sl ov en ia n ec on om ic m ir ro r N o. 6 , V ol . X XV II, 2 02 1 Slovenian Economic Mirror (Ekonomsko ogledalo) No. 6 / Vol. XXVII / 2021 Publisher: IMAD, Ljubljana, Gregorčičeva 27 Responsible Person: Marijana Bednaš, MSc, Director Editor: Barbara Bratuž Ferk, MSc Authors: Barbara Bratuž Ferk, MSc; Urška Brodar; Lejla Fajić; Tina Golob Šušteršič, PhD; Marjan Hafner, MSc; Matevž Hribernik, MSc; Katarina Ivas, MSc; Mojca Koprivnikar Šušteršič; Janez Kušar, MSc; Andrej Kuštrin, 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, July 2021 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. Contents In the spotlight ........................................................................................................................................... 3 Current economic trends ....................................................................................................................... 7 International environment .......................................................................................................................9 Economic developments in Slovenia ................................................................................................. 11 Labour market ............................................................................................................................................ 17 Prices .............................................................................................................................................................. 18 Financial markets ....................................................................................................................................... 19 Balance of payments ................................................................................................................................ 20 Public finance ............................................................................................................................................. 21 Statistical appendix ...............................................................................................................................23 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 9th July 2021. In the spotlight 3Slovenian Economic Mirror, No 6/2021 In the spotlight Economic activity in the international environment strengthened in the second quarter. After contracting in the first quarter, economic activity in the euro area recovered significantly in the second quarter, according to available economic indicators. The composite Purchasing Managers' Index (PMI) showed a marked upturn in the services sector in May and June and a continued favourable trend in manufacturing. Economic sentiment also improved significantly across all sectors in June. International institutions expect growth to pick up further in the second half of the year due to progress in vaccination; the ECB and the EC forecast a similar growth next year, 4.6% and 4.8% respectively. The global economy also seems to be recovering. In June, the composite PMI remained well above its long-term average, pointing to increased activity in the manufacturing and services sectors. Despite disruptions in global supply chains, growth of global trade in goods continued and is expected to continue in the coming months. In Slovenia, the outlook for economic growth remains favourable, with most short-term indicators pointing to relatively high year-on-year growth. Data on the export-oriented part of the economy, which was less affected by the epidemic, show that Slovenia's export market share in the EU market continued to strengthen in the first quarter of this year. With a monthly decline, the volumes of trade in goods and manufacturing production in May were still well above the comparable pre-epidemic levels. Export expectations improved again in June, and the continued favourable trends in the export-oriented part of the economy can also be seen in the volume of freight traffic on Slovenian motorways and in electricity consumption. Both were higher year-on- year, with the former already surpassing the level of the same period in 2019 and the latter narrowing its gap as tourism recovered. Confidence in manufacturing and construction remained high compared to a year ago. According to the latest data, construction activity declined in April, but remained higher year-on-year. Preliminary data on turnover in trade and service activities for May and data on turnover according to data on fiscal verification of invoices for June also point to growth. This is due to the easing of measures in these sectors, which has also led to an improvement in confidence indicators in trade and service activities. Consumer confidence is still low, but has been improving in recent months. All this, together with better conditions on the labour market, also points to higher private consumption. Households held back on spending over the past year, partly because of uncertainty. With a relatively high level of disposable income, the volume of household deposits therefore rose sharply (it amounted to almost EUR 24 billion in May, which is almost EUR 3 billion more than before the epidemic). The situation on the labour market is much better than last year, with the number of unemployed and employed people almost back to pre-crisis levels. In addition to seasonal influences, which were not significantly different from those in the pre-epidemic period, the decline can also be attributed to the gradual relaxation of containment measures and the economic recovery. At the end of June, 71,094 people were unemployed, which is a fifth less than a year ago and similar to the end of June 2019. According to the Statistical Register of Employment (SRE), the number of employed people was 1% higher in April year-on-year, mainly due to a sharp fall in April 2020 due to the outbreak of the epidemic, and similar to April 2019. The largest year-on-year decline was recorded in the sectors most affected by the containment measures, namely accommodation and food service activities and administrative and support service activities, while employment increased the most in human health and social work activities. After a strong year-on- year increase in average wages in previous months, growth remained moderate in April. It was lower in the private sector and relatively high in the public sector despite the high base last year. Consumer price growth slowed slightly, down to 1.4% in June from 2.1% in May, but industrial producer price growth is being boosted by the rise in commodity prices. In June, the prices of food and services remained lower year-on-year, although they gradually approached year-earlier levels. Year-on-year price increases for semi-durable goods were broadly unchanged, while price increases for durable goods nearly halved compared with the previous month. The contribution from energy prices, which, with a high year-on-year increase in the prices of petroleum products, contribute the most In the spotlight4 Slovenian Economic Mirror, No 6/2021 to current inflation, decreased significantly in June due to the base effect. Year-on-year growth in Slovenian industrial producer prices continued to strengthen in May, reaching 3.5%, the highest level since 2011. Higher commodity prices contributed the most to the growth, with metal production prices rising 15% year-on-year. Growth of energy and capital goods prices also strengthened. The overall deficit of the consolidated balance of public finances amounted to EUR 1,266 million in the first five months and was slightly lower than a year ago. Turnover in the first five months was a fifth higher than a year ago, with tax revenues rising in particular as containment measures gradually eased. On the expenditure side, the largest increase was recorded in wages and current transfers, mainly due to payments for the implementation of measures to contain the second wave of the epidemic. Slovenia’s net budgetary position against the EU budget was positive in the first five months (at EUR 85.7 million). In the spotlight 5Slovenian Economic Mirror, No 6/2021 22 26 30 34 38 42 46 50 54 58 62 Ja n 16 M ay 1 6 Se p 16 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 Va lu e Composite index (PMI) Manufacturing Services Note: A reading above 50 signals an expansion, while a figure below 50 indicates a contraction. According to survey indicators, growth of global economic activity accelerated in the second quarter 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 180 190 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 08 =1 00 Source: SURS; calculations by IMAD. Merchandise exports Ind. prod. in manufacturing Value of construction output Turnover in trade Turnover in services (nom.) The outlook for economic growth in Slovenia remains favourable 8 11 14 17 20 23 26 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 4- qu ar te r m ov in g av er ag es , i n % Se as on al ly a dj us te d in de x 20 10 =1 00 Source: SURS; calculations by IMAD. Note: The Q2 2021 figure is the average value for April and May. Household consumption Real turnover in the sale of non-food products Real turnover in the sale of food products Sale of passenger cars to natural persons Household saving rate (right axis) As measures ease, household consumption gradually recovers -6,000 -5,000 -4,000 -3,000 -2,000 -1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 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 m ul at iv e, in E U R m 12 -m on th c um m ul at iv e, in E U R m General government balance (right axis) Revenue Expenditure Source: MF, Bulletin of Government Finance; calculations by IMAD. After a surplus in April, the consolidated balance of public finances showed a deficit again in May, but smaller than in the first three months of the year Consumer price growth slowed slightly in June with high energy prices still contributing the most to it -2 -1 0 1 2 3 4 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 The labour market is recovering and the number of unemployed is the same as before the epidemic 68 70 72 74 76 78 80 82 84 86 88 90 92 94 Ja n 19 Fe b 19 M ar 1 9 A pr 1 9 M ay 1 9 Ju n 19 Ju l 1 9 A ug 1 9 Se p 19 O ct 1 9 N ov 1 9 D ec 1 9 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 N um be r o f r eg is te re d un em pl oy ed p er so ns , i n 1, 00 0 Source: