,598.2 1,592.8 1,619.6 1,622.4 1,715.0 1,710.3 1,734.9 1,745.5 509.4 514.6 574.1 542.8 Taxes on payroll and workforce 19.8 21.3 21.6 4.9 6.1 5.0 5.6 5.0 6.1 5.3 5.9 5.4 1.9 1.9 2.2 1.8 Taxes on property 256.2 274.2 277.7 100.1 75.9 28.1 65.0 106.7 77.9 26.3 67.6 120.9 38.2 22.3 15.4 12.2 Domestic taxes on goods and services 5,432.9 5,722.8 5,989.3 1,463.5 1,521.3 1,336.8 1,519.5 1,500.6 1,632.4 1,427.8 1,490.3 1,565.7 531.3 516.1 473.9 516.9 Taxes on international trade & transactions 81.9 83.3 89.8 21.7 19.9 22.6 21.4 22.7 23.2 25.5 25.6 25.5 7.5 6.3 6.1 6.7 Other taxes 48.2 1.3 0.5 -4.4 -1.0 11.2 9.3 5.6 -25.6 57.8 -32.0 -11.1 11.8 -18.9 6.2 32.3 Non-tax revenues 963.4 1,089.4 1,350.6 248.8 221.4 212.9 295.0 336.9 505.8 168.5 380.0 307.9 74.8 68.8 77.8 55.0 Capital revenues 96.2 91.2 152.7 17.4 33.0 28.6 37.3 43.9 43.0 23.6 31.2 34.3 7.8 11.0 14.1 7.7 Grants 10.4 9.5 12.4 6.0 1.5 0.2 1.5 7.1 3.6 5.2 1.1 6.3 0.6 0.5 0.3 -0.7 Transferred revenues 51.1 52.3 55.6 50.0 1.1 0.4 0.5 51.4 3.3 1.8 3.1 50.3 0.9 0.0 0.2 0.1 Receipts from the EU budget 480.5 399.0 796.8 25.9 124.8 146.7 147.4 253.8 249.0 216.0 178.0 103.1 7.7 36.6 80.6 27.5 GENERAL GOVERNMENT EXPENDITURES, EUR m TOTAL EXPENDITURES 16,496.7 17,102.0 18,066.6 4,115.7 4,721.1 4,337.0 4,282.8 4,387.6 5,059.2 4,689.6 4,506.0 4,706.2 1,359.6 1,588.2 1,773.3 1,412.4 Current expenditures 7,407.1 7,733.0 7,966.9 1,782.3 2,103.4 2,027.9 1,919.2 1,877.2 2,142.5 2,116.1 2,010.6 2,007.8 586.0 772.6 744.8 651.8 Wages, salaries and other personnel expenditures 3,785.4 3,938.1 4,168.2 956.5 1,008.5 980.7 1,091.2 1,016.8 1,079.5 1,067.7 1,176.4 1,100.0 332.1 327.6 348.9 321.1 Expenditures on goods and services 2,371.4 2,626.6 2,633.2 586.2 886.0 552.0 642.6 640.6 798.0 602.3 669.5 675.6 209.3 350.4 326.3 176.1 Interest payments 1,074.2 985.3 867.9 206.5 116.2 462.5 145.7 190.3 69.5 404.2 122.7 175.7 33.5 77.7 4.9 147.5 Reserves 176.1 183.0 297.5 33.0 92.7 32.7 39.7 29.4 195.6 42.0 42.1 56.4 11.1 16.9 64.6 7.0 Current transfers 7,700.0 7,912.9 8,235.0 2,001.8 1,989.8 2,034.4 2,027.4 2,071.1 2,102.1 2,187.9 2,107.1 2,201.3 623.5 661.0 705.3 683.3 Subsidies 397.0 425.4 443.8 79.8 108.2 159.9 103.9 52.7 127.3 161.8 113.4 53.8 20.6 45.1 42.4 73.5 Current transfers to individuals and households 6,495.5 6,665.1 6,925.4 1,718.8 1,650.0 1,678.4 1,715.1 1,811.9 1,720.0 1,784.6 1,816.5 1,912.7 538.0 540.2 571.8 551.7 Current transfers to nonprofit institutions, other current domestic transfers 727.8 748.0 792.5 184.6 206.5 174.8 192.4 193.4 231.9 216.6 163.1 215.0 63.9 61.6 80.9 51.6 Current transfers abroad 79.7 74.3 73.4 18.7 25.2 21.3 16.0 13.1 22.9 25.0 14.1 19.8 0.9 14.1 10.2 6.5 Capital expenditures 784.3 891.0 1,158.6 208.1 428.5 111.2 197.5 