sl
ov
en
ia
n 
 
ec
on
om
ic
 m
ir
ro
r
N
o.
 1
, V
ol
. X
XV
III
, 2
02
2

Slovenian Economic Mirror 
(Ekonomsko ogledalo)
No. 1 / Vol. XXVIII / 2022
Publisher: IMAD, Ljubljana, Gregorčičeva 27
Responsible Person: Marijana Bednaš, MSc, Director
Editor: Matevž Hribernik, MSc
Authors:
Urška Brodar; Lejla Fajić; Tina Golob Šušteršič, PhD;  Marjan Hafner, MSc;  
Matevž Hribernik, MSc; Mojca Koprivnikar Šušteršič; Janez Kušar, MSc;  
Andrej Kuštrin, PhD; Laura Južnik Rotar, PhD; Jože Markič, PhD;  
Jure Povšnar; Denis Rogan, MSc; Dragica Šuc, MSc; Ana Vidrih, MSc
Editorial Board:  
Marijana Bednaš, MSc; Lejla Fajić; Marta Gregorčič, PhD; Alenka Kajzer, PhD;  
Rotija Kmet Zupančič, MSc; Janez Kušar, MSc
Translated by: Špela Potočnik
Technical editing and layout: Bibijana Cirman Naglič
Print: Collegium Graphicum d.o.o.
Circulation: 80 copies
First edition
Ljubljana, January 2022
ISSN 1318-3826 (print)
ISSN 1581-1026 (pdf )
The publication is available free of charge.
© The contents of this publication may be reproduced in whole 
or in part provided that the source is acknowledged.
In the spotlight  ........................................................................................................................................... 3
Current economic trends  ....................................................................................................................... 7
International environment  .......................................................................................................................9
Economic developments in Slovenia  ................................................................................................. 11
Labour market  ............................................................................................................................................ 17
Prices  .............................................................................................................................................................. 19
Financial markets ....................................................................................................................................... 20
Balance of payments  ................................................................................................................................ 21
Public finance  ............................................................................................................................................. 22
Statistical appendix  ...............................................................................................................................25
Contents
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.
The Economic Mirror is prepared based on statistical data available by 10th January 2022.
In the spotlight 3Slovenian Economic Mirror, No 1/2022
GDP growth forecasts for the euro area remain relatively high but are accompanied 
by great uncertainty related to high commodity prices, supply chain disruptions 
and a renewed deterioration in the epidemiological situation. The average quarterly 
value of the economic sentiment and confidence indicators (ESI, PMI) remained high 
in the last quarter of 2021 but declined notably compared to the previous quarter, 
indicating a slowdown in economic growth in the euro area during this period. Given 
the deterioration in the epidemiological situation, activity growth slowed, particularly in 
the services sector, and ongoing supply chain disruptions are increasingly hampering the 
manufacturing sector, especially the automotive industry. High commodity and energy 
prices are having a significant impact on rising inflation in the euro area, which stood at 
5% year-on-year in December. In December, the ECB maintained a relatively high GDP 
growth forecast in the euro area for this year and next (4.2% and 2.9% respectively) and 
growth continues to be driven mainly by private consumption. The ECB also expects 
inflation to remain high by the middle of this year and to fall to 2% year-on-year by the 
end of the year.
In Slovenia, most economic indicators suggest that the relatively favourable trends 
in the export-oriented part of the economy and in domestic consumption continued 
in the last quarter of last year; the worsening of the epidemic situation has had 
a particular impact on confidence indicators in service activities. Manufacturing 
production increased significantly in November after stagnating in October. After several 
months of notable monthly fluctuations, foreign trade in goods also increased in October 
and November. The relatively favourable trend in trade and tourism-related activities 
continued in October, and, according to data on fiscal certification of invoices, turnover in 
December was also slightly higher than in the same periods of 2019 and 2020. Activity in 
construction, which has fluctuated widely across segments in recent months, fell sharply 
in October. After several months of growth, turnover in market services declined on the 
previous month, especially in professional and technical activities, and growth in foreign 
trade in services also came to a halt. Due to the low base in 2020, activity in most sectors 
was significantly higher year-on-year at the beginning of the last quarter and was above 
pre-epidemic levels. Tourism-related activities and construction in particular still lag 
well behind these levels. Uncertainty related to the deterioration in the epidemiological 
situation affected overall confidence in the economy, especially at the beginning of the 
last quarter, and in the services sector until the end of the year. After a decline in October, 
sentiment in the export-oriented part of the economy improved towards the end of the 
year, but it remained lower on average than in the previous quarter. Like in the export-
oriented part of the economy, sentiment also improved in trade, among consumers and 
in construction by the end of last year, but it deteriorated in service activities. 
Labour market conditions were favourable in the last quarter of last year. 
Employment, which reached its highest level since measurements began, continued to 
rise in October. The highest year-on-year increases were recorded in accommodation and 
food service activities and in construction, which, given the low unemployment and the 
shortage of sufficiently skilled workers, was largely due to the hiring of foreign workers. 
At the end of last year, 65,969 people were unemployed. This is significantly lower than in 
the same periods of 2020 and 2019 (24.4% and 12.4% lower respectively) and the lowest 
level since November 2008. Given the high demand for labour, which is also reflected in 
the high vacancy rate, the number of long-term unemployed also fell last year, though it 
is still slightly higher than before the epidemic. Wage growth had slowed year-on-year 
from the middle of last year to October, mainly as a result of the cessation of certain 
epidemic-related bonus payments in the public sector. Growth in average gross wages 
in the private sector remained high in October. This was mainly due to the increase in 
the minimum wage at the beginning of the year, but also to the return to employment of 
workers who had participated in job-retention measures and labour shortages in some 
sectors. 
In the spotlight
In the spotlight4 Slovenian Economic Mirror, No 1/2022
Inflation increased further to 4.9% in December. Year-on-year inflation continues to 
be driven mainly by prices of energy, durable and semi-durable non-energy industrial 
goods, and food. The higher growth of prices is related to high commodity and energy 
prices on world markets and supply chain problems, which increasingly spill over into 
domestic consumer prices through import prices and Slovenian industrial producer 
prices.
The general government deficit was lower in the first 11 months of 2021 than in the 
same period of 2020; according to preliminary data, it increased in December 2021. 
The deficit of the consolidated general government budgetary accounts amounted 
to EUR 2.2 billion in the first 11 months of last year and was EUR 0.3 billion lower than 
in the same period of 2020, which reflects the high growth in revenues and the lower 
growth in expenditure. Revenue growth was the result of a rebound in economic activity, 
especially domestic spending, and more favourable labour market conditions. This 
mainly affected the growth of tax revenues and revenues from social contributions, but 
also the growth of some non-tax revenues related to one-off revenues and revenues from 
EU funds. As a number of measures to mitigate the impact of the COVID-19 epidemic 
expired, expenditure growth slowed in the second half of last year. According to the 
preliminary data, the deficit of the state budget, which accounts for the largest part of the 
consolidated balance sheet, rose sharply in December 2021, amounting to EUR 3.1 billion 
in 2021, but was lower than predicted when the budget documents were prepared for 
2022 and 2023 (EUR 3.9 billion), as expected. Slovenia’s net budgetary position against 
the EU budget was positive in the first 11 months of last year, and the growth of revenues 
from the EU budget increased in November.
In the spotlight 5Slovenian Economic Mirror, No 1/2022
50
60
70
80
90
100
110
120
-50
-40
-30
-20
-10
0
10
20
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Lo
ng
-te
rm
 a
ve
ra
ge
=1
00
D
iff
er
en
ce
 b
et
w
ee
n 
th
e 
sh
ar
es
 o
f p
os
iti
ve
 a
nd
 
ne
ga
tiv
e 
re
sp
on
se
s i
n 
p.
p.
, s
ea
so
na
lly
 a
dj
us
te
d
Source: EC.
Industry Services Consumers
Retail trade Construction ESI (right axis)
 Uncertainty in the international environment is related 
to high commodity and energy prices and supply chain 
disruptions, in addition to the worsening epidemic 
situation; the economic sentiment indicator for the euro 
area deteriorated at the end of 2021 
40
60
80
100
120
140
160
180
200
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
in
de
x 
20
10
=1
00
Source: SURS, calculations by IMAD. 
Goods export Ind. prod. in manufacturing
Construction output Turnover in retail trade
Turnover in service activities
 In Slovenia, available indicators of economic activity 
suggest that the relatively favourable trends continued in 
the last quarter of last year
20
40
60
80
100
120
140
Q
1 
17
Q
3 
17
Q
1 
18
Q
3 
18
Q
1 
19
Q
3 
19
Q
1 
20
Q
3 
20
Q
1 
21
Q
3 
21
Se
as
on
al
ly
 a
dj
us
te
d 
in
de
x 
20
10
=1
00
Household consumption
Real turnover in the sale of non-food products
Real turnover in the sale of food and beverages
Real turnover in the accommodation and food service activities
Sale of passenger cars to natural persons
Source: SURS; calculations by IMAD. Note: The Q4 2021 figure for the 
turnover in accommodation and food service is value for October, 
for others is the average value for October and November.
 At the beginning of the last quarter of last year, household 
spending remained broadly at the level achieved 
-3,542
-2
,5
95 -2
,2
02
-4,000
-3,000
-2,000
-1,000
0
1,000
2,000
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 I-XI
2020
I-XI
2021
In
 E
U
R 
m
ill
io
n
General government balance Primary balance
Source: MF, Bulletin of Government Finance; calculations by IMAD.
 The deficit of the consolidated balance of public finances 
was lower in the first 11 months of 2021 than in the same 
period of 2020
 Inflation rose further to 4.9% in December, with the 
largest contribution to growth coming from higher energy 
and durable goods prices
-3
-2
-1
0
1
2
3
4
5
6
-4
-3
-2
-1
0
1
2
3
4
5
6
Ja
n 
19
A
pr
 1
9
Ju
l 1
9
O
ct
 1
9
Ja
n 
20
A
pr
 2
0
Ju
l 2
0
O
ct
 2
0
Ja
n 
21
A
pr
 2
1
Ju
l 2
1
O
ct
 2
1
Ye
ar
-o
n-
ye
ar
 g
ro
w
th
, i
n 
%
Co
nt
rib
ut
io
n 
to
 y
-o
-y
 g
ro
w
th
, i
n 
p.
 p
.
Source: SURS; calculations by IMAD.
Food Fuels and energy
Services Other
TOTAL
 Labour market conditions remain favourable; 
employment is at historically high levels and 
unemployment continues to decline
0
20
40
60
80
100
120
140
160
740
760
780
800
820
840
860
880
900
Ja
n 
06
Ja
n 
07
Ja
n 
08
Ja
n 
09
Ja
n 
10
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
 Ja
n 
20
 Ja
n 
21
N
um
be
r o
f r
eg
is
te
re
d 
un
em
pl
oy
ed
, 
in
 '0
00
, s
ea
so
na
lly
 a
dj
us
te
d
N
um
be
r o
f e
m
pl
oy
ed
 a
cc
or
di
ng
 to
 S
RE
, 
in
 ‘0
00
, s
ea
so
na
lly
 a
dj
us
te
d
Source: SURS, ESS; calculations by IMAD.
Employed according to SRE (left axis)
Registered unemployed (right axis)

cu
rr
en
t e
co
no
m
ic
 tr
en
ds

Current Economic Trends 9Slovenian Economic Mirror, No 1/2022
 Figure 1: The euro area composite Purchasing Managers’ Index (PMI)
 Figure 2: Commodity prices
After a strong increase in the previous two quarters, 
growth of economic activity in the euro area slowed 
in the final quarter last year, according to available 
indicators. This is also indicated by the average quarterly 
value of the composite PMI, which fell significantly 
compared to the third quarter. With the worsening 
epidemic situation, economic growth in the services 
sector is slowing and ongoing supply chain disruptions 
are hampering the manufacturing sector, especially 
the automotive industry. The economy is also affected 
by high commodity and energy prices and a lack of 
skilled labour. This is also having a significant impact 
on rising inflation in the euro area, which stood at 5% in 
December. In its December forecast, the ECB estimates 
that economic growth in the euro area was 5.1% last 
year and predicts relatively strong growth in 2022 and 
2023 (4.2 and 2.9% respectively), despite various current 
constraints. According to the ECB, economic activity 
will pick up from mid-2022 onwards, as supply chain 
disruptions and containment measures are expected to 
ease, the associated uncertainty to decrease and inflation 
to fall. The main driver of growth will continue to be 
private consumption, supported by the strengthening of 
real disposable income, the accumulated savings and the 
favourable development of the labour market.
The average price of energy products on international 
markets remained significantly higher year-on-year 
in December (by 77%). The average dollar price of Brent 
Crude decreased by 8.4% to USD 74.3 per barrel (it was 
48.6% higher year-on-year), mainly due to the spread 
of the new COVID-19 variant. In December, natural 
gas prices on the European market increased by 38% 
compared to the previous month and by as much as 
549% year-on-year. As a result, the price of electricity on 
the European market rose significantly in December, as 
its price is largely determined by gas-fired power plants.1 
Based on futures prices on the wholesale markets, gas 
and electricity prices are expected to fall after the end of 
the winter. According to the World Bank, prices of non-
energy commodities increased slightly in December from 
the previous month and remained 8% higher year-on-
year. The strongest month-on-month price increase was 
recorded for metals and minerals, while year-on-year, 
fertiliser prices rose particularly sharply (by 164%). After 
rising 34% last year, non-energy commodity prices are 
expected to rise about 6% this year and fall again in 2023, 
according to the December ECB forecast.
20
30
40
50
60
70
80
90
100
110
120
130
140
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
In
de
x 
20
10
=1
00
Source: World Bank.
Energy Non-energy commodities
Food Metals
10
14
18
22
26
30
34
38
42
46
50
54
58
62
66
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
PM
I v
al
ue
 fo
r e
ur
o 
ar
ea
PMI PMI Manufacturing PMI Services
Source: Markit. Note: A reading above 50 signals an expansion, while a 
figure below 50 indicates a contraction.
1 The exchange price of electricity is determined by the production costs 
of the most expensive unit in the system, which is currently gas-fired 
power plants.
The international environment
Current Economic Trends10 Slovenian Economic Mirror, No 1/2022
 Figure 3: Nominal and real effective exchange rates
The value of the euro against a basket of currencies 
is approaching the levels seen before the outbreak 
of COVID-19. In the last months of 2021, the euro 
depreciated further against most of the currencies of 
Slovenia’s main trading partners, mostly approaching the 
levels before the outbreak of the COVID-19 pandemic and 
already below the February 2020 level against the Chinese 
yuan and the Swiss franc. On the other hand, the euro to 
Turkish lira exchange rate is 133% higher than the pre-
epidemic value, and a strong depreciation of the Turkish 
lira was also recorded in December 2021. This has led to 
growth, i.e. a deterioration in the nominal (NEER) and 
consequently the real (REER hicp) effective exchange rate. 
However, the price competitiveness indicator (REER hicp) 
for a narrow group of countries, which does not include 
Turkey, remains stable. Growth in final prices (measured 
by inflation or the HICP) in Slovenia was somewhat higher 
than the average growth in Slovenia’s 37 trading partners, 
but these negative effects on price competitiveness were 
mitigated by the depreciation of the euro.
96
97
98
99
100
101
102
103
104
105
106
Ja
n 
17
M
ay
 1
7
Se
p 
17
Ja
n 
18
M
ay
 1
8
Se
p 
18
Ja
n 
19
M
ay
 1
9
Se
p 
19
Ja
n 
20
M
ay
 2
0
Se
p 
20
Ja
n 
21
M
ay
 2
1
Se
p 
21
Lo
ng
-t
er
m
 a
ve
ra
ge
 fr
om
 th
e 
en
tr
y 
in
to
 
th
e 
ER
M
 II
 to
 th
e 
la
te
st
 d
at
a=
10
0
NEER (narrow group) REER_hicp (narrow group)
NEER (broad group) REER_hicp (broad group)
Source: ECB, calculations by IMAD. Note: NEER - nominal effective 
exchange rate, REER hicp - real effective exchange rate deflated by HICP. 
Growth means an appreciation of the euro and/or an increase in relative
prices against the basket of currencies of 37 (narrow group) or 60 
(including Russia and Turkey) trading partners.
Table 1: Brent crude prices, the USD/EUR exchange rate and EURIBOR
average change, in %*
2021 XI 21 XII 21 XII 21/XI 21 XII 21/XII 20 2021/2020
Brent USD, per barrel 70.69 81.05 74.26 -8.4 48.6 69.3
Brent EUR, per barrel 59.70 71.00 65.70 -7.5 59.9 63.3
USD/EUR 1.184 1.141 1.130 -1.0 -7.1 3.7
3-month EURIBOR, in % -0.549 -0.567 -0.582 -1.5 -4.4 -12.40
Non-energy commodity prices, 
index 2010=100 112.13 115.40 116.94 1.3 8.0 34.6
Source: EIA, ECB, EMMI Euribor, World Bank; calculations by IMAD. 
Note: * in Euribor change in basis points.
Current Economic Trends 11Slovenian Economic Mirror, No 1/2022
 Figure 4: Short-term indicators of economic activity in Slovenia
In Slovenia, most economic indicators suggest 
that the relatively favourable trends in the export-
oriented part of the economy and in domestic 
consumption continued in the last quarter of last 
year. Manufacturing production increased significantly 
in November after stagnating in October. After several 
months of marked monthly fluctuations, foreign trade 
in goods also increased in October and November. The 
relatively favourable trend in trade and tourism-related 
activities continued in October, and according to data 
on fiscal certification of invoices, turnover in December 
was also slightly higher than in the same periods of 2019 
and 2020. Activity in construction, which has fluctuated 
widely across segments in recent months, fell sharply 
in October. After several months of growth, turnover 
in market services declined from the previous month, 
especially in professional and technical activities, and 
growth in foreign trade in services also came to a halt. 
Due to the low base in 2020, activity in most sectors was 
significantly higher year-on-year at the beginning of the 
last quarter and was above pre-epidemic levels. Tourism-
related activities and construction in particular still lag 
well behind these levels. Uncertainty related to the 
deterioration in the epidemiological situation affected 
overall confidence in the economy, especially at the 
beginning of the last quarter, and in the services sector 
until the end of the year. 
40
60
80
100
120
140
160
180
200
Ja
n 
05
Ja
n 
06
Ja
n 
07
Ja
n 
08
Ja
n 
09
Ja
n 
10
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
in
de
x 
20
10
=1
00
Source: SURS, calculations by IMAD. Note: Data on real turnover 
in services are available from 2010 onwards.
Goods export Ind. prod. in manufacturing
Construction output Turnover in retail trade
Turnover in service activities
 Figure 5: Electricity consumption
Electricity consumption in December was about 4% 
higher than in December 2019 and 2020. The growth in 
consumption is mainly due to the low base in December 
2020 related to the strict containment measures and 
the less favourable timing of holidays in terms of the 
functioning of the economy in December 2019. Among 
Slovenia’s main trading partners, France (4%), Croatia 
(5%) and Italy (6%) recorded higher consumption 
than in December 2020. Consumption in Austria and 
Germany remained about the same as in December 
2020, which was related to the imposition of a new full 
national lockdown in Austria and the lockdown in some 
federal states in Germany. Compared to December 2019, 
consumption was higher by 6% in France and Croatia, by 
8% in Italy, and by 2% in Germany, while consumption in 
Austria remained about the same.
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
35
40
Ja
n 
20
Fe
b 
20
M
ar
 2
0
A
pr
 2
0
M
ay
 2
0
Ju
n 
20
Ju
l 2
0
A
ug
 2
0
Se
p 
20
O
ct
 2
0
N
ov
 2
0
D
ec
 2
0
Ja
n 
21
Fe
b 
21
M
ar
 2
1
A
pr
 2
1
M
ay
 2
1
Ju
n 
21
Ju
l 2
1
A
vg
 2
1
Se
p 
21
O
ct
 2
1
N
ov
 2
1
D
ec
 2
1
Ye
ar
-o
n-
ye
ar
 c
ha
ng
e,
 in
 %
Austria France Croatia
Italy Germany Slovenia
Source: ENTSO-E and Bruegel.org. Notes: Only consumption on 
working days (between 8.00 and18.00) is considered. The 
percentages are adjusted for temperature differences.
Economic developments in Slovenia
Current Economic Trends12 Slovenian Economic Mirror, No 1/2022
 Figure 7: Turnover based on fiscal verification of invoices
According to data on the fiscal verification of invoices, 
turnover in December was 36% higher year-on-year 
and 2% higher than in the same period of 2019. Year-
on-year growth was lower than in November, mainly 
due to a higher base resulting from temporary partial 
relaxation of operating restrictions between 15 and 23 
December 2020. This was mainly reflected in lower year-
on-year turnover growth in trade and some personal 
services. However, year-on-year growth was still very high 
for activities that were almost completely shut down in 
December 2020 – mainly tourism-related services. Total 
turnover was 2% higher than in December 2019, with 
three more working days in December 2021. This was due 
to 6% higher turnover in trade (higher turnover in retail 
and wholesale trade, while turnover in the sale of motor 
vehicles was lower). After an increase in the summer 
months, the decline in the accommodation and food 
sector activities intensified (to 26%), while the gap with 
pre-crisis levels remained very high in creative, arts and 
entertainment activities, in gambling and betting, and for 
travel agencies.
-40
-30
-20
-10
0
10
20
30
40
50
Ja
n 
20
Fe
b 
20
M
ar
 2
0
A
pr
 2
0
M
ay
 2
0
Ju
n 
20
Ju
l 2
0
A
ug
 2
0
Se
p 
20
O
ct
 2
0
N
ov
 2
0
D
ec
 2
0
Ja
n 
21
Fe
b 
21
M
ar
 2
1
A
pr
 2
1
M
ay
 2
1
Ju
n 
21
Ju
l 2
1
A
ug
 2
1
Se
p 
21
O
ct
 2
1
N
ov
 2
1
D
ec
 2
1
Y-
on
-y
 c
ha
ng
e,
 in
 %
Source: FURS Financial Administration of the Republic of 
Slovenia; calculations by IMAD.
 Figure 6: Traffic of electronically tolled vehicles on Slovenian motorways
In December 2021, freight traffic volumes on 
Slovenian motorways increased by 12% year-on-year. 
The high year-on-year increase is due to the lower traffic 
volumes in the second wave of the epidemic in 2020 
and the fact that December 2021 had one more working 
day. Freight traffic volumes were also significantly higher 
than in December 2019, but after adjusting the data to 
take into account working days (there were three more 
working days in 2021), they were about 3% lower. Overall, 
traffic volumes in 2021 were 14% higher than in 2020 and 
1% higher than in 2019 (adjusted for working days). The 
share of foreign vehicle traffic, which had fallen slightly 
in 2020, returned close to the pre-epidemic level of 60%.-60
-40
-20
0
20
40
60
80
100
Ja
n 
20
Fe
b 
20
M
ar
 2
0
A
pr
 2
0
M
ay
 2
0
Ju
n 
20
Ju
l 2
0
A
ug
 2
0
Se
p 
20
O
ct
 2
0
N
ov
 2
0
D
ec
 2
0
Ja
n 
21
Fe
b 
21
M
ar
 2
1
A
pr
 2
1
M
ay
 2
1
Ju
n 
21
Ju
l 2
1
A
ug
 2
1
Se
p 
21
O
ct
 2
1
N
ov
 2
1
D
ec
 2
1
Y-
on
-y
 c
ha
ng
e,
 in
 %
Tolled vehicles Domestic Foreign
Source: Internal reports obtained from DARS; calculations by IMAD.
 Table 2: Selected monthly indicators of economic activity in Slovenia
In % 2020 XI 21/X 21 XI 21/XI 20 I-XI 21/I-XI 20
Merchandise exports, real1 -0.7 3.03 13.2 14.1
- to the EU -7.5 2.03 11.5 13.8
Merchandise imports, real1 -2.4 -1.13 0.5 16.7
- from the EU -8.2 0.13 1.7 11.8
Industrial production, real -5.2 2.83 10.1 10.8
- manufacturing -5.0 3.23 11.5 12.5
In % 2020 X 21/IX 21 X 21/X 20 I-X 21/I-X 20
Services exports, nominal2 -20.3 -2.33 20.74 16.54
Services imports, nominal2 -14.7 -0.13 31.24 18.24
Construction - value of construction put in place, real -0.7 -9.23 -10.7 -4.5
Distributive trades - real turnover -7.4 1.53 13.34 9.34
Market services (without trade) - real turnover -11.0 -1.73 18.24 11.04
Sources: BoS, Eurostat, SURS; calculations by IMAD.
Notes: 1 External trade statistics, deflated by IMAD, 2 balance of payments statistics, 3 seasonally adjusted, 4 working-day adjusted data.
Current Economic Trends 13Slovenian Economic Mirror, No 1/2022
 Figure 9: Trade in goods – real
Trade in goods continued to increase in November; 
uncertainty in the international environment has 
a noticeable effect on the fluctuations in export 
and import activity in Slovenia. Exports of goods, 
especially to other EU Member States, increased in 
November for the second month in a row, while imports 
remained the same (seasonally adjusted). At the same 
time, there have been stronger monthly fluctuations in 
trade in goods2 with other EU Member States (Germany, 
France and Austria) in recent months, which we believe 
were mainly related to exports of vehicles and vehicle 
parts and accessories. Trade in goods, especially trade 
in automotive industry products, continues to be 
particularly affected by uncertainties related to supply 
chain disruptions (especially in the automotive industry) 
and high commodity prices. In the first 11 months, goods 
exports to the EU increased by 13.8% compared to the 
same period in 2019 and imports from the EU by 1.8% 
(by 13.8% year-on-year, imports by 11.8% year-on-year). 
Export expectations and orders rose further in December, 
well above long-term averages.
80
90
100
110
120
130
140
150
160
170
180
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
re
al
 in
de
x 
20
10
=1
00
Source: SURS; calculations by IMAD.
Exports to the EU Imports from the EU
2 According to the external trade statistics. 
 Figure 8: Slovenia’s export market share on the EU market
Slovenia’s export market share in the EU market fell 
significantly in the third quarter of 2021. According 
to initial estimates, it was 2.8% lower year-on-year and 
also lower than before the epidemic. The unfavourable 
trend in international trade of road vehicles, which 
account for the largest share of Slovenian goods exports 
(16.7% in the EU market in 2020), continued. Previously 
growing market shares in the pharmaceutical products 
and electrical machinery and equipment (two groups 
that follow road vehicles in terms of share of exports) also 
began to decline in the first and third quarters of 2021, 
respectively. The market shares of power-generating 
machinery and equipment and of machinery and 
equipment specialised for particular industries have 
continued to increase. The market share of iron and 
steel has also increased – the growth in the value of 
Slovenia's exports to the EU exceeded the high growth 
in the value of EU imports. Large differences in export/
import trends among product groups are also reflected in 
the geographic markets. With unfavourable trends in the 
automotive sector, Slovenia's market share in France was 
15% lower in the third quarter than in the same quarter 
before the outbreak of the epidemic. It was also lower in 
the Croatian (-8.1%) and Italian markets (-3.3%), though 
it is gradually strengthening in the latter. Compared to 
the pre-epidemic level, it increased in Slovenia’s largest 
trading partner, Germany (+1.6%), despite a somewhat 
less favourable development in the third quarter.