ESS. cu rr en t e co no m ic tr en ds Current Economic Trends 9Slovenian Economic Mirror, No 6/2021 Figure 1: World trade and industrial production Figure 2: The euro area composite PMI According to survey indicators, growth of global economic activity accelerated in the second quarter. In June, the composite Purchasing Managers’ Index (PMI) for the global economy remained well above its long-term average, pointing to increased activity in the manufacturing and services sectors. Despite disruptions in global supply chains, growth of global trade in goods continued in the second quarter, according to available indicators. The PMI for new export orders in the manufacturing sector recorded another high level in June, pointing to a further increase in global trade in goods in the coming months. According to the latest OECD forecast, global economic growth will be 5.8% this year and 4.4% next year, and global trade will recover with growth of 8.2% this year and 5.8% next year. Economic activity in the euro area recovered in the second quarter. According to Eurostat’s estimate, economic activity in the first quarter contracted by 0.3% (by 1.3% year-on-year) compared to the last quarter of 2020 and was 5.1% lower than in the last quarter of 2019. The contraction was largely due to lower private consumption. According to the available economic indicators, economic activity recovered significantly in the second quarter. The composite PMI in May and June showed a significant rebound in services activity and a continued favourable trend in manufacturing. The euro area Economic Sentiment Indicator (ESI) also improved significantly in June, rising to its highest level in 21 years. Confidence was up in all activities, the most in services, and among consumers. International institutions expect growth to accelerate significantly in the second half of the year as a result of progress in vaccination. The ECB and the EC forecast growth of 4.6% and 4.8% respectively this year and similar growth next year (namely 4.7% and 4.5%). 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 Composite index Manufacturing Services Source: Markit. Note: A reading above 50 signals an expansion, while a figure below 50 indicates a contraction. 25 30 35 40 45 50 55 60 100 105 110 115 120 125 130 135 140 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 In di ca to r v al ue Vo lu m e in de x 20 10 =1 00 , s ea so na lly a dj us te d Source: CPB, Markit. Goods trade Industrial production New export orders (right axis) Table 1: Brent oil prices, the USD/EUR exchange rate and EURIBOR average change, in %* 2020 V 21 VI 21 VI 21/V 21 VI 21/VI 20 I-VI 21/I-VI 20 Brent USD, per barrel 41.83 68.49 73.16 6.8 81.7 62.5 Brent EUR, per barrel 36.57 56.41 60.75 7.7 69.8 47.6 USD/EUR 1.142 1.215 1.205 -0.7 7.1 9.5 3-month EURIBOR, in % -0.427 -0.540 0.543 -0.3 -16.7 18.8 Source: EIA, ECB, EMMI Euribor; calculations by IMAD. Note: * in Euribor change in basis points. The international environment Current Economic Trends10 Slovenian Economic Mirror, No 6/2021 Figure 3: Effective exchange rate The appreciation of the euro against a basket of currencies remained relatively stable in the second quarter. The initial global spread of the COVID-19 epidemic last year led to greater currency fluctuations; this year, movements are more stable. With heightened macroeconomic uncertainty, the only exception among the currencies of Slovenia’s main trading partners is the sharp depreciation of the Turkish lira in the second quarter. Contrarily, the currencies of the Visegrad Group countries and the British pound appreciated slightly against the euro. Slovenia's nominal effective exchange rate (NEER), which indicates the ratio of the euro to a basket of trading partners’ currencies,1 thus remained at a similar level for the third consecutive quarter. With inflation comparable to that of Slovenia’s trading partners, the price competitiveness indicator (REER-HICP) also remained at the previous quarter’s level. 94 96 98 100 102 104 106 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 2015 2016 2017 2018 2019 2020 2021 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 (narrow group) NEER (broad group) REER (broad group) Source: ECB, calculations by IMAD. Note: An increase in the index implies an appreciation of the euro against the basket of currencies and thus pressure on price competitiveness. The narrow group represents the exchange rate of the euro against the currencies of 37 trading partners and the broad group against the currencies of 60 trading partners (including Russia and Turkey). 1 Weighted according to their importance in external trade flows specific for Slovenia. Current Economic Trends 11Slovenian Economic Mirror, No 6/2021 Figure 4: Short-term indicators of economic activity in Slovenia In Slovenia, the outlook for economic growth remains favourable, with most short-term indicators pointing to a relatively high year-on-year growth. Data on the export-oriented part of the economy, which was less affected by the epidemic, show that Slovenia's export market share in the EU market continued to strengthen in the first quarter of this year. Despite a monthly decline, the volumes of trade in goods and manufacturing production in May were still well above the comparable pre-epidemic levels. Export expectations continued to improve in June, and the continued favourable trends in the export-oriented part of the economy can also be seen in the volume of freight traffic on Slovenian motorways and in electricity consumption. Both were higher year- on-year, with the former already surpassing the level of the same period in 2019 and the latter narrowing its gap as tourism recovered. Confidence in manufacturing and construction remained high compared to a year ago. According to the latest data, construction activity declined in April, but remained higher year-on-year. Preliminary data on turnover in trade and service activities for May and data on turnover according to data on fiscal verification of invoices for June also point to growth. This is due to the easing of measures in these sectors, which has also led to an improvement in confidence indicators in trade and service activities. Consumer confidence is still low, but has been improving in recent months. All this, together with better conditions on the labour market, also points to higher private consumption. Households held back on spending over the past year, partly because of uncertainty. With a relatively high level of disposable income, the volume of household deposits rose sharply (it amounted to almost EUR 24 billion in May, which is almost EUR 3 billion more than before the epidemic). 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 180 190 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 08 =1 00 Source: SURS; calculations by IMAD. Merchandise exports Ind. prod. in manufacturing Value of construction output Turnover in trade Turnover in services (nom.) Figure 5: Electricity consumption Electricity consumption in June was 6% higher year-on-year but 7% lower than in June of the pre- crisis year 2019. The reason for the year-on-year higher consumption was last year’s low base. However, consumption remained lower than in June 2019, mainly due to reduced tourism activities. Year-on-year higher consumption was also recorded in the majority of Slovenia’s main trading partners (around 5% in France, Germany and Croatia and 9% in Italy), except in Austria, where it was 1% lower. Compared to June 2019, consumption decreased in Austria (5%), Croatia (4%) and Italy (6%), while it remained about the same in Germany and increased by 1% in France. -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 30 35 40 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 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 6/2021 Figure 7: Traffic of electronically tolled vehicles on Slovenian motorways Freight traffic on Slovenian motorways2 in June was up 20% year-on-year and up 7% compared to June 2019. Domestic vehicle traffic was 17% higher and foreign vehicle traffic 22% higher than in the same month last year. These strong year-on-year growth rates are a consequence of the base effect, as traffic volumes in the same period of the previous year were still significantly lower after the first wave of the epidemic. Compared to the same period in 2019, June saw a 13% increase in domestic vehicle traffic and a 3% increase in foreign vehicle traffic. The favourable traffic trend compared to the same month in the pre-crisis year could also be attributed to the fact that there were two more working days this year. -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 Y- on -y c ha ng e, in % Tolled vehicles Domestic Foreign Source: Internal reports obtained from DARS; calculations by IMAD. Figure 8: Fiscal verification of invoices According to data on the fiscal verification of invoices, turnover in June was 8% higher year-on-year and 7% higher than in the same period of 2019. Positive trends in trade continued, with sales 5% higher year-on-year and 10% higher than June 2019. In most sectors, particularly those related to tourism (accommodation, gambling and betting, travel agencies), as well as arts, entertainment and recreation and personal services, turnover growth was even higher year-on-year, but about a fifth lower than in the same period of 2019, reflecting the ongoing constraints on certain business activities. Total turnover in June was 7% higher than 2019 levels, also due to two more working days this year. -40 -30 -20 -10 0 10 20 30 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 Y- on -y c ha ng e, in % Source: FURS Financial Administration of the Republic of Slovenia; calculations by IMAD. 2 Measured in kilometres driven. Figure 6: Electricity consumption by consumption group In May, industrial electricity consumption and small business electricity consumption were higher year-on- year, with a smaller gap compared to the same period in the pre-crisis year 2019 than in the previous month. In May, industrial electricity consumption was up 19.1% and small business electricity consumption was up 10.6% year-on-year. This is mainly due to last year's low base, when electricity consumption was significantly lower during the first wave of the epidemic due to containment measures and the resulting