292.4 557.6 156.1 240.7 315.3 87.2 103.8 237.5 30.4 Capital transfers 177.8 186.6 272.7 37.0 103.8 29.7 54.4 42.1 146.4 24.7 48.9 57.9 30.6 19.1 54.1 8.4 Payments to the EU budget 427.4 378.5 433.4 86.5 95.6 133.8 84.4 104.8 110.5 204.8 98.8 123.8 32.2 31.8 31.6 38.6 SURPLUS / DEFICIT -654.5 -298.7 526.4 -88.8 -348.2 -166.2 429.7 220.3 42.7 -171.1 438.0 -34.6 83.7 -184.1 -247.8 53.1 Source: Bulletin of Government Finance. Note: In line with the changed methodology of the International Monetary Fund of 2001, social security contributions paid by the general government are not consolidated. Slovenian Economic Mirror, No 7/2019 Statistical Appendix 35 2018 2019 2 3 4 5 6 1 7 1 8 9 10 11 12 1 2 3 4 1 5 | 6 7 8 9 1,322.9 1,382.4 1,717.1 1,418.4 1,577.0 1,461.6 1,682.9 1,463.3 1,790.8 1,542.8 1,768.2 1,547.5 1,401.3 1,569.8 1,702.7 1,622.5 1,618.9 1,461.5 1,556.0 1,654.1 1,302.2 1,261.7 1,582.6 1,391.2 1,552.0 1,390.2 1,471.5 1,390.0 1,764.5 1,498.0 1,540.6 1,525.6 1,372.4 1,373.9 1,623.1 1,542.0 1,565.5 1,438.2 1,539.0 1,500.4 1,245.0 1,161.1 1,515.1 1,275.0 1,440.8 1,237.8 1,367.4 1,309.6 1,418.4 1,435.5 1,443.3 1,473.5 1,315.3 1,314.5 1,545.1 1,400.4 1,405.1 1,308.2 1,461.2 1,400.2 252.9 269.4 347.6 284.7 358.4 115.2 279.3 257.3 271.5 280.8 316.0 289.6 275.3 285.4 426.4 300.1 332.0 126.7 308.1 282.9 507.7 542.3 543.5 537.1 539.0 541.0 537.8 543.6 540.7 550.6 623.7 575.5 563.7 571.1 580.1 576.6 578.2 583.8 582.3 579.4 1.5 1.7 1.9 1.8 1.9 1.9 1.5 1.6 1.8 1.9 2.3 1.9 1.7 1.7 1.9 1.8 2.1 2.1 1.6 1.6 7.6 8.3 18.2 16.8 29.9 33.1 38.3 35.3 39.2 23.3 15.4 10.6 8.1 7.6 18.8 19.9 28.9 35.7 36.6 48.5 457.1 362.8 590.1 418.9 510.4 533.5 518.1 449.0 591.4 561.5 479.6 531.1 503.3 393.4 541.8 492.5 456.0 564.8 522.0 478.9 9.6 6.4 8.3 5.5 7.5 7.5 8.1 7.1 7.8 8.6 6.9 7.3 8.9 9.2 9.3 8.3 8.0 10.2 8.1 7.2 8.6 -29.7 5.5 10.1 -6.3 5.5 -15.7 15.7 -33.9 8.9 -0.5 57.6 -45.8 46.0 -33.1 1.2 -0.1 -15.2 2.5 1.6 57.2 100.6 67.5 116.2 111.3 152.4 104.1 80.4 346.1 62.5 97.2 52.0 57.1 59.4 78.0 141.6 160.4 130.0 77.8 100.1 11.1 9.7 10.3 9.4 17.6 17.6 8.8 17.4 16.2 12.9 13.9 7.6 8.2 7.8 10.4 11.5 9.3 15.0 7.3 12.1 0.2 0.7 0.5 0.2 0.8 1.2 0.4 5.5 1.0 0.7 2.0 0.0 5.0 0.1 0.5 0.2 0.4 0.2 0.5 5.6 0.1 0.2 0.0 0.4 0.0 50.1 1.1 0.1 0.5 0.0 2.8 0.1 1.7 0.0 1.5 0.0 1.6 0.0 0.2 50.1 9.2 110.0 123.7 17.2 6.5 2.5 201.0 50.3 8.7 31.3 209.0 14.2 13.9 187.9 67.2 68.7 42.1 8.1 9.0 85.9 1,418.1 1,506.5 1,448.8 1,379.5 1,454.5 1,554.8 1,454.6 1,378.2 1,439.2 1,598.1 2,022.0 1,572.4 1,502.3 1,614.8 1,491.8 1,454.3 1,559.9 1,700.9 1,487.8 1,517.5 613.8 762.3 678.4 587.1 653.7 638.6 646.6 592.0 582.7 706.0 853.9 689.2 648.0 779.0 700.9 605.5 704.2 691.2 657.7 658.9 329.5 330.0 326.2 336.2 428.8 341.4 343.9 331.5 349.7 348.2 381.6 