-30
-20
-10
0
10
20
30
40
q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3 q1 q3
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Ye
ar
-o
n-
ye
ar
 c
ha
ng
e,
 in
 %
Market share Slovenia's exports to the EU EU imports
Source: Eurostat, calculations by IMAD. 
Note: The change in Slovenia's market share is the difference 
between the change in Slovenia's exports to the EU market 
and imports of EU Member States from the rest of the world.
Current Economic Trends14 Slovenian Economic Mirror, No 1/2022
 Figure 11: Production volume in manufacturing
Manufacturing production growth was relatively 
strong again in November, after stagnating in 
the previous month. Growth continued in medium-
technology industries, and high-technology industries 
also recorded an increase. However, growth in low-
technology industries was interrupted and recorded a 
moderate decline. Year-on-year increase in production 
volume in manufacturing was again quite high, strongest 
in low-technology industries and lowest in medium-high 
technology industries. In the case of the latter, growth 
was mainly affected by developments in the automotive 
industry, where production volumes are even lower year-
on-year due to supply chain disruptions and uncertainty 
about the future development of the industry in the 
context of the green transition. The year-on-year growth 
of low-technology industries was mainly due to other 
manufacturing activities4, which achieved extremely 
high year-on-year growth, largely due to the low base in 
2020, as the increase in production volume is significantly 
lower compared to the same period in 2019.
80
100
120
140
160
180
200
220
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21S
ea
so
na
lly
 a
dj
us
te
d 
re
al
  i
nd
ex
 2
01
0=
10
0
Source: SURS, calculations IMAD.
High-tech ind. Medium-high-tech. ind.
Medium-low-tech. ind. Low-tech ind.
Manufacturing, tot.
4 According to NACE, Section 32 (“Other manufacturing”) includes 
the manufacture of jewellery, bijouterie and related articles, the 
manufacture of musical instruments, the manufacture of sports goods, 
the manufacture of games and toys, the manufacture of medical and 
dental instruments and supplies, and manufacturing n.e.c.
 Figure 10: Trade in services – nominal
The several months of growth in foreign trade in 
services was interrupted in October (seasonally 
adjusted). Trade in travel3 and in administrative and 
support service activities, accounting for 40% of all trade 
in services, was lower, and trade in ICT and construction 
services fell sharply. Relatively favourable developments 
continued in transportation and travel. Year-on-
year, total trade in services was significantly higher 
in October, mainly due to the very low base in 2020, 
when the activities of several sectors of the economy 
were still severely constrained, while trade remained at 
a similar level compared to the same period before the 
crisis. Lower trade is particularly evident in tourism and 
in personal services, arts and recreation, while other 
important groups of services are mostly already well 
above comparable pre-crisis levels.
250
300
350
400
450
500
550
600
650
700
750
800
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
In
 E
U
R 
m
, s
ea
so
na
lly
 a
dj
us
te
d
Source: BoS; calculations by IMAD.
Exports of services Imports of services
3 Spending by Slovenian tourists abroad declined noticeably, while 
spending by foreign tourists, same-day visitors and transit passengers 
in Slovenia remained at the level of the previous month.
Current Economic Trends 15Slovenian Economic Mirror, No 1/2022
 Figure 14: Turnover in market services
In October, real turnover in market services 
decreased. After five months of growth, it fell by 1.7% 
month-on-month and was 16.8% higher year-on-year. 
The decline was most pronounced in professional and 
technical activities, mainly due to a renewed drop in 
turnover in architectural and engineering services. 
Turnover in transportation, accommodation and food 
service activities, and administrative and support service 
activities also remained at a high level, increasing again 
for travel agencies while decreasing for employment 
agencies. Turnover growth continued only in information 
and communication activities, due to higher sales of 
computer services in the domestic and foreign markets. 
Turnover in October was higher year-on-year in all market 
services, but compared to the same month in 2019, only 
travel and employment agencies saw significantly lower 
turnover (by 46% and 22% respectively).
0
20
40
60
80
100
120
140
160
180
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
re
al
 in
de
x 
20
10
=1
00
Total *
Transportation and storage (H)
Information and communication activities (J)
Professional and technical activities (M)
Administrative and support service activities (N)
Accommodation and food service activities (I)
Source:  SURS; calculations by IMAD. Note: * including real estate.
 Figure 13: Turnover in trade
In October, turnover in trade increased for the third 
month in a row. The month-on-month growth was 
mainly due to high growth in retail trade, where, in 
addition to a steady increase in non-food and food sales, 
sale of automotive fuels increased by as much as a third. 
Due to low turnover following the declaration of the 
epidemic and the introduction of restrictions on the sales 
of goods and services in October 2020, turnover in this 
sector almost doubled year-on-year; it was also almost 
a third higher than in October 2019. In total, turnover in 
trade in October was 12% higher year-on-year and 4% 
higher than in October 2019. Of all the main segments, 
turnover remained lower only in the sales of motor 
vehicles. According to the preliminary data, turnover in 
this segment increased in November, while it decreased 
slightly in retail trade.
80
100
120
140
160
180
200
220
240
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
re
al
 in
de
x 
20
10
=1
00
Source: SURS; calculations by IMAD.
Total Sale of motor vehicles
Wholesale trade Retail trade
.
 Figure 12: Activity in construction
Fluctuations in construction activity continued in 
October. After an increase in September, the value of 
construction output fell by 9.2% in October and was 
10.7% lower than in October 2020. At the monthly 
level, activity in the individual construction segments has 
fluctuated markedly. Despite these fluctuations, activity 
in civil engineering works and specialised construction 
remains at the levels reached at the beginning of the 
year. Activity is declining in residential construction and 
especially in non-residential construction. The stock of 
contracts has also fluctuated similarly on a monthly basis. 
It peaked in July, but after a sharp decline in August, it has 
increased again slightly in the last two months.
Construction prices increased sharply in the last year 
under the pressure of rising commodity prices and 
shortage of labour. The implicit deflator of the value of 
completed construction works (used to measure prices 
in the construction sector) was 7.6% in October and over 
10% in building construction.
40
45
50
55
60
65
70
75
80
85
90
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Re
al
 c
on
st
ru
ct
io
n 
pr
od
uc
tio
n 
in
de
x 
(2
01
0=
10
0)
Source: SURS; calculations by IMAD.
Seasonally adjusted data
3-month moving averages, seasonally adjusted
Current Economic Trends16 Slovenian Economic Mirror, No 1/2022
 Figure 17: Economic sentiment
The Economic Sentiment Indicator improved in 
December, but the average value for the last three 
months points to a slowdown in economic activity in the 
last quarter. At the monthly level, confidence improved 
in most activities and among consumers. Confidence thus 
remained significantly higher in December than in the 
same period last year; it was also higher in manufacturing 
and construction than in the same period in 2019. Despite 
the improvement in the last two months, however, 
confidence in most activities deteriorated compared to 
the previous quarter. The deterioration in manufacturing 
is the result of the current situation in the international 
environment (supply bottlenecks, rising non-energy 
commodity and energy prices), while the deterioration 
in the retail trade and among consumers was caused by 
uncertainty about the epidemic situation and measures. 
On the positive side, confidence in construction stands 
out; this increased significantly in the last quarter and is 
well above the long-term average.
-60
-50
-40
-30
-20
-10
0
10
20
30
40
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
 Ja
n 
20
 Ja
n 
21
Se
as
on
al
ly
 a
dj
us
te
d 
in
di
ca
to
r v
al
ue
Source: SURS; calculations by IMAD.
Economic sentiment Manufacturing
Retail trade Service activities
Construction Consumers
 Figure 16: Real estate, Q3 2021
Given the relatively high number of transactions, 
dwelling price growth accelerated in the third quarter. 
Prices were up 12.9% year-on-year and 10.1% overall in the 
first nine months, which represents a strong acceleration 
from the average growth of 4.6% in 2020. In the third 
quarter, the year-on-year price increase was similar (by 
about 13%) for both existing and newly built dwellings (the 
latter account for only 1% of all transactions). According to 
our estimates, the growth of prices in 2021 was influenced 
by several factors. On the supply side, the main factors 
affecting prices for several years have been the low 
supply of newly built dwellings and, more significantly 
this year, higher prices for raw materials for construction. 
Meanwhile, the price increase was also influenced by 
increased household demand stimulated by the rise in 
total savings during the epidemic, the maintenance of 
relatively high disposable income and the persistence of 
favourable credit conditions (new housing loans rose by 
more than a third year-on-year in the year to October).
80
85
90
95
100
105
110
115
120
125
130
20
40
60
80
100
120
140
160
180
200
220
Q
1 
08
Q
1 
09
Q
1 
10
Q
1 
11
Q
1 
12
Q
1 
13
Q
1 
14
Q
1 
15
Q
1 
16
Q
1 
17
Q
1 
18
Q
1 
19
Q
1 
20
Q
1 
21
In
de
x 
20
10
=1
00
, 4
-q
ua
rt
er
 m
ov
in
g 
av
er
ag
es
In
de
x 
20
10
=1
00
, 4
-q
ua
rt
er
 m
ov
in
g 
av
er
ag
es
Transactions in existing residential properties (left axis)
Transactions in new residential properties (left axis)
Prices of existing residential properties (right axis)
Prices of new residential properties (right axis)
Source: SURS; calculations by IMAD. Note: Due to methodological 
changes transaction data are available from 2010 onwards. 
 Figure 15: Selected indicators of household consumption
Household consumption remained stable at the 
beginning of the final quarter and was significantly 
higher than a year ago, partly due to the low base. 
Compared to the third quarter, spending on non-food 
products further increased, and sales of automotive fuels 
also rose strongly, due to higher sales both to households 
and legal entities and to transit customers. Relatively 
high household spending on food and beverages and on 
accommodation and food service activities in the domestic 
market, which was also influenced by the redemption of 
vouchers, and in foreign markets also continued. Year-
on-year consumption growth strengthened significantly 
in most segments5 compared to the third quarter, mainly 
due to low sales caused by the restrictions on the sale of 
goods and services in the final quarter of 2020. 
20
40
60
80
100
120
140
Q
1 
10
Q
1 
11
Q
1 
12
Q
1 
13
Q
1 
14
Q
1 
15
Q
1 
16
Q
1 
17
Q
1 
18
Q
1 
19
Q
1 
20
Q
1 
21
Se
as
on
al
ly
 a
dj
us
te
d 
in
de
x 
20
10
=1
00
Household consumption
Real turnover in the sale of non-food products
Real turnover in the sale of food and beverages
Real turnover in the accommodation and food service activities
Sale of passenger cars to natural persons
Source: SURS; calculations by IMAD. Note: The Q4 2021 figure for the 
turnover in accommodation and food service is value for October, 
for others is the average value for October and November.
5 Only sales of passenger cars were lower year-on-year, which we assess 
is due to car delivery delays.
Current Economic Trends 17Slovenian Economic Mirror, No 1/2022
 Figure 18: Number of employed persons
 Figure 19: Number of registered unemployed persons
Employment rose further in October, reaching its 
highest level measured to date.  The highest year-on-
year increases were recorded in accommodation and food 
service activities and construction, with employment in 
the latter significantly higher than in October 2019, while 
employment in the former remained below the level of 
two years ago. The containment measures also had a 
strong impact on the arts, entertainment and recreation, 
where, however, the number of employed people also 
remained lower this October than in the same period of 
2019. In the first ten months, the number of employed 
persons was 1.1% higher than last year and 0.4% higher 
than in the same period of 2019. In the midst of a rapid 
economic recovery, employment growth is still largely 
dependent on the hiring of foreigners (their contribution 
to total employment growth was over 50% in October), 
as was the case before the outbreak of the COVID-19 
epidemic. This is a consequence of demographic change 
and the related shortage of domestic labour. The 
economic sectors with the highest share of employed 
foreigners in the first ten months were construction (43%), 
transportation and storage (31%), and administrative and 
support service activities (24%).6
Seasonally adjusted data continue to show a decrease 
in the number of registered unemployed in December 
(by 2.9%), which was more pronounced than in 
previous months. According to original data, 65,969 
people were unemployed at the end of December, 
0.9% more than at the end of November. This largely 
reflects seasonal trends related to a higher inflow 
into unemployment due to the expiry of fixed-term 
employment contracts. The number of unemployed 
was 24.4% lower than a year ago and 12.4% lower than 
in December 2019. On average, 74,316 persons were 
unemployed in 2021, 12.6% less than in 2020 and 0.2% 
more than in 2019. Among the unemployed, the number 
of long-term unemployed rose in the first four months 
of last year but then fell slightly again by the end of the 
year in view of the high demand for labour, which is also 
reflected in the high rate of job vacancies. At the end 
of December 2021, there were 5.6% fewer long-term 
unemployed than at the end of 2020 and 1% more than 
at the end of 2019. Of the long-term unemployed, more 
than half have been unemployed for more than two years.
740
760
780
800
820
840
860
880
900
Ja
n 
06
Ja
n 
07
Ja
n 
08
Ja
n 
09
Ja
n 
10
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
 Ja
n 
20
 Ja
n 
21
N
um
be
r o
f e
m
pl
oy
ed
 a
cc
or
di
ng
 to
 S
RE
, 
in
 ‘0
00
, s
ea
so
na
lly
 a
dj
us
te
d
Source: SURS; calculations by IMAD.
0
20
40
60
80
100
120
140
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
N
um
be
r o
f r
eg
is
te
re
d 
un
em
pl
oy
ed
 in
 '0
00
Source: ESS.
All unemployed Long-term unemployed
6 Compared to the same period in 2019, the proportion of employed 
foreigners has increased in all these sectors.
Labour market
Current Economic Trends18 Slovenian Economic Mirror, No 1/2022
 Figure 20: Average gross wage per employee
Year-on-year wage growth in the public sector was low 
in October (0.5%), while it remained relatively high in 
the private sector (5.7%). Year-on-year public sector 
wage growth slowed significantly in the second half of 
the year due to the cessation of epidemic-related bonus 
payments.7 In the first ten months, public sector wages 
were 9.1% higher than in the same period of 2020. In the 
private sector, average wages increased by 5.7% year-on-
year in the first ten months, mainly due to the impact of 
the minimum wage increase at the beginning of the year, 
but also to the return to employment of workers who 
had participated in job-retention measures. According 
to our estimates, wage growth in some private sector 
activities (administrative and support service activities, 
construction, and accommodation and food service 
activities) may already be affected by labour shortages.
-4
-2
0
2
4
6
8
10
12
14
16
18
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Source: SURS; calculations by IMAD.
Private sector Public sector Total
Ye
ar
-o
n-
ye
ar
 g
ro
w
th
, 3
-m
on
th
 m
ov
in
g 
av
er
ag
e
7 The payment of most bonuses ceased in mid-June 2021.
 Table 3: Indicators of labour market trends
Change, in % 2020 X 21/IX 21 X 21/X 20 I-X 21/I-X 20
Persons in formal employment2 -0.6 0.21 2.4 1.0
Average nominal gross wage 5.8 0.41 3.6 6.9
private sector 4.4 0.41 5.7 5.7
public sector 7.8 0.41 0.5 9.1
of which general government 9.9 2.61 -0.4 10.5
of which public corporations 1.9 0.31 2.9 4.7
2020 X 20 IX 21 X 21
Rate of registered unemployment (in %), seasonally adjusted 8.7 8.9 7.2 7.1
Change, in % 2020 XII 21/XI 21 XII 21/XII 20 I-XII 21/I-XII 20
Registered unemployed -12.6 0.9 -24.4 -12.6
Sources: ESS, SURS; calculations by IMAD. Notes: 1 Seasonally adjusted. 2 Persons in paid employment, self-employed persons and farmers (SRDAP).
Current Economic Trends 19Slovenian Economic Mirror, No 1/2022
 Figure 21: Consumer prices
 Figure 22: Slovenian industrial producer prices
Year-on-year consumer price inflation continued 
to rise, reaching 4.9% in December 2021. Inflation 
continues to be driven mainly by higher energy prices 
and supply chain problems. Although the year-on-year 
increase in oil product prices slowed slightly towards 
the end of the year in the face of falling oil prices on 
international markets and the government’s decision to 
re-regulate heating oil margins, the year-on-year increase 
was still around 30%. The rise in heat energy prices 
continued to accelerate rapidly, reaching a 70% year-on-
year increase in December. At the end of last year, food 
prices also rose sharply year-on-year (by 4%), amid the 
lower base and a significant monthly increase (2.1%). Due 
to rising car prices, prices of durable goods are also rising, 
by 6.5% year-on-year, and prices of semi-durable goods 
increased by 4.8%. At the end of last year, the year-on-
year increase in services prices (1.5%) was sustained.
Slovenian industrial producer prices continue to rise. 
They increased by almost a tenth year-on-year in 
November. Prices are rising across all industrial groups, 
both in the domestic and foreign markets. Overall 
growth continues to be driven mainly by prices in the 
intermediate goods group, which rose by around 15% 
year-on-year. The increase in prices for capital goods has 
stabilised at around 8.5% over the past three months. 
Energy prices have also risen but, despite the increase 
in the last two months, their year-on-year growth in the 
domestic market remains relatively modest (3.7%). In the 
face of production bottlenecks and higher non-energy 
commodity and energy prices, prices for consumer 
goods, which rose by 3% year-on-year, increased more 
in November than in previous months. Prices in the 
durable goods group rose somewhat more markedly, by 
about 4%, while prices for non-durable consumer goods 
increased by about 3% year-on-year.
-2
-1
0
1
2
3
4
5
6
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Ye
ar
-o
n-
ye
ar
 in
fla
tio
n,
 in
 %
Source: SURS, Eurostat.
Slovenia Euro area
-4
-2
0
2
4
6
8
10
12
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Ye
ar
-o
n-
ye
ar
 g
ro
w
th
, i
n 
%
 
Source: SURS.
Domestic market Foreign market
Prices
Table 4: Consumer price growth, in %
XII 20/XII 19 I 21-XII 21/I 20-XII 20 XII 21/XI 21 XII 21/XII 20 I-II 22/I-II 21
Total -1.1 1.9 0.0 4.9 1.9
Food 1.1 -0.3 2.1 4.0 -0.3
Fuels and energy -9.9 11.1 -0.9 19.1 11.1
Services 0.2 0.4 -0.9 1.5 0.4
Other1 -0.5 1.6 0.2 4.4 1.6
Core inflation - excluding food and energy -0.1 1.1 -0.3 3.1 1.1
Core inflation - trimmed mean2 -0.4 1.4 0.3 3.6 1.4
Source: SURS. Ministry of Economic Development and Technology; calculations by IMAD. 
Notes: 1 Clothing, footwear, furniture, passenger cars, alcoholic beverages, tobacco, etc.; 2 An approach that excludes the share of extreme price changes in each month.
Current Economic Trends20 Slovenian Economic Mirror, No 1/2022
 Figure 23: Loans to domestic non-banking sectors
The year-on-year growth in the volume of bank loans 
to domestic non-banking sectors, which increased 
considerably in October, remained at around 3.6%. 
Lending to enterprises and NFIs remains moderate, 
growing by about 4% year-on-year. Similar year-on-
year growth was observed in loans to households, 
mainly due to the high growth (8.6%) in housing loans. 
Lending in the form of consumer credit has continued 
to decline year-on-year, with a year-on-year decline of 
around 5% since the middle of last year. Growth in the 
volume of household deposits is still relatively high 
year-on-year (7.6%), but it slowed in the second half of 
the year as inflow of deposits in banks moderated. The 
share of non-performing claims8 is no longer declining 
and has stabilised at 1.3% in recent months. Among all 
groups and sectors, the share of non-performing loans 
increased compared to the pre-outbreak period only in 
accommodation and food service activities (by a half to 
12.6%) and in consumer loans (to 3.7%).
-40
-30
-20
-10
0
10
20
30
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
Ye
ar
-o
n-
ye
ar
 g
ro
w
th
, i
n 
%
Source: BoS.
Consumer loans
Lending for house purchase
Enterprises and NFIs
Total
8 According to the EBA definition, non-performing claims include 
not only arrears of more than 90 days, but also claims that meet the 
“unlikely to pay” criterion with regard to the volume of all claims. 
 Figure 24: Bond, Q4 2021
Yields to maturity of euro area government bonds rose 
slightly in the last quarter of last year but still remain 
very low. The higher yield to maturity of government 
bonds was influenced by the further rise in inflation in the 
euro area and the decision by the ECB to gradually scale 
back expansionary monetary policy measures. The yield 
to maturity of the Slovenian bond was thus 0.25% in the 
last quarter. The spread to the German bond was 49 basis 
points, about 15 basis points higher than in the previous 
quarter, which is comparable to the pre-epidemic period.
-2
-1
0
1
2
3
4
5
6
7
8
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
 Ja
n 
20
 Ja
n 
21
Yi
el
ds
 to
 m
at
ur
ity
 in
 %
Source: Bloomberg.
Austria Ireland Italy Germany
Portugal Slovenia Spain
Financial markets
Table 5: Financial market indicators
Domestic bank loans to non-banking sector and 
household savings
Nominal amounts, EUR m Nominal loan growth, %
30. XI 20 31. XII 20 30. XI 21 30. XI 21/31. X 21 30. XI 21/30. XI 20
Loans total 23,056.8 22,860.9 23,886.0 0.1 3.6
Enterprises and NFI 10,495.7 10,307.0 10,951.1 -0.5 4.3
Government 1,554.5 1,556.8 1,420.7 0.6 -8.6
Households 11,006.6 10,997.0 11,514.1 0.6 4.6
Consumer credits 2,735.5 2,706.5 2,599.5 -0.4 -5.0
Lending for house purchase 6,840.4 6,862.1 7,429.3 0.9 8.6
Other lending 1,430.6 1,428.4 1,485.3 0.5 3.8
Bank deposits total 22,517.0 22,915.7 24,230.2 0.1 7.6
Overnight deposits 18,546.9 18,975.7 20,939.8 0.5 12.9
Term deposits 3,970.1 3,939.9 3,290.4 -2.0 -17.1
Government bank deposits, total 574.9 595.3 486.1 -0.6 -15.4
Deposits of non-financial corporations, total 7,800.9 8,053.5 8,519.4 1.2 9.2
Sources: Monthly Bulletin of the BoS; calculations by IMAD. Note: NFI – Non-monetary Financial Institutions.
Current Economic Trends 21Slovenian Economic Mirror, No 1/2022
 Figure 25: Current account
The current account surplus fell again in October. 
In the last 12 months, it amounted to EUR 2.3 billion 
(4.6% of GDP), which was lower than in the previous 
year. The lower year-on-year surplus is entirely due to a 
lower trade surplus, as the real growth of imports was 
higher than that of exports. The terms of trade also 
deteriorated. As the increase in import prices (7.5%) was 
higher than that of export prices (3.1%), the operating 
costs of Slovenian exporters increased. The surplus in 
services trade continued to increase, especially in trade 
in construction services and trade in higher value-
added services (research and development services 
and telecommunications, computer and information 
services). The primary income deficit decreased year-on-
year, mainly due to higher subsidies from the EU budget 
for agricultural and fisheries policies and lower costs of 
external debt servicing. The lower deficit in secondary 
income is mainly due to higher government sector 
receipts from the European Social Fund and ongoing 
international cooperation.
-2000
-1000
0
1000
2000
3000
4000
5000
Ja
n 
11
Ja
n 
12
Ja
n 
13
Ja
n 
14
Ja
n 
15
Ja
n 
16
Ja
n 
17
Ja
n 
18
Ja
n 
19
Ja
n 
20
Ja
n 
21
12
-m
on
th
 c
um
ul
at
iv
es
, i
n 
EU
R 
m
ill
io
n
Source: BoS; calculations by IMAD.
Trade in goods Trade in services
Primary income Secondary income
Current account
Balance of payments
Table 6: Balance of payments
I-X 2021, in EUR million Inflows Outflows Balance Balance, I-X 2020
Current account 37,981.6 36,110.0 1,871.6 3,003.7
Goods 28,884.1 28,190.5 693.6 2,113.3
Services 6,612.4 4,678.7 1,933.7 1,717.2
Primary income 1,410.3 1,930.2 -519.9 -428.4
Secondary income 1,074.7 1,310.6 -235.9 -398.5
Capital account 2,667.1 2,422.5 244.6 -110.8
Financial account 3,945.8 5,652.2 1,706.4 2,534.9
Direct investment 1,686.3 1,239.7 -446.6 -235.6
Portfolio investment -1,857.1 521.5 2,378.6 -2,983.2
Other investment 4,123.7 3,162.3 -961.3 5,609.5
Net errors and omissions -409.7 0.0 -409.7 -357.9
Source: BoS. 
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 published by the International Monetary Fund. On the current and capital accounts, the term “inflows” 
means total receipts and the term “outflows” means total expenditures; “balance” is the difference between inflows and outflows. On the financial account, “outflows” mean 
assets, while “inflows” mean liabilities abroad; “balance” is the difference between outflows and inflows. In financial inflows and outflows, the increase is recorded with a 
plus sign and the decrease with a minus sign.
Current Economic Trends22 Slovenian Economic Mirror, No 1/2022
 Figure 26: Consolidated general government budgetary accounts
The deficit of the consolidated general government 
budgetary accounts9 amounted to EUR 2.2 billion in 
the first 11 months of 2021 and was 0.3 billion lower 
than in the same period of 2020. This reflects the 
high growth in revenue (14.2%), which fell in the same 
period of 2020, and the slower growth in expenditure 
(10.3%). Revenue growth is the result of a recovery in 
economic activity, especially domestic demand, and 
more favourable labour market conditions. In particular, 
the growth of tax revenues10 and revenues from social 
contributions strengthened in 2021. Compared to the 
same period of 2020, growth in non-tax revenues has 
also strengthened, this due to extraordinary revenues 
from new borrowing and concessions granted for mobile 
telephony licences. Growth in EU revenue was modest 
during most of the year but strengthened in November 
2021. In addition to lower expenditure growth than 
in 2020, the structure of growth is also different. The 
contribution of public servants’ wages to the growth of 
total expenditure has increased (payments for allowances 
for work in hazardous conditions during the epidemic, 
promotions and implementation of the agreement on 
wages), as did the contribution of investment, while 
expenditure on subsidies, which had increased a year 
earlier, fell sharply. In the first 11 months of 2021, total 
expenditure on measures to mitigate the consequences 
of COVID-19 amounted to EUR 2.6 billion (EUR 1.7 billion 
in the first eleven months of 2020), most of this on 
allowances for public sector workers and reimbursement 
of fixed costs to companies. According to the preliminary 
data, the deficit of the state budget, which accounts 
for the largest part of the consolidated balance sheet, 
increased sharply in December and amounts to EUR 
3.1 billion in 2021, which is 6.1% of GDP.11 However, as 
expected, it did not reach the autumn estimate (EUR 3.9 
billion or 7.9% of GDP) from the adopted Ordinance,12 due 
to higher tax revenues and lower expenditure, especially 
on investment.