lower foreign demand, supply chain disruptions and production shutdowns at certain companies. Household consumption was also higher year-on-year, by 4  %. Relative to May 2019, industrial consumption decreased by 2.1% (4.9% in April) and small business consumption decreased by 8.7% (10.9% in April), while household consumption increased by 3.1%. -30 -20 -10 0 10 20 30 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 Ye ar -o n- ye ar c ha ng e, in % Source: SODO. Industry Households Small business consumption Total distribution network consumption Current Economic Trends 13Slovenian Economic Mirror, No 6/2021 Figure 10: Slovenia’s export market share on the EU market In the first quarter of this year, Slovenia's export market share on the EU market strengthened again (by 1.8% year-on-year). However, the growth more than halved compared to the last quarter 2020, mainly due to deteriorating trends in medicinal and pharmaceutical products (year-on-year decline in EU imports and an even sharper decline in Slovenian exports and related decline in market share), which have otherwise experienced strong growth since the beginning of the COVID-19 epidemic. Demand for road vehicles, which was hit hard by the crisis, is gradually recovering, but Slovenian exports are not quite keeping pace with the faster growth in foreign demand (decline in the market share). The unfavourable impact of these two main groups on the growth of Slovenian market share was almost entirely cushioned by the further significant strengthening in the electrical machinery and equipment group, where foreign demand is also growing significantly. Slovenian exporters also increased their market shares in the iron and steel, metal products and metal ores groups, where nominal imports also increased strongly (partly due to rising metal prices on global markets). Geographical decomposition of the export market share in the EU market shows that the increase was mainly due to the increased market share in Slovenia’s largest trading partner – Germany; among other main export markets, Slovenia's market share also increased in Italy and France, while it decreased in Austria and Croatia. -6 -4 -2 0 2 4 6 8 10 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 2015 2016 2017 2018 2019 2020 2021 Impact of production specialisation Export performance on production markets Total market share on the EU market Source: SURS, Eurostat; calculations by IMAD. Note: Export performance represents the overall contribution of changes in the market shares of impact of the export structure, i.e. whether EU imports of product groups of above-average importance to Slovenia were more or less favorable than overall imports of EU goods on average. Co nt rib ut io n to th e ye ar -o n- ye ar c ha ng e, in p .p . Figure 9: Trade in goods – real Trade in goods fell again in May, but remained higher than last year. Real exports and imports of goods from and into EU Member States have reached levels comparable to those before the epidemic, with significant monthly fluctuations mainly due to changes in containment measures in Slovenia and its trading partners. The growth in exports of goods was interrupted in April and May, which we believe is related to lower vehicle exports and partly to a slowdown in industrial growth in Slovenia’s largest trading partners (Germany, Italy, France). This led to a halt in the growth of trade in intermediate goods. The less favourable development of imports is also related to a somewhat lower level of manufacturing activity in Slovenia. The growth of trade in the first five months of this year remains high year-on- year and is partly due to the very weak activity in April and May last year (the base effect). The outlook remains favourable and is linked to the expected recovery in activity among Slovenia's main trading partners. In June, export expectations continued to improve, with firms more optimistic about future foreign demand than before the beginning of the epidemic. 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 Current Economic Trends14 Slovenian Economic Mirror, No 6/2021 Figure 12: Production volume in manufacturing After several months of growth, manufacturing production fell slightly in May. This was mainly due to the current decline in production in high-technology industries, although production in medium-technology industries also declined slightly. On the other hand, production in low-technology industries increased for the sixth consecutive month. Year-on-year, manufacturing production again recorded relatively high growth, although the increase was much smaller compared to the same period in 2019. A high year-on-year growth was recorded in medium- and low-technology industries, and although a decline was recorded in high-technology industries, the manufacture of computers, electronic and optical products still performed well year-on-year. Most major sectors saw a high year-on-year growth, including the automotive industry, although it still fell far short of production volumes in the same period of 2019. 80 100 120 140 160 180 200 220 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 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. Figure 11: Trade in services – nominal After noticeable growth at the beginning of the year, the recovery in trade in services came to a temporary halt in April. This was mainly due to the more restrictive measures taken to limit the spread of the epidemic, since lockdown was introduced in several countries in the weeks around Easter, which, with border crossing restrictions in place, mainly affected tourism. Trade in other business services was also lower than in previous months, while trade in transportation services increased. On a year-on-year basis, trade in services was noticeably higher in April, reflecting the very low level of activity last year, but remained well below pre-epidemic levels. In the first four months, trade was about one-fifth lower than in the same period before the epidemic, mainly due to about four-fifths lower volume of trade in tourism3. Other important groups of service activities are already significantly exceeding the 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 In the first four months of 2019, travel services accounted for 28.5% of total services exports, while their share in services imports was 15.5%. In the same period of 2021, travel services accounted for only 6.9% of total services exports, while their share in services imports was 2.7%. Figure 13: Activity in construction Construction activity slowed somewhat in April. The value of construction output fell by 3.4% but was 6.5% higher than a year earlier. Compared to the previous month, construction activity fell in all segments and strengthened only in non-residential construction, where it had fallen sharply in previous months. Activity in this construction sector is also significantly lower this year than last year's average. Year-on-year, the outlook is best for residential construction (nearly 30% higher activity). Activity in civil-engineering and specialised construction is also higher than last year. Data on the number of contracts suggest that activity in non-residential construction will remain relatively low, while other segments, particularly civil-engineering and specialised construction activities, are likely to perform better. 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 Trends 15Slovenian Economic Mirror, No 6/2021 Figure 15: Turnover in market services In April, turnover declined in most market services. Compared to the previous month, real turnover fell by 2.4% but was still higher than a year earlier (by 27.2%), mainly due to the low base. With severe restrictions on business and movement between regions, the decline in revenue in the accommodation and food service activities and tourism-related activities (travel agencies) has deepened. Turnover again declined in information and communications activities, although computer services increased sales in foreign markets. Turnover in transportation also fell in most activities. It increased slightly only in professional and technical activities. In April, the year-on-year turnover growth was positive in all market services due to last year's low base.0 20 40 60 80 100 120 140 160 180 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 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 14: Turnover in trade Turnover in trade declined in April and strengthened in May according to preliminary data. After high growth in March, sales declined in April, due in part to the partial closure of certain stores and services at the beginning of the month and the limited movement between regions in the first three weeks of the month. Turnover fell in all three main sectors, most markedly in the retail sector, where non-food sales declined particularly sharply. According to preliminary data, turnover in retail trade picked up again in May. 80 100 120 140 160 180 200 220 240 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 re al in de x 20 10 =1 00 Source: SURS; calculations by IMAD. Total Sale of motor vehicles Wholesale trade Retail trade . Table 2: Selected monthly indicators of economic activity in Slovenia In % 2020 V 21/IV 21 V 21/V 20 I-V 21/I-V 20 Merchandise exports, real1 -0.7 -4.9 28.0 17.3 - to the EU -7.5 -2.3 31.6 17.7 Merchandise imports, real1 -2.4 -1.4 39.5 18.8 - from the EU -8.2 -2.7 32.4 18.4 Industrial production, real -5.2 -0.4 22.1 12.7 - manufacturing -5.0 -0.5 24.2 14.0 In % 2020 IV 21/III 21 IV 21/IV 20 I-IV 21/I-IV 20 Services exports, nominal2 -19.6 -4.53 29.24 -3.24 Services imports, nominal2 -15.2 0.83 25.54 -5.54 Construction -value of construction put in place, real -0.7 -3.43 6.5 -1.0 Distributive trades - real turnover -7.2 -2.03 36.84 12.14 Market services (without trade) - real turnover -11.0 -2.43 27.24 3.04 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 Trends16 Slovenian Economic Mirror, No 6/2021 Figure 16: Selected indicators of household consumption After accelerating in March, household consumption declined slightly in April, and increased again in May. With the lockdown at the beginning of the month, household consumption fell in April compared to March, especially for services and durable goods and certain semi-durable goods. In May, however, with the easing of restrictions on activity, consumption picked up again. Also due to the low base, consumption was significantly higher year-on-year, but remained well below the level of the same period of 2019 in services, which were still severely restricted despite the easing of measures (arts and entertainment, accommodation, travel agencies, gambling and betting). We estimate that due to increased consumption4, the household saving rate in the second quarter will be lower than in the first quarter, when it fell compared to the last quarter of last year, but was still very high at 27.2%. 