341.7 359.9 366.1 355.2 362.5 458.7 374.5 367.7 357.8 178.5 197.4 219.4 216.7 206.5 242.8 217.3 180.5 215.3 251.8 331.0 194.8 187.4 220.2 221.6 223.1 224.7 251.5 205.1 219.1 94.0 221.0 118.7 21.6 5.4 44.9 75.2 70.2 7.9 56.8 4.8 145.4 91.9 166.9 114.8 4.1 3.8 47.2 56.3 72.2 11.8 13.9 14.1 12.6 13.0 9.5 10.1 9.7 9.8 49.3 136.5 7.3 8.9 25.8 9.3 15.8 17.0 18.0 28.6 9.9 706.8 644.3 679.9 681.5 666.0 776.0 653.9 641.3 658.1 680.2 763.9 766.3 693.7 727.9 677.8 715.9 713.4 849.6 668.5 683.2 76.6 9.8 39.3 37.4 27.2 13.9 15.4 23.4 21.1 22.2 84.0 122.5 8.6 30.6 26.5 39.8 47.1 20.0 16.5 17.3 561.9 564.7 573.6 573.7 567.7 688.6 564.7 558.6 567.5 570.6 582.0 576.9 607.1 600.5 613.0 600.3 603.2 745.7 578.4 588.6 62.5 60.8 59.5 65.7 67.3 67.9 68.2 57.2 67.8 72.4 91.6 56.2 68.3 92.1 33.1 69.9 60.1 77.0 63.0 75.0 5.7 9.0 7.6 4.7 3.7 5.6 5.5 2.1 1.7 14.9 6.3 10.6 9.7 4.7 5.1 6.0 3.0 6.9 10.5 2.3 34.2 46.6 47.6 64.0 85.9 94.5 106.2 91.7 132.0 151.1 274.4 44.2 55.2 56.7 67.0 88.6 85.2 102.0 100.3 113.1 6.9 14.4 10.0 19.4 25.0 13.0 12.8 16.3 30.0 24.5 92.0 7.2 8.1 9.3 15.3 16.5 17.0 17.1 19.8 21.0 56.4 38.7 32.9 27.5 23.9 32.8 35.1 37.0 36.4 36.2 37.8 65.6 97.3 41.9 30.9 27.7 40.1 41.0 41.5 41.3 -95.2 -124.1 268.3 39.0 122.5 -93.2 228.3 85.1 351.7 -55.2 -253.8 -25.0 -101.1 -45.1 210.9 168.2 58.9 -239.4 68.2 136.5 36 Statistical Appendix Slovenian Economic Mirror, No 8/2019 Acronyms Acronyms in the text BoS - Bank of Slovenia, EC - European Commission, ECB - European Central Bank, EIA - Energy Information Administration, EMMI - European Money Markets Institute, EMU - European Monetary Union, ESI - Economic Sentiment Indicator, EU -European union, EUR - Euro, Euribor - Euro Interbank Offer Rate, reference interest rate for short-term interbank deposits in euros, EUROSTAT - Statistical Office of the European Union, FI - Financial instruments, GDP - Gross domestic product, GNI - gross national income, IMAD - Institute of Macroeconomic Analysis and Development, INOP - Implementation Plan for the Operational Programme for the Implementation of the EU Cohesion Policy in the Programming Period, MF -Ministry of Finance, PMI - Purchasing Managers Index, SRE - Statistical Register of Employment, SURS - Statistical Office of the Republic of Slovenia, SVRK - Government Office for Development and European Cohesion Policy, TLTRO - Targeted Longer Term Refinancing Operations, UK - United Kingdom, USD - US Dollar, VAT - value added tax, ZPPSL - Compulsory Settlement, Bankruptcy and Liquidation Act. Acronyms of Standard Classification of Activities A - Agriculture, forestry and fishing, B - Mining and quarrying, C - Manufacturing, 10 - Manufacture of food products, 11 - Manufacture of beverages, 12 - Manufacture of