-10
-5
0
5
10
15
20
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 I-XI
2020
I-XI
2021
Co
nt
rib
ut
io
n 
to
 g
ro
w
th
, i
n 
p.
p.
Source: MF; calculations by IMAD.
Tax revenues Social security contributions
Non-tax revenues Receipts from the EU budget
Other TOTAL REVENUE (growth in %)
9 The consolidated balance of public financing on a cash basis.
10 The high growth of tax revenues this year also reflects last year’s low 
base, which was due to the exemption of advance corporate income 
tax payments and the instalment and deferred payment of other taxes 
(especially VAT and excise taxes).
11 Ministry of Finance, January 2022. Obtained at: https://www.gov.si/
novice/2022-01-03-preliminarna-realizacija-drzavnega-proracuna-za-
december-2021/
12 Ordinance on the framework for the preparation of the general 
government budget for the 2020–2022 period. Obtained at: http://
www.pisrs.si/Pis.web/pregledPredpisa?id=ODLO1979
-10
-5
0
5
10
15
20
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 I-XI
2020
I-XI
2021
Co
nt
rib
ut
io
n 
to
 g
ro
w
th
, i
n 
p.
p.
Source: MF; calculations by IMAD.
Salaries, wages and other personnel expend. with social contrib.
Expenditure on goods and services
Interest payments
Reserves
Current transfers
Capital exp. and capital transf.
Payments to the EU budget
TOTAL EXPENDITURE (growth in %)
Public finance
Current Economic Trends 23Slovenian Economic Mirror, No 1/2022
 Figure 27: Receipts from the EU budget
Slovenia’s net budgetary position against the EU 
budget was positive in the first 11 months of 2021 
(at EUR 100.6 million). In this period, Slovenia received 
EUR 658.6 million from the EU budget (40.7% of revenue 
envisaged in the state budget for 2021) and paid EUR 558 
million into it (98.7% of planned payments). The bulk of 
receipts were resources from structural funds13 (46.8% of 
all reimbursements to the state budget) and resources 
for the implementation of the Common Agricultural and 
Fisheries Policy (36.5%), while the shares of resources 
from the EU Cohesion Fund and resources for the 
implementation of centralised and other programmes 
were significantly lower (10.3% and 6.3% respectively)14. 
According to SVRK data, by the end of November, projects 
confirmed accounted for 102% and disbursements for 
65% of the allocated funds15.
0 100 200 300 400 500 600 700 800
Other
Receipts from
centralised funds
and other
Cohesion
Fund
Structural
Funds
Common
Agricultural
Policy
In EUR million
Total receipts (January–November 2020)
Expected reimbursements in the revised budget  2021
Total receipts (January–November 2021)
Source: MF.
13 The European Regional Development Fund (ERDF); the European Social 
Fund (ESF).
14 According to the Republic of Slovenia’s budget forecasts, the bulk of 
receipts were resources under the Common Agricultural and Fisheries 
Policy (79.2%) and resources for the implementation of centralised 
and other programmes (61.2%), followed by resources from Structural 
Funds (43.9%) and from the Cohesion Fund (27.6%).
15 In order to ensure better absorption of European funds, a contingency 
reserve of 15% of the allocated funds is foreseen, which means that the 
value of approved projects can be higher than 100%.
Table 7: Consolidated general government revenue and expenditure on a cash basis
Category
I-XI 2020 I-XI 2021
Category
I-XI 2020 I-XI 2021
EUR m
Y-o-y 
growth* 
in % EUR m
Y-o-y 
growth* 
in % EUR m
Y-o-y 
growth* 
in % EUR m
Y-o-y 
growth* 
in %
REVENUES TOTAL 16,888.2 -3.0 19,290.3 14.2 EXPENDITURE TOTAL 19,482.8 14.1 21,492.4 10.3
Tax revenues1 8,451.3 -9.1 9,856.6 16.6 Salaries,* wages and other personnel expenditures2 4,524.7 10.5 5,314.3 17.4
Personal income tax 2,222.8 -3.4 2,554.7 14.9 Expenditure on goods and services 2,565.3 5.8 2,805.2 9.3
Corporate income tax 695.4 -24.2 1,026.8 47.7 Interest payments 764.7 -1.7 719.1 -6.0
Taxes on immovable property 222.5 -0.9 238.6 7.2 Reserves 206.6 17.9 284.5 37.7
Value added tax 3,261.8 -8.8 3,812.8 16.9 Transfers to individuals and households 7,551.4 12.4 8,450.9 11.9
Excise duties 1,251.3 -12.3 1,349.2 7.8 Other current transfers 2,276.1 85.2 1,894.7 -16.8
Social security contributions 6,592.5 3.7 7,168.0 8.7 Investment expenditure 1,113.6 -4.3 1,465.8 31.6
Non-tax revenues 1,034.6 0.4 1,212.6 17.2 Payments to the EU budget 480.3 -1.2 558.0 16.2
Receipts from the EU budget 623.9 15.7 773.8 24.0 GENERAL GOVERNMENT BALANCE -2,594.6 -2,202.2
Other 186.0 -1.7 279.2 50.1 PRIMARY BALANCE -1,842.4 -1,486.4
Source: MF; calculations by IMAD. 
Note: 1 Unlike tax revenues in the consolidated balance of public finance. Tax revenues in this table do not include social constributions. 2 Labour costs include social 
contributions by the employer.

st
at
is
ti
ca
l a
pp
en
di
x

Statistical Appendix 27Slovenian Economic Mirror, No 1/2022
Main indicators 2015 2016 2017 2018 2019 2020
2021 2022 2023
Autumn Forecast 2021
GDP (real growth rates, in %) 2.2 3.2 4.8 4.4 3.3 -4.2 6.1 4.7 3.3
GDP in EUR million (current prices) 38,853 40,443 43,011 45,864 48,397 46,918 50,364 53,352 56,136
GDP per capita in EUR (current prices) 18,830 19,589 20,820 22,136 23,167 22,312 23,897 25,259 26,496
GDP per capita (PPS)1 83 84 86 87 89 89
GDP per capita (PPS EU27=100)1 12.3 11.2 9.5 8.2 7.7 8.7 7.7 6.9 6.6
Rate of registered unemployment 9.0 8.0 6.6 5.1 4.5 5.0 4.7 4.3 4.2
Standardised rate of unemployment (ILO) 0.9 1.3 1.8 1.2 0.8 -3.7 5.3 3.1 2.1
Labour productivity (GDP per employee) -0.5 -0.1 1.4 1.7 1.6 -0.1 1.4 2.0 1.9
Inflation2, year average -0.4 0.5 1.7 1.4 1.8 -1.1 2.5 1.9 2.0
Inflation2, end of the year -0.4 0.5 1.7 1.4 1.8 -1.1 1.1 1.5 2.0
INTERNATIONAL TRADE 
Exports of goods and services (real growth rates, in %) 4.7 6.2 11.1 6.2 4.5 -8.7 10.9 8.2 5.6
Exports of goods 5.3 5.7 11.0 5.7 4.5 -5.5 11.4 6.6 4.8
Exports of services 2.4 8.0 11.2 7.7 4.6 -20.5 8.8 15.2 9.0
Imports of goods and services (real growth rates, in %) 4.3 6.3 10.7 7.1 4.7 -9.6 12.6 8.8 5.8
Imports of goods 5.1 6.6 10.7 7.4 5.0 -8.6 13.4 8.2 5.6
Imports of services 0.1 4.7 10.5 5.4 3.0 -14.9 8.4 12.3 7.3
Current account balance3, in EUR million 1,483 1,932 2,674 2,731 2,898 3,462 2,337 2,138 2,116
As a per cent share relative to GDP 3.8 4.8 6.2 6.0 6.0 7.4 4.6 4.0 3.8
Gross external debt, in EUR million 46,171 44,325 43,231 42,148 43,796 48,252 51,200*
As a per cent share relative to GDP 118.8 109.6 100.5 91.9 90.5 102.8
Ratio of USD to EUR 1.110 1.107 1.129 1.181 1.120 1.141 1.193 1.180 1.180
DOMESTIC DEMAND 
Private consumption (real growth rates, in %) 2.0 4.4 1.9 3.6 4.8 -6.6 5.6 6.0 3.1
As a % of GDP 54.0 54.0 52.5 52.0 52.4 50.2 50.1 51.1 51.0
Government consumption (real growth rates, in %) 2.3 2.4 0.4 3.0 2.0 4.2 1.8 1.5 1.0
 As a % of GDP 18.8 19.0 18.5 18.3 18.3 20.6 20.5 19.4 19.1
Gross fixed capital formation (real growth rates, in %) -1.2 -3.6 10.2 9.7 5.5 -8.2 10.0 8.0 6.0
As a % of GDP 18.7 17.4 18.3 19.3 19.6 18.9 20.0 20.8 21.4
Source: SURS, Bank of Slovenia, Eurostat, IMAD recalculations and forecasts (Autumn forecast, September 2021).
Notes: 1 Measured in purchasing power standard; Eurostat 15.12.2020. 2 Consumer price index. 3 Balance of payments statistics. *end October 2021.
Statistical Appendix28 Slovenian Economic Mirror, No 1/2022
Production 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
INDUSTRIAL PRODUCTION, y-o-y growth rates, %
Industry B+C+D 5.1 3.1 -5.2 4.1 1.6 -1.6 -17.5 -2.9 1.4 3.7 26.7 8.3 -1.1 4.1 -2.9 4.2 -5.6 -27.3 -19.0 -5.4 -5.9 -2.6 0.0 -1.4 2.1 4.0 -2.0 -2.1 15.0 35.5 26.5 19.6 5.8 11.8 8.1 3.7 - -
B Mining and quarrying -0.9 -3.4 -2.1 -10.9 -7.6 -13.7 -9.2 8.5 7.6 0.1 -2.7 -30.7 -2.2 -9.6 -15.3 -15.8 -10.8 -12.2 -13.5 -1.1 3.3 -3.3 25.3 -4.6 26.3 4.5 -14.7 4.8 7.4 -20.7 -3.4 15.9 -19.1 -30.0 -41.0 -6.6 - -
C Manufacturing 5.7 3.5 -5.0 4.9 2.3 -0.3 -17.9 -2.7 1.6 4.3 29.4 9.9 -0.4 4.5 -1.2 6.2 -5.3 -28.7 -19.3 -4.9 -5.7 -2.3 -0.1 -1.4 2.1 4.7 -1.4 -2.2 16.3 39.5 29.3 21.3 7.1 13.5 9.9 4.1 - -
D Electricity, gas & steam supply1 -0.3 -0.8 -9.1 -2.0 -4.7 -13.9 -13.1 -6.8 -2.1 -2.4 1.6 -3.0 -8.8 2.0 -17.6 -14.2 -9.3 -11.0 -15.6 -12.6 -9.8 -6.8 -3.8 -1.2 -1.0 -3.9 -7.5 -0.4 1.2 4.4 1.0 -0.6 -6.5 0.9 -3.5 1.2 - -
CONSTRUCTION2, real indices of construction put in place, y-o-y growth rates, %
Construction, total 20.0 3.4 -0.7 -5.9 -2.2 1.9 -13.4 2.7 6.1 -8.2 1.9 -4.8 -6.0 4.9 5.2 1.7 -0.5 -9.1 -14.8 -15.9 -0.2 1.1 7.1 0.3 17.3 -0.8 -8.7 -14.0 -2.8 1.9 -3.9 7.8 -8.2 -7.5 0.8 -10.7 - -
Buildings 17.2 -0.1 -0.6 0.1 -7.2 -26.3 -0.9 2.8 23.9 35.3 35.9 16.8 -8.9 4.8 11.9 -55.3 -15.5 3.7 5.6 -10.6 3.1 -7.8 13.4 14.7 41.1 18.6 10.1 52.1 50.4 40.8 27.2 40.3 27.3 2.4 19.4 -14.0 - -
Civil engineering 17.6 4.4 2.7 -1.6 -2.6 5.8 -9.1 4.8 9.6 4.2 12.6 6.7 -10.5 2.5 12.0 17.9 -7.2 -1.0 -9.2 -15.7 -6.5 11.5 10.2 0.0 26.7 -1.0 0.8 -10.0 20.4 1.7 3.3 33.4 7.6 -5.2 16.5 2.9 - -
MARKET SERVICES, year-on-year real growth rates, %
Services, total 7.4 2.2 -11.0 3.2 -0.9 -5.4 -22.5 -6.7 -9.2 -3.5 22.5 13.8 -2.2 0.5 -0.8 2.0 -16.0 -30.1 -24.6 -13.2 -7.8 -8.6 -3.8 -10.5 -8.0 -9.0 -15.8 -7.1 13.5 28.2 22.8 17.9 10.9 16.6 14.0 16.8 - -
Transportation and storage 7.0 3.2 -8.0 4.3 -2.8 -5.3 -21.2 -6.7 1.7 5.7 28.5 12.5 -4.6 -1.9 -2.7 0.3 -12.7 -27.2 -23.6 -13.0 -11.3 -10.6 1.6 -6.6 4.0 8.8 -8.9 0.9 25.3 40.3 26.9 20.4 10.7 16.0 11.4 11.1 - -
Information and communication 
activities 6.0 1.0 -0.2 -0.8 0.5 3.3 -7.1 2.4 0.6 2.1 11.7 6.6 -1.0 4.7 3.1 8.2 -0.6 -8.8 -10.6 -2.0 0.8 -1.7 7.8 3.7 0.3 -1.5 -4.4 5.4 5.6 11.5 13.6 10.0 3.6 11.5 5.3 8.9 - -
Professional, scientific and technical 
activities 13.0 5.8 -3.0 11.3 3.2 -0.2 -11.4 -0.2 -0.5 8.1 22.9 3.4 2.6 2.6 1.0 8.7 -8.5 -22.1 -11.3 -0.8 4.2 -2.5 -2.4 -4.3 0.4 1.9 -0.3 1.4 22.5 31.7 24.7 14.6 -2.8 2.1 10.7 5.5 - -
Administrative and support service 
activities 9.1 -5.9 -24.1 -6.9 -8.8 -17.1 -33.7 -23.2 -21.7 -7.9 14.8 24.2 -10.6 -6.5 -9.8 -11.1 -29.1 -38.2 -37.0 -25.8 -24.3 -21.2 -23.9 -25.5 -17.5 -21.9 -16.1 -14.8 9.1 15.2 15.0 14.2 22.8 22.3 27.3 27.0 - -
DISTRIBUTIVE TRADES, y-o-y growth rates, %
Total real turnover* 8.1 2.5 -7.4 2.2 -3.6 -5.1 -13.9 -2.7 -7.6 3.5 18.1 5.5 -4.9 -2.4 -1.3 1.3 -14.2 -28.0 -13.0 -0.2 -1.4 -5.0 -1.9 -6.6 -9.2 -7.0 -12.5 -3.9 27.7 33.3 15.5 9.2 -0.7 9.2 8.6 11.9 - -
Real turnover in retail trade 4.6 3.4 -8.9 4.1 -4.7 -5.3 -11.9 -6.3 -12.0 3.6 17.5 13.8 -3.8 -5.3 -1.7 0.6 -14.2 -22.3 -9.9 -3.2 -4.0 -8.1 -6.9 -10.5 -15.2 -10.4 -14.1 -1.0 28.2 23.2 15.6 14.5 8.4 14.4 19.1 32.8 - -
Real turnover in the sale and 
maintenance of motor vehicles 11.6 3.8 -13.9 0.0 3.6 -13.7 -25.9 3.8 -16.6 8.9 24.3 -9.0 0.9 6.4 2.9 0.5 -39.4 -59.8 -22.9 7.1 9.6 1.8 -0.7 -7.8 -19.7 -23.2 -19.2 -10.0 74.9 113.7 16.1 -5.1 -18.9 -2.7 -2.7 -7.9 - -
Nominal turnover in wholesale trade & 
commission trade 9.3 1.3 -3.6 1.6 -5.2 -1.4 -10.2 -2.1 -0.7 1.4 16.3 4.5 -7.9 -3.0 -2.6 2.1 -3.5 -18.6 -10.9 -0.8 -3.6 -4.4 1.4 -3.2 -0.5 1.8 -8.4 -3.5 14.9 23.5 15.2 11.2 -0.1 8.9 5.3 4.6 - -
TOURISM, y-o-y growth rates, %
Total, overnight stays 10.5 0.5 -41.7 -0.1 -5.6 -24.0 -82.9 -13.5 -72.8 -86.3 118.6 14.9 -7.8 -10.4 1.8 -2.5 -69.9 -98.8 -96.5 -63.3 -18.6 -14.3 -2.9 -49.4 -87.9 -91.1 -91.9 -89.4 -58.2 787.2 706.9 66.6 10.0 18.7 15.4 118.7 747.0 -
Domestic tourists, overnight stays -0.1 -2.5 32.8 -5.1 -4.1 -23.9 -56.3 172.1 -42.8 -82.4 126.7 -15.0 -7.4 -7.8 3.2 -9.0 -65.0 -99.6 -91.9 -4.0 154.4 163.8 217.7 24.6 -81.1 -86.1 -86.9 -87.7 -54.3 6626.2 762.7 71.1 -11.9 -14.6 -19.7 88.1 911.9 -
Foreign tourists, overnight stays 15.4 1.7 -70.5 1.4 -6.3 -24.1 -92.1 -65.7 -88.4 -89.0 103.3 81.8 -8.0 -11.8 1.0 3.7 -73.2 -98.5 -98.3 -83.7 -66.3 -64.2 -67.8 -82.4 -92.0 -93.9 -94.7 -90.9 -61.6 262.1 611.2 57.6 55.7 87.6 117.2 215.8 517.7 -
Accommodation and food service 
activities 7.1 7.6 -37.1 6.8 6.7 -15.4 -59.4 -12.9 -62.5 -60.0 49.2 19.5 5.7 4.5 7.9 6.7 -55.4 -85.4 -60.8 -36.6 -13.6 -12.7 -12.4 -43.8 -70.6 -74.8 -71.8 -66.2 -21.6 171.4 49.5 25.7 18.2 21.0 19.3 82.5 -
AGRICULTURE
Purchase of agricultural products, 
in EUR m 524.8 553.7 537.7 145.6 162.6 120.2 123.6 143.4 148.3 119.9 134.7 154.1 50.0 55.7 40.4 37.8 42.0 41.2 41.3 41.1 50.5 41.8 51.2 56.1 47.7 44.4 38.0 37.2 44.8 42.6 46.7 45.5 56.2 44.6 53.3 72.7 - -
BUSSINES TENDENCY (indicator values**)
Sentiment indicator 11.0 6.0 -11.8 5.4 3.3 1.8 -30.7 -8.8 -9.4 -3.6 4.3 5.6 2.5 3.3 4.5 4.9 -3.9 -37.5 -31.2 -23.3 -16.8 -5.9 -3.8 -6.0 -12.8 -9.3 -6.6 -3.3 -0.8 -0.6 5.7 7.7 5.7 6.5 4.7 2.3 3.1 5.0
Confidence indicator
in manufacturing 8 0 -9 0 -2 -3 -29 -3 1 7 10 10 -3 -3 -1 1 -9 -39 -27 -20 -11 -1 2 2 -1 1 5 5 10 9 12 10 10 11 8 3 6 10
in construction 22 11 -5 9 7 7 -23 -4 -1 9 18 19 8 7 9 7 5 -28 -28 -13 -7 -4 -2 0 -3 1 4 9 14 16 20 19 17 18 22 24 22 28
in services 24 21 -10 20 19 15 -34 -10 -10 -3 8 14 19 19 19 18 8 -38 -37 -28 -23 -5 -1 -3 -17 -11 -7 -2 -1 0 9 16 12 14 15 17 16 12
in retail trade 14 19 1 20 14 18 -19 11 -6 -17 16 14 6 19 18 31 6 -30 -22 -5 8 12 13 1 -10 -8 -22 -17 -11 5 17 26 15 20 6 -1 6 15
consumer confidence indicator -7 -10 -26 -10 -14 -14 -35 -25 -30 -24 -20 -20 -14 -14 -11 -13 -17 -39 -35 -30 -28 -22 -24 -29 -33 -29 -29 -21 -23 -25 -18 -17 -18 -20 -21 -25 -27 -24
Source: SURS. 
Notes: 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.
Statistical Appendix 29Slovenian Economic Mirror, No 1/2022
Production 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
INDUSTRIAL PRODUCTION, y-o-y growth rates, %
Industry B+C+D 5.1 3.1 -5.2 4.1 1.6 -1.6 -17.5 -2.9 1.4 3.7 26.7 8.3 -1.1 4.1 -2.9 4.2 -5.6 -27.3 -19.0 -5.4 -5.9 -2.6 0.0 -1.4 2.1 4.0 -2.0 -2.1 15.0 35.5 26.5 19.6 5.8 11.8 8.1 3.7 - -
B Mining and quarrying -0.9 -3.4 -2.1 -10.9 -7.6 -13.7 -9.2 8.5 7.6 0.1 -2.7 -30.7 -2.2 -9.6 -15.3 -15.8 -10.8 -12.2 -13.5 -1.1 3.3 -3.3 25.3 -4.6 26.3 4.5 -14.7 4.8 7.4 -20.7 -3.4 15.9 -19.1 -30.0 -41.0 -6.6 - -
C Manufacturing 5.7 3.5 -5.0 4.9 2.3 -0.3 -17.9 -2.7 1.6 4.3 29.4 9.9 -0.4 4.5 -1.2 6.2 -5.3 -28.7 -19.3 -4.9 -5.7 -2.3 -0.1 -1.4 2.1 4.7 -1.4 -2.2 16.3 39.5 29.3 21.3 7.1 13.5 9.9 4.1 - -
D Electricity, gas & steam supply1 -0.3 -0.8 -9.1 -2.0 -4.7 -13.9 -13.1 -6.8 -2.1 -2.4 1.6 -3.0 -8.8 2.0 -17.6 -14.2 -9.3 -11.0 -15.6 -12.6 -9.8 -6.8 -3.8 -1.2 -1.0 -3.9 -7.5 -0.4 1.2 4.4 1.0 -0.6 -6.5 0.9 -3.5 1.2 - -
CONSTRUCTION2, real indices of construction put in place, y-o-y growth rates, %
Construction, total 20.0 3.4 -0.7 -5.9 -2.2 1.9 -13.4 2.7 6.1 -8.2 1.9 -4.8 -6.0 4.9 5.2 1.7 -0.5 -9.1 -14.8 -15.9 -0.2 1.1 7.1 0.3 17.3 -0.8 -8.7 -14.0 -2.8 1.9 -3.9 7.8 -8.2 -7.5 0.8 -10.7 - -
Buildings 17.2 -0.1 -0.6 0.1 -7.2 -26.3 -0.9 2.8 23.9 35.3 35.9 16.8 -8.9 4.8 11.9 -55.3 -15.5 3.7 5.6 -10.6 3.1 -7.8 13.4 14.7 41.1 18.6 10.1 52.1 50.4 40.8 27.2 40.3 27.3 2.4 19.4 -14.0 - -
Civil engineering 17.6 4.4 2.7 -1.6 -2.6 5.8 -9.1 4.8 9.6 4.2 12.6 6.7 -10.5 2.5 12.0 17.9 -7.2 -1.0 -9.2 -15.7 -6.5 11.5 10.2 0.0 26.7 -1.0 0.8 -10.0 20.4 1.7 3.3 33.4 7.6 -5.2 16.5 2.9 - -
MARKET SERVICES, year-on-year real growth rates, %
Services, total 7.4 2.2 -11.0 3.2 -0.9 -5.4 -22.5 -6.7 -9.2 -3.5 22.5 13.8 -2.2 0.5 -0.8 2.0 -16.0 -30.1 -24.6 -13.2 -7.8 -8.6 -3.8 -10.5 -8.0 -9.0 -15.8 -7.1 13.5 28.2 22.8 17.9 10.9 16.6 14.0 16.8 - -
Transportation and storage 7.0 3.2 -8.0 4.3 -2.8 -5.3 -21.2 -6.7 1.7 5.7 28.5 12.5 -4.6 -1.9 -2.7 0.3 -12.7 -27.2 -23.6 -13.0 -11.3 -10.6 1.6 -6.6 4.0 8.8 -8.9 0.9 25.3 40.3 26.9 20.4 10.7 16.0 11.4 11.1 - -
Information and communication 
activities 6.0 1.0 -0.2 -0.8 0.5 3.3 -7.1 2.4 0.6 2.1 11.7 6.6 -1.0 4.7 3.1 8.2 -0.6 -8.8 -10.6 -2.0 0.8 -1.7 7.8 3.7 0.3 -1.5 -4.4 5.4 5.6 11.5 13.6 10.0 3.6 11.5 5.3 8.9 - -
Professional, scientific and technical 
activities 13.0 5.8 -3.0 11.3 3.2 -0.2 -11.4 -0.2 -0.5 8.1 22.9 3.4 2.6 2.6 1.0 8.7 -8.5 -22.1 -11.3 -0.8 4.2 -2.5 -2.4 -4.3 0.4 1.9 -0.3 1.4 22.5 31.7 24.7 14.6 -2.8 2.1 10.7 5.5 - -
Administrative and support service 
activities 9.1 -5.9 -24.1 -6.9 -8.8 -17.1 -33.7 -23.2 -21.7 -7.9 14.8 24.2 -10.6 -6.5 -9.8 -11.1 -29.1 -38.2 -37.0 -25.8 -24.3 -21.2 -23.9 -25.5 -17.5 -21.9 -16.1 -14.8 9.1 15.2 15.0 14.2 22.8 22.3 27.3 27.0 - -
DISTRIBUTIVE TRADES, y-o-y growth rates, %
Total real turnover* 8.1 2.5 -7.4 2.2 -3.6 -5.1 -13.9 -2.7 -7.6 3.5 18.1 5.5 -4.9 -2.4 -1.3 1.3 -14.2 -28.0 -13.0 -0.2 -1.4 -5.0 -1.9 -6.6 -9.2 -7.0 -12.5 -3.9 27.7 33.3 15.5 9.2 -0.7 9.2 8.6 11.9 - -
Real turnover in retail trade 4.6 3.4 -8.9 4.1 -4.7 -5.3 -11.9 -6.3 -12.0 3.6 17.5 13.8 -3.8 -5.3 -1.7 0.6 -14.2 -22.3 -9.9 -3.2 -4.0 -8.1 -6.9 -10.5 -15.2 -10.4 -14.1 -1.0 28.2 23.2 15.6 14.5 8.4 14.4 19.1 32.8 - -
Real turnover in the sale and 
maintenance of motor vehicles 11.6 3.8 -13.9 0.0 3.6 -13.7 -25.9 3.8 -16.6 8.9 24.3 -9.0 0.9 6.4 2.9 0.5 -39.4 -59.8 -22.9 7.1 9.6 1.8 -0.7 -7.8 -19.7 -23.2 -19.2 -10.0 74.9 113.7 16.1 -5.1 -18.9 -2.7 -2.7 -7.9 - -
Nominal turnover in wholesale trade & 
commission trade 9.3 1.3 -3.6 1.6 -5.2 -1.4 -10.2 -2.1 -0.7 1.4 16.3 4.5 -7.9 -3.0 -2.6 2.1 -3.5 -18.6 -10.9 -0.8 -3.6 -4.4 1.4 -3.2 -0.5 1.8 -8.4 -3.5 14.9 23.5 15.2 11.2 -0.1 8.9 5.3 4.6 - -
TOURISM, y-o-y growth rates, %
Total, overnight stays 10.5 0.5 -41.7 -0.1 -5.6 -24.0 -82.9 -13.5 -72.8 -86.3 118.6 14.9 -7.8 -10.4 1.8 -2.5 -69.9 -98.8 -96.5 -63.3 -18.6 -14.3 -2.9 -49.4 -87.9 -91.1 -91.9 -89.4 -58.2 787.2 706.9 66.6 10.0 18.7 15.4 118.7 747.0 -
Domestic tourists, overnight stays -0.1 -2.5 32.8 -5.1 -4.1 -23.9 -56.3 172.1 -42.8 -82.4 126.7 -15.0 -7.4 -7.8 3.2 -9.0 -65.0 -99.6 -91.9 -4.0 154.4 163.8 217.7 24.6 -81.1 -86.1 -86.9 -87.7 -54.3 6626.2 762.7 71.1 -11.9 -14.6 -19.7 88.1 911.9 -
Foreign tourists, overnight stays 15.4 1.7 -70.5 1.4 -6.3 -24.1 -92.1 -65.7 -88.4 -89.0 103.3 81.8 -8.0 -11.8 1.0 3.7 -73.2 -98.5 -98.3 -83.7 -66.3 -64.2 -67.8 -82.4 -92.0 -93.9 -94.7 -90.9 -61.6 262.1 611.2 57.6 55.7 87.6 117.2 215.8 517.7 -
Accommodation and food service 
activities 7.1 7.6 -37.1 6.8 6.7 -15.4 -59.4 -12.9 -62.5 -60.0 49.2 19.5 5.7 4.5 7.9 6.7 -55.4 -85.4 -60.8 -36.6 -13.6 -12.7 -12.4 -43.8 -70.6 -74.8 -71.8 -66.2 -21.6 171.4 49.5 25.7 18.2 21.0 19.3 82.5 -
AGRICULTURE
Purchase of agricultural products, 
in EUR m 524.8 553.7 537.7 145.6 162.6 120.2 123.6 143.4 148.3 119.9 134.7 154.1 50.0 55.7 40.4 37.8 42.0 41.2 41.3 41.1 50.5 41.8 51.2 56.1 47.7 44.4 38.0 37.2 44.8 42.6 46.7 45.5 56.2 44.6 53.3 72.7 - -
BUSSINES TENDENCY (indicator values**)
Sentiment indicator 11.0 6.0 -11.8 5.4 3.3 1.8 -30.7 -8.8 -9.4 -3.6 4.3 5.6 2.5 3.3 4.5 4.9 -3.9 -37.5 -31.2 -23.3 -16.8 -5.9 -3.8 -6.0 -12.8 -9.3 -6.6 -3.3 -0.8 -0.6 5.7 7.7 5.7 6.5 4.7 2.3 3.1 5.0
Confidence indicator
in manufacturing 8 0 -9 0 -2 -3 -29 -3 1 7 10 10 -3 -3 -1 1 -9 -39 -27 -20 -11 -1 2 2 -1 1 5 5 10 9 12 10 10 11 8 3 6 10
in construction 22 11 -5 9 7 7 -23 -4 -1 9 18 19 8 7 9 7 5 -28 -28 -13 -7 -4 -2 0 -3 1 4 9 14 16 20 19 17 18 22 24 22 28
in services 24 21 -10 20 19 15 -34 -10 -10 -3 8 14 19 19 19 18 8 -38 -37 -28 -23 -5 -1 -3 -17 -11 -7 -2 -1 0 9 16 12 14 15 17 16 12
in retail trade 14 19 1 20 14 18 -19 11 -6 -17 16 14 6 19 18 31 6 -30 -22 -5 8 12 13 1 -10 -8 -22 -17 -11 5 17 26 15 20 6 -1 6 15
consumer confidence indicator -7 -10 -26 -10 -14 -14 -35 -25 -30 -24 -20 -20 -14 -14 -11 -13 -17 -39 -35 -30 -28 -22 -24 -29 -33 -29 -29 -21 -23 -25 -18 -17 -18 -20 -21 -25 -27 -24
Source: SURS. 