8 11 14 17 20 23 26 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 4- qu ar te r m ov in g av er ag es , i n % Se as on al ly a dj us te d in de x 20 10 =1 00 Source: SURS; calculations by IMAD. Note: The Q2 2021 figure is the average value for April and May. Household consumption Real turnover in the sale of non-food products Real turnover in the sale of food products Sale of passenger cars to natural persons Household saving rate (right axis) Figure 17: Real estate, Q1 2021 Average residential real estate prices increased again in early 2021, while the number of transactions declined in the face of limited supply and restrictions on business activity due to the epidemic. After growing by 4.6% in 2020 as a whole, prices rose by 7.3% year-on- year in the first quarter of 2021. New dwelling prices increased the most (by 13.1%), accounting for less than 5% of all transactions, despite an increase in the number of sales compared to the first quarter of last year. Prices of existing dwellings rose by 7% though the number of sales was the lowest in six years, with the exception of the second quarter of last year. 80 85 90 95 100 105 110 115 120 25 50 75 100 125 150 175 200 225 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 18: Economic sentiment Economic sentiment improved in June, mainly due to improvements in retail trade and services. The latter is a consequence of the gradual lifting of containment measures in May and June and, in particular, the opening of hotels and restaurants. On a monthly basis, confidence in manufacturing and construction deteriorated slightly, but remains high compared to a year ago. Consumer confidence remains low, although it has improved in recent months. However, the proportion of those who believe that prices will rise in the future has increased significantly over the last three months. -60 -50 -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 Se as on al ly a dj us te d in di ca to r v al ue , 3- m on th m ov in g av er ag e Source: SURS; calculations by IMAD. Economic sentiment Manufacturing Retail trade Service activities Construction Consumers 4 According to data on the fiscal verification of invoices, the year-on-year growth in turnover continued in June. Current Economic Trends 17Slovenian Economic Mirror, No 6/2021 Labour market Figure 19: Number of persons employed and number of registered unemployed Figure 20: Average gross wage per employee The number of registered unemployed continued to fall in June. The number of unemployed continued to fall significantly in June. In addition to seasonal influences that were not significantly different from those in the pre-epidemic period, the decline can also be attributed to the gradual relaxation of containment measures and the economic recovery. At the end of June, 71,094 people were unemployed, 5.4% fewer than at the end of May and 20.5% fewer than a year earlier. However, compared to the end of June 2019, the number was only 0.5 % higher. According to the Statistical Register of Employment (SRE)5, the number of employed people was 1% higher in April than in the same month last year, mainly due to the base effect (a sharp fall in April 2020 due to the outbreak of the epidemic). The year-on-year decline in employment continued to be the strongest in accommodation and food service activities and administrative and support service activities, i.e. the sectors most severely affected by the containment measures, while the largest increase was recorded in human health and social work activities. According to survey data6, the number of employed persons in the first quarter fell year-on-year (by 5.5%), largely due to the change in methodology.7 The biggest drop was still among students (-30.4%), while the number of self-employed was slightly higher than a year ago (3.7%). After a strong year-on-year increase in average wages in recent months, growth remained moderate in April (3%). In the private sector, it was lower (2%), partly due to the high growth in the same month of the previous year (base effect) caused by the introduction of crisis bonuses and the wage calculation methodology. In the public sector, on the other hand, growth remained relatively high (5.6%) despite the already high base last year (introduction of bonuses for hazardous working conditions and additional workload, as well as a bonus for work in crisis conditions in accordance with the collective agreement), due in part to the performance bonus introduced in the middle of last year. 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) -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 Table 3: Indicators of labour market trends Change, in % 2020 IV 21/III 21 IV 21/IV 20 I-IV 21/I-IV 20 Persons in formal employment2 -0.6 0.31 0.9 -0.6 Average nominal gross wage 5.8 0.91 3.0 8.8 private sector 4.4 0.71 2.0 5.7 public sector 7.8 0.91 5.6 13.7 of which general government 9.9 1.01 6.2 16.3 of which public corporations 1.9 -1.01 3.1 5.6 2020 IV 20 III 21 IV 21 Rate of registered unemployment (in %), seasonally adjusted 8.7 9.1 8.4 8.2 Change, in % 2020 VI 21/V 21 VI 21/VI 20 I-VI 21/I-VI 20 Registered unemployed 14.6 -5.4 -20.5 -3.2 Sources: ESS, SURS; calculations by IMAD. Notes: 1 Seasonally adjusted. 2 Persons in paid employment, self-employed persons and farmers (SRDAP). 5 Slovenian Statistical Register of Employment. 6 Active population according to the Active and Inactive Population survey. 7 In 2021, the definition of employed persons changed – persons whose duration of the layoff was longer than three months or was expected to be longer than three months are now considered unemployed or inactive. Current Economic Trends18 Slovenian Economic Mirror, No 6/2021 Prices Table 4: Consumer price growth, in % XII 20/XII 19 VI 20-V 21/VI 19-V 20 VI 21/V 21 VI 21/VI 20 I-VI 21/I-VI 20 Total -1.1 0.1 0.6 1.4 0.7 Food 1.1 1.0 0.1 -1.0 -0.9 Fuels and energy -9.9 -2.3 0.5 9.5 6.2 Services 0.2 0.4 1.4 -0.2 -0.3 Other1 -0.5 0.1 0.1 1.5 0.7 Core inflation - excluding food and energy -0.1 0.3 0.7 0.8 0.2 Core inflation - trimmed mean2 -0.4 0.4 0.3 1.3 0.5 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. Figure 21: Consumer prices Figure 22: Slovenian industrial producer prices Consumer price growth slowed slightly in June to 1.4%. The contribution from energy prices, which, with a high year-on-year increase in the prices of petroleum products (by almost a quarter), contribute the most to current inflation (1 p.p.), decreased significantly in June. This is due to the increase in electricity prices last June (base effect), when the measure of temporary exemption from the payment of contributions for households, introduced during the first wave of the epidemic, expired. The year-on-year increase in prices for semi-durable goods remained broadly unchanged in June (1.7%), while the growth in durable consumer goods prices almost halved (0.9% year-on-year), comparing to previous month. The prices of food and services remain lower year- on-year, but are gradually approaching last year's levels. Year-on-year growth in Slovenian industrial producer prices continued to strengthen in May, reaching 3.5%, the highest level since 2011. Price growth in the domestic market continued to increase (4.6%), as did price growth in foreign markets which was, however, only half as strong as in the domestic market. The difference in growth is largely due to price trends over the past year. However, year-on-year price growth in the five months of this year was comparable in the domestic and foreign markets (about 3%). Higher commodity prices, up 5% in May from a year earlier, were the biggest contributor to growth. Prices in the manufacture of metals were 15% higher year-on-year. Growth of energy and capital goods prices has also been strengthening. The combined year-on-year increase in consumer goods prices in the domestic and foreign markets remains modest (0.2%). On a year-on-year basis, only domestic prices for durable goods increased (2.1%) -2 -1 0 1 2 3 4 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 -6 -4 -2 0 2 4 6 8 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 in d om es tic in du st ria l p ro du ce r p ric es , i n % Source: SURS. Domestic market Foreign market Current Economic Trends 19Slovenian Economic Mirror, No 6/2021 Financial markets Table 5: Financial market indicators Domestic bank loans to non-banking sector and household savings Nominal amounts, EUR m Nominal loan growth, % 31. V 20 31. XII 20 31. V 21 31. V 21/30. IV 21 31. V 21/31. V 20 Loans total 23,273.4 22,860.9 23,080.1 0.5 -0.8 Enterprises and NFI 10,762.5 10,307.0 10,471.2 0.4 -2.7 Government 1,620.7 1,556.8 1,490.7 0.4 -8.0 Households 10,890.2 10,997.0 11,118.2 0.7 2.1 Consumer credits 2,823.0 2,706.5 2,656.7 0.0 -5.9 Lending for house purchase 6,665.3 6,862.1 7,037.1 0.9 5.6 Other lending 1,401.8 1,428.4 1,424.4 0.6 1.6 Bank deposits total 21,565.2 22,915.7 23,784.8 0.6 10.3 Overnight deposits 17,395.9 18,975.7 20,083.7 1.0 15.5 Term deposits 4,169.3 3,939.9 3,701.1 -1.5 -11.2 Government bank deposits, total 664.0 595.3 572.3 1.6 -13.8 Deposits of non-financial corporations, total 7,402.5 8,053.5 8,356.1 0.4 12.9 Sources: Monthly Bulletin of the BoS; calculations by IMAD. Note: NFI – Non-monetary Financial Institutions. Figure 23: Loans to domestic non-banking sectors The year-on-year decline in the volume of loans to domestic non-banking sectors slowed in May. Corporate and NFI loans continued to fall year-on-year, with the drop of 2.7% the weakest this year. After a decline at the beginning of the year, the volume of loans to households gradually increased year-on-year. Due to the favourable interest rate level, the growth of housing loans picked up, the volume of which was already 5.6% higher in May