tobacco products, 13 - Manufacture of textiles, 14 - Manufacture of wearing apparel, 15 - Manufacture of leather and related products, 16 - Manufacture of wood and of products of wood and cork, except furniture, manufacture of articles of straw and plaiting materials, 17 - Manufacture of paper and paper products, 18 - Printing and reproduction ofrecorded media, 19- Manufacture of coke and refined petroleum products, 20- Manufacture of chemicals and chemical products, 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations, 22 - Manufacture of rubber and plastic products, 23 - Manufacture of other non-metallic mineral products, 24 - Manufacture of basic metals, 25 - Manufacture of fabricated metal products, except machinery and equipment, 26 - Manufacture of computer, electronic and optical products, 27 - Manufacture of electrical equipment, 28 - Manufacture of machinery and equipmentn.e.c.,29- Manufacture ofmotor vehicles, trailers and semi-trailers,30- Manufacture ofother transport equipment, 31 - Manufacture of furniture, 32 - Other manufacturing, 33 - Repair and installation of machinery and equipment, D-Electricity, gas, steam and air conditioning supply,E-Water supply sewerage, waste management and remediationactivities, F - Construction, G - Wholesale and retail trade, repair of motor vehicles and motorcycles, H - Transportation and storage, I - Accommodation and food service activities, J - Information and communication, K - Financial and insurance activities, L - Real estate activities, M - Professional, scientific and technical activities, N - Administrative and support service activities, O - Public administration and defence, compulsory social security, P - Education, Q - Human health and social work activities, R - Arts, entertainment and recreation, S - Other service activities, T - Activities of households as employers, undifferentiated goods- and services- producing activities of households for own use, U - Activities of extraterritorial organizations and bodies. Acronyms of Countries AU-Australia, AT-Austria, BA-Bosnia and Herzegovina, BE-Belgium, BG-Bulgaria, BY-Belarus, CA-Canada, CH-Switzerland, CL-Chile, CZ-Czech Republic, CY-Cyprus, DE-Germany, DK-Denmark, ES-Spain, EE-Estonia, GR-Greece, HR-Croatia, FR-France, FI-Finland, HU-Hungary, IE-Ireland, IL-Israel, IS-Iceland, IT-Italy, JP-Japan, KR-South Korea, LU-Luxembourg, LT-Lithuania, LV-Latvia, MT-Malta, MX-Mexico, NL-Netherlands, NO-Norway, PL-Poland, PT-Portugal, RO-Romania, RS-Republic of Serbia, RU-Russia, SE-Sweden, SI-Slovenia, SK-Slovakia, TR-Turkey, UA-Ukraine, UK-United Kingdom, US-United States of America. slovenian economic mirror No. 7, Vol. XXV, 2019 ISSN 1318-3826 9 ff J IU JULUUI 9771318382607