Notes: 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.
Statistical Appendix30 Slovenian Economic Mirror, No 1/2022
Labour market 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
FORMAL LABOUR FORCE (A=B+E) 951.2 968.4 973.9 965.6 974.9 974.9 974.1 971.2 975.5 973.6 972.5 972.2 976.8 975.2 975.7 973.8 974.2 974.3 973.6 972.2 970.3 971.0 974.2 973.9 978.5 973.3 973.9 973.7 972.6 972.1 972.8 972.6 971.4 972.6 978.5
PERSONS IN FORMAL EMPLOYMENT 
(B=C+D)1 872.8 894.2 888.9 894.6 901.5 896.5 884.6 884.1 890.5 886.2 897.3 903.5 901.5 895.4 898.3 896.0 885.5 883.9 884.3 882.8 882.1 887.2 890.5 889.8 891.2 881.8 885.8 891.1 893.3 897.0 901.7 901.9 902.1 906.4 911.8
In agriculture, forestry, fishing 26.3 24.9 26.4 23.8 24.8 26.3 26.4 26.4 26.3 25.7 25.8 25.7 24.7 26.3 26.3 26.4 26.4 26.4 26.4 26.4 26.4 26.4 26.4 26.2 26.2 25.6 25.6 25.8 25.8 25.9 25.8 25.8 25.8 25.7 25.7
In industry, construction 280.9 291.7 288.5 292.7 294.0 291.2 288.0 286.0 288.9 288.4 293.1 295.4 294.4 290.5 291.2 291.9 289.1 288.0 286.9 286.3 285.3 286.3 287.4 288.4 290.9 286.1 288.3 290.8 291.8 292.7 294.8 295.3 294.9 296.1 298.5
- in manufacturing 202.6 207.9 202.8 207.6 208.4 206.2 202.6 200.1 202.5 202.8 205.4 205.9 208.8 206.2 206.3 205.9 203.8 202.6 201.3 200.1 199.7 200.4 201.1 202.3 204.1 201.7 202.7 203.9 204.8 205.1 206.2 205.8 205.6 206.3 207.9
- in construction 58.4 63.9 64.9 65.1 65.8 64.3 64.7 65.1 65.6 65.1 67.0 68.7 65.9 63.6 64.2 65.2 64.5 64.6 64.8 65.4 64.8 65.1 65.4 65.3 66.1 64.0 65.1 66.3 66.3 66.9 67.7 68.7 68.5 69.0 69.6
In services 565.7 577.6 574.0 578.0 582.8 579.0 570.2 571.7 575.3 572.1 578.4 582.3 582.4 578.6 580.8 577.7 570.1 569.5 570.9 570.1 570.4 574.5 576.7 575.1 574.1 570.1 571.9 574.5 575.7 578.4 581.1 580.9 581.4 584.6 587.7
- in public administration 49.0 49.0 49.3 49.0 49.2 49.0 49.2 49.4 49.6 49.3 49.7 49.6 49.1 48.9 49.0 49.1 49.1 49.2 49.3 49.3 49.3 49.5 49.5 49.5 49.6 49.1 49.3 49.4 49.6 49.7 49.6 49.6 49.7 49.7 49.9
- in education, health-services  
and social work 135.0 137.8 141.5 137.0 139.6 140.4 140.7 141.0 143.8 144.4 146.0 145.5 139.9 139.4 140.6 141.0 140.6 140.6 140.9 140.2 140.3 142.5 143.5 144.0 143.9 143.4 144.5 145.4 145.7 146.1 146.2 144.9 144.7 146.8 147.9
FORMALLY EMPLOYED (C)1 780.2 801.9 794.6 803.3 808.6 802.4 790.5 790.0 795.6 791.6 801.9 807.3 808.7 801.2 804.0 801.9 791.5 789.8 790.3 788.9 788.1 792.9 795.8 794.8 796.2 787.4 791.2 796.1 798.3 801.5 805.8 805.9 805.9 810.0 815.0
In enterprises and organisations 729.3 749.2 744.8 750.0 755.5 751.3 741.3 739.9 746.7 744.6 753.7 758.3 756.3 749.9 752.5 751.6 742.8 740.7 740.5 738.9 738.1 742.6 745.9 745.9 748.3 740.8 744.3 748.8 750.6 753.4 757.1 757.0 756.9 761.0 766.0
By those self-employed 50.9 52.7 49.8 53.4 53.2 51.1 49.2 50.1 48.9 46.9 48.2 49.0 52.4 51.4 51.5 50.3 48.7 49.1 49.7 50.0 49.9 50.3 49.9 49.0 47.9 46.6 46.8 47.3 47.6 48.2 48.8 49.0 49.0 49.0 49.0
SELF-EMPLOYED AND FARMERS (D) 92.6 92.3 94.3 91.2 92.9 94.1 94.0 94.1 94.9 94.7 95.5 96.2 92.9 94.1 94.2 94.1 94.0 94.1 94.0 94.0 94.1 94.3 94.8 94.9 95.0 94.4 94.7 94.9 95.1 95.4 95.8 96.0 96.2 96.5 96.9
REGISTERED UNEMPLOYMENT (E) 78.5 74.2 85.0 71.1 73.4 78.4 89.5 87.1 85.0 87.4 75.2 68.7 75.3 79.8 77.5 77.9 88.6 90.4 89.4 89.4 88.2 83.8 83.7 84.1 87.3 91.5 88.1 82.6 79.3 75.1 71.1 70.7 69.3 66.1 66.7 65.4 66.0
Female 39.9 37.5 42.6 36.6 36.8 38.3 45.0 44.1 43.0 44.1 38.6 35.4 36.9 38.6 37.8 38.5 44.4 45.6 45.1 45.3 44.7 42.2 42.3 43.0 43.8 45.7 44.2 42.3 40.8 38.5 36.4 36.5 35.9 33.8 34.1 33.4 33.0
By age: 15 to 29 15.1 14.1 17.2 12.6 15.0 15.3 18.3 17.1 18.0 17.7 14.1 12.0 15.2 15.6 15.1 15.3 18.2 18.6 18.1 17.8 17.2 16.2 17.9 17.7 18.3 18.9 17.8 16.4 15.3 14.1 12.9 12.4 12.1 11.5 13.1 12.7 12.7
Aged over 50 31.5 29.7 31.0 29.0 28.7 30.6 31.9 31.3 30.3 31.6 28.7 27.1 29.3 31.2 30.4 30.1 31.8 32.0 31.8 31.8 31.5 30.6 30.1 30.1 30.9 32.6 31.7 30.4 29.6 28.7 27.7 27.7 27.2 26.3 25.9 25.3 25.4
Primary education or less 24.3 23.4 26.4 22.1 23.0 25.2 27.8 26.6 26.1 27.5 23.7 21.6 24.2 25.9 25.1 24.7 27.6 28.0 27.6 27.3 26.8 25.8 25.4 25.6 27.3 28.9 27.8 25.9 24.9 23.7 22.4 22.0 21.6 21.1 21.0 20.7 21.5
For more than 1 year 40.6 38.1 38.0 37.9 37.2 37.3 37.5 38.1 38.9 41.5 41.9 40.2 36.8 37.8 37.3 36.8 37.1 37.6 37.8 38.0 38.1 38.2 38.5 38.7 39.4 41.3 41.3 41.9 42.3 41.9 41.4 40.8 40.3 39.6 39.3 38.3 37.2
Those receiving benefits 20.0 19.3 25.9 17.9 18.5 24.5 29.8 25.6 24.0 25.1 17.6 16.7 18.5 25.6 24.1 23.7 28.0 31.2 30.0 27.4 26.2 23.2 23.1 23.5 25.2 28.0 25.4 22.0 18.9 17.4 16.4 17.1 16.6 16.4 15.9 15.9
RATE OF REGISTERED 
UNEMPLOYMENT, E/A, in % 8.3 7.7 8.7 7.4 7.5 8.0 9.2 9.0 8.7 9.0 7.7 7.1 7.7 8.2 7.9 8.0 9.1 9.3 9.2 9.2 9.1 8.6 8.6 8.6 8.9 9.4 9.0 8.5 8.5 7.7 7.3 7.3 7.1 6.8 6.8
Male 7.5 6.9 8.0 6.5 6.8 7.5 8.4 8.1 7.9 8.2 6.9 6.3 7.2 7.7 7.5 7.4 8.3 8.4 8.4 8.3 8.2 7.9 7.8 7.8 8.1 8.7 8.3 7.6 7.3 6.9 6.5 6.4 6.3 6.1 6.1
Female 9.2 8.5 9.6 8.4 8.3 8.6 10.2 10.0 9.7 9.9 8.7 8.0 8.4 8.7 8.5 8.7 10.0 10.3 10.2 10.2 10.1 9.5 9.5 9.7 9.9 10.3 10.0 9.5 9.2 8.7 8.2 8.3 8.1 7.7 7.7
FLOWS OF FORMAL LABOUR FORCE -6.5 -0.3 1.0 -0.3 1.8 0.9 3.8 -1.9 1.2 -1.5 -3.8 -1.7 2.9 4.5 -2.4 0.4 10.8 1.8 -1.0 0.0 -1.2 -4.4 -0.1 0.5 3.1 4.2 -3.4 -5.4 -3.4 -4.1 -4.1 -0.4 -1.4 -3.2 0.5 -1.3 0.6
New unemployed first-job seekers 11.4 0.8 0.8 0.6 1.6 0.6 0.5 0.6 1.5 0.5 0.3 0.4 0.5 0.7 0.6 0.5 0.5 0.4 0.6 0.5 0.4 1.0 3.4 0.7 0.5 0.5 0.4 0.5 0.3 0.3 0.3 0.2 0.3 0.7 2.6 0.7 0.4
Redundancies 65.1 5.4 7.4 4.8 6.2 7.5 9.5 6.0 6.4 6.0 3.3 4.1 7.4 10.6 4.6 7.4 13.9 7.5 7.0 7.7 4.9 5.5 5.5 6.6 7.2 9.9 4.3 4.0 3.5 3.3 3.1 5.1 3.4 3.8 4.1 4.2 5.4
Registered unemployed who found 
employment 61.5 4.7 5.4 3.9 3.9 5.5 4.8 6.5 4.6 6.4 5.7 4.3 3.2 4.7 5.8 6.0 2.4 5.0 7.0 6.5 4.9 8.1 6.4 4.6 2.9 4.6 6.7 8.0 5.6 5.9 5.7 4.1 3.3 5.7 4.1 3.8 2.9
Other outflows from unemployment (net) 21.6 1.8 1.8 1.8 2.1 1.7 1.3 2.0 2.2 1.8 1.8 1.9 1.8 2.0 1.7 1.4 1.3 1.1 1.6 1.7 1.6 2.8 2.6 2.3 1.7 1.7 1.6 2.0 1.6 1.9 1.9 1.8 1.9 2.1 2.3 2.4 2.5
FIXED TERM WORK PERMITS FOR 
FOREIGNERS 24.0 33.1 37.6 34.2 35.7 35.6 34.9 37.7 38.1 38.8 40.7 42.7 36.6 37.2 36.6 37.0 37.5 37.5 37.6 37.6 37.9 37.5 37.7 38.2 38.4 38.4 38.8 39.1 40.0 40.8 41.4 42.0 42.6 43.6 44.2 45.0
As % of labour force 2.5 3.4 3.9 3.5 3.7 3.6 3.6 3.9 3.9 4.0 4.2 4.4 3.7 3.8 3.7 3.8 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 4.0 4.0 4.1 4.2 4.3 4.3 4.4 4.5 4.5
Sources: SURS, PDII, ESS.
Notes: 1 In January 2005, the SURS 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. 
Statistical Appendix 31Slovenian Economic Mirror, No 1/2022
Labour market 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
FORMAL LABOUR FORCE (A=B+E) 951.2 968.4 973.9 965.6 974.9 974.9 974.1 971.2 975.5 973.6 972.5 972.2 976.8 975.2 975.7 973.8 974.2 974.3 973.6 972.2 970.3 971.0 974.2 973.9 978.5 973.3 973.9 973.7 972.6 972.1 972.8 972.6 971.4 972.6 978.5
PERSONS IN FORMAL EMPLOYMENT 
(B=C+D)1 872.8 894.2 888.9 894.6 901.5 896.5 884.6 884.1 890.5 886.2 897.3 903.5 901.5 895.4 898.3 896.0 885.5 883.9 884.3 882.8 882.1 887.2 890.5 889.8 891.2 881.8 885.8 891.1 893.3 897.0 901.7 901.9 902.1 906.4 911.8
In agriculture, forestry, fishing 26.3 24.9 26.4 23.8 24.8 26.3 26.4 26.4 26.3 25.7 25.8 25.7 24.7 26.3 26.3 26.4 26.4 26.4 26.4 26.4 26.4 26.4 26.4 26.2 26.2 25.6 25.6 25.8 25.8 25.9 25.8 25.8 25.8 25.7 25.7
In industry, construction 280.9 291.7 288.5 292.7 294.0 291.2 288.0 286.0 288.9 288.4 293.1 295.4 294.4 290.5 291.2 291.9 289.1 288.0 286.9 286.3 285.3 286.3 287.4 288.4 290.9 286.1 288.3 290.8 291.8 292.7 294.8 295.3 294.9 296.1 298.5
- in manufacturing 202.6 207.9 202.8 207.6 208.4 206.2 202.6 200.1 202.5 202.8 205.4 205.9 208.8 206.2 206.3 205.9 203.8 202.6 201.3 200.1 199.7 200.4 201.1 202.3 204.1 201.7 202.7 203.9 204.8 205.1 206.2 205.8 205.6 206.3 207.9
- in construction 58.4 63.9 64.9 65.1 65.8 64.3 64.7 65.1 65.6 65.1 67.0 68.7 65.9 63.6 64.2 65.2 64.5 64.6 64.8 65.4 64.8 65.1 65.4 65.3 66.1 64.0 65.1 66.3 66.3 66.9 67.7 68.7 68.5 69.0 69.6
In services 565.7 577.6 574.0 578.0 582.8 579.0 570.2 571.7 575.3 572.1 578.4 582.3 582.4 578.6 580.8 577.7 570.1 569.5 570.9 570.1 570.4 574.5 576.7 575.1 574.1 570.1 571.9 574.5 575.7 578.4 581.1 580.9 581.4 584.6 587.7
- in public administration 49.0 49.0 49.3 49.0 49.2 49.0 49.2 49.4 49.6 49.3 49.7 49.6 49.1 48.9 49.0 49.1 49.1 49.2 49.3 49.3 49.3 49.5 49.5 49.5 49.6 49.1 49.3 49.4 49.6 49.7 49.6 49.6 49.7 49.7 49.9
- in education, health-services  
and social work 135.0 137.8 141.5 137.0 139.6 140.4 140.7 141.0 143.8 144.4 146.0 145.5 139.9 139.4 140.6 141.0 140.6 140.6 140.9 140.2 140.3 142.5 143.5 144.0 143.9 143.4 144.5 145.4 145.7 146.1 146.2 144.9 144.7 146.8 147.9
FORMALLY EMPLOYED (C)1 780.2 801.9 794.6 803.3 808.6 802.4 790.5 790.0 795.6 791.6 801.9 807.3 808.7 801.2 804.0 801.9 791.5 789.8 790.3 788.9 788.1 792.9 795.8 794.8 796.2 787.4 791.2 796.1 798.3 801.5 805.8 805.9 805.9 810.0 815.0
In enterprises and organisations 729.3 749.2 744.8 750.0 755.5 751.3 741.3 739.9 746.7 744.6 753.7 758.3 756.3 749.9 752.5 751.6 742.8 740.7 740.5 738.9 738.1 742.6 745.9 745.9 748.3 740.8 744.3 748.8 750.6 753.4 757.1 757.0 756.9 761.0 766.0
By those self-employed 50.9 52.7 49.8 53.4 53.2 51.1 49.2 50.1 48.9 46.9 48.2 49.0 52.4 51.4 51.5 50.3 48.7 49.1 49.7 50.0 49.9 50.3 49.9 49.0 47.9 46.6 46.8 47.3 47.6 48.2 48.8 49.0 49.0 49.0 49.0
SELF-EMPLOYED AND FARMERS (D) 92.6 92.3 94.3 91.2 92.9 94.1 94.0 94.1 94.9 94.7 95.5 96.2 92.9 94.1 94.2 94.1 94.0 94.1 94.0 94.0 94.1 94.3 94.8 94.9 95.0 94.4 94.7 94.9 95.1 95.4 95.8 96.0 96.2 96.5 96.9
REGISTERED UNEMPLOYMENT (E) 78.5 74.2 85.0 71.1 73.4 78.4 89.5 87.1 85.0 87.4 75.2 68.7 75.3 79.8 77.5 77.9 88.6 90.4 89.4 89.4 88.2 83.8 83.7 84.1 87.3 91.5 88.1 82.6 79.3 75.1 71.1 70.7 69.3 66.1 66.7 65.4 66.0
Female 39.9 37.5 42.6 36.6 36.8 38.3 45.0 44.1 43.0 44.1 38.6 35.4 36.9 38.6 37.8 38.5 44.4 45.6 45.1 45.3 44.7 42.2 42.3 43.0 43.8 45.7 44.2 42.3 40.8 38.5 36.4 36.5 35.9 33.8 34.1 33.4 33.0
By age: 15 to 29 15.1 14.1 17.2 12.6 15.0 15.3 18.3 17.1 18.0 17.7 14.1 12.0 15.2 15.6 15.1 15.3 18.2 18.6 18.1 17.8 17.2 16.2 17.9 17.7 18.3 18.9 17.8 16.4 15.3 14.1 12.9 12.4 12.1 11.5 13.1 12.7 12.7
Aged over 50 31.5 29.7 31.0 29.0 28.7 30.6 31.9 31.3 30.3 31.6 28.7 27.1 29.3 31.2 30.4 30.1 31.8 32.0 31.8 31.8 31.5 30.6 30.1 30.1 30.9 32.6 31.7 30.4 29.6 28.7 27.7 27.7 27.2 26.3 25.9 25.3 25.4
Primary education or less 24.3 23.4 26.4 22.1 23.0 25.2 27.8 26.6 26.1 27.5 23.7 21.6 24.2 25.9 25.1 24.7 27.6 28.0 27.6 27.3 26.8 25.8 25.4 25.6 27.3 28.9 27.8 25.9 24.9 23.7 22.4 22.0 21.6 21.1 21.0 20.7 21.5
For more than 1 year 40.6 38.1 38.0 37.9 37.2 37.3 37.5 38.1 38.9 41.5 41.9 40.2 36.8 37.8 37.3 36.8 37.1 37.6 37.8 38.0 38.1 38.2 38.5 38.7 39.4 41.3 41.3 41.9 42.3 41.9 41.4 40.8 40.3 39.6 39.3 38.3 37.2
Those receiving benefits 20.0 19.3 25.9 17.9 18.5 24.5 29.8 25.6 24.0 25.1 17.6 16.7 18.5 25.6 24.1 23.7 28.0 31.2 30.0 27.4 26.2 23.2 23.1 23.5 25.2 28.0 25.4 22.0 18.9 17.4 16.4 17.1 16.6 16.4 15.9 15.9
RATE OF REGISTERED 
UNEMPLOYMENT, E/A, in % 8.3 7.7 8.7 7.4 7.5 8.0 9.2 9.0 8.7 9.0 7.7 7.1 7.7 8.2 7.9 8.0 9.1 9.3 9.2 9.2 9.1 8.6 8.6 8.6 8.9 9.4 9.0 8.5 8.5 7.7 7.3 7.3 7.1 6.8 6.8
Male 7.5 6.9 8.0 6.5 6.8 7.5 8.4 8.1 7.9 8.2 6.9 6.3 7.2 7.7 7.5 7.4 8.3 8.4 8.4 8.3 8.2 7.9 7.8 7.8 8.1 8.7 8.3 7.6 7.3 6.9 6.5 6.4 6.3 6.1 6.1
Female 9.2 8.5 9.6 8.4 8.3 8.6 10.2 10.0 9.7 9.9 8.7 8.0 8.4 8.7 8.5 8.7 10.0 10.3 10.2 10.2 10.1 9.5 9.5 9.7 9.9 10.3 10.0 9.5 9.2 8.7 8.2 8.3 8.1 7.7 7.7
FLOWS OF FORMAL LABOUR FORCE -6.5 -0.3 1.0 -0.3 1.8 0.9 3.8 -1.9 1.2 -1.5 -3.8 -1.7 2.9 4.5 -2.4 0.4 10.8 1.8 -1.0 0.0 -1.2 -4.4 -0.1 0.5 3.1 4.2 -3.4 -5.4 -3.4 -4.1 -4.1 -0.4 -1.4 -3.2 0.5 -1.3 0.6
New unemployed first-job seekers 11.4 0.8 0.8 0.6 1.6 0.6 0.5 0.6 1.5 0.5 0.3 0.4 0.5 0.7 0.6 0.5 0.5 0.4 0.6 0.5 0.4 1.0 3.4 0.7 0.5 0.5 0.4 0.5 0.3 0.3 0.3 0.2 0.3 0.7 2.6 0.7 0.4
Redundancies 65.1 5.4 7.4 4.8 6.2 7.5 9.5 6.0 6.4 6.0 3.3 4.1 7.4 10.6 4.6 7.4 13.9 7.5 7.0 7.7 4.9 5.5 5.5 6.6 7.2 9.9 4.3 4.0 3.5 3.3 3.1 5.1 3.4 3.8 4.1 4.2 5.4
Registered unemployed who found 
employment 61.5 4.7 5.4 3.9 3.9 5.5 4.8 6.5 4.6 6.4 5.7 4.3 3.2 4.7 5.8 6.0 2.4 5.0 7.0 6.5 4.9 8.1 6.4 4.6 2.9 4.6 6.7 8.0 5.6 5.9 5.7 4.1 3.3 5.7 4.1 3.8 2.9
Other outflows from unemployment (net) 21.6 1.8 1.8 1.8 2.1 1.7 1.3 2.0 2.2 1.8 1.8 1.9 1.8 2.0 1.7 1.4 1.3 1.1 1.6 1.7 1.6 2.8 2.6 2.3 1.7 1.7 1.6 2.0 1.6 1.9 1.9 1.8 1.9 2.1 2.3 2.4 2.5
FIXED TERM WORK PERMITS FOR 
FOREIGNERS 24.0 33.1 37.6 34.2 35.7 35.6 34.9 37.7 38.1 38.8 40.7 42.7 36.6 37.2 36.6 37.0 37.5 37.5 37.6 37.6 37.9 37.5 37.7 38.2 38.4 38.4 38.8 39.1 40.0 40.8 41.4 42.0 42.6 43.6 44.2 45.0
As % of labour force 2.5 3.4 3.9 3.5 3.7 3.6 3.6 3.9 3.9 4.0 4.2 4.4 3.7 3.8 3.7 3.8 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9 4.0 4.0 4.1 4.2 4.3 4.3 4.4 4.5 4.5
Sources: SURS, PDII, ESS.