year-on-year. The decline in consumer loans, on the other hand, has slowed down, and new lending remains modest. We estimate that the increased household spending is covered mainly by current income, which was higher year-on-year in the first quarter due to government measures to mitigate the impact of the epidemic, and to a lesser extent by savings accumulated during the epidemic. With the introduction of fees for large deposits, some savings were transferred to other alternative investments (e.g. mutual funds). Growth in household bank deposits has thus slowed somewhat in recent months, but is still relatively high (10.3%, with total household deposits of EUR 23.8 billion in May). The share of non-performing claims8 fell below 1.5% in April. -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. Figure 24: Bond, Q2 2021 The situation on euro area bond markets remained favourable in the second quarter. The ECB had a significant impact on this, as it significantly increased its purchases of securities under the PEPP programme at the end of the first quarter in light of the rise in required government bond yields in the euro area. The yield to maturity of the Slovenian bond was thus 0.14%, while the spread to the German bond declined slightly, to 36 basis points. -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. Slovenia Portugal Spain Italy Ireland Germany Austria Current Economic Trends20 Slovenian Economic Mirror, No 6/2021 Balance of payments Table 6: Balance of payments I-IV 2021, in EUR million Inflows Outflows Balance Balance, I-IV 2020 Current account 14,230.8 13,081.1 1,149.6 1,031.1 Goods 11,082.6 10,338.6 744.0 751.9 Services 2,160.7 1,499.2 661.5 646.4 Primary income 565.2 718.9 -153.7 -161.4 Secondary income 422.3 524.5 -102.2 -205.8 Capital account 1,130.4 962.2 168.1 -57.8 Financial account 2,612.2 3,991.9 1,379.7 1,084.5 Direct investment 939.3 460.5 -478.7 -457.9 Portfolio investment -308.5 463.1 771.6 -3,515.5 Other investment 1,991.8 3,038.8 1,047.0 4,965.0 Net errors and omissions 61.9 0.0 61.9 111.2 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. Figure 25: Current account In April, the current account surplus was again higher year-on-year. This is mainly due to the surplus of secondary income (a deficit was recorded last April), mainly due to more government funds received (social benefits from the EU budget). Due to the easing of containment measures, trade in services recovered after a year. The surplus in trade in services was again higher year-on-year, mainly due to a larger surplus in transportation and travel services. The primary income deficit was lower in April than a year earlier, mainly due to lower net payments of interest on external debt. The surplus in trade in goods remained at a similar level as in April last year (EUR 168 million). The high year-on-year nominal growth in trade in goods in April was also the result of higher energy prices and the prices of other primary commodities, which have the largest impact on the import price growth. In April, export prices of goods rose by 1.8% year-on-year, while import prices rose by as much as 7% and the terms of merchandise trade deteriorated by 4.8%. The 12-month current account surplus remains high (EUR 3.4 billion; 7% of GDP). -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 Current Economic Trends 21Slovenian Economic Mirror, No 6/2021 Public finance Figure 26: Consolidated general government budgetary accounts After a surplus in April, the consolidated balance of public finances returned to a deficit in May, but smaller than the average for the first three months. This development can be attributed to the evolution of economic activity and renewed closures in early April. Expenditure on measures to alleviate the effects of the epidemic was also significantly higher than in April9. The overall deficit of the consolidated balance of public finances amounted to EUR 1.27 billion in the first five months, slightly lower than in the same period of the previous year (EUR 1.39 billion). Turnover in the first five months was a fifth higher than a year ago, with tax revenues rising in particular as containment measures gradually eased. Expenditure in the consolidated accounts increased by 15.7%, with the largest increase in expenditure on wages and current transfers, mainly due to payments for the implementation of measures to contain the second wave of the epidemic. -6,000 -5,000 -4,000 -3,000 -2,000 -1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 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 m ul at iv e, in E U R m 12 -m on th c um m ul at iv e, in E U R m General government balance (right axis) Revenue Expenditure Source: MF, Bulletin of Government Finance; calculations by IMAD. 9 The consolidated general government budgetary accounts on a cash basis. Therefore, the April partial closure is included in the May data (e.g. VAT is paid for April sales in May). Table 7: Consolidated general government revenue and expenditure on a cash basis Category I-V 2020 I-V 2021 Category I-V 2020 I-V 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 7,124.6 -9.2 8,576.7 20.4 EXPENDITURE TOTAL 8,509.9 11.4 9,843.5 15.7 Tax revenues1 6,271.8 -11.0 7,532.0 20.1 Salaries* wages and other personnel expenditures2 1,977.3 10.6 2,461.4 24.5 Personal income tax 1,034.9 -5.5 1,236.3 19.5 Expenditure on goods and services 1,153.1 10.4 1,237.6 7.3 Corporate income tax 242.9 -49.4 532.3 119.1 Interest payments 489.9 -6.3 398.9 -18.6 Taxes on immovable property 39.1 -8.0 54.7 40.1 Reserves 71.2 6.2 99.1 39.3 Value added tax 1,267.8 -18.3 1,537.5 21.3 Transfers to individuals and households 3,323.5 10.9 3,959.8 19.1 Excise duties 494.5 -18.7 534.7 8.1 Other current transfers 818.0 40.1 929.4 13.6 Social security contributions 2,737.3 -4.5 3,245.7 18.6 Investment expenditure 365.0 17.3 371.9 1.9 Non-tax revenues 490.8 25.1 593.3 20.9 Payments to the EU budget 256.0 -2.8 285.1 11.4 Receipts from the EU budget 309.0 -11.2 373.7 21.0 GENERAL GOVERNMENT BALANCE -1,385.4 -1,266.7 Other 53.1 -3.5 77.7 46.4 PRIMARY BALANCE -905.4 -842.4 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. Current Economic Trends22 Slovenian Economic Mirror, No 6/2021 Figure 27: Receipts from the EU budget Slovenia’s net budgetary position against the EU budget was positive in the first five months (at EUR 85.7 million). During this period, Slovenia received EUR 370.8 million from the EU budget (22.9% of the budgeted revenues for the current year) and paid EUR 285.1 million into it (50.5% of its annual obligations towards the EU budget) of which just under a quarter came from gross national income10. Almost half of the receipts (45.4%) came from the Common Agricultural and Fisheries policy11, 39.9% from the structural funds12 and the smallest part from the Cohesion Fund (13.3%). According to SVRK data13, from the beginning of the financial period in 2014 until the end of May 2021, project funding decisions taken accounted for 113% of the available funds, operations confirmed accounted for 92% and disbursements to beneficiaries for 57% of the available funds14. Under the REACT-EU programme15, the project funding decisions taken account for 30% of available funding and projects that are in the process of being approved account for 30%, while no payments have yet been. 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 m Expected reimbursements in the revised budget 2020 Total receipts (January–May 2020) Expected reimbursements in the revised budget 2021 Total receipts (January–May 2021) Source: MF. 10 Payments based on gross national income represent the largest share (72.7% of all payments) of Slovenia’s commitments to the EU budget in 2021. 11 Refunds from direct subsidy payments in agriculture amounted to 78.7% and refunds from the Rural Development Programme to 21.2%. 12 61.5% from the European Regional Development Fund (ERDF) and 38.5% the European Social Fund (ESF). 13 Government Office for Development and European Cohesion Policy, Report on the Implementation of the EU Cohesion Policy 2014–2020. 14 Due to the successful absorption of European funds, 15% of the additional appropriations (EUR 460 million) from the state budget have been allocated to so-called contingency projects, which are more likely to be implemented than projects that were appropriated but have implementation problems. In the Multiannual Financial Framework for the period 2014–2020, Slovenia was allocated EUR 3,068 million from the European Cohesion Policy and EUR 3,528 million is available with additional appropriations. 15 Through the REACT-EU program, Slovenia was allocated EUR 333 million, of which EUR 9 million was paid to the most vulnerable families, and EUR 324 million was allocated to the multi-annual financial period 2014–2020. st at is ti ca l a pp en di x Statistical Appendix 25Slovenian Economic Mirror, No 6/2021 Main indicators 2015 2016 2017 2018 2019 2020 2021 2022 2023 Spring Forecast 2021 GDP (real growth rates, in %) 2.2 3.2 4.8 4.4 3.2 -5.5 4.6 4.4 3.3 GDP in EUR million (current prices) 38,853 40,443 43,009 45,863 48,393 46,297 48,452 51,345 54,026 GDP per capita in EUR (current prices) 18,830 19,589 20,819 22,135 23,165 22,014 22,973 24,250 25,427 GDP per capita (PPS)1 22,700 23,600 25,100 26,400 27,700 GDP per capita (PPS EU27=100)1 83 84 86 87 89 Rate of registered unemployment 12.3 11.2 9.5 8.2 7.7 8.7 8.5 8.1 7.6 Standardised rate of unemployment (ILO) 9.0 8.0 6.6 5.1 4.5 5.0 5.0 4.8 4.5 Labour productivity (GDP per employee) 0.9 1.3 1.8 1.2 0.7 -4.6 3.8 2.8 1.7 Inflation2, year average -0.5 -0.1 1.4 1.7 1.6 -0.1 0.8 1.2 1.7 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 6.3 4.1 -8.7 8.6 7.3 5.5 Exports of goods 5.3 5.7 11.1 5.9 4.3 -5.6 8.7 5.7 4.8 Exports of services 2.4 8.0 11.2 7.5 3.3 -20.2 8.0 14.5 8.4 Imports of goods and services (real growth rates, in %) 4.3 6.3 10.7 7.2 4.4 -10.2 8.8 8.1 6.1 Imports of goods 5.1 6.6 10.8 7.7 4.7 -8.9 9.1 7.4 5.8 Imports of services 0.1 4.7 10.6 4.8 3.3 -17.5 7.0 12.1 7.5 Current account balance3, in EUR million 1,483 1,932 2,674 2,680 2,723 3,366 3,220 3,128 3,107 As a per cent share relative to GDP 3.8 4.8 6.2 5.8 5.6 7.3 6.6 6.1 5.8 Gross external debt, in EUR million 46,171 44,325 43,231 42,148 43,796 48,252 49,888* As a per cent share relative to GDP 118.8 109.6 100.5 91.9 90.5 104.2 Ratio of USD to EUR 1.110 1.107 1.129 1.181 1.120 1.141 1.208 1.208 1.208 DOMESTIC DEMAND Private consumption (real growth rates, in %) 2.0 4.4 1.9 3.6 4.8 -9.7 4.0 4.7 2.9 As a % of GDP 54.0 54.0 52.6 52.1 52.4 49.2 49.2 49.1 48.9 Government consumption (real growth rates, in %) 2.3 2.4 0.4 3.0 1.7 1.8 2.4 1.7 1.4 As a % of GDP 18.8 19.0 18.4 18.2 18.4 20.4 19.9 19.4 19.1 Gross fixed capital formation (real growth rates, in %) -1.2 -3.6 10.2 9.6 5.8 -4.1 9.0 8.0 6.5 As a % of GDP 18.7 17.4 18.3 19.2 19.6 19.9 21.1 21.9 22.7 Source: SURS, Bank of Slovenia, Eurostat, IMAD recalculations and forecasts (Spring forecast, March 2021). Notes: 1 Measured in purchasing power standard; Eurostat 15.12.2020 2 Consumer price index. 3 Balance of payments statistics. *end April 2021. Statistical Appendix26 Slovenian Economic Mirror, No 6/2021 Production 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 INDUSTRIAL PRODUCTION, y-o-y growth rates, % Industry B+C+D 5.1 3.1 -5.2 2.5 4.4 4.1 1.6 -1.6 -17.5 -2.9 1.4 3.9 3.8 -1.8 8.2 -1.7 5.0 2.3 -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 -2.1 -1.9 15.3 36.3 - - B Mining and quarrying -0.9 -3.4 -2.1 8.5 -1.6 -10.9 -7.6 -13.7 -9.2 8.5 7.6 0.1 -1.0 -8.6 -7.8 -15.1 -9.5 -10.2 -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 -19.7 - - C Manufacturing 5.7 3.5 -5.0 2.5 4.5 4.9 2.3 -0.3 -17.9 -2.7 1.6 4.4 3.8 -2.3 9.0 -1.2 5.9 3.3 -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 -1.5 -2.1 16.6 40.2 - - D Electricity, gas & steam supply1 -0.3 -0.8 -9.1 0.2 3.6 -2.0 -4.7 -13.9 -13.1 -6.8 -2.1 -2.4 4.3 5.5 0.9 -3.8 -3.1 -7.3 -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 4.6 - - CONSTRUCTION2, real indices of construction put in place, y-o-y growth rates, % Construction, total 20.0 3.4 -0.7 20.9 8.4 -5.9 -2.2 1.9 -13.4 2.7 6.1 -3.7 10.5 5.9 -3.8 -5.1 -8.6 -3.4 -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 -4.6 -9.4 2.1 6.5 - - Buildings 17.2 -0.1 -0.6 31.7 -17.5 0.1 -7.2 -26.3 -0.9 2.8 23.9 35.8 -15.4 -17.5 -1.6 3.7 -1.8 -14.6 -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 10.5 53.1 50.5 44.8 - - Civil engineering 17.6 4.4 2.7 23.3 8.8 -1.6 -2.6 5.8 -9.1 4.8 9.6 4.2 13.9 3.3 8.6 -11.1 -1.7 2.8 -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 1.3 - - MARKET SERVICES, year-on-year real growth rates, % Services, total 7.4 2.2 -11.0 4.4 2.6 3.2 -0.9 -5.4 -22.5 -6.7 -9.2 -3.4 1.2 2.7 6.7 1.2 1.8 -1.1 -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 13.7 28.4 - - Transportation and storage 7.0 3.2 -8.0 5.8 5.9 4.3 -2.8 -5.3 -21.2 -6.7 1.7 5.7 3.6 8.4 11.9 2.2 -0.7 -2.0 -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 25.4 39.9 - - Information and communication activities 6.0 1.0 -0.2 1.8 2.8 -0.8 0.5 3.3 -7.1 2.4 0.6 2.1 4.3 0.1 -1.4 0.1 -1.1 -3.1 -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 12.1 - - Professional, scientific and technical activities 13.0 5.8 -3.0 8.6 1.4 11.3 3.2 -0.2 -11.4 -0.2 -0.5 8.4 -2.4 1.5 17.4 5.9 10.6 4.7 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 1.6 23.0 36.4 - - Administrative and support service activities 9.1 -5.9 -24.1 -3.9 -3.8 -6.9 -8.8 -17.1 -33.7 -23.2 -21.7 -7.8 -3.0 -5.7 -5.4 -9.0 -6.3 -9.2 -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 9.5 18.0 - - DISTRIBUTIVE TRADES, y-o-y growth rates, % Total real turnover* 8.1 4.3 -7.2 10.1 5.2 4.5 -1.5 -4.1 -13.5 -3.0 -7.9 4.1 4.2 0.0 7.5 0.6 5.2 -1.1 -2.9 -0.4 0.0 2.3 -13.5 -27.4 -12.8 0.0 -1.6 -5.3 -2.4 -7.1 -9.4 -7.1 -11.8 -3.3 28.3 34.8 - - Real turnover in retail trade 4.6 3.4 -8.9 9.1 6.7 4.1 -4.7 -5.3 -11.9 -6.3 -12.0 3.5 4.7 1.4 7.5 2.9 1.8 -5.0 -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 -1.2 27.9 23.0 - - Real turnover in the sale and maintenance of motor vehicles 11.6 3.8 -13.9 9.0 2.7 0.0 3.6 -13.7 -25.9 3.8 -16.7 8.9 5.4 -4.0 0.1 -10.4 10.7 3.9 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 -23.3 -19.2 -10.0 74.9 113.7 - - Nominal turnover in wholesale trade & commission trade 9.3 5.2 -3.4 11.2 5.1 6.5 -0.7 0.6 -9.6 -2.8 -1.7 2.9 3.3 0.7 10.6 2.5 6.1 0.1 -3.6 1.4 0.3 4.2 -2.2 -17.7 -10.4 -0.5 -3.7 -5.2 0.2 -4.5 -1.4 1.0 -7.2 -2.1 16.7 27.0 - - TOURISM, y-o-y growth rates, % Total, overnight stays 10.5 0.5 -41.7 3.1 4.4 -0.1 -5.6 -24.0 -82.9 -13.5 -72.8 -86.3 -4.4 8.5 0.9 1.2 -4.0 0.0 -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 - Domestic tourists, overnight stays -0.1 -2.5 32.8 4.4 -3.8 -5.1 -4.1 -23.9 -56.3 172.1 -42.8 -82.4 4.0 -1.6 -7.6 -2.7 -5.2 2.4 -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 6626.2 762.8 - Foreign tourists, overnight stays 15.4 1.7 -70.5 2.2 7.5 1.4 -6.3 -24.1 -92.1 -65.7 -88.4 -89.0 -7.2 12.5 3.6 2.3 -3.7 -1.0 -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 -61.6 262.1 610.8 - Accommodation and food service activities 7.1 7.6 -37.1 10.1 7.5 6.8 6.7 -15.4 -59.4 -12.9 -62.5 -60.1 4.4 10.2 6.2 7.2 6.8 9.7 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 -21.8 134.9 - - AGRICULTURE Purchase of agricultural products, in EUR m 524.8 553.7 537.7 118.4 127.0 145.6 162.6 120.2 123.6 145.6 148.3 119.9 42.8 41.3 52.3 42.1 51.3 56.9 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 - - BUSSINES TENDENCY (indicator values**) Sentiment indicator 11.0 6.0 -11.8 9.1 6.4 5.2 3.2 1.9 -30.5 -9.0 -9.4 -3.5 7.9 4.7 6.1 5.1 4.4 3.9 2.5 3.3 4.3 5.1 -3.7 -37.4 -31.0 -23.1 -16.8 -6.1 -4.1 -6.2 -12.8 -9.3 -6.8 -3.0 -0.7 -0.4 5.8 8.0 Confidence indicator in manufacturing 8 0 -9 4 1 -1 -2 -3 -28 -4 0 7 4 -3 0 -1 -2 -2 -3 -2 -1 1 -8 -38 -26 -20 -11 -1 1 1 -1 1 5 5 10 9 12 11 in construction 22 11 -5 16 12 9 7 7 -23 -5 0 9 13 12 9 8 9 6 8 8 9 7 5 -28 -28 -13 -8 -5 -2 1 -4 2 4 9 14 16 20 18 in services 24 21 -10 24 21 20 20 15 -34 -9 -10 -4 20 20 21 19 20 20 20 19 19 18 8 -38 -37 -28 -23 -5 0 -3 -16 -12 -7 -2 -2 -1 9 16 in retail trade 14 19 1 22 20 20 13 18 -18 11 -8 -16 28 18 18 24 18 17 4 18 14 33 8 -29 -21 -4 9 13 12 -1 -13 -11 -26 -14 -9 7 19 28 consumer confidence indicator -7 -10 -26 -8 -9 -9 -14 -14 -35 -24 -30 -24 -8 -8 -7 -10 -11 -13 -14 -14 -11 -13 -17 -39 -35 -30 -27 -22 -24 -29 -33 -29 -29 -21 -23 -25 -18 -17 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 27Slovenian Economic Mirror, No 6/2021 Production 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 INDUSTRIAL PRODUCTION, y-o-y growth rates, % Industry B+C+D 5.1 3.1 -5.2 2.5 4.4 4.1 1.6 -1.6 -17.5 -2.9 1.4 3.9 3.8 -1.8 8.2 -1.7 5.0 2.3 -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 -2.1 -1.9 15.3 36.3 - - B Mining and quarrying -0.9 -3.4 -2.1 8.5 -1.6 -10.9 -7.6 -13.7 -9.2 8.5 7.6 0.1 -1.0 -8.6 -7.8 -15.1 -9.5 -10.2 -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 -19.7 - - C Manufacturing 5.7 3.5 -5.0 2.5 4.5 4.9 2.3 -0.3 -17.9 -2.7 1.6 4.4 3.8 -2.3 9.0 -1.2 5.9 3.3 -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 -1.5 -2.1 16.6 40.2 - - D Electricity, gas & steam supply1 -0.3 -0.8 -9.1 0.2 3.6 -2.0 -4.7 -13.9 -13.1 -6.8 -2.1 -2.4 4.3 5.5 0.9 -3.8 -3.1 -7.3 -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 4.6 - - CONSTRUCTION2, real indices of construction put in place, y-o-y growth rates, % Construction, total 20.0 3.4 -0.7 20.9 8.4 -5.9 -2.2 1.9 -13.4 2.7 6.1 -3.7 10.5 5.9 -3.8 -5.1 -8.6 -3.4 -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 -4.6 -9.4 2.1 6.5 - - Buildings 17.2 -0.1 -0.6 31.7 -17.5 0.1 -7.2 -26.3 -0.9 2.8 23.9 35.8 -15.4 -17.5 -1.6 3.7 -1.8 -14.6 -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 10.5 53.1 50.5 44.8 - - Civil engineering 17.6 4.4 2.7 23.3 8.8 -1.6 -2.6 5.8 -9.1 4.8 9.6 4.2 13.9 3.3 8.6 -11.1 -1.7 2.8 -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 1.3 - - MARKET SERVICES, year-on-year real growth rates, % Services, total 7.4 2.2 -11.0 4.4 2.6 3.2 -0.9 -5.4 -22.5 -6.7 -9.2 -3.4 1.2 2.7 6.7 1.2 1.8 -1.1 -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 13.7 28.4 - - Transportation and storage 7.0 3.2 -8.0 5.8 5.9 4.3 -2.8 -5.3 -21.2 -6.7 1.7 5.7 3.6 8.4 11.9 2.2 -0.7 -2.0 -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 25.4 39.9 - - Information and communication activities 6.0 1.0 -0.2 1.8 2.8 -0.8 0.5 3.3 -7.1 2.4 0.6 2.1 4.3 0.1 -1.4 0.1 -1.1 -3.1 -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 12.1 - - Professional, scientific and technical activities 13.0 5.8 -3.0 8.6 1.4 11.3 3.2 -0.2 -11.4 -0.2 -0.5 8.4 -2.4 1.5 17.4 5.9 10.6 4.7 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 1.6 23.0 36.4 - - Administrative and support service activities 9.1 -5.9 -24.1 -3.9 -3.8 -6.9 -8.8 -17.1 -33.7 -23.2 -21.7 -7.8 -3.0 -5.7 -5.4 -9.0 -6.3 -9.2 -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 9.5 18.0 - - DISTRIBUTIVE TRADES, y-o-y growth rates, % Total real turnover* 8.1 4.3 -7.2 10.1 5.2 4.5 -1.5 -4.1 -13.5 -3.0 -7.9 4.1 4.2 0.0 7.5 0.6 5.2 -1.1 -2.9 -0.4 0.0 2.3 -13.5 -27.4 -12.8 0.0 -1.6 -5.3 -2.4 -7.1 -9.4 -7.1 -11.8 -3.3 28.3 34.8 - - Real turnover in retail trade 4.6 3.4 -8.9 9.1 6.7 4.1 -4.7 -5.3 -11.9 -6.3 -12.0 3.5 4.7 1.4 7.5 2.9 1.8 -5.0 -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 -1.2 27.9 23.0 - - Real turnover in the sale and maintenance of motor vehicles 11.6 3.8 -13.9 9.0 2.7 0.0 3.6 -13.7 -25.9 3.8 -16.7 8.9 5.4 -4.0 0.1 -10.4 10.7 3.9 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 -23.3 -19.2 -10.0 74.9 113.7 - - Nominal turnover in wholesale trade & commission trade 9.3 5.2 -3.4 11.2 5.1 6.5 -0.7 0.6 -9.6 -2.8 -1.7 2.9 3.3 0.7 10.6 2.5 6.1 0.1 -3.6 1.4 0.3 4.2 -2.2 -17.7 -10.4 -0.5 -3.7 -5.2 0.2 -4.5 -1.4 1.0 -7.2 -2.1 16.7 27.0 - - TOURISM, y-o-y growth rates, % Total, overnight stays 10.5 0.5 -41.7 3.1 4.4 -0.1 -5.6 -24.0 -82.9 -13.5 -72.8 -86.3 -4.4 8.5 0.9 1.2 -4.0 0.0 -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 - Domestic tourists, overnight stays -0.1 -2.5 32.8 4.4 -3.8 -5.1 -4.1 -23.9 -56.3 172.1 -42.8 -82.4 4.0 -1.6 -7.6 -2.7 -5.2 2.4 -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 6626.2 762.8 - Foreign tourists, overnight stays 15.4 1.7 -70.5 2.2 7.5 1.4 -6.3 -24.1 -92.1 -65.7 -88.4 -89.0 -7.2 12.5 3.6 2.3 -3.7 -1.0 -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 -61.6 262.1 610.8 - Accommodation and food service activities 7.1 7.6 -37.1 10.1 7.5 6.8 6.7 -15.4 -59.4 -12.9 -62.5 -60.1 4.4 10.2 6.2 7.2 6.8 9.7 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 -21.8 134.9 - - AGRICULTURE Purchase of agricultural products, in EUR m 524.8 553.7 537.7 118.4 127.0 145.6 162.6 120.2 123.6 145.6 148.3 119.9 42.8 41.3 52.3 42.1 