Notes: 1 In January 2005, the SURS 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. 
Statistical Appendix32 Slovenian Economic Mirror, No 1/2022
Wages
in EUR
2018 2019 2020
2019 2020 2021 2020 2021
2020 Q3 21 Oct21 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10
GROSS WAGE PER EMPLOYEE, nominal in € y-o-y growth rates, %
TOTAL 1,856 1,905 1,886 3.4 4.3 5.8 4.5 4.2 3.2 8.8 4.8 6.7 10.6 5.7 5.4 5.0 0.3 11.9 9.5 5.5 4.3 5.0 5.1 4.6 6.8 8.9 9.4 8.1 14.3 3.0 6.1 7.7 7.1 4.8 4.1 3.6
Private sector activities (A–N; R–S) 1,750 1,818 1,807 3.8 3.6 3.8 4.0 3.1 2.8 5.5 3.9 3.2 6.1 3.9 5.9 5.5 -1.3 7.9 5.5 3.6 2.8 4.3 4.7 2.6 2.9 4.2 3.2 3.6 11.8 2.1 2.4 7.1 6.1 5.9 5.7 5.4
Public service activities (OPQ) 2,187 2,178 2,137 2.4 6.5 10.5 6.0 7.6 4.2 15.8 6.3 16.0 20.9 10.3 4.2 3.4 4.8 20.7 17.5 9.6 7.4 6.2 5.2 9.1 17.7 21.3 24.3 18.9 19.4 5.5 15.9 9.1 9.8 2.4 0.2 -0.9
Industry (B–E) 1,815 1,882 1,853 3.8 3.4 3.4 3.9 3.0 4.3 3.5 3.1 2.7 4.2 5.3 6.5 6.6 1.2 6.1 2.6 2.2 1.1 3.8 4.6 2.7 1.6 4.0 1.6 2.0 9.3 3.0 4.0 8.5 7.0 6.4 6.1 3.8
Trad, market services (GHI) 1,583 1,650 1,659 4.0 3.4 2.8 3.8 2.5 1.1 4.9 3.8 1.9 6.8 3.4 5.3 4.7 -4.9 7.4 6.0 2.1 3.7 3.5 4.1 1.5 1.6 3.1 2.4 4.0 14.2 1.6 1.6 6.5 4.9 5.9 5.3 7.5
Other market services (J–N; R–S) 1,979 2,048 2,036 3.9 5.1 5.0 5.4 4.8 3.2 7.7 5.1 4.3 7.3 3.3 5.5 5.4 -1.2 8.9 7.6 6.7 4.1 5.9 5.3 3.6 4.9 4.5 5.2 4.6 12.1 2.5 1.6 5.6 6.2 4.9 5.3 5.5
A Agriculture, forestry and fishing 1,489 1,544 1,564 5.3 3.0 4.6 3.8 0.3 5.2 7.7 3.5 2.4 1.8 0.9 4.9 6.6 5.0 9.0 8.2 6.0 1.9 3.7 5.0 -1.9 5.5 3.8 -1.5 2.4 4.6 -0.5 -2.1 5.3 5.7 5.9 3.1 5.5
B Mining and quarrying 2,360 2,429 2,343 7.6 0.3 5.1 2.6 3.8 4.3 9.8 2.8 3.7 -3.2 -2.9 6.1 8.2 3.7 14.4 9.2 6.0 -0.9 7.6 1.9 1.9 5.1 4.2 -2.3 -7.3 0.2 -6.8 -4.4 2.8 7.5 3.9 7.0 0.2
C Manufacturing 1,772 1,847 1,819 3.9 3.5 3.2 3.9 2.9 4.2 2.8 3.0 2.7 4.6 6.1 7.0 6.9 0.6 5.3 1.9 1.6 0.8 3.8 4.6 2.8 1.4 4.1 1.8 2.1 10.1 3.3 4.8 10.1 7.5 6.8 6.6 4.1
D Electricity, gas, steam and air 
conditioning supply 2,734 2,686 2,643 2.9 4.3 4.0 4.7 5.6 6.4 5.3 3.2 1.5 -0.7 0.6 2.3 5.3 6.9 7.2 4.1 4.6 3.3 2.5 3.9 1.3 1.8 1.4 -2.3 0.0 0.3 8.7 1.9 -8.0 2.4 3.3 1.2 1.5
E Water supply sewerage, waste 
management and remediation 
activities
1,739 1,784 1,770 3.0 2.7 4.2 3.9 1.6 2.9 7.7 3.6 3.0 4.1 2.9 4.6 3.5 3.6 11.2 6.9 5.2 1.7 3.2 5.9 1.4 4.4 3.1 1.7 3.3 7.5 2.2 0.6 5.8 5.1 4.7 3.9 3.5
F Constrution 1,390 1,495 1,498 4.2 2.2 5.5 2.8 2.3 2.0 9.4 5.2 5.7 8.9 3.6 7.5 3.9 -1.4 11.5 11.1 6.0 4.8 4.2 6.7 3.9 6.5 6.6 4.7 6.7 15.5 1.3 1.0 8.4 6.9 8.0 7.6 7.0
G Wholesale and retail trade, repair of 
motor vehicles and motorcycles 1,676 1,732 1,740 4.2 3.9 4.2 4.5 3.2 2.3 6.1 4.8 3.9 5.9 3.0 5.2 5.5 -3.1 6.9 7.6 4.3 5.9 4.4 4.2 3.4 3.5 5.2 2.4 3.6 11.7 2.3 1.0 5.6 4.2 5.8 5.5 6.3
H Transportation and storage 1,565 1,623 1,643 3.3 1.6 -0.1 2.0 -0.2 0.3 1.1 1.0 -2.4 2.7 2.7 4.6 2.8 -2.9 3.3 1.6 -1.2 -1.1 0.5 3.8 0.1 -2.7 -4.4 -0.4 1.1 7.7 1.0 1.8 4.9 5.0 5.3 3.4 6.0
I Accommodation and food service 
activities 1,180 1,371 1,370 4.9 4.8 -3.8 4.3 5.2 -3.0 -5.9 2.2 -9.5 4.9 12.2 9.7 4.7 -18.8 -0.1 -8.9 -6.8 1.1 3.8 1.7 -8.5 -13.0 -5.6 -4.9 -2.9 27.8 2.7 14.0 16.8 10.3 8.8 9.8 22.2
J Information and communication 2,480 2,567 2,516 4.1 5.7 4.5 4.6 5.4 4.0 6.5 4.1 3.6 4.5 3.4 5.6 5.1 1.2 6.7 5.8 6.9 4.1 4.3 3.8 4.1 4.3 2.6 0.5 4.9 7.9 2.7 1.7 5.6 5.2 6.2 5.3 3.1
K Financial and insurance activities 2,658 2,647 2,644 4.8 4.6 2.5 5.3 4.3 2.7 4.1 2.3 0.8 5.7 2.9 4.2 7.7 -3.1 6.4 -0.4 6.5 0.9 3.6 2.4 2.3 0.5 0.0 4.0 0.7 11.2 3.0 5.7 0.1 5.1 2.2 5.3 5.0
L Real estate activities 1,676 1,711 1,715 0.9 5.2 4.2 5.4 5.5 3.6 7.9 4.5 1.3 4.0 0.1 3.6 4.6 0.7 7.9 10.6 5.3 5.1 4.8 3.7 3.2 1.4 -0.2 1.7 3.7 6.7 0.6 -1.6 1.1 4.3 2.9 3.7 4.0
M Professional, scientific and  
technical activities 2,048 2,147 2,115 4.2 4.6 4.0 5.0 5.0 2.4 6.3 4.0 3.5 7.2 4.0 6.1 3.4 -1.5 5.9 7.8 5.4 3.1 4.2 4.8 1.6 3.1 5.7 4.6 5.1 12.2 4.5 1.1 6.3 6.3 6.2 5.6 6.0
N Administrative and support  
service activities 1,258 1,319 1,323 5.8 5.1 4.7 6.1 3.6 4.0 7.4 3.9 4.1 5.2 3.0 6.6 5.9 1.2 9.3 9.0 4.1 1.8 5.3 4.6 2.3 9.2 0.9 6.3 1.2 8.4 0.7 0.6 7.6 8.3 4.8 6.8 7.6
O Public administration and defence, 
compulsory social security 2,352 2,363 2,315 3.2 8.9 7.4 8.6 8.1 3.0 14.2 3.6 9.0 16.0 10.3 2.9 2.1 2.6 11.8 18.1 12.8 2.7 4.4 3.9 6.2 7.0 13.7 17.2 15.5 15.3 10.6 14.8 5.3 3.1 3.1 2.7 0.1
P Education 1,951 2,118 2,045 0.9 6.1 6.2 5.3 8.1 3.8 6.4 8.3 6.5 10.1 16.1 8.2 4.1 2.8 8.9 4.9 5.6 10.2 7.2 7.4 7.5 3.9 8.4 13.4 6.2 10.7 7.8 25.4 15.0 21.2 4.8 -1.3 3.7
Q Human health and social work 
activities 2,323 2,105 2,105 3.4 5.1 17.7 4.5 6.9 5.7 26.5 6.6 31.4 36.2 5.7 1.2 4.0 9.0 38.4 30.6 11.3 9.0 6.9 4.0 13.6 40.2 39.8 41.9 35.5 31.3 1.8 8.7 6.6 3.9 -0.5 0.0 -6.1
R Arts, entertainment and recreation 1,778 1,951 2,006 1.7 4.3 0.0 3.8 5.4 -1.1 -2.4 4.5 -1.1 7.5 11.7 7.3 3.0 -9.1 -0.9 -1.4 -4.2 4.4 3.9 5.3 2.4 -6.0 0.7 5.0 0.9 17.9 8.8 7.8 17.7 10.0 7.3 4.7 11.2
S Other service activities 1,491 1,518 1,535 1.2 4.7 4.5 4.5 6.1 0.1 12.3 3.7 3.0 8.9 -1.9 3.6 2.3 -5.0 17.8 15.1 5.1 3.5 4.1 3.4 1.2 1.8 6.2 5.9 6.8 14.2 -5.1 -5.0 4.0 4.1 3.0 3.7 5.8
Source: SURS, calculations by IMAD.
Statistical Appendix 33Slovenian Economic Mirror, No 1/2022
Wages
in EUR
2018 2019 2020
2019 2020 2021 2020 2021
2020 Q3 21 Oct21 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10
GROSS WAGE PER EMPLOYEE, nominal in € y-o-y growth rates, %
TOTAL 1,856 1,905 1,886 3.4 4.3 5.8 4.5 4.2 3.2 8.8 4.8 6.7 10.6 5.7 5.4 5.0 0.3 11.9 9.5 5.5 4.3 5.0 5.1 4.6 6.8 8.9 9.4 8.1 14.3 3.0 6.1 7.7 7.1 4.8 4.1 3.6
Private sector activities (A–N; R–S) 1,750 1,818 1,807 3.8 3.6 3.8 4.0 3.1 2.8 5.5 3.9 3.2 6.1 3.9 5.9 5.5 -1.3 7.9 5.5 3.6 2.8 4.3 4.7 2.6 2.9 4.2 3.2 3.6 11.8 2.1 2.4 7.1 6.1 5.9 5.7 5.4
Public service activities (OPQ) 2,187 2,178 2,137 2.4 6.5 10.5 6.0 7.6 4.2 15.8 6.3 16.0 20.9 10.3 4.2 3.4 4.8 20.7 17.5 9.6 7.4 6.2 5.2 9.1 17.7 21.3 24.3 18.9 19.4 5.5 15.9 9.1 9.8 2.4 0.2 -0.9
Industry (B–E) 1,815 1,882 1,853 3.8 3.4 3.4 3.9 3.0 4.3 3.5 3.1 2.7 4.2 5.3 6.5 6.6 1.2 6.1 2.6 2.2 1.1 3.8 4.6 2.7 1.6 4.0 1.6 2.0 9.3 3.0 4.0 8.5 7.0 6.4 6.1 3.8
Trad, market services (GHI) 1,583 1,650 1,659 4.0 3.4 2.8 3.8 2.5 1.1 4.9 3.8 1.9 6.8 3.4 5.3 4.7 -4.9 7.4 6.0 2.1 3.7 3.5 4.1 1.5 1.6 3.1 2.4 4.0 14.2 1.6 1.6 6.5 4.9 5.9 5.3 7.5
Other market services (J–N; R–S) 1,979 2,048 2,036 3.9 5.1 5.0 5.4 4.8 3.2 7.7 5.1 4.3 7.3 3.3 5.5 5.4 -1.2 8.9 7.6 6.7 4.1 5.9 5.3 3.6 4.9 4.5 5.2 4.6 12.1 2.5 1.6 5.6 6.2 4.9 5.3 5.5
A Agriculture, forestry and fishing 1,489 1,544 1,564 5.3 3.0 4.6 3.8 0.3 5.2 7.7 3.5 2.4 1.8 0.9 4.9 6.6 5.0 9.0 8.2 6.0 1.9 3.7 5.0 -1.9 5.5 3.8 -1.5 2.4 4.6 -0.5 -2.1 5.3 5.7 5.9 3.1 5.5
B Mining and quarrying 2,360 2,429 2,343 7.6 0.3 5.1 2.6 3.8 4.3 9.8 2.8 3.7 -3.2 -2.9 6.1 8.2 3.7 14.4 9.2 6.0 -0.9 7.6 1.9 1.9 5.1 4.2 -2.3 -7.3 0.2 -6.8 -4.4 2.8 7.5 3.9 7.0 0.2
C Manufacturing 1,772 1,847 1,819 3.9 3.5 3.2 3.9 2.9 4.2 2.8 3.0 2.7 4.6 6.1 7.0 6.9 0.6 5.3 1.9 1.6 0.8 3.8 4.6 2.8 1.4 4.1 1.8 2.1 10.1 3.3 4.8 10.1 7.5 6.8 6.6 4.1
D Electricity, gas, steam and air 
conditioning supply 2,734 2,686 2,643 2.9 4.3 4.0 4.7 5.6 6.4 5.3 3.2 1.5 -0.7 0.6 2.3 5.3 6.9 7.2 4.1 4.6 3.3 2.5 3.9 1.3 1.8 1.4 -2.3 0.0 0.3 8.7 1.9 -8.0 2.4 3.3 1.2 1.5
E Water supply sewerage, waste 
management and remediation 
activities
1,739 1,784 1,770 3.0 2.7 4.2 3.9 1.6 2.9 7.7 3.6 3.0 4.1 2.9 4.6 3.5 3.6 11.2 6.9 5.2 1.7 3.2 5.9 1.4 4.4 3.1 1.7 3.3 7.5 2.2 0.6 5.8 5.1 4.7 3.9 3.5
F Constrution 1,390 1,495 1,498 4.2 2.2 5.5 2.8 2.3 2.0 9.4 5.2 5.7 8.9 3.6 7.5 3.9 -1.4 11.5 11.1 6.0 4.8 4.2 6.7 3.9 6.5 6.6 4.7 6.7 15.5 1.3 1.0 8.4 6.9 8.0 7.6 7.0
G Wholesale and retail trade, repair of 
motor vehicles and motorcycles 1,676 1,732 1,740 4.2 3.9 4.2 4.5 3.2 2.3 6.1 4.8 3.9 5.9 3.0 5.2 5.5 -3.1 6.9 7.6 4.3 5.9 4.4 4.2 3.4 3.5 5.2 2.4 3.6 11.7 2.3 1.0 5.6 4.2 5.8 5.5 6.3
H Transportation and storage 1,565 1,623 1,643 3.3 1.6 -0.1 2.0 -0.2 0.3 1.1 1.0 -2.4 2.7 2.7 4.6 2.8 -2.9 3.3 1.6 -1.2 -1.1 0.5 3.8 0.1 -2.7 -4.4 -0.4 1.1 7.7 1.0 1.8 4.9 5.0 5.3 3.4 6.0
I Accommodation and food service 
activities 1,180 1,371 1,370 4.9 4.8 -3.8 4.3 5.2 -3.0 -5.9 2.2 -9.5 4.9 12.2 9.7 4.7 -18.8 -0.1 -8.9 -6.8 1.1 3.8 1.7 -8.5 -13.0 -5.6 -4.9 -2.9 27.8 2.7 14.0 16.8 10.3 8.8 9.8 22.2
J Information and communication 2,480 2,567 2,516 4.1 5.7 4.5 4.6 5.4 4.0 6.5 4.1 3.6 4.5 3.4 5.6 5.1 1.2 6.7 5.8 6.9 4.1 4.3 3.8 4.1 4.3 2.6 0.5 4.9 7.9 2.7 1.7 5.6 5.2 6.2 5.3 3.1
K Financial and insurance activities 2,658 2,647 2,644 4.8 4.6 2.5 5.3 4.3 2.7 4.1 2.3 0.8 5.7 2.9 4.2 7.7 -3.1 6.4 -0.4 6.5 0.9 3.6 2.4 2.3 0.5 0.0 4.0 0.7 11.2 3.0 5.7 0.1 5.1 2.2 5.3 5.0
L Real estate activities 1,676 1,711 1,715 0.9 5.2 4.2 5.4 5.5 3.6 7.9 4.5 1.3 4.0 0.1 3.6 4.6 0.7 7.9 10.6 5.3 5.1 4.8 3.7 3.2 1.4 -0.2 1.7 3.7 6.7 0.6 -1.6 1.1 4.3 2.9 3.7 4.0
M Professional, scientific and  
technical activities 2,048 2,147 2,115 4.2 4.6 4.0 5.0 5.0 2.4 6.3 4.0 3.5 7.2 4.0 6.1 3.4 -1.5 5.9 7.8 5.4 3.1 4.2 4.8 1.6 3.1 5.7 4.6 5.1 12.2 4.5 1.1 6.3 6.3 6.2 5.6 6.0
N Administrative and support  
service activities 1,258 1,319 1,323 5.8 5.1 4.7 6.1 3.6 4.0 7.4 3.9 4.1 5.2 3.0 6.6 5.9 1.2 9.3 9.0 4.1 1.8 5.3 4.6 2.3 9.2 0.9 6.3 1.2 8.4 0.7 0.6 7.6 8.3 4.8 6.8 7.6
O Public administration and defence, 
compulsory social security 2,352 2,363 2,315 3.2 8.9 7.4 8.6 8.1 3.0 14.2 3.6 9.0 16.0 10.3 2.9 2.1 2.6 11.8 18.1 12.8 2.7 4.4 3.9 6.2 7.0 13.7 17.2 15.5 15.3 10.6 14.8 5.3 3.1 3.1 2.7 0.1
P Education 1,951 2,118 2,045 0.9 6.1 6.2 5.3 8.1 3.8 6.4 8.3 6.5 10.1 16.1 8.2 4.1 2.8 8.9 4.9 5.6 10.2 7.2 7.4 7.5 3.9 8.4 13.4 6.2 10.7 7.8 25.4 15.0 21.2 4.8 -1.3 3.7
Q Human health and social work 
activities 2,323 2,105 2,105 3.4 5.1 17.7 4.5 6.9 5.7 26.5 6.6 31.4 36.2 5.7 1.2 4.0 9.0 38.4 30.6 11.3 9.0 6.9 4.0 13.6 40.2 39.8 41.9 35.5 31.3 1.8 8.7 6.6 3.9 -0.5 0.0 -6.1
R Arts, entertainment and recreation 1,778 1,951 2,006 1.7 4.3 0.0 3.8 5.4 -1.1 -2.4 4.5 -1.1 7.5 11.7 7.3 3.0 -9.1 -0.9 -1.4 -4.2 4.4 3.9 5.3 2.4 -6.0 0.7 5.0 0.9 17.9 8.8 7.8 17.7 10.0 7.3 4.7 11.2
S Other service activities 1,491 1,518 1,535 1.2 4.7 4.5 4.5 6.1 0.1 12.3 3.7 3.0 8.9 -1.9 3.6 2.3 -5.0 17.8 15.1 5.1 3.5 4.1 3.4 1.2 1.8 6.2 5.9 6.8 14.2 -5.1 -5.0 4.0 4.1 3.0 3.7 5.8
Source: SURS, calculations by IMAD.
Statistical Appendix34 Slovenian Economic Mirror, No 1/2022
Prices and indicators of 
overall competitiveness 2019 2020 2021
2019 2020 2021 2019 2020 2020 2021
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
CPI, y-o-y growth rates, % 1.8 -1.1 4.9 1.5 1.5 -0.9 0.0 -0.7 -0.5 1.9 2.2 4.2 1.8 2.1 2.0 0.5 -1.2 -1.2 -0.3 0.3 -0.1 -0.3 -0.1 -0.9 -1.1 -0.7 -1.0 0.1 2.1 2.1 1.4 2.0 2.1 2.4 3.0 4.6 4.9
Food, non-alcoholic beverages 3.3 1.0 3.9 2.4 4.0 4.4 3.6 2.0 -0.3 -1.3 -1.0 1.8 3.3 3.4 4.0 4.6 5.1 5.1 3.1 3.1 3.6 4.1 3.4 1.7 1.0 0.1 -0.2 -0.7 -0.4 -2.5 -0.9 -1.1 -1.4 -0.4 0.3 1.1 3.9
Alcoholic beverages, tobacco 1.9 3.2 2.4 1.6 1.7 1.3 0.3 3.5 3.5 3.6 4.1 1.8 1.9 1.4 1.7 2.0 1.7 1.8 0.4 0.1 0.3 0.4 3.8 3.6 3.2 3.8 3.4 3.3 3.6 3.4 3.9 4.1 4.2 4.0 0.7 2.2 2.4
Clothing and footwear 0.5 -5.4 5.9 0.5 1.3 -3.8 -4.1 -4.5 -4.2 1.2 1.8 3.3 0.5 1.4 1.8 0.7 -3.4 -4.2 -3.8 -1.8 -5.2 -5.3 -1.9 -6.1 -5.4 0.9 -4.8 -8.8 -0.1 2.0 1.7 4.3 1.8 -0.7 -1.2 5.3 5.9
Housing, water, electricity, gas 2.7 -0.6 8.6 2.6 0.7 -5.5 0.7 -0.3 1.7 8.5 3.6 7.9 2.7 4.1 3.4 -5.4 -7.8 -8.6 0.0 1.1 0.9 0.2 -0.3 -0.1 -0.6 -1.6 -1.1 7.7 11.2 11.8 2.5 3.1 3.2 4.4 6.7 8.3 8.6
Furnishing, household equipm. 0.4 -0.4 5.7 0.9 1.0 -0.9 0.2 -0.2 -0.1 1.7 2.5 4.7 0.4 0.8 0.6 1.6 -0.8 -0.8 -1.0 -0.1 -0.2 1.0 0.6 -0.8 -0.4 -0.3 0.2 -0.1 1.9 2.0 1.3 2.1 3.2 2.3 3.4 5.0 5.7
Medical, pharmaceutical produ. 1.4 4.9 -0.5 1.5 1.0 0.0 1.0 3.8 1.1 2.5 2.7 0.6 1.4 1.4 1.7 -0.1 0.1 0.1 -0.3 1.0 0.9 1.2 1.4 5.0 4.9 2.1 0.6 0.5 1.7 2.7 3.2 2.5 2.9 2.7 3.0 -0.6 -0.5
Transport 0.1 -5.9 12.5 -0.8 -0.2 -7.4 -6.6 -6.7 -2.6 5.3 9.0 13.0 0.1 1.3 -0.3 -1.5 -7.6 -7.8 -6.7 -6.6 -7.1 -6.2 -6.8 -7.4 -5.9 -4.5 -2.6 -0.8 4.8 5.6 5.5 8.2 9.2 9.6 11.7 14.7 12.5
Communications -0.4 0.6 -3.6 0.4 -1.5 0.0 1.0 0.9 0.3 0.2 -0.7 -3.5 -0.4 -0.1 -2.3 -2.0 -1.5 0.9 0.7 1.6 1.6 -0.1 1.5 0.6 0.6 1.0 0.5 -0.5 -2.0 1.2 1.4 -0.4 -0.4 -1.3 -3.5 -3.5 -3.6
Recreation and culture 0.6 -3.9 3.4 0.5 -0.1 0.2 0.3 -1.7 -3.0 -2.9 -2.2 1.2 0.6 -0.9 0.7 -0.2 -0.8 0.2 1.1 1.2 0.3 -0.6 -0.2 -1.1 -3.9 -2.9 -3.9 -2.3 -2.5 -3.3 -2.8 -2.7 -2.3 -1.6 -0.9 1.2 3.4
Education 5.6 0.7 0.5 5.6 4.8 3.3 2.2 0.6 0.7 0.8 1.1 0.6 5.6 5.5 4.5 4.3 3.8 3.0 3.0 3.0 3.0 0.6 0.5 0.5 0.7 0.7 0.8 0.7 0.8 0.8 0.9 1.0 1.0 1.2 0.7 0.7 0.5
Catering services 3.2 0.6 6.1 3.0 2.0 1.3 1.0 0.7 0.6 1.3 4.0 5.8 3.2 1.9 2.0 2.2 2.0 1.6 0.4 1.4 0.7 0.8 0.8 0.6 0.6 0.8 0.6 0.5 0.6 0.9 2.5 3.1 3.7 5.2 5.2 6.2 6.1
Miscellaneous goods & services 4.4 0.7 -2.1 4.1 4.9 3.7 2.9 0.9 0.5 -0.3 -0.1 -0.4 4.4 5.3 5.4 4.0 3.5 3.7 3.8 3.6 3.5 1.6 1.8 0.3 0.7 0.8 0.1 0.6 -0.2 -0.4 -0.3 -0.3 -0.1 0.0 0.3 0.7 -2.1
HICP 2.0 -1.2 5.1 1.6 1.7 -1.2 -0.6 -0.9 -0.6 2.0 2.3 4.5 2.0 2.3 2.0 0.7 -1.3 -1.4 -0.8 -0.3 -0.7 -0.7 -0.5 -1.1 -1.2 -0.9 -1.1 0.1 2.2 2.2 1.7 2.0 2.1 2.7 3.5 4.9 5.1
Core inflation (excluding  
fresh food and energy) 1.6 -0.1 3.1 1.7 1.5 0.5 0.6 0.2 -0.2 0.6 1.5 2.5 1.6 1.4 1.7 1.3 0.3 0.5 0.6 1.1 0.5 0.1 0.8 0.0 -0.1 0.6 -0.4 -0.8 0.4 0.7 0.8 1.3 1.6 1.5 1.5 2.9 3.1
PRODUCER PRICE INDICES, y-o-y growth rates, % 
Total 0.6 -0.2 0.4 -0.1 -0.6 -0.3 -0.1 1.2 3.6 7.5 0.6 0.3 0.1 -0.6 -0.4 -0.7 -0.6 -0.2 -0.3 -0.4 0.0 0.0 -0.2 0.5 1.0 2.0 2.4 3.5 4.8 6.2 7.7 8.6 9.2 9.9
Domestic market 2.1 1.0 2.0 1.3 0.3 0.3 0.9 1.9 4.2 8.0 2.1 1.9 1.5 0.4 0.3 -0.2 0.7 0.3 0.2 0.3 0.9 1.0 1.0 1.3 1.7 2.6 3.0 4.6 5.1 6.9 8.2 9.0 9.5 10.1
Non-domestic market -0.9 -1.4 -1.2 -1.4 -1.4 -0.8 -1.1 0.4 2.9 6.9 -0.9 -1.3 -1.2 -1.7 -1.2 -1.2 -1.9 -0.7 -0.8 -1.0 -0.9 -1.0 -1.4 -0.4 0.4 1.3 1.8 2.4 4.6 5.4 7.1 8.2 8.8 9.7
Euro area -0.7 -1.2 -1.2 -1.7 -1.5 -0.4 -0.8 1.3 3.8 7.0 -0.7 -1.5 -1.7 -2.0 -1.2 -1.1 -2.1 -0.4 -0.3 -0.6 -0.5 -0.6 -1.2 0.4 1.4 2.2 2.7 2.9 5.7 5.6 7.2 8.3 9.5 10.4
Non-euro area -1.2 -1.8 -1.1 -0.5 -1.3 -1.8 -1.9 -1.5 1.1 6.7 -1.2 -0.6 0.0 -0.9 -1.1 -1.5 -1.3 -1.7 -1.8 -1.9 -2.1 -1.8 -1.8 -2.0 -1.8 -0.6 -0.3 1.4 2.2 5.0 7.0 8.1 7.5 8.1
Import price indices -1.4 -2.6 -1.9 -2.3 -4.7 -3.5 -3.4 1.3 8.6 14.9 -1.4 -1.5 -1.7 -3.6 -4.9 -5.2 -4.1 -3.5 -3.4 -3.6 -4.1 -3.6 -2.6 -0.8 0.6 4.0 7.0 8.6 10.3 12.8 14.1 17.8 22.5 25.0
INDICATORS OF OVERALL COMPETITIVENESS1, y-o-y growth rates, %
Effective exchange rate2, 
nominal -0.4 0.8 0.0 -0.3 0.0 0.7 1.2 1.3 1.2 0.4 -0.6 -1.0 -0.3 -0.4 -0.4 0.8 0.8 0.5 0.8 1.1 1.1 1.4 1.3 1.2 1.5 1.6 1.5 0.6 0.6 0.5 -0.1 -0.3 -0.7 -0.8 -0.9 -0.9 -1.4
Real (deflator HICP) -0.3 -0.4 -0.6 -0.3 -0.2 -1.3 -0.1 0.1 -0.5 0.3 -1.3 -1.0 -0.2 -0.2 -0.3 0.0 -1.4 -1.5 -0.9 -0.2 -0.2 0.2 0.4 -0.3 0.0 -0.2 -0.5 -0.7 0.9 0.5 -0.5 -0.8 -1.6 -1.3 -1.4 -0.6 -1.0
Real (deflator ULC) 0.9 3.6 -0.5 2.8 5.6 1.4 4.7 1.0 -2.6 1.5
USD / EUR 1.1196 1.1413 1.1835 1.1072 1.1023 1.1006 1.1695 1.1928 1.2056 1.2057 1.1788 1.1440 1.1113 1.1100 1.0905 1.1063 1.0862 1.0902 1.1255 1.1463 1.1828 1.1792 1.1775 1.1838 1.2170 1.2171 1.2098 1.1899 1.1979 1.2146 1.2047 1.1822 1.1772 1.1770 1.1601 1.1414 1.1304
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.