51.3 56.9 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 - - BUSSINES TENDENCY (indicator values**) Sentiment indicator 11.0 6.0 -11.8 9.1 6.4 5.2 3.2 1.9 -30.5 -9.0 -9.4 -3.5 7.9 4.7 6.1 5.1 4.4 3.9 2.5 3.3 4.3 5.1 -3.7 -37.4 -31.0 -23.1 -16.8 -6.1 -4.1 -6.2 -12.8 -9.3 -6.8 -3.0 -0.7 -0.4 5.8 8.0 Confidence indicator in manufacturing 8 0 -9 4 1 -1 -2 -3 -28 -4 0 7 4 -3 0 -1 -2 -2 -3 -2 -1 1 -8 -38 -26 -20 -11 -1 1 1 -1 1 5 5 10 9 12 11 in construction 22 11 -5 16 12 9 7 7 -23 -5 0 9 13 12 9 8 9 6 8 8 9 7 5 -28 -28 -13 -8 -5 -2 1 -4 2 4 9 14 16 20 18 in services 24 21 -10 24 21 20 20 15 -34 -9 -10 -4 20 20 21 19 20 20 20 19 19 18 8 -38 -37 -28 -23 -5 0 -3 -16 -12 -7 -2 -2 -1 9 16 in retail trade 14 19 1 22 20 20 13 18 -18 11 -8 -16 28 18 18 24 18 17 4 18 14 33 8 -29 -21 -4 9 13 12 -1 -13 -11 -26 -14 -9 7 19 28 consumer confidence indicator -7 -10 -26 -8 -9 -9 -14 -14 -35 -24 -30 -24 -8 -8 -7 -10 -11 -13 -14 -14 -11 -13 -17 -39 -35 -30 -27 -22 -24 -29 -33 -29 -29 -21 -23 -25 -18 -17 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 Appendix28 Slovenian Economic Mirror, No 6/2021 Labour market 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 FORMAL LABOUR FORCE (A=B+E) 951.2 968.4 973.9 965.3 967.8 965.6 974.9 974.9 974.1 971.2 975.5 973.6 968.0 965.6 964.7 966.6 973.7 974.1 976.8 975.2 975.7 973.8 974.2 974.3 973.6 972.2 970.3 971.0 974.2 973.9 978.5 973.3 973.9 973.7 972.6 PERSONS IN FORMAL EMPLOYMENT (B=C+D)1 872.8 894.2 888.9 885.3 895.5 894.6 901.5 896.5 884.6 884.1 890.5 886.2 897.2 893.8 893.2 896.8 901.3 901.7 901.5 895.4 898.3 896.0 885.5 883.9 884.3 882.8 882.1 887.2 890.5 889.8 891.2 881.8 885.8 891.1 893.3 In agriculture, forestry, fishing 26.3 24.9 26.4 25.6 25.4 23.8 24.8 26.3 26.4 26.4 26.3 25.7 25.4 23.8 23.8 23.8 24.8 24.8 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 In industry, construction 280.9 291.7 288.5 287.5 292.7 292.7 294.0 291.2 288.0 286.0 288.9 288.4 293.2 292.9 292.4 292.9 293.8 293.7 294.4 290.5 291.2 291.9 289.1 288.0 286.9 286.3 285.3 286.3 287.4 288.4 290.9 286.1 288.3 290.8 291.8 - in manufacturing 202.6 207.9 202.8 207.4 208.5 207.6 208.4 206.2 202.6 200.1 202.5 202.8 208.5 207.6 207.4 207.7 208.3 208.1 208.8 206.2 206.3 205.9 203.8 202.6 201.3 200.1 199.7 200.4 201.1 202.3 204.1 201.7 202.7 203.9 204.8 - in construction 58.4 63.9 64.9 60.4 64.2 65.1 65.8 64.3 64.7 65.1 65.6 65.1 64.7 65.2 65.0 65.1 65.6 65.8 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 In services 565.7 577.6 574.0 572.2 577.5 578.0 582.8 579.0 570.2 571.7 575.3 572.1 578.7 577.1 577.0 580.0 582.7 583.2 582.4 578.6 580.8 577.7 570.1 569.5 570.9 570.1 570.4 574.5 576.7 575.1 574.1 570.1 571.9 574.5 575.7 - in public administration 49.0 49.0 49.3 48.7 48.9 49.0 49.2 49.0 49.2 49.4 49.6 49.3 49.0 49.0 49.0 49.1 49.2 49.2 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 - in education, health-services and social work 135.0 137.8 141.5 137.0 137.8 137.0 139.6 140.4 140.7 141.0 143.8 144.4 137.8 136.5 136.3 138.2 139.1 139.8 139.9 139.4 140.6 141.0 140.6 140.6 140.9 140.2 140.3 142.5 143.5 144.0 143.9 143.4 144.5 145.4 145.7 FORMALLY EMPLOYED (C)1 780.2 801.9 794.6 792.7 803.0 803.3 808.6 802.4 790.5 790.0 795.6 791.6 804.6 802.7 802.0 805.3 808.4 808.9 808.7 801.2 804.0 801.9 791.5 789.8 790.3 788.9 788.1 792.9 795.8 794.8 796.2 787.4 791.2 796.1 798.3 In enterprises and organisations 729.3 749.2 744.8 741.6 749.7 750.0 755.5 751.3 741.3 739.9 746.7 744.6 751.2 749.4 748.7 751.9 754.7 755.4 756.3 749.9 752.5 751.6 742.8 740.7 740.5 738.9 738.1 742.6 745.9 745.9 748.3 740.8 744.3 748.8 750.6 By those self-employed 50.9 52.7 49.8 51.1 53.2 53.4 53.2 51.1 49.2 50.1 48.9 46.9 53.4 53.4 53.3 53.5 53.7 53.5 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 SELF-EMPLOYED AND FARMERS (D) 92.6 92.3 94.3 92.6 92.6 91.2 92.9 94.1 94.0 94.1 94.9 94.7 92.6 91.0 91.2 91.4 92.9 92.9 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 REGISTERED UNEMPLOYMENT (E) 78.5 74.2 85.0 80.0 72.2 71.1 73.4 78.4 89.5 87.1 85.0 87.4 70.7 71.9 71.5 69.8 72.4 72.4 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 Female 39.9 37.5 42.6 39.6 36.8 36.6 36.8 38.3 45.0 44.1 43.0 44.1 36.1 37.1 37.1 35.7 36.9 36.8 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 By age: 15 to 29 15.1 14.1 17.2 15.5 13.1 12.6 15.0 15.3 18.3 17.1 18.0 17.7 12.6 12.8 12.6 12.4 15.1 14.8 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 Aged over 50 31.5 29.7 31.0 31.5 29.6 29.0 28.7 30.6 31.9 31.3 30.3 31.6 29.3 29.3 29.1 28.6 28.4 28.4 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 Primary education or less 24.3 23.4 26.4 25.8 22.8 22.1 23.0 25.2 27.8 26.6 26.1 27.5 22.3 22.3 22.1 22.1 22.4 22.5 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 For more than 1 year 40.6 38.1 38.0 39.2 38.3 37.9 37.2 37.3 37.5 38.1 38.9 41.5 38.0 38.0 37.8 37.9 37.6 37.2 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 Those receiving benefits 20.0 19.3 25.9 23.5 17.4 17.9 18.5 24.5 29.8 25.6 24.0 25.1 17.1 17.5 18.4 17.9 18.2 18.7 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 RATE OF REGISTERED UNEMPLOYMENT, E/A, in % 8.3 7.7 8.7 8.3 7.5 7.4 7.5 8.0 9.2 9.0 8.7 9.0 7.3 7.4 7.4 7.2 7.4 7.4 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 Male 7.5 6.9 8.0 7.7 6.7 6.5 6.8 7.5 8.4 8.1 7.9 8.2 6.5 6.6 6.5 6.5 6.7 6.7 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 Female 9.2 8.5 9.6 9.0 8.4 8.4 8.3 8.6 10.2 10.0 9.7 9.9 8.2 8.5 8.5 8.1 8.3 8.3 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 FLOWS OF FORMAL LABOUR FORCE -6.5 -0.3 1.0 -0.7 -1.9 -0.3 1.8 0.9 3.8 -1.9 1.2 -1.5 -1.3 1.1 -0.3 -1.7 2.6 0.0 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 New unemployed first-job seekers 11.4 0.8 0.8 0.6 0.4 0.6 1.6 0.6 0.5 0.6 1.5 0.5 0.4 0.4 0.3 1.0 3.6 0.8 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 Redundancies 65.1 5.4 7.4 6.5 4.1 4.8 6.2 7.5 9.5 6.0 6.4 6.0 3.8 5.8 3.9 4.8 5.9 5.3 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 Registered unemployed who found employment 61.5 4.7 5.4 6.2 4.8 3.9 3.9 5.5 4.8 6.5 4.6 6.4 3.8 3.3 2.9 5.4 4.6 3.9 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 Other outflows from unemployment (net) 21.6 1.8 1.8 1.7 1.7 1.8 2.1 1.7 1.3 2.0 2.2 1.8 1.6 1.8 1.6 2.0 2.3 2.1 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 FIXED TERM WORK PERMITS FOR FOREIGNERS 24.0 33.1 37.6 29.6 32.3 34.2 35.7 35.6 34.9 37.7 38.1 38.8 32.9 33.5 34.1 35.0 35.7 36.3 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 As % of labour force 2.5 3.4 3.9 3.1 3.3 3.5 3.7 3.6 3.6 3.9 3.9 4.0 3.4 3.5 3.5 3.6 3.7 3.7 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 Sources: SURS, PDII, ESS. Notes: 1 In January 2005, the SORS adopted new methodology of obtaining data on persons in paid employment. The new source of data for employed and self-employed persons excluding farmers is the Statistical Register of Employment (SRE), while data on farmers are forecast using the ARIMA model based on quarterly figure for farmers from the Labour Force Survey. Statistical Appendix 29Slovenian Economic Mirror, No 6/2021 Labour market 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 FORMAL LABOUR FORCE (A=B+E) 951.2 968.4 973.9 965.3 967.8 965.6 974.9 974.9 974.1 971.2 975.5 973.6 968.0 965.6 964.7 966.6 973.7 974.1 976.8 975.2 975.7 973.8 974.2 974.3 973.6 972.2 970.3 971.0 974.2 973.9 978.5 973.3 973.9 973.7 972.6 PERSONS IN FORMAL EMPLOYMENT (B=C+D)1 872.8 894.2 888.9 885.3 895.5 894.6 901.5 896.5 884.6 884.1 890.5 886.2 897.2 893.8 893.2 896.8 901.3 901.7 901.5 895.4 898.3 896.0 885.5 883.9 884.3 882.8 882.1 887.2 890.5 889.8 891.2 881.8 885.8 891.1 893.3 In agriculture, forestry, fishing 26.3 24.9 26.4 25.6 25.4 23.8 24.8 26.3 26.4 26.4 26.3 25.7 25.4 23.8 23.8 23.8 24.8 24.8 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 In industry, construction 280.9 291.7 288.5 287.5 292.7 292.7 294.0 291.2 288.0 286.0 288.9 288.4 293.2 292.9 292.4 292.9 293.8 293.7 294.4 290.5 291.2 291.9 289.1 288.0 286.9 286.3 285.3 286.3 287.4 288.4 290.9 286.1 288.3 290.8 291.8 - in manufacturing 202.6 207.9 202.8 207.4 208.5 207.6 208.4 206.2 202.6 200.1 202.5 202.8 208.5 207.6 207.4 207.7 208.3 208.1 208.8 206.2 206.3 205.9 203.8 202.6 201.3 200.1 199.7 200.4 201.1 202.3 204.1 201.7 202.7 203.9 204.8 - in construction 58.4 63.9 64.9 60.4 64.2 65.1 65.8 64.3 64.7 65.1 65.6 65.1 64.7 65.2 65.0 65.1 65.6 65.8 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 In services 565.7 577.6 574.0 572.2 577.5 578.0 582.8 579.0 570.2 571.7 575.3 572.1 578.7 577.1 577.0 580.0 582.7 583.2 582.4 578.6 580.8 577.7 570.1 569.5 570.9 570.1 570.4 574.5 576.7 575.1 574.1 570.1 571.9 574.5 575.7 - in public administration 49.0 49.0 49.3 48.7 48.9 49.0 49.2 49.0 49.2 49.4 49.6 49.3 49.0 49.0 49.0 49.1 49.2 49.2 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 - in education, health-services and social work 135.0 137.8 141.5 137.0 137.8 137.0 139.6 140.4 140.7 141.0 143.8 144.4 137.8 136.5 136.3 138.2 139.1 139.8 139.9 139.4 140.6 141.0 140.6 140.6 140.9 140.2 140.3 142.5 143.5 144.0 143.9 143.4 144.5 145.4 145.7 FORMALLY EMPLOYED (C)1 780.2 801.9 794.6 792.7 803.0 803.3 808.6 802.4 790.5 790.0 795.6 791.6 804.6 802.7 802.0 805.3 808.4 808.9 808.7 801.2 804.0 801.9 791.5 789.8 790.3 788.9 788.1 792.9 795.8 794.8 796.2 787.4 791.2 796.1 798.3 In enterprises and organisations 729.3 749.2 744.8 741.6 749.7 750.0 755.5 751.3 741.3 739.9 746.7 744.6 751.2 749.4 748.7 751.9 754.7 755.4 756.3 749.9 752.5 751.6 742.8 740.7 740.5 738.9 738.1 742.6 745.9 745.9 748.3 740.8 744.3 748.8 750.6 By those self-employed 50.9 52.7 49.8 51.1 53.2 53.4 53.2 51.1 49.2 50.1 48.9 46.9 53.4 53.4 53.3 53.5 53.7 53.5 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 SELF-EMPLOYED AND FARMERS (D) 92.6 92.3 94.3 92.6 92.6 91.2 92.9 94.1 94.0 94.1 94.9 94.7 92.6 91.0 91.2 91.4 92.9 92.9 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 REGISTERED UNEMPLOYMENT (E) 78.5 74.2 85.0 80.0 72.2 71.1 73.4 78.4 89.5 87.1 85.0 87.4 70.7 71.9 71.5 69.8 72.4 72.4 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 Female 39.9 37.5 42.6 39.6 36.8 36.6 36.8 38.3 45.0 44.1 43.0 44.1 36.1 37.1 37.1 35.7 36.9 36.8 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 By age: 15 to 29 15.1 14.1 17.2 15.5 13.1 12.6 15.0 15.3 18.3 17.1 18.0 17.7 12.6 12.8 12.6 12.4 15.1 14.8 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 