Statistical Appendix 35Slovenian Economic Mirror, No 1/2022
Prices and indicators of 
overall competitiveness 2019 2020 2021
2019 2020 2021 2019 2020 2020 2021
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
CPI, y-o-y growth rates, % 1.8 -1.1 4.9 1.5 1.5 -0.9 0.0 -0.7 -0.5 1.9 2.2 4.2 1.8 2.1 2.0 0.5 -1.2 -1.2 -0.3 0.3 -0.1 -0.3 -0.1 -0.9 -1.1 -0.7 -1.0 0.1 2.1 2.1 1.4 2.0 2.1 2.4 3.0 4.6 4.9
Food, non-alcoholic beverages 3.3 1.0 3.9 2.4 4.0 4.4 3.6 2.0 -0.3 -1.3 -1.0 1.8 3.3 3.4 4.0 4.6 5.1 5.1 3.1 3.1 3.6 4.1 3.4 1.7 1.0 0.1 -0.2 -0.7 -0.4 -2.5 -0.9 -1.1 -1.4 -0.4 0.3 1.1 3.9
Alcoholic beverages, tobacco 1.9 3.2 2.4 1.6 1.7 1.3 0.3 3.5 3.5 3.6 4.1 1.8 1.9 1.4 1.7 2.0 1.7 1.8 0.4 0.1 0.3 0.4 3.8 3.6 3.2 3.8 3.4 3.3 3.6 3.4 3.9 4.1 4.2 4.0 0.7 2.2 2.4
Clothing and footwear 0.5 -5.4 5.9 0.5 1.3 -3.8 -4.1 -4.5 -4.2 1.2 1.8 3.3 0.5 1.4 1.8 0.7 -3.4 -4.2 -3.8 -1.8 -5.2 -5.3 -1.9 -6.1 -5.4 0.9 -4.8 -8.8 -0.1 2.0 1.7 4.3 1.8 -0.7 -1.2 5.3 5.9
Housing, water, electricity, gas 2.7 -0.6 8.6 2.6 0.7 -5.5 0.7 -0.3 1.7 8.5 3.6 7.9 2.7 4.1 3.4 -5.4 -7.8 -8.6 0.0 1.1 0.9 0.2 -0.3 -0.1 -0.6 -1.6 -1.1 7.7 11.2 11.8 2.5 3.1 3.2 4.4 6.7 8.3 8.6
Furnishing, household equipm. 0.4 -0.4 5.7 0.9 1.0 -0.9 0.2 -0.2 -0.1 1.7 2.5 4.7 0.4 0.8 0.6 1.6 -0.8 -0.8 -1.0 -0.1 -0.2 1.0 0.6 -0.8 -0.4 -0.3 0.2 -0.1 1.9 2.0 1.3 2.1 3.2 2.3 3.4 5.0 5.7
Medical, pharmaceutical produ. 1.4 4.9 -0.5 1.5 1.0 0.0 1.0 3.8 1.1 2.5 2.7 0.6 1.4 1.4 1.7 -0.1 0.1 0.1 -0.3 1.0 0.9 1.2 1.4 5.0 4.9 2.1 0.6 0.5 1.7 2.7 3.2 2.5 2.9 2.7 3.0 -0.6 -0.5
Transport 0.1 -5.9 12.5 -0.8 -0.2 -7.4 -6.6 -6.7 -2.6 5.3 9.0 13.0 0.1 1.3 -0.3 -1.5 -7.6 -7.8 -6.7 -6.6 -7.1 -6.2 -6.8 -7.4 -5.9 -4.5 -2.6 -0.8 4.8 5.6 5.5 8.2 9.2 9.6 11.7 14.7 12.5
Communications -0.4 0.6 -3.6 0.4 -1.5 0.0 1.0 0.9 0.3 0.2 -0.7 -3.5 -0.4 -0.1 -2.3 -2.0 -1.5 0.9 0.7 1.6 1.6 -0.1 1.5 0.6 0.6 1.0 0.5 -0.5 -2.0 1.2 1.4 -0.4 -0.4 -1.3 -3.5 -3.5 -3.6
Recreation and culture 0.6 -3.9 3.4 0.5 -0.1 0.2 0.3 -1.7 -3.0 -2.9 -2.2 1.2 0.6 -0.9 0.7 -0.2 -0.8 0.2 1.1 1.2 0.3 -0.6 -0.2 -1.1 -3.9 -2.9 -3.9 -2.3 -2.5 -3.3 -2.8 -2.7 -2.3 -1.6 -0.9 1.2 3.4
Education 5.6 0.7 0.5 5.6 4.8 3.3 2.2 0.6 0.7 0.8 1.1 0.6 5.6 5.5 4.5 4.3 3.8 3.0 3.0 3.0 3.0 0.6 0.5 0.5 0.7 0.7 0.8 0.7 0.8 0.8 0.9 1.0 1.0 1.2 0.7 0.7 0.5
Catering services 3.2 0.6 6.1 3.0 2.0 1.3 1.0 0.7 0.6 1.3 4.0 5.8 3.2 1.9 2.0 2.2 2.0 1.6 0.4 1.4 0.7 0.8 0.8 0.6 0.6 0.8 0.6 0.5 0.6 0.9 2.5 3.1 3.7 5.2 5.2 6.2 6.1
Miscellaneous goods & services 4.4 0.7 -2.1 4.1 4.9 3.7 2.9 0.9 0.5 -0.3 -0.1 -0.4 4.4 5.3 5.4 4.0 3.5 3.7 3.8 3.6 3.5 1.6 1.8 0.3 0.7 0.8 0.1 0.6 -0.2 -0.4 -0.3 -0.3 -0.1 0.0 0.3 0.7 -2.1
HICP 2.0 -1.2 5.1 1.6 1.7 -1.2 -0.6 -0.9 -0.6 2.0 2.3 4.5 2.0 2.3 2.0 0.7 -1.3 -1.4 -0.8 -0.3 -0.7 -0.7 -0.5 -1.1 -1.2 -0.9 -1.1 0.1 2.2 2.2 1.7 2.0 2.1 2.7 3.5 4.9 5.1
Core inflation (excluding  
fresh food and energy) 1.6 -0.1 3.1 1.7 1.5 0.5 0.6 0.2 -0.2 0.6 1.5 2.5 1.6 1.4 1.7 1.3 0.3 0.5 0.6 1.1 0.5 0.1 0.8 0.0 -0.1 0.6 -0.4 -0.8 0.4 0.7 0.8 1.3 1.6 1.5 1.5 2.9 3.1
PRODUCER PRICE INDICES, y-o-y growth rates, % 
Total 0.6 -0.2 0.4 -0.1 -0.6 -0.3 -0.1 1.2 3.6 7.5 0.6 0.3 0.1 -0.6 -0.4 -0.7 -0.6 -0.2 -0.3 -0.4 0.0 0.0 -0.2 0.5 1.0 2.0 2.4 3.5 4.8 6.2 7.7 8.6 9.2 9.9
Domestic market 2.1 1.0 2.0 1.3 0.3 0.3 0.9 1.9 4.2 8.0 2.1 1.9 1.5 0.4 0.3 -0.2 0.7 0.3 0.2 0.3 0.9 1.0 1.0 1.3 1.7 2.6 3.0 4.6 5.1 6.9 8.2 9.0 9.5 10.1
Non-domestic market -0.9 -1.4 -1.2 -1.4 -1.4 -0.8 -1.1 0.4 2.9 6.9 -0.9 -1.3 -1.2 -1.7 -1.2 -1.2 -1.9 -0.7 -0.8 -1.0 -0.9 -1.0 -1.4 -0.4 0.4 1.3 1.8 2.4 4.6 5.4 7.1 8.2 8.8 9.7
Euro area -0.7 -1.2 -1.2 -1.7 -1.5 -0.4 -0.8 1.3 3.8 7.0 -0.7 -1.5 -1.7 -2.0 -1.2 -1.1 -2.1 -0.4 -0.3 -0.6 -0.5 -0.6 -1.2 0.4 1.4 2.2 2.7 2.9 5.7 5.6 7.2 8.3 9.5 10.4
Non-euro area -1.2 -1.8 -1.1 -0.5 -1.3 -1.8 -1.9 -1.5 1.1 6.7 -1.2 -0.6 0.0 -0.9 -1.1 -1.5 -1.3 -1.7 -1.8 -1.9 -2.1 -1.8 -1.8 -2.0 -1.8 -0.6 -0.3 1.4 2.2 5.0 7.0 8.1 7.5 8.1
Import price indices -1.4 -2.6 -1.9 -2.3 -4.7 -3.5 -3.4 1.3 8.6 14.9 -1.4 -1.5 -1.7 -3.6 -4.9 -5.2 -4.1 -3.5 -3.4 -3.6 -4.1 -3.6 -2.6 -0.8 0.6 4.0 7.0 8.6 10.3 12.8 14.1 17.8 22.5 25.0
INDICATORS OF OVERALL COMPETITIVENESS1, y-o-y growth rates, %
Effective exchange rate2, 
nominal -0.4 0.8 0.0 -0.3 0.0 0.7 1.2 1.3 1.2 0.4 -0.6 -1.0 -0.3 -0.4 -0.4 0.8 0.8 0.5 0.8 1.1 1.1 1.4 1.3 1.2 1.5 1.6 1.5 0.6 0.6 0.5 -0.1 -0.3 -0.7 -0.8 -0.9 -0.9 -1.4
Real (deflator HICP) -0.3 -0.4 -0.6 -0.3 -0.2 -1.3 -0.1 0.1 -0.5 0.3 -1.3 -1.0 -0.2 -0.2 -0.3 0.0 -1.4 -1.5 -0.9 -0.2 -0.2 0.2 0.4 -0.3 0.0 -0.2 -0.5 -0.7 0.9 0.5 -0.5 -0.8 -1.6 -1.3 -1.4 -0.6 -1.0
Real (deflator ULC) 0.9 3.6 -0.5 2.8 5.6 1.4 4.7 1.0 -2.6 1.5
USD / EUR 1.1196 1.1413 1.1835 1.1072 1.1023 1.1006 1.1695 1.1928 1.2056 1.2057 1.1788 1.1440 1.1113 1.1100 1.0905 1.1063 1.0862 1.0902 1.1255 1.1463 1.1828 1.1792 1.1775 1.1838 1.2170 1.2171 1.2098 1.1899 1.1979 1.2146 1.2047 1.1822 1.1772 1.1770 1.1601 1.1414 1.1304
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.
Statistical Appendix36 Slovenian Economic Mirror, No 1/2022
Balance of payments 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10
BALANCE OF PAYMENTS, BPM6 methodology, EUR m
Current account 2,731 2,898 3,462 678 696 986 716 797 963 794 549 311 398 307 -9 306 399 280 263 146 307 170 217 410 505 276 183 300 151 343 289 128 132 162 115 34 217
Goods 1,272 1,311 2,366 198 273 568 568 700 530 538 214 -131 212 135 -74 137 243 188 164 123 281 344 89 267 277 187 66 241 131 166 128 3 83 50 -59 -122 72
Exports 30,808 32,013 29,656 7,831 7,904 7,857 6,431 7,368 8,001 8,242 8,775 8,582 2,905 2,747 2,251 2,581 2,692 2,584 1,838 2,116 2,476 2,693 2,010 2,665 2,824 2,781 2,396 2,430 2,633 3,178 2,876 2,871 3,028 2,886 2,530 3,165 3,286
Imports 29,535 30,702 27,290 7,633 7,630 7,289 5,862 6,668 7,471 7,703 8,561 8,712 2,693 2,612 2,325 2,444 2,449 2,396 1,674 1,993 2,195 2,349 1,921 2,398 2,547 2,594 2,330 2,189 2,502 3,012 2,748 2,867 2,945 2,836 2,589 3,287 3,214
Services 2,624 2,907 1,996 834 756 517 396 561 522 487 497 697 308 224 224 192 192 132 142 93 160 184 163 214 244 129 150 138 148 202 172 137 189 190 241 265 253
Exports 8,124 8,659 6,900 2,433 2,248 1,776 1,441 1,822 1,861 1,580 1,861 2,403 764 701 783 614 621 541 459 425 557 645 589 588 637 539 684 453 500 627 600 569 692 786 802 815 769
Imports 5,500 5,751 4,904 1,598 1,492 1,259 1,046 1,261 1,338 1,093 1,364 1,706 456 477 559 421 428 409 317 332 397 461 426 374 393 411 535 315 353 425 428 432 504 596 561 550 516
Primary income -769 -811 -426 -226 -271 53 -116 -371 7 -112 -147 -198 -75 -37 -158 68 14 -29 -7 -17 -92 -326 -9 -35 5 4 -2 -8 -39 -65 -33 -38 -76 -87 -45 -65 -64
Receipts 1,633 1,758 1,645 371 457 449 365 352 479 446 451 391 134 147 176 185 134 130 130 129 106 118 124 110 128 156 195 177 145 124 150 149 152 125 146 120 123
Expenditures 2,401 2,569 2,071 597 727 396 481 722 472 558 597 588 208 185 334 117 120 159 137 146 198 445 132 145 123 152 197 185 184 190 183 186 229 212 191 185 186
Secondary income -396 -509 -473 -129 -62 -152 -132 -93 -96 -119 -16 -57 -47 -14 -1 -91 -50 -11 -37 -54 -42 -31 -26 -35 -21 -44 -31 -71 -89 40 22 26 -64 9 -22 -45 -43
Receipts 873 934 972 233 272 230 225 214 304 289 396 299 83 85 104 77 64 88 82 67 76 80 62 72 98 100 106 70 74 145 142 150 104 125 94 80 91
Expenditures 1,270 1,443 1,445 362 334 382 357 306 400 408 412 356 130 99 105 169 114 99 118 121 118 111 89 107 119 144 137 141 163 104 120 124 167 116 116 125 135
Capital account -203 -187 -226 -30 -120 -53 -17 -26 -130 144 -11 95 -9 29 -139 -17 -17 -19 -4 -3 -10 -16 2 -12 -15 1 -116 -17 33 127 27 -24 -14 38 22 35 17
Financial account 2,548 2,094 3,052 553 506 1,116 385 580 970 783 429 -59 466 217 -177 360 451 306 368 -27 44 -4 265 319 453 434 83 204 589 -10 360 72 -3 -381 201 121 554
Direct investment -934 -762 266 -121 -119 -21 -37 -219 543 -180 -522 -263 106 -21 -203 51 -3 -69 -244 17 190 -183 -92 56 41 5 497 -145 -37 2 -325 -61 -136 -97 -48 -118 519
Assets 373 1,157 697 118 583 13 192 -65 557 311 80 266 161 60 362 94 124 -206 -128 168 152 -205 -94 234 182 73 301 -41 200 151 156 179 -256 2 49 214 583
Liabilities 1,307 1,919 431 239 701 33 229 155 14 491 602 529 55 81 565 43 128 -137 116 150 -38 -22 -2 178 141 69 -195 105 238 149 481 240 -120 99 97 332 64
Portfolio investment 744 734 -1,826 -121 444 -1,953 -1,929 1,315 740 -170 1,630 38 93 -41 392 -853 -162 -938 -1,580 -495 145 270 503 543 -416 516 640 -1,133 484 479 920 621 89 -667 543 162 881
Financial derivatives -81 -163 53 -8 8 53 -32 5 27 -18 10 8 3 1 4 14 11 28 -17 -8 -7 4 0 1 4 10 13 -1 -9 -8 5 3 2 5 2 1 0
Other investment 2,767 2,248 4,394 837 167 2,989 2,354 -547 -402 1,139 -697 -549 252 292 -378 1,125 593 1,271 2,201 467 -314 -109 -147 -290 813 -112 -1,103 1,468 160 -488 -251 -477 31 372 -999 78 -855
Assets 2,054 3,250 4,856 956 260 3,346 1,988 -696 218 3,029 135 352 199 431 -370 869 778 1,699 1,839 356 -206 -260 -254 -182 1,182 333 -1,297 1,698 1,320 10 -66 -111 312 400 -233 184 -353
Other equity 68 27 4 -2 -2 -1 5 0 0 0 2 0 -1 -1 0 0 0 0 -1 1 5 0 0 0 1 0 -1 0 0 0 1 0 1 0 0 0 0
Currency and deposits 1,508 2,811 4,753 1,056 656 2,751 2,672 -792 121 2,128 -190 160 37 393 226 690 533 1,528 2,315 484 -127 -356 -132 -304 854 213 -946 1,391 994 -257 -120 -161 92 351 -142 -49 -703
Loans 215 438 342 57 -18 79 40 57 165 153 -10 -23 -25 11 -5 14 27 38 21 8 11 -34 46 45 70 47 49 36 14 103 -45 -64 100 -40 -24 40 58
Insurance, pension 
schemes, and standardised 
guarantee schemes
-7 13 1 1 2 2 3 -1 -2 5 1 0 1 1 1 1 1 1 1 1 1 0 0 0 -1 -1 -1 2 2 2 0 0 0 0 0 0 0
Trade credit and advances 303 29 -224 -150 -322 393 -544 67 -140 671 208 101 186 -14 -494 51 249 94 -366 -164 -15 95 -124 97 228 90 -459 187 269 215 46 93 70 -5 -82 188 262
Other assets -33 -69 -20 -6 -56 122 -189 -27 74 71 124 114 1 41 -98 114 -31 39 -132 25 -82 36 -44 -19 30 -16 60 81 42 -52 53 21 50 94 15 5 29
Liabilities -713 1,002 462 119 93 358 -366 -150 620 1,889 832 900 -53 139 8 -255 185 428 -362 -111 107 -151 -107 108 368 445 -194 231 1,160 498 186 366 281 28 767 106 502
Other equity 2 2 4 0 2 0 0 0 3 2 -42 1 0 0 3 0 0 0 0 0 0 0 0 0 0 1 2 1 0 0 0 0 -42 0 0 0 2
Currency and deposits -524 1,009 800 270 308 199 222 116 263 788 950 400 135 12 162 -68 -6 273 227 -120 116 96 15 5 149 109 5 315 180 294 369 300 281 140 -10 270 192
Loans -491 -149 -409 53 -250 40 -255 -325 131 756 -372 -401 -239 32 -43 -2 112 -70 -92 -4 -159 -114 -74 -138 47 230 -145 -2 793 -35 -166 -107 -100 -7 83 -477 -27
Insurance, pension 
schemes, and standardised 
guarantee schemes
20 27 55 9 -35 40 18 6 -9 30 27 0 -12 -12 -12 13 13 13 6 6 6 2 2 2 -3 -3 -3 10 10 10 9 9 9 0 0 0 0
Trade credit and advances 331 62 -134 -140 84 -59 -391 20 297 209 274 65 49 103 -68 -272 74 140 -500 -66 175 -121 -37 178 185 132 -21 -134 134 209 3 159 112 -139 -54 259 339
Other liabilities -51 50 146 -72 -17 138 39 33 -65 104 -5 160 15 4 -35 74 -7 71 -4 73 -30 -15 -14 61 -9 -23 -32 41 43 20 -30 4 21 34 72 54 -4
Special drawing rights 
(SDR) 0 0 0 0 0 0 0 0 0 0 0 675 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 675 0 0
Reserve assets 52 37 166 -33 5 49 29 26 62 13 7 707 12 -15 7 22 13 14 9 -9 30 15 2 10 11 15 36 16 -8 5 12 -13 9 6 704 -3 8
Net errors and omissions 20 -616 -184 -96 -71 184 -313 -191 137 -155 -110 -465 77 -119 -29 71 68 45 109 -169 -253 -158 46 -79 -37 157 17 -79 405 -481 44 -32 -121 -580 63 53 319
EXPORTS AND IMPORTS BY END-USE OF PRODUCTS, in EUR million
Export of investment goods 3,556 3,841 3,552 953 1,013 852 808 900 991 915 999 982 336 344 333 253 316 283 230 278 301 325 240 336 336 329 325 261 295 359 330 333 336 331 284 367 365
Intermediate goods 16,670 17,045 15,446 4,237 4,097 4,211 3,290 3,797 4,148 4,581 4,887 4,932 1,552 1,442 1,102 1,398 1,424 1,390 981 1,067 1,241 1,342 1,074 1,381 1,491 1,454 1,202 1,393 1,456 1,732 1,604 1,599 1,684 1,702 1,437 1,793 1,869
Consumer goods 10,632 12,661 13,928 3,113 3,288 3,790 3,168 3,430 3,539 3,918 3,908 3,860 1,204 1,165 920 1,329 1,175 1,286 865 1,089 1,214 1,278 905 1,247 1,339 1,201 999 1,248 1,249 1,421 1,306 1,270 1,333 1,420 1,060 1,380 1,347
Import of investment goods 4,237 4,391 4,008 1,054 1,188 936 849 964 1,258 1,072 1,219 1,172 374 389 424 330 308 298 214 298 338 347 278 340 378 464 416 304 347 421 391 412 416 370 388 414 430
Intermediate goods 17,868 18,508 16,434 4,636 4,450 4,426 3,386 3,963 4,658 4,814 5,786 6,447 1,591 1,546 1,312 1,494 1,461 1,471 999 1,154 1,233 1,403 1,152 1,407 1,510 1,770 1,378 1,371 1,532 1,911 1,779 1,997 2,009 2,188 1,903 2,356 2,474
Consumer goods 8,601 11,183 11,670 2,712 3,232 3,011 2,579 2,871 3,210 2,908 3,222 3,184 1,246 971 1,015 960 1,019 1,031 726 803 1,050 1,021 916 934 1,095 1,082 1,033 901 907 1,100 1,154 1,041 1,027 961 1,010 1,212 1,178
Sources: BoS, 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.
Statistical Appendix 37Slovenian Economic Mirror, No 1/2022
Balance of payments 2018 2019 2020
2019 2020 2021 2019 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10
BALANCE OF PAYMENTS, BPM6 methodology, EUR m
Current account 2,731 2,898 3,462 678 696 986 716 797 963 794 549 311 398 307 -9 306 399 280 263 146 307 170 217 410 505 276 183 300 151 343 289 128 132 162 115 34 217
Goods 1,272 1,311 2,366 198 273 568 568 700 530 538 214 -131 212 135 -74 137 243 188 164 123 281 344 89 267 277 187 66 241 131 166 128 3 83 50 -59 -122 72
Exports 30,808 32,013 29,656 7,831 7,904 7,857 6,431 7,368 8,001 8,242 8,775 8,582 2,905 2,747 2,251 2,581 2,692 2,584 1,838 2,116 2,476 2,693 2,010 2,665 2,824 2,781 2,396 2,430 2,633 3,178 2,876 2,871 3,028 2,886 2,530 3,165 3,286
Imports 29,535 30,702 27,290 7,633 7,630 7,289 5,862 6,668 7,471 7,703 8,561 8,712 2,693 2,612 2,325 2,444 2,449 2,396 1,674 1,993 2,195 2,349 1,921 2,398 2,547 2,594 2,330 2,189 2,502 3,012 2,748 2,867 2,945 2,836 2,589 3,287 3,214
Services 2,624 2,907 1,996 834 756 517 396 561 522 487 497 697 308 224 224 192 192 132 142 93 160 184 163 214 244 129 150 138 148 202 172 137 189 190 241 265 253
Exports 8,124 8,659 6,900 2,433 2,248 1,776 1,441 1,822 1,861 1,580 1,861 2,403 764 701 783 614 621 541 459 425 557 645 589 588 637 539 684 453 500 627 600 569 692 786 802 815 769
Imports 5,500 5,751 4,904 1,598 1,492 1,259 1,046 1,261 1,338 1,093 1,364 1,706 456 477 559 421 428 409 317 332 397 461 426 374 393 411 535 315 353 425 428 432 504 596 561 550 516
Primary income -769 -811 -426 -226 -271 53 -116 -371 7 -112 -147 -198 -75 -37 -158 68 14 -29 -7 -17 -92 -326 -9 -35 5 4 -2 -8 -39 -65 -33 -38 -76 -87 -45 -65 -64
Receipts 1,633 1,758 1,645 371 457 449 365 352 479 446 451 391 134 147 176 185 134 130 130 129 106 118 124 110 128 156 195 177 145 124 150 149 152 125 146 120 123
Expenditures 2,401 2,569 2,071 597 727 396 481 722 472 558 597 588 208 185 334 117 120 159 137 146 198 445 132 145 123 152 197 185 184 190 183 186 229 212 191 185 186
Secondary income -396 -509 -473 -129 -62 -152 -132 -93 -96 -119 -16 -57 -47 -14 -1 -91 -50 -11 -37 -54 -42 -31 -26 -35 -21 -44 -31 -71 -89 40 22 26 -64 9 -22 -45 -43
Receipts 873 934 972 233 272 230 225 214 304 289 396 299 83 85 104 77 64 88 82 67 76 80 62 72 98 100 106 70 74 145 142 150 104 125 94 80 91
Expenditures 1,270 1,443 1,445 362 334 382 357 306 400 408 412 356 130 99 105 169 114 99 118 121 118 111 89 107 119 144 137 141 163 104 120 124 167 116 116 125 135
Capital account -203 -187 -226 -30 -120 -53 -17 -26 -130 144 -11 95 -9 29 -139 -17 -17 -19 -4 -3 -10 -16 2 -12 -15 1 -116 -17 33 127 27 -24 -14 38 22 35 17
Financial account 2,548 2,094 3,052 553 506 1,116 385 580 970 783 429 -59 466 217 -177 360 451 306 368 -27 44 -4 265 319 453 434 83 204 589 -10 360 72 -3 -381 201 121 554
Direct investment -934 -762 266 -121 -119 -21 -37 -219 543 -180 -522 -263 106 -21 -203 51 -3 -69 -244 17 190 -183 -92 56 41 5 497 -145 -37 2 -325 -61 -136 -97 -48 -118 519
Assets 373 1,157 697 118 583 13 192 -65 557 311 80 266 161 60 362 94 124 -206 -128 168 152 -205 -94 234 182 73 301 -41 200 151 156 179 -256 2 49 214 583
Liabilities 1,307 1,919 431 239 701 33 229 155 14 491 602 529 55 81 565 43 128 -137 116 150 -38 -22 -2 178 141 69 -195 105 238 149 481 240 -120 99 97 332 64
Portfolio investment 744 734 -1,826 -121 444 -1,953 -1,929 1,315 740 -170 1,630 38 93 -41 392 -853 -162 -938 -1,580 -495 145 270 503 543 -416 516 640 -1,133 484 479 920 621 89 -667 543 162 881
Financial derivatives -81 -163 53 -8 8 53 -32 5 27 -18 10 8 3 1 4 14 11 28 -17 -8 -7 4 0 1 4 10 13 -1 -9 -8 5 3 2 5 2 1 0
Other investment 2,767 2,248 4,394 837 167 2,989 2,354 -547 -402 1,139 -697 -549 252 292 -378 1,125 593 1,271 2,201 467 -314 -109 -147 -290 813 -112 -1,103 1,468 160 -488 -251 -477 31 372 -999 78 -855
Assets 2,054 3,250 4,856 956 260 3,346 1,988 -696 218 3,029 135 352 199 431 -370 869 778 1,699 1,839 356 -206 -260 -254 -182 1,182 333 -1,297 1,698 1,320 10 -66 -111 312 400 -233 184 -353
Other equity 68 27 4 -2 -2 -1 5 0 0 0 2 0 -1 -1 0 0 0 0 -1 1 5 0 0 0 1 0 -1 0 0 0 1 0 1 0 0 0 0
Currency and deposits 1,508 2,811 4,753 1,056 656 2,751 2,672 -792 121 2,128 -190 160 37 393 226 690 533 1,528 2,315 484 -127 -356 -132 -304 854 213 -946 1,391 994 -257 -120 -161 92 351 -142 -49 -703
Loans 215 438 342 57 -18 79 40 57 165 153 -10 -23 -25 11 -5 14 27 38 21 8 11 -34 46 45 70 47 49 36 14 103 -45 -64 100 -40 -24 40 58
Insurance, pension 
schemes, and standardised 
guarantee schemes
-7 13 1 1 2 2 3 -1 -2 5 1 0 1 1 1 1 1 1 1 1 1 0 0 0 -1 -1 -1 2 2 2 0 0 0 0 0 0 0
Trade credit and advances 303 29 -224 -150 -322 393 -544 67 -140 671 208 101 186 -14 -494 51 249 94 -366 -164 -15 95 -124 97 228 90 -459 187 269 215 46 93 70 -5 -82 188 262
Other assets -33 -69 -20 -6 -56 122 -189 -27 74 71 124 114 1 41 -98 114 -31 39 -132 25 -82 36 -44 -19 30 -16 60 81 42 -52 53 21 50 94 15 5 29
Liabilities -713 1,002 462 119 93 358 -366 -150 620 1,889 832 900 -53 139 8 -255 185 428 -362 -111 107 -151 -107 108 368 445 -194 231 1,160 498 186 366 281 28 767 106 502
Other equity 2 2 4 0 2 0 0 0 3 2 -42 1 0 0 3 0 0 0 0 0 0 0 0 0 0 1 2 1 0 0 0 0 -42 0 0 0 2
Currency and deposits -524 1,009 800 270 308 199 222 116 263 788 950 400 135 12 162 -68 -6 273 227 -120 116 96 15 5 149 109 5 315 180 294 369 300 281 140 -10 270 192
Loans -491 -149 -409 53 -250 40 -255 -325 131 756 -372 -401 -239 32 -43 -2 112 -70 -92 -4 -159 -114 -74 -138 47 230 -145 -2 793 -35 -166 -107 -100 -7 83 -477 -27
Insurance, pension 
schemes, and standardised 
guarantee schemes
20 27 55 9 -35 40 18 6 -9 30 27 0 -12 -12 -12 13 13 13 6 6 6 2 2 2 -3 -3 -3 10 10 10 9 9 9 0 0 0 0
Trade credit and advances 331 62 -134 -140 84 -59 -391 20 297 209 274 65 49 103 -68 -272 74 140 -500 -66 175 -121 -37 178 185 132 -21 -134 134 209 3 159 112 -139 -54 259 339
Other liabilities -51 50 146 -72 -17 138 39 33 -65 104 -5 160 15 4 -35 74 -7 71 -4 73 -30 -15 -14 61 -9 -23 -32 41 43 20 -30 4 21 34 72 54 -4
Special drawing rights 
(SDR) 0 0 0 0 0 0 0 0 0 0 0 675 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 675 0 0
Reserve assets 52 37 166 -33 5 49 29 26 62 13 7 707 12 -15 7 22 13 14 9 -9 30 15 2 10 11 15 36 16 -8 5 12 -13 9 6 704 -3 8
Net errors and omissions 20 -616 -184 -96 -71 184 -313 -191 137 -155 -110 -465 77 -119 -29 71 68 45 109 -169 -253 -158 46 -79 -37 157 17 -79 405 -481 44 -32 -121 -580 63 53 319
EXPORTS AND IMPORTS BY END-USE OF PRODUCTS, in EUR million
Export of investment goods 3,556 3,841 3,552 953 1,013 852 808 900 991 915 999 982 336 344 333 253 316 283 230 278 301 325 240 336 336 329 325 261 295 359 330 333 336 331 284 367 365
Intermediate goods 16,670 17,045 15,446 4,237 4,097 4,211 3,290 3,797 4,148 4,581 4,887 4,932 1,552 1,442 1,102 1,398 1,424 1,390 981 1,067 1,241 1,342 1,074 1,381 1,491 1,454 1,202 1,393 1,456 1,732 1,604 1,599 1,684 1,702 1,437 1,793 1,869
Consumer goods 10,632 12,661 13,928 3,113 3,288 3,790 3,168 3,430 3,539 3,918 3,908 3,860 1,204 1,165 920 1,329 1,175 1,286 865 1,089 1,214 1,278 905 1,247 1,339 1,201 999 1,248 1,249 1,421 1,306 1,270 1,333 1,420 1,060 1,380 1,347
Import of investment goods 4,237 4,391 4,008 1,054 1,188 936 849 964 1,258 1,072 1,219 1,172 374 389 424 330 308 298 214 298 338 347 278 340 378 464 416 304 347 421 391 412 416 370 388 414 430
Intermediate goods 17,868 18,508 16,434 4,636 4,450 4,426 3,386 3,963 4,658 4,814 5,786 6,447 1,591 1,546 1,312 1,494 1,461 1,471 999 1,154 1,233 1,403 1,152 1,407 1,510 1,770 1,378 1,371 1,532 1,911 1,779 1,997 2,009 2,188 1,903 2,356 2,474
Consumer goods 8,601 11,183 11,670 2,712 3,232 3,011 2,579 2,871 3,210 2,908 3,222 3,184 1,246 971 1,015 960 1,019 1,031 726 803 1,050 1,021 916 934 1,095 1,082 1,033 901 907 1,100 1,154 1,041 1,027 961 1,010 1,212 1,178
Sources: BoS, 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.
Statistical Appendix38 Slovenian Economic Mirror, No 1/2022
Monetary indicators and 
interest rates 2018 2019 2020
2019 2020 2020 2021
7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11
SELECTED CLAIMS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million
Claims of the BoS on central 
government 7,165 7,719 11,805 7,631 7,913 7,791 7,819 7,817 7,719 7,624 7,744 7,399 7,662 8,307 9,007 9,766 10,011 10,438 11,012 11,421 11,805 11,771 11,863 12,264 12,359 12,710 13,268 14,012 14,316 14,332 14,365 14,736
Central government (S,1311) 4,937 4,696 4,520 5,070 5,007 5,037 4,959 4,928 4,696 4,410 4,455 4,753 4,859 4,838 4,884 4,962 4,872 4,705 4,701 4,640 4,520 4,339 4,549 4,656 4,441 4,564 4,610 4,523 4,325 4,183 3,762 3,705
Other government 
(S,1312,1313,1314) 580 602 639 570 567 574 573 577 602 613 616 613 614 612 602 601 608 602 598 607 639 638 643 638 634 632 621 619 628 627 627 636
Households (S,14, 15) 10,370 10,981 10,997 10,703 10,781 10,833 10,950 10,978 10,981 10,982 11,005 10,954 10,882 10,890 10,828 10,884 10,926 10,970 11,025 11,007 10,997 10,937 10,940 11,028 11,045 11,118 11,137 11,223 11,299 11,365 11,449 11,514
Non-financial corporations (S,11) 9,496 9,589 9,363 9,738 9,878 9,868 9,869 9,882 9,587 9,794 9,871 10,070 9,971 9,808 9,711 9,668 9,593 9,557 9,552 9,548 9,364 9,505 9,521 9,629 9,512 9,554 9,497 9,560 9,481 9,511 9,945 9,886
Non-monetary financial institutions 
(S,123, 124, 125) 1,502 1,661 1,640 1,503 1,493 1,486 1,479 1,481 1,661 1,674 1,674 1,675 1,663 1,657 1,656 1,667 1,666 1,656 1,653 1,642 1,640 1,633 1,647 1,619 1,624 1,617 1,706 1,700 1,710 1,726 1,731 1,737
Monetary financial institutions 
(S,121, 122) 4,275 5,230 7,969 4,335 4,067 3,894 4,011 4,531 5,230 5,403 5,138 5,461 5,889 6,555 7,206 7,389 7,390 7,096 7,266 7,729 7,969 8,595 8,104 8,568 8,634 8,669 10,009 9,796 10,069 10,135 9,858 9,931
Claims on domestic sectors, TOTAL
In domestic currency 26,181 27,913 30,341 26,725 26,651 26,509 26,728 27,331 27,913 27,860 27,687 28,145 28,388 28,896 29,354 29,514 29,494 29,625 29,858 30,299 30,342 30,993 30,524 31,151 31,131 31,260 32,655 32,593 32,875 33,010 33,252 33,347
In foreign currency 446 391 345 416 420 412 398 392 391 389 390 389 390 387 388 374 368 354 352 343 345 337 330 324 316 310 310 307 314 298 295 293
Securities, total 4,429 4,382 4,361 4,727 4,666 4,704 4,642 4,581 4,381 4,554 4,608 4,910 5,015 4,994 5,062 5,204 5,116 4,528 4,499 4,447 4,361 4,235 4,468 4,577 4,359 4,499 4,531 4,438 4,240 4,146 3,727 3,667
SELECTED OBLIGATIONS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million
Deposits in domestic currency, total 29,442 31,109 34,567 30,709 30,733 30,585 30,678 30,838 31,121 31,237 31,171 31,785 32,271 32,605 33,068 33,267 33,345 33,420 33,639 34,003 34,567 34,947 35,161 35,665 35,566 35,770 37,094 37,159 37,331 37,242 37,128 37,224
Overnight 19,440 21,278 25,218 20,474 20,521 20,676 20,611 20,911 21,278 21,243 21,291 22,144 22,628 23,002 23,539 23,712 23,862 23,904 24,092 24,573 25,218 25,641 25,916 26,521 26,586 26,857 27,352 27,599 27,860 28,010 27,989 28,272
With agreed maturity – short-term 3,261 3,478 3,381 3,408 3,423 3,340 3,448 3,369 3,478 3,442 3,511 3,473 3,540 3,557 3,376 3,405 3,333 3,356 3,387 3,352 3,381 3,334 3,280 3,214 3,079 3,025 2,949 2,892 2,811 2,808 2,761 2,687
With agreed maturity – long-term 6,166 5,723 5,348 6,059 6,010 5,823 5,806 5,770 5,735 5,792 5,677 5,506 5,420 5,374 5,593 5,566 5,535 5,520 5,482 5,435 5,348 5,323 5,309 5,309 5,272 5,266 6,240 6,158 6,141 5,931 5,831 5,746
Short-term deposits redeemable 
at notice 575 630 620 768 779 746 813 788 630 760 692 662 683 672 560 584 615 640 678 643 620 649 656 621 629 622 553 510 519 493 547 519
Deposits in foreign currency, total 651 634 723 681 686 685 646 658 634 632 647 677 670 691 718 691 699 728 706 711 723 721 740 786 776 810 789 812 817 804 835 839
Overnight 581 577 675 616 622 620 585 598 577 573 588 622 617 631 652 627 638 672 655 662 675 671 696 739 731 766 747 771 776 771 803 803
With agreed maturity – short-term 31 26 25 28 27 28 26 25 26 27 29 26 25 33 40 39 37 32 28 26 25 28 24 26 25 26 25 25 26 19 19 24
With agreed maturity – long-term 39 31 23 37 37 37 35 35 31 32 30 29 28 27 26 25 24 24 23 23 23 22 20 21 20 18 17 16 15 14 13 12
Short-term deposits redeemable 
at notice .. ... ... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..
INTEREST RATES OF MONETARY FINANCIAL INSTITUTIONS, %
New deposits in domestic currency
Households
Overnight deposits 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 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Time deposits with maturity of up 
to one year 0.16 0.17 0.15 0.15 0.16 0.16 0.16 0.17 0.18 0.1 0.04 0.15 0.21 0.2 0.18 0.17 0.17 0.14 0.15 0.15 0.13 0.11 0.14 0.12 0.12 0.14 0.12 0.12 0.14 0.13 0.12 0.15
New loans to households in domestic currency
Housing loans, 5-10 year fixed 
interest rate 2.65 2.66 2.21 2.7 2.75 2.62 2.51 2.50 2.5 2.43 2.33 2.34 2.47 2.32 2.28 2.19 2.05 2.06 2.00 2.05 2.00 1.86 1.89 1.79 1.74 1.70 1.66 1.69 1.65 1.69 1.63 1.67
New loans to non-financial corporations in domestic currency
Loan over EUR 1 million, 1-5 year 
fixed interest rate 2.02 1.68 1.23 1.37 .. 3.56 2.32 1.65 0.85 0.97 1.31 1.35  - 2.19 1.28 1.50 1.11 1.00 1.16 1.38 0.32 1.82 1.56 0.78 2.03 0.78 0.80 1.40 0.89 1.36 0.95 0.10
INTEREST RATES OF THE EUROPEAN CENTRAL BANK, v %
Main refinancing operations 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 0.00 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
INTERBANK INTEREST RATES 
EURIBOR
3-month rates -0.322 -0.356 -0.425 -0.365 -0.408 -0.418 -0.413 -0.401 -0.395 -0.391 -0.409 -0.417 -0.254 -0.270 -0.376 -0.441 -0.480 -0.491 -0.509 -0.521 -0.538 -0.547 -0.541 -0.539 -0.538 -0.540 -0.543 -0.545 -0.548 -0.545 -0.550 -0.567
6-month rates -0.266 -0.302 -0.364 -0.347 -0.405 -0.394 -0.362 -0.337 -0.336 -0.330 -0.355 -0.365 -0.192 -0.142 -0.223 -0.346 -0.433 -0.463 -0.494 -0.509 -0.519 -0.529 -0.521 -0.516 -0.516 -0.513 -0.515 -0.516 -0.527 -0.522 -0.527 -0.534
LIBOR
3-month rates -0.735 -0.737 -0.708 -0.751 -0.817 -0.812 -0.774 -0.712 -0.711 -0.679 -0.707 -0.761 -0.589 -0.619 -0.659 -0.692 -0.710 -0.751 -0.769 -0.771 -0.788 -0.765 -0.755 -0.753 -0.747 -0.747 -0.752 -0.756 -0.769 -0.756 -0.766 -0.779
6-month rates -0.653 -0.684 -0.659 -0.719 -0.802 -0.771 -0.711 -0.650 -0.639 -0.624 -0.663 -0.703 -0.540 -0.575 -0.594 -0.647 -0.658 -0.707 -0.727 -0.729 -0.738 -0.725 -0.711 -0.707 -0.706 -0.703 -0.709 -0.715 -0.723 -0.720 -0.714 -0.721
Sources: BoS, EUROSTAT.
Statistical Appendix 39Slovenian Economic Mirror, No 1/2022
Monetary indicators and 
interest rates 2018 2019 2020
2019 2020 2020 2021
7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11
SELECTED CLAIMS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million
Claims of the BoS on central 
government 7,165 7,719 11,805 7,631 7,913 7,791 7,819 7,817 7,719 7,624 7,744 7,399 7,662 8,307 9,007 9,766 10,011 10,438 11,012 11,421 11,805 11,771 11,863 12,264 12,359 12,710 13,268 14,012 14,316 14,332 14,365 14,736
Central government (S,1311) 4,937 4,696 4,520 5,070 5,007 5,037 4,959 4,928 4,696 4,410 4,455 4,753 4,859 4,838 4,884 4,962 4,872 4,705 4,701 4,640 4,520 4,339 4,549 4,656 4,441 4,564 4,610 4,523 4,325 4,183 3,762 3,705
Other government 
(S,1312,1313,1314) 580 602 639 570 567 574 573 577 602 613 616 613 614 612 602 601 608 602 598 607 639 638 643 638 634 632 621 619 628 627 627 636
Households (S,14, 15) 10,370 10,981 10,997 10,703 10,781 10,833 10,950 10,978 10,981 10,982 11,005 10,954 10,882 10,890 10,828 10,884 10,926 10,970 11,025 11,007 10,997 10,937 10,940 11,028 11,045 11,118 11,137 11,223 11,299 11,365 11,449 11,514
Non-financial corporations (S,11) 9,496 9,589 9,363 9,738 9,878 9,868 9,869 9,882 9,587 9,794 9,871 10,070 9,971 9,808 9,711 9,668 9,593 9,557 9,552 9,548 9,364 9,505 9,521 9,629 9,512 9,554 9,497 9,560 9,481 9,511 9,945 9,886
Non-monetary financial institutions 
(S,123, 124, 125) 1,502 1,661 1,640 1,503 1,493 1,486 1,479 1,481 1,661 1,674 1,674 1,675 1,663 1,657 1,656 1,667 1,666 1,656 1,653 1,642 1,640 1,633 1,647 1,619 1,624 1,617 1,706 1,700 1,710 1,726 1,731 1,737
Monetary financial institutions 
(S,121, 122) 4,275 5,230 7,969 4,335 4,067 3,894 4,011 4,531 5,230 5,403 5,138 5,461 5,889 6,555 7,206 7,389 7,390 7,096 7,266 7,729 7,969 8,595 8,104 8,568 8,634 8,669 10,009 9,796 10,069 10,135 9,858 9,931
Claims on domestic sectors, TOTAL
In domestic currency 26,181 27,913 30,341 26,725 26,651 26,509 26,728 27,331 27,913 27,860 27,687 28,145 28,388 28,896 29,354 29,514 29,494 29,625 29,858 30,299 30,342 30,993 30,524 31,151 31,131 31,260 32,655 32,593 32,875 33,010 33,252 33,347
In foreign currency 446 391 345 416 420 412 398 392 391 389 390 389 390 387 388 374 368 354 352 343 345 337 330 324 316 310 310 307 314 298 295 293
Securities, total 4,429 4,382 4,361 4,727 4,666 4,704 4,642 4,581 4,381 4,554 4,608 4,910 5,015 4,994 5,062 5,204 5,116 4,528 4,499 4,447 4,361 4,235 4,468 4,577 4,359 4,499 4,531 4,438 4,240 4,146 3,727 3,667
SELECTED OBLIGATIONS OF OTHER MFI ON DOMESTIC SECTORS, end of the month, in EUR million
Deposits in domestic currency, total 29,442 31,109 34,567 30,709 30,733 30,585 30,678 30,838 31,121 31,237 31,171 31,785 32,271 32,605 33,068 33,267 33,345 33,420 33,639 34,003 34,567 34,947 35,161 35,665 35,566 35,770 37,094 37,159 37,331 37,242 37,128 37,224
Overnight 19,440 21,278 25,218 20,474 20,521 20,676 20,611 20,911 21,278 21,243 21,291 22,144 22,628 23,002 23,539 23,712 23,862 23,904 24,092 24,573 25,218 25,641 25,916 26,521 26,586 26,857 27,352 27,599 27,860 28,010 27,989 28,272
With agreed maturity – short-term 3,261 3,478 3,381 3,408 3,423 3,340 3,448 3,369 3,478 3,442 3,511 3,473 3,540 3,557 3,376 3,405 3,333 3,356 3,387 3,352 3,381 3,334 3,280 3,214 3,079 3,025 2,949 2,892 2,811 2,808 2,761 2,687
With agreed maturity – long-term 6,166 5,723 5,348 6,059 6,010 5,823 5,806 5,770 5,735 5,792 5,677 5,506 5,420 5,374 5,593 5,566 5,535 5,520 5,482 5,435 5,348 5,323 5,309 5,309 5,272 5,266 6,240 6,158 6,141 5,931 5,831 5,746
Short-term deposits redeemable 
at notice 575 630 620 768 779 746 813 788 630 760 692 662 683 672 560 584 615 640 678 643 620 649 656 621 629 622 553 510 519 493 547 519
Deposits in foreign currency, total 651 634 723 681 686 685 646 658 634 632 647 677 670 691 718 691 699 728 706 711 723 721 740 786 776 810 789 812 817 804 835 839
Overnight 581 577 675 616 622 620 585 598 577 573 588 622 617 631 652 627 638 672 655 662 675 671 696 739 731 766 747 771 776 771 803 803
With agreed maturity – short-term 31 26 25 28 27 28 26 25 26 27 29 26 25 33 40 39 37 32 28 26 25 28 24 26 25 26 25 25 26 19 19 24
With agreed maturity – long-term 39 31 23 37 37 37 35 35 31 32 30 29 28 27 26 25 24 24 23 23 23 22 20 21 20 18 17 16 15 14 13 12
Short-term deposits redeemable 
at notice .. ... ... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..
INTEREST RATES OF MONETARY FINANCIAL INSTITUTIONS, %
New deposits in domestic currency
Households
Overnight deposits 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 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Time deposits with maturity of up 
to one year 0.16 0.17 0.15 0.15 0.16 0.16 0.16 0.17 0.18 0.1 0.04 0.15 0.21 0.2 0.18 0.17 0.17 0.14 0.15 0.15 0.13 0.11 0.14 0.12 0.12 0.14 0.12 0.12 0.14 0.13 0.12 0.15
New loans to households in domestic currency
Housing loans, 5-10 year fixed 
interest rate 2.65 2.66 2.21 2.7 2.75 2.62 2.51 2.50 2.5 2.43 2.33 2.34 2.47 2.32 2.28 2.19 2.05 2.06 2.00 2.05 2.00 1.86 1.89 1.79 1.74 1.70 1.66 1.69 1.65 1.69 1.63 1.67
New loans to non-financial corporations in domestic currency
Loan over EUR 1 million, 1-5 year 
fixed interest rate 2.02 1.68 1.23 1.37 .. 3.56 2.32 1.65 0.85 0.97 1.31 1.35  - 2.19 1.28 1.50 1.11 1.00 1.16 1.38 0.32 1.82 1.56 0.78 2.03 0.78 0.80 1.40 0.89 1.36 0.95 0.10
INTEREST RATES OF THE EUROPEAN CENTRAL BANK, v %
Main refinancing operations 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 0.00 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
INTERBANK INTEREST RATES 
EURIBOR
3-month rates -0.322 -0.356 -0.425 -0.365 -0.408 -0.418 -0.413 -0.401 -0.395 -0.391 -0.409 -0.417 -0.254 -0.270 -0.376 -0.441 -0.480 -0.491 -0.509 -0.521 -0.538 -0.547 -0.541 -0.539 -0.538 -0.540 -0.543 -0.545 -0.548 -0.545 -0.550 -0.567
6-month rates -0.266 -0.302 -0.364 -0.347 -0.405 -0.394 -0.362 -0.337 -0.336 -0.330 -0.355 -0.365 -0.192 -0.142 -0.223 -0.346 -0.433 -0.463 -0.494 -0.509 -0.519 -0.529 -0.521 -0.516 -0.516 -0.513 -0.515 -0.516 -0.527 -0.522 -0.527 -0.534
LIBOR
3-month rates -0.735 -0.737 -0.708 -0.751 -0.817 -0.812 -0.774 -0.712 -0.711 -0.679 -0.707 -0.761 -0.589 -0.619 -0.659 -0.692 -0.710 -0.751 -0.769 -0.771 -0.788 -0.765 -0.755 -0.753 -0.747 -0.747 -0.752 -0.756 -0.769 -0.756 -0.766 -0.779
6-month rates -0.653 -0.684 -0.659 -0.719 -0.802 -0.771 -0.711 -0.650 -0.639 -0.624 -0.663 -0.703 -0.540 -0.575 -0.594 -0.647 -0.658 -0.707 -0.727 -0.729 -0.738 -0.725 -0.711 -0.707 -0.706 -0.703 -0.709 -0.715 -0.723 -0.720 -0.714 -0.721
Sources: BoS, EUROSTAT.
Statistical Appendix40 Slovenian Economic Mirror, No 1/2022
Public finance 2018 2019 2020
2019 2020 2021 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11
CONSOLIDATED BALANCE OF PUBLIC FINANCING (GFS–IMF methodology), current prices
GENERAL GOVERNMENT REVENUES, EUR m
TOTAL REVENUES 18,593.6 19,232.3 18,528.6 4,671.6 5,097.8 4,649.5 4,094.2 4,892.9 4,892.0 4,803.9 5,574.1 5,151.3 1,815.6 1,678.4 1,483.5 1,487.6 1,315.0 1,160.1 1,619.1 1,660.0 1,602.5 1,630.4 1,644.6 1,607.1 1,640.4 1,674.5 1,484.6 1,644.8 1,894.8 1,880.1 1,799.2 1,647.4 1,724.9 1,779.0 1,867.8
Current revenues 17,575.9 18,293.3 17,578.7 4,478.2 4,808.7 4,409.1 3,917.7 4,634.5 4,617.4 4,525.9 5,334.6 4,874.2 1,605.3 1,638.2 1,438.0 1,332.9 1,256.3 1,097.2 1,564.2 1,607.2 1,534.1 1,493.2 1,585.1 1,532.0 1,500.4 1,613.4 1,422.4 1,490.1 1,802.4 1,799.1 1,733.1 1,571.4 1,669.7 1,633.1 1,803.4
Tax revenues 16,225.3 17,179.1 16,460.4 4,169.7 4,555.6 4,159.4 3,578.0 4,343.3 4,379.8 4,241.4 4,902.8 4,565.8 1,522.1 1,581.5 1,358.8 1,219.1 1,171.9 940.5 1,465.6 1,476.5 1,466.9 1,399.9 1,511.1 1,452.0 1,416.7 1,491.5 1,326.7 1,423.2 1,739.7 1,550.9 1,612.3 1,470.3 1,570.2 1,525.3 1,699.0
Taxes on income and 
profit 3,296.4 3,614.0 3,261.8 717.7 987.4 879.9 692.0 764.7 925.2 941.8 1,205.5 785.5 369.0 296.6 292.1 291.3 190.1 204.9 296.9 158.5 302.0 304.2 281.9 301.1 342.2 304.8 317.1 320.0 411.8 414.8 378.9 141.7 334.6 309.2 331.7
Social security 
contributions 6,549.8 7,021.3 7,289.9 1,745.5 1,830.6 1,819.7 1,603.2 1,954.5 1,912.5 1,915.2 1,998.0 1,964.1 664.4 615.1 599.2 605.4 391.2 526.4 685.5 681.5 648.2 624.9 605.4 609.7 697.4 628.1 643.0 644.1 664.9 665.6 667.5 661.3 658.9 643.9 639.5
Taxes on payroll and 
workforce 21.6 23.2 21.6 5.4 6.6 5.9 4.0 5.6 6.1 5.0 5.9 6.0 2.5 2.1 1.9 1.9 1.3 1.1 1.6 1.9 1.8 1.8 2.1 1.9 2.1 1.6 1.6 1.7 2.0 1.9 2.1 2.3 1.8 1.9 2.1
Taxes on property 277.9 296.4 287.3 120.9 81.6 31.0 48.6 111.3 96.4 33.5 84.8 102.2 15.4 10.1 7.6 13.3 13.1 14.7 20.8 40.0 38.7 32.6 45.8 32.1 18.5 9.9 8.7 14.9 19.5 27.3 38.1 35.7 34.1 32.4 43.5
Domestic taxes on 
goods and services 5,989.3 6,126.7 5,493.3 1,565.7 1,643.0 1,376.4 1,069.0 1,565.1 1,482.7 1,268.6 1,566.9 1,692.2 466.6 631.2 446.7 298.5 372.7 285.5 410.8 582.5 510.9 471.7 600.1 506.5 376.1 504.1 350.8 413.7 622.4 447.4 497.0 643.4 517.1 531.7 661.1
Taxes on international 
trade & transactions 89.8 98.6 102.4 25.5 22.1 24.0 24.5 25.3 28.7 28.1 34.6 36.7 6.8 7.2 7.9 8.9 8.0 8.2 8.3 8.2 8.2 8.9 9.0 10.5 9.1 7.6 9.0 11.5 11.6 10.5 12.5 11.4 10.1 15.2 29.1
Other taxes 0.5 -1.1 4.1 -11.1 -15.8 22.5 136.7 -83.4 -71.7 49.2 7.2 -20.9 -2.6 19.2 3.4 -0.1 195.5 -100.4 41.7 3.8 -42.9 -44.3 -33.1 -10.0 -28.7 35.4 -3.5 17.3 7.5 -16.5 16.2 -25.5 13.5 -8.9 -8.0
Non-tax revenues 1,350.6 1,114.2 1,118.2 308.5 253.1 249.7 339.7 291.3 237.6 284.4 431.7 308.4 83.2 56.7 79.2 113.8 84.4 156.7 98.6 130.7 67.2 93.4 73.9 80.0 83.6 121.9 95.7 66.9 62.7 248.2 120.8 101.1 99.5 107.7 104.4
Capital revenues 152.8 136.4 146.9 34.4 46.9 31.2 20.1 31.3 64.3 36.4 54.9 56.0 19.7 11.3 12.2 7.8 5.7 6.3 8.1 10.9 9.8 10.6 18.1 14.6 31.6 4.1 14.4 17.8 16.4 15.3 23.2 23.4 13.4 19.2 27.5
Grants 12.4 13.8 17.5 6.3 1.2 8.1 1.4 6.9 1.1 6.7 2.0 10.3 -3.8 1.0 5.4 1.8 1.1 0.2 0.1 0.5 0.4 6.0 0.3 0.1 0.7 1.0 5.6 0.2 0.5 0.4 1.0 0.4 0.4 9.5 0.4
Transferred revenues 55.6 58.3 54.8 50.3 3.1 0.2 21.7 30.6 2.3 1.7 2.1 51.4 3.3 0.1 0.0 0.0 0.1 0.1 21.4 0.5 30.1 0.0 0.0 1.4 0.9 0.9 0.5 0.4 0.0 0.2 1.9 31.1 20.0 0.3 0.7
Receipts from the EU budget 796.9 730.5 730.7 102.4 238.0 200.9 133.3 189.6 206.9 233.3 180.5 159.5 191.1 27.9 27.9 145.1 51.8 56.3 25.2 40.9 28.0 120.6 41.1 59.0 106.8 55.2 41.8 136.3 75.5 65.0 40.0 21.1 21.4 116.9 35.9
GENERAL GOVERNMENT EXPENDITURES, EUR m
TOTAL EXPENDITURES 18,068.0 18,968.8 22,070.6 4,705.7 5,067.2 5,024.6 5,703.7 5,250.2 6,092.2 6,101.8 5,932.0 5,579.4 1,898.4 1,723.2 1,498.0 1,803.4 1,730.1 1,755.2 2,218.4 1,880.1 1,644.0 1,726.0 1,668.8 1,835.6 2,587.8 2,067.3 1,724.0 2,310.5 1,772.6 1,970.0 2,189.4 1,901.1 1,885.3 1,793.1 1,736.4
Current expenditures 7,966.5 8,228.3 9,127.8 2,007.6 2,094.0 2,359.6 2,074.0 2,201.0 2,493.2 2,658.4 2,494.9 2,362.6 755.9 799.9 625.1 934.5 684.8 647.1 742.1 754.3 682.0 764.7 681.2 745.6 1,066.5 789.4 719.6 1,149.5 707.6 858.9 928.4 794.6 832.6 735.5 662.1
Wages, salaries and other 
personnel expenditures 4,167.9 4,470.5 4,965.3 1,101.6 1,121.2 1,183.0 1,318.3 1,242.2 1,221.7 1,483.5 1,623.4 1,330.1 375.4 403.1 385.6 394.3 381.4 413.0 524.0 469.4 390.2 382.7 374.7 406.5 440.5 501.9 432.0 549.6 423.6 554.4 645.4 448.8 487.7 393.6 402.9
Expenditures on goods 
and services 2,633.7 2,728.0 3,020.7 673.8 786.0 686.8 661.6 739.0 933.4 724.9 766.6 794.1 303.9 235.1 205.0 246.8 250.8 215.5 195.3 232.1 206.4 300.5 228.9 249.1 455.4 195.8 235.8 293.3 229.9 282.5 254.3 267.0 267.6 259.5 233.1
Interest payments 867.9 791.5 778.0 175.7 88.9 442.4 53.7 187.0 95.0 386.9 45.5 204.6 13.3 153.2 21.3 267.9 43.3 4.2 6.2 45.8 68.6 72.6 14.8 66.8 13.4 82.5 24.8 279.7 36.3 3.9 5.3 63.1 68.4 73.1 15.8
Reserves 296.9 238.4 363.8 56.4 97.9 47.3 40.5 32.8 243.2 63.1 59.5 33.9 63.2 8.6 13.3 25.5 9.4 14.4 16.6 7.1 16.8 8.9 62.8 23.1 157.2 9.2 27.0 26.9 17.9 18.2 23.4 15.7 8.9 9.3 10.4
Current transfers 8,236.6 8,704.2 10,867.7 2,201.2 2,208.1 2,308.7 3,219.2 2,632.9 2,706.9 3,018.1 2,984.0 2,605.1 756.0 781.6 759.5 767.6 887.4 945.4 1,386.5 986.3 830.7 815.9 799.3 867.4 1,040.2 1,156.8 837.8 1,023.5 914.2 958.0 1,111.8 929.2 836.7 839.3 829.6
Subsidies 443.9 467.9 1,449.3 53.5 139.3 167.9 711.7 305.5 264.2 296.4 302.3 111.5 56.8 82.8 39.7 45.4 53.1 183.9 474.8 224.6 46.7 34.1 54.8 77.2 132.3 171.9 67.4 57.2 84.7 116.0 101.6 43.3 46.8 21.3 12.3
Current transfers 
to individuals and 
households
6,925.8 7,323.9 8,250.8 1,912.6 1,810.3 1,902.6 2,253.7 2,061.9 2,032.5 2,494.4 2,374.0 2,158.6 604.4 623.5 643.0 636.0 742.7 678.2 832.8 666.2 695.2 700.4 657.8 675.4 699.4 972.6 674.8 846.9 734.0 731.5 908.5 779.9 672.7 706.1 720.5
Current transfers to non-
profit institutions, other 
current domestic transfers
793.5 827.7 1,083.2 215.3 232.7 215.0 242.6 248.9 376.7 197.4 276.6 298.3 86.8 66.5 68.5 80.0 87.2 78.7 76.7 89.0 85.6 74.3 82.4 90.0 204.3 3.1 88.6 105.7 77.2 105.1 94.3 95.9 101.0 101.5 88.0
Current transfers abroad 73.4 84.7 84.4 19.8 25.9 23.2 11.2 16.6 33.4 29.9 31.0 36.7 8.0 8.8 8.4 6.1 4.3 4.6 2.2 6.4 3.2 7.0 4.4 24.8 4.2 9.3 7.0 13.6 18.2 5.4 7.4 10.2 16.1 10.4 8.7
Capital expenditures 1,159.9 1,252.9 1,230.6 315.4 541.2 172.8 232.7 263.2 561.9 194.4 278.5 401.7 276.6 53.5 56.9 62.4 104.5 87.7 40.5 84.8 87.4 91.0 114.3 124.7 322.9 47.3 62.8 84.3 86.6 91.3 100.6 128.9 138.0 134.8 159.0
Capital transfers 271.6 273.6 318.5 57.8 141.6 29.6 42.9 68.0 178.0 33.4 55.5 86.2 86.6 11.0 8.0 10.5 11.0 15.3 16.6 26.9 22.3 18.8 32.1 33.3 112.6 4.8 11.4 17.3 23.9 14.5 17.1 19.4 32.7 34.1 32.5
Payments to the EU budget 433.4 509.7 526.0 123.8 82.3 154.0 134.7 85.1 152.2 197.5 119.1 123.8 23.4 77.1 48.5 28.4 42.3 59.7 32.7 27.8 21.7 35.6 41.9 64.6 45.7 69.1 92.5 35.9 40.4 47.2 31.4 29.1 45.3 49.4 53.2
SURPLUS / DEFICIT 525.6 263.5 -3,542.1 -34.2 30.6 -375.2 -1,609.5 -357.3 -1,200.1 -1,297.9 -358.0 -428.1 -82.8 -44.8 -14.6 -315.8 -415.1 -595.1 -599.3 -220.1 -41.5 -95.6 -24.2 -228.5 -947.4 -392.8 -239.4 -665.7 122.2 -89.9 -390.3 -253.7 -160.4 -14.0 131.4
Source: MF.
Statistical Appendix 41Slovenian Economic Mirror, No 1/2022
Public finance 2018 2019 2020
2019 2020 2021 2020 2020 2021
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11
CONSOLIDATED BALANCE OF PUBLIC FINANCING (GFS–IMF methodology), current prices
GENERAL GOVERNMENT REVENUES, EUR m
TOTAL REVENUES 18,593.6 19,232.3 18,528.6 4,671.6 5,097.8 4,649.5 4,094.2 4,892.9 4,892.0 4,803.9 5,574.1 5,151.3 1,815.6 1,678.4 1,483.5 1,487.6 1,315.0 1,160.1 1,619.1 1,660.0 1,602.5 1,630.4 1,644.6 1,607.1 1,640.4 1,674.5 1,484.6 1,644.8 1,894.8 1,880.1 1,799.2 1,647.4 1,724.9 1,779.0 1,867.8
Current revenues 17,575.9 18,293.3 17,578.7 4,478.2 4,808.7 4,409.1 3,917.7 4,634.5 4,617.4 4,525.9 5,334.6 4,874.2 1,605.3 1,638.2 1,438.0 1,332.9 1,256.3 1,097.2 1,564.2 1,607.2 1,534.1 1,493.2 1,585.1 1,532.0 1,500.4 1,613.4 1,422.4 1,490.1 1,802.4 1,799.1 1,733.1 1,571.4 1,669.7 1,633.1 1,803.4
Tax revenues 16,225.3 17,179.1 16,460.4 4,169.7 4,555.6 4,159.4 3,578.0 4,343.3 4,379.8 4,241.4 4,902.8 4,565.8 1,522.1 1,581.5 1,358.8 1,219.1 1,171.9 940.5 1,465.6 1,476.5 1,466.9 1,399.9 1,511.1 1,452.0 1,416.7 1,491.5 1,326.7 1,423.2 1,739.7 1,550.9 1,612.3 1,470.3 1,570.2 1,525.3 1,699.0
Taxes on income and 
profit 3,296.4 3,614.0 3,261.8 717.7 987.4 879.9 692.0 764.7 925.2 941.8 1,205.5 785.5 369.0 296.6 292.1 291.3 190.1 204.9 296.9 158.5 302.0 304.2 281.9 301.1 342.2 304.8 317.1 320.0 411.8 414.8 378.9 141.7 334.6 309.2 331.7
Social security 
contributions 6,549.8 7,021.3 7,289.9 1,745.5 1,830.6 1,819.7 1,603.2 1,954.5 1,912.5 1,915.2 1,998.0 1,964.1 664.4 615.1 599.2 605.4 391.2 526.4 685.5 681.5 648.2 624.9 605.4 609.7 697.4 628.1 643.0 644.1 664.9 665.6 667.5 661.3 658.9 643.9 639.5
Taxes on payroll and 
workforce 21.6 23.2 21.6 5.4 6.6 5.9 4.0 5.6 6.1 5.0 5.9 6.0 2.5 2.1 1.9 1.9 1.3 1.1 1.6 1.9 1.8 1.8 2.1 1.9 2.1 1.6 1.6 1.7 2.0 1.9 2.1 2.3 1.8 1.9 2.1
Taxes on property 277.9 296.4 287.3 120.9 81.6 31.0 48.6 111.3 96.4 33.5 84.8 102.2 15.4 10.1 7.6 13.3 13.1 14.7 20.8 40.0 38.7 32.6 45.8 32.1 18.5 9.9 8.7 14.9 19.5 27.3 38.1 35.7 34.1 32.4 43.5
Domestic taxes on 
goods and services 5,989.3 6,126.7 5,493.3 1,565.7 1,643.0 1,376.4 1,069.0 1,565.1 1,482.7 1,268.6 1,566.9 1,692.2 466.6 631.2 446.7 298.5 372.7 285.5 410.8 582.5 510.9 471.7 600.1 506.5 376.1 504.1 350.8 413.7 622.4 447.4 497.0 643.4 517.1 531.7 661.1
Taxes on international 
trade & transactions 89.8 98.6 102.4 25.5 22.1 24.0 24.5 25.3 28.7 28.1 34.6 36.7 6.8 7.2 7.9 8.9 8.0 8.2 8.3 8.2 8.2 8.9 9.0 10.5 9.1 7.6 9.0 11.5 11.6 10.5 12.5 11.4 10.1 15.2 29.1
Other taxes 0.5 -1.1 4.1 -11.1 -15.8 22.5 136.7 -83.4 -71.7 49.2 7.2 -20.9 -2.6 19.2 3.4 -0.1 195.5 -100.4 41.7 3.8 -42.9 -44.3 -33.1 -10.0 -28.7 35.4 -3.5 17.3 7.5 -16.5 16.2 -25.5 13.5 -8.9 -8.0
Non-tax revenues 1,350.6 1,114.2 1,118.2 308.5 253.1 249.7 339.7 291.3 237.6 284.4 431.7 308.4 83.2 56.7 79.2 113.8 84.4 156.7 98.6 130.7 67.2 93.4 73.9 80.0 83.6 121.9 95.7 66.9 62.7 248.2 120.8 101.1 99.5 107.7 104.4
Capital revenues 152.8 136.4 146.9 34.4 46.9 31.2 20.1 31.3 64.3 36.4 54.9 56.0 19.7 11.3 12.2 7.8 5.7 6.3 8.1 10.9 9.8 10.6 18.1 14.6 31.6 4.1 14.4 17.8 16.4 15.3 23.2 23.4 13.4 19.2 27.5
Grants 12.4 13.8 17.5 6.3 1.2 8.1 1.4 6.9 1.1 6.7 2.0 10.3 -3.8 1.0 5.4 1.8 1.1 0.2 0.1 0.5 0.4 6.0 0.3 0.1 0.7 1.0 5.6 0.2 0.5 0.4 1.0 0.4 0.4 9.5 0.4
Transferred revenues 55.6 58.3 54.8 50.3 3.1 0.2 21.7 30.6 2.3 1.7 2.1 51.4 3.3 0.1 0.0 0.0 0.1 0.1 21.4 0.5 30.1 0.0 0.0 1.4 0.9 0.9 0.5 0.4 0.0 0.2 1.9 31.1 20.0 0.3 0.7
Receipts from the EU budget 796.9 730.5 730.7 102.4 238.0 200.9 133.3 189.6 206.9 233.3 180.5 159.5 191.1 27.9 27.9 145.1 51.8 56.3 25.2 40.9 28.0 120.6 41.1 59.0 106.8 55.2 41.8 136.3 75.5 65.0 40.0 21.1 21.4 116.9 35.9
GENERAL GOVERNMENT EXPENDITURES, EUR m
TOTAL EXPENDITURES 18,068.0 18,968.8 22,070.6 4,705.7 5,067.2 5,024.6 5,703.7 5,250.2 6,092.2 6,101.8 5,932.0 5,579.4 1,898.4 1,723.2 1,498.0 1,803.4 1,730.1 1,755.2 2,218.4 1,880.1 1,644.0 1,726.0 1,668.8 1,835.6 2,587.8 2,067.3 1,724.0 2,310.5 1,772.6 1,970.0 2,189.4 1,901.1 1,885.3 1,793.1 1,736.4
Current expenditures 7,966.5 8,228.3 9,127.8 2,007.6 2,094.0 2,359.6 2,074.0 2,201.0 2,493.2 2,658.4 2,494.9 2,362.6 755.9 799.9 625.1 934.5 684.8 647.1 742.1 754.3 682.0 764.7 681.2 745.6 1,066.5 789.4 719.6 1,149.5 707.6 858.9 928.4 794.6 832.6 735.5 662.1
Wages, salaries and other 
personnel expenditures 4,167.9 4,470.5 4,965.3 1,101.6 1,121.2 1,183.0 1,318.3 1,242.2 1,221.7 1,483.5 1,623.4 1,330.1 375.4 403.1 385.6 394.3 381.4 413.0 524.0 469.4 390.2 382.7 374.7 406.5 440.5 501.9 432.0 549.6 423.6 554.4 645.4 448.8 487.7 393.6 402.9
Expenditures on goods 
and services 2,633.7 2,728.0 3,020.7 673.8 786.0 686.8 661.6 739.0 933.4 724.9 766.6 794.1 303.9 235.1 205.0 246.8 250.8 215.5 195.3 232.1 206.4 300.5 228.9 249.1 455.4 195.8 235.8 293.3 229.9 282.5 254.3 267.0 267.6 259.5 233.1
Interest payments 867.9 791.5 778.0 175.7 88.9 442.4 53.7 187.0 95.0 386.9 45.5 204.6 13.3 153.2 21.3 267.9 43.3 4.2 6.2 45.8 68.6 72.6 14.8 66.8 13.4 82.5 24.8 279.7 36.3 3.9 5.3 63.1 68.4 73.1 15.8
Reserves 296.9 238.4 363.8 56.4 97.9 47.3 40.5 32.8 243.2 63.1 59.5 33.9 63.2 8.6 13.3 25.5 9.4 14.4 16.6 7.1 16.8 8.9 62.8 23.1 157.2 9.2 27.0 26.9 17.9 18.2 23.4 15.7 8.9 9.3 10.4
Current transfers 8,236.6 8,704.2 10,867.7 2,201.2 2,208.1 2,308.7 3,219.2 2,632.9 2,706.9 3,018.1 2,984.0 2,605.1 756.0 781.6 759.5 767.6 887.4 945.4 1,386.5 986.3 830.7 815.9 799.3 867.4 1,040.2 1,156.8 837.8 1,023.5 914.2 958.0 1,111.8 929.2 836.7 839.3 829.6
Subsidies 443.9 467.9 1,449.3 53.5 139.3 167.9 711.7 305.5 264.2 296.4 302.3 111.5 56.8 82.8 39.7 45.4 53.1 183.9 474.8 224.6 46.7 34.1 54.8 77.2 132.3 171.9 67.4 57.2 84.7 116.0 101.6 43.3 46.8 21.3 12.3
Current transfers 
to individuals and 
households
6,925.8 7,323.9 8,250.8 1,912.6 1,810.3 1,902.6 2,253.7 2,061.9 2,032.5 2,494.4 2,374.0 2,158.6 604.4 623.5 643.0 636.0 742.7 678.2 832.8 666.2 695.2 700.4 657.8 675.4 699.4 972.6 674.8 846.9 734.0 731.5 908.5 779.9 672.7 706.1 720.5
Current transfers to non-
profit institutions, other 
current domestic transfers
793.5 827.7 1,083.2 215.3 232.7 215.0 242.6 248.9 376.7 197.4 276.6 298.3 86.8 66.5 68.5 80.0 87.2 78.7 76.7 89.0 85.6 74.3 82.4 90.0 204.3 3.1 88.6 105.7 77.2 105.1 94.3 95.9 101.0 101.5 88.0
Current transfers abroad 73.4 84.7 84.4 19.8 25.9 23.2 11.2 16.6 33.4 29.9 31.0 36.7 8.0 8.8 8.4 6.1 4.3 4.6 2.2 6.4 3.2 7.0 4.4 24.8 4.2 9.3 7.0 13.6 18.2 5.4 7.4 10.2 16.1 10.4 8.7
Capital expenditures 1,159.9 1,252.9 1,230.6 315.4 541.2 172.8 232.7 263.2 561.9 194.4 278.5 401.7 276.6 53.5 56.9 62.4 104.5 87.7 40.5 84.8 87.4 91.0 114.3 124.7 322.9 47.3 62.8 84.3 86.6 91.3 100.6 128.9 138.0 134.8 159.0
Capital transfers 271.6 273.6 318.5 57.8 141.6 29.6 42.9 68.0 178.0 33.4 55.5 86.2 86.6 11.0 8.0 10.5 11.0 15.3 16.6 26.9 22.3 18.8 32.1 33.3 112.6 4.8 11.4 17.3 23.9 14.5 17.1 19.4 32.7 34.1 32.5
Payments to the EU budget 433.4 509.7 526.0 123.8 82.3 154.0 134.7 85.1 152.2 197.5 119.1 123.8 23.4 77.1 48.5 28.4 42.3 59.7 32.7 27.8 21.7 35.6 41.9 64.6 45.7 69.1 92.5 35.9 40.4 47.2 31.4 29.1 45.3 49.4 53.2
SURPLUS / DEFICIT 525.6 263.5 -3,542.1 -34.2 30.6 -375.2 -1,609.5 -357.3 -1,200.1 -1,297.9 -358.0 -428.1 -82.8 -44.8 -14.6 -315.8 -415.1 -595.1 -599.3 -220.1 -41.5 -95.6 -24.2 -228.5 -947.4 -392.8 -239.4 -665.7 122.2 -89.9 -390.3 -253.7 -160.4 -14.0 131.4
Source: MF.
Acronyms42 Slovenian Economic Mirror, No 1/2022
Acronyms
Acronyms in the text  
AJPES – Agency of the Republic of Slovenia for Public Legal Records and Related Services, BoS – Bank of Slovenia, DARS 
– Motorway Company of the Republic of Slovenia, EBA – European Banking Authority, EC – European Commission, ECB 
– European Central Bank, EIA – Energy Information Administration, EMMI – European Money Markets Institute, ENTSO-E – 
European Network of Transmission System Operators for Electricity, ESF – European Social Fund, ESI – Economic Sentiment 
Indicator, ESRR – European Regional Development Fund, ESS – Employment Service of Slovenia, 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, FURS – Financial Administration of the Republic of Slovenia, GDP– Gross domestic 
product, GNI – gross national income, ICT – Information and Communication Technology, IMAD – Institute of Macroeconomic 
Analysis and Development, IMF – International Monetary Fund, MF – Ministry of Finance, NEER – Nominal Effective Exchange 
Rate, NFI – Non-monetary Financial Institutions, OECD – Organization for Economic Co-operation and Development, PEEP 
– Pandemic emergency purchase programme, PMI – Purchasing Managers' Index, REER – Real Effective Exchange Rate, RS 
– Republic of Slovenia, SRE – Statistical Register of Employment, SURS – Statistical Office of the Republic of Slovenia, SVRK – 
Government Office for Development and European Cohesion Policy, USA – United States of America, USD – US Dollar, VAT 
– value added tax, WEO – World Economic Outlook, ZZZS – The Health Insurance Institute of Slovenia.
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 of recorded 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 equipment n.e.c., 29 – Manufacture of motor vehicles, trailers and 
semi-trailers, 30 – Manufacture of other 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 remediation activities, 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 
AT-Austria, BA-Bosnia and Herzegovina, BE-Belgium, BG-Bulgaria, BY-Belarus, CH-Switzerland, 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, IT-Italy, JP-Japan, LU-Luxembourg, LT-Lithuania, LV-Latvia, MT-Malta, 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. 1, Vol. XXVIII, 2022