Aged over 50 31.5 29.7 31.0 31.5 29.6 29.0 28.7 30.6 31.9 31.3 30.3 31.6 29.3 29.3 29.1 28.6 28.4 28.4 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 Primary education or less 24.3 23.4 26.4 25.8 22.8 22.1 23.0 25.2 27.8 26.6 26.1 27.5 22.3 22.3 22.1 22.1 22.4 22.5 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 For more than 1 year 40.6 38.1 38.0 39.2 38.3 37.9 37.2 37.3 37.5 38.1 38.9 41.5 38.0 38.0 37.8 37.9 37.6 37.2 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 Those receiving benefits 20.0 19.3 25.9 23.5 17.4 17.9 18.5 24.5 29.8 25.6 24.0 25.1 17.1 17.5 18.4 17.9 18.2 18.7 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 RATE OF REGISTERED UNEMPLOYMENT, E/A, in % 8.3 7.7 8.7 8.3 7.5 7.4 7.5 8.0 9.2 9.0 8.7 9.0 7.3 7.4 7.4 7.2 7.4 7.4 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 Male 7.5 6.9 8.0 7.7 6.7 6.5 6.8 7.5 8.4 8.1 7.9 8.2 6.5 6.6 6.5 6.5 6.7 6.7 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 Female 9.2 8.5 9.6 9.0 8.4 8.4 8.3 8.6 10.2 10.0 9.7 9.9 8.2 8.5 8.5 8.1 8.3 8.3 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 FLOWS OF FORMAL LABOUR FORCE -6.5 -0.3 1.0 -0.7 -1.9 -0.3 1.8 0.9 3.8 -1.9 1.2 -1.5 -1.3 1.1 -0.3 -1.7 2.6 0.0 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 New unemployed first-job seekers 11.4 0.8 0.8 0.6 0.4 0.6 1.6 0.6 0.5 0.6 1.5 0.5 0.4 0.4 0.3 1.0 3.6 0.8 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 Redundancies 65.1 5.4 7.4 6.5 4.1 4.8 6.2 7.5 9.5 6.0 6.4 6.0 3.8 5.8 3.9 4.8 5.9 5.3 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 Registered unemployed who found employment 61.5 4.7 5.4 6.2 4.8 3.9 3.9 5.5 4.8 6.5 4.6 6.4 3.8 3.3 2.9 5.4 4.6 3.9 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 Other outflows from unemployment (net) 21.6 1.8 1.8 1.7 1.7 1.8 2.1 1.7 1.3 2.0 2.2 1.8 1.6 1.8 1.6 2.0 2.3 2.1 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 FIXED TERM WORK PERMITS FOR FOREIGNERS 24.0 33.1 37.6 29.6 32.3 34.2 35.7 35.6 34.9 37.7 38.1 38.8 32.9 33.5 34.1 35.0 35.7 36.3 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 As % of labour force 2.5 3.4 3.9 3.1 3.3 3.5 3.7 3.6 3.6 3.9 3.9 4.0 3.4 3.5 3.5 3.6 3.7 3.7 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 Sources: SURS, PDII, ESS. Notes: 1 In January 2005, the SORS adopted new methodology of obtaining data on persons in paid employment. The new source of data for employed and self-employed persons excluding farmers is the Statistical Register of Employment (SRE), while data on farmers are forecast using the ARIMA model based on quarterly figure for farmers from the Labour Force Survey. Statistical Appendix30 Slovenian Economic Mirror, No 6/2021 Wages in EUR 2018 2019 2020 2019 2020 2021 2019 2020 2021 2020 Q1 21 Apr 21 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 GROSS WAGE PER EMPLOYEE, nominal in € y-o-y growth rates, % TOTAL 1,856 1,978 1,995 3.4 4.3 5.8 4.6 3.9 4.5 4.2 3.2 8.8 4.8 6.7 10.6 3.4 4.9 3.9 4.7 4.1 4.5 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 Private sector activities (A–N; R–S) 1,750 1,816 1,828 3.8 3.6 3.8 4.0 3.2 4.0 3.1 2.8 5.5 3.9 3.2 6.1 2.7 4.4 2.9 3.5 2.9 4.5 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 Public service activities (OPQ) 2,187 2,463 2,498 2.4 6.5 10.5 6.4 6.1 6.0 7.6 4.2 15.8 6.3 16.0 20.9 5.4 6.3 6.7 8.6 7.6 4.3 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 Industry (B–E) 1,815 1,881 1,873 3.8 3.4 3.4 3.5 3.2 3.9 3.0 4.3 3.5 3.1 2.7 4.2 2.2 4.5 3.0 2.7 3.4 4.9 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 Trad, market services (GHI) 1,583 1,634 1,680 4.0 3.4 2.8 4.3 3.1 3.8 2.5 1.1 4.9 3.8 1.9 6.8 3.0 3.8 2.5 4.4 0.6 3.6 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 Other market services (J–N; R–S) 1,979 2,069 2,064 3.9 5.1 5.0 5.7 4.4 5.4 4.8 3.2 7.7 5.1 4.3 7.3 3.9 5.7 3.9 4.9 5.5 5.6 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 A Agriculture, forestry and fishing 1,489 1,480 1,528 5.3 3.0 4.6 5.4 3.0 3.8 0.3 5.2 7.7 3.5 2.4 1.8 2.3 3.6 5.8 -4.8 0.3 4.1 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 B Mining and quarrying 2,360 2,285 2,276 7.6 0.3 5.1 -3.0 -1.8 2.6 3.8 4.3 9.8 2.8 3.7 -3.2 -2.5 4.6 3.8 4.8 2.8 1.2 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 C Manufacturing 1,772 1,850 1,829 3.9 3.5 3.2 3.6 3.5 3.9 2.9 4.2 2.8 3.0 2.7 4.6 2.3 4.5 3.0 2.6 3.2 5.0 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 D Electricity, gas, steam and air conditioning supply 2,734 2,674 2,917 2.9 4.3 4.0 4.6 2.4 4.7 5.6 6.4 5.3 3.2 1.5 -0.7 3.9 5.0 2.9 8.1 5.6 6.9 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 E Water supply sewerage, waste management and remediation activities 1,739 1,755 1,784 3.0 2.7 4.2 3.7 2.0 3.9 1.6 2.9 7.7 3.6 3.0 4.1 2.2 4.3 3.0 -2.0 4.0 1.6 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 F Constrution 1,390 1,425 1,473 4.2 2.2 5.5 2.0 1.6 2.8 2.3 2.0 9.4 5.2 5.7 8.9 2.3 3.0 2.4 1.9 2.4 3.5 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 G Wholesale and retail trade, repair of motor vehicles and motorcycles 1,676 1,720 1,760 4.2 3.9 4.2 4.9 3.2 4.5 3.2 2.3 6.1 4.8 3.9 5.9 3.9 5.1 3.3 3.6 2.7 4.6 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 H Transportation and storage 1,565 1,573 1,643 3.3 1.6 -0.1 2.7 2.3 2.0 -0.2 0.3 1.1 1.0 -2.4 2.7 1.1 0.8 -0.2 5.3 -5.1 0.9 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 I Accommodation and food service activities 1,180 1,217 1,247 4.9 4.8 -3.8 5.2 4.6 4.3 5.2 -3.0 -5.9 2.2 -9.5 4.9 3.3 4.7 4.5 7.1 3.9 5.1 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 J Information and communication 2,480 2,539 2,550 4.1 5.7 4.5 6.8 5.9 4.6 5.4 4.0 6.5 4.1 3.6 4.5 3.3 6.4 2.9 6.9 6.4 5.9 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 K Financial and insurance activities 2,658 2,861 2,759 4.8 4.6 2.5 6.0 2.8 5.3 4.3 2.7 4.1 2.3 0.8 5.7 3.5 6.7 2.0 4.4 6.4 5.6 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 L Real estate activities 1,676 1,687 1,727 0.9 5.2 4.2 3.7 5.8 5.4 5.5 3.6 7.9 4.5 1.3 4.0 5.6 5.4 5.8 6.7 3.9 5.5 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 M Professional, scientific and technical activities 2,048 2,124 2,140 4.2 4.6 4.0 4.3 4.1 5.0 5.0 2.4 6.3 4.0 3.5 7.2 4.5 5.1 5.2 5.6 4.2 5.2 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 N Administrative and support service activities 1,258 1,295 1,302 5.8 5.1 4.7 6.1 4.4 6.1 3.6 4.0 7.4 3.9 4.1 5.2 3.2 4.1 4.0 1.4 5.4 4.8 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 O Public administration and defence, compulsory social security 2,352 2,593 2,655 3.2 8.9 7.4 9.5 9.4 8.6 8.1 3.0 14.2 3.6 9.0 16.0 7.4 8.0 8.0 8.9 7.5 4.4 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 P Education 1,951 2,079 2,156 0.9 6.1 6.2 5.3 5.4 5.3 8.1 3.8 6.4 8.3 6.5 10.1 5.0 5.8 6.0 9.4 8.9 4.5 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 Q Human health and social work activities 2,323 2,794 2,764 3.4 5.1 17.7 5.0 4.1 4.5 6.9 5.7 26.5 6.6 31.4 36.2 4.4 5.4 6.3 7.6 6.6 4.1 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 R Arts, entertainment and recreation 1,778 1,872 1,894 1.7 4.3 0.0 5.1 2.7 3.8 5.4 -1.1 -2.4 4.5 -1.1 7.5 3.7 3.7 3.0 9.2 4.0 2.7 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 S Other service activities 1,491 1,539 1,527 1.2 4.7 4.5 4.5 3.2 4.5 6.1 0.1 12.3 3.7 3.0 8.9 3.9 5.4 4.1 6.0 8.3 3.3 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 Source: SURS, calculations by IMAD. Statistical Appendix 31Slovenian Economic Mirror, No 6/2021 Wages in EUR 2018 2019 2020 2019 2020 2021 2019 2020 2021 2020 Q1 21 Apr 21 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 GROSS WAGE PER EMPLOYEE, nominal in € y-o-y growth rates, % TOTAL 1,856 1,978 1,995 3.4 4.3 5.8 4.6 3.9 4.5 4.2 3.2 8.8 4.8 6.7 10.6 3.4 4.9 3.9 4.7 4.1 4.5 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 Private sector activities (A–N; R–S) 1,750 1,816 1,828 3.8 3.6 3.8 4.0 3.2 4.0 3.1 2.8 5.5 3.9 3.2 6.1 2.7 4.4 2.9 3.5 2.9 4.5 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 Public service activities (OPQ) 2,187 2,463 2,498 2.4 6.5 10.5 6.4 6.1 6.0 7.6 4.2 15.8 6.3 16.0 20.9 5.4 6.3 6.7 8.6 7.6 4.3 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 Industry (B–E) 1,815 1,881 1,873 3.8 3.4 3.4 3.5 3.2 3.9 3.0 4.3 3.5 3.1 2.7 4.2 2.2 4.5 3.0 2.7 3.4 4.9 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 Trad, market services (GHI) 1,583 1,634 1,680 4.0 3.4 2.8 4.3 3.1 3.8 2.5 1.1 4.9 3.8 1.9 6.8 3.0 3.8 2.5 4.4 0.6 3.6 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 Other market services (J–N; R–S) 1,979 2,069 2,064 3.9 5.1 5.0 5.7 4.4 5.4 4.8 3.2 7.7 5.1 4.3 7.3 3.9 5.7 3.9 4.9 5.5 5.6 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 A Agriculture, forestry and fishing 1,489 1,480 1,528 5.3 3.0 4.6 5.4 3.0 3.8 0.3 5.2 7.7 3.5 2.4 1.8 2.3 3.6 5.8 -4.8 0.3 4.1 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 B Mining and quarrying 2,360 2,285 2,276 7.6 0.3 5.1 -3.0 -1.8 2.6 3.8 4.3 9.8 2.8 3.7 -3.2 -2.5 4.6 3.8 4.8 2.8 1.2 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 C Manufacturing 1,772 1,850 1,829 3.9 3.5 3.2 3.6 3.5 3.9 2.9 4.2 2.8 3.0 2.7 4.6 2.3 4.5 3.0 2.6 3.2 5.0 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 D Electricity, gas, steam and air conditioning supply 2,734 2,674 2,917 2.9 4.3 4.0 4.6 2.4 4.7 5.6 6.4 5.3 3.2 1.5 -0.7 3.9 5.0 2.9 8.1 5.6 6.9 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 E Water supply sewerage, waste management and remediation activities 1,739 1,755 1,784 3.0 2.7 4.2 3.7 2.0 3.9 1.6 2.9 7.7 3.6 3.0 4.1 2.2 4.3 3.0 -2.0 4.0 1.6 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 F Constrution 1,390 1,425 1,473 4.2 2.2 5.5 2.0 1.6 2.8 2.3 2.0 9.4 5.2 5.7 8.9 2.3 3.0 2.4 1.9 2.4 3.5 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 G Wholesale and retail trade, repair of motor vehicles and motorcycles 1,676 1,720 1,760 4.2 3.9 4.2 4.9 3.2 4.5 3.2 2.3 6.1 4.8 3.9 5.9 3.9 5.1 3.3 3.6 2.7 4.6 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 H Transportation and storage 1,565 1,573 1,643 3.3 1.6 -0.1 2.7 2.3 2.0 -0.2 0.3 1.1 1.0 -2.4 2.7 1.1 0.8 -0.2 5.3 -5.1 0.9 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 I Accommodation and food service activities 1,180 1,217 1,247 4.9 4.8 -3.8 5.2 4.6 4.3 5.2 -3.0 -5.9 2.2 -9.5 4.9 3.3 4.7 4.5 7.1 3.9 5.1 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 J Information and communication 2,480 2,539 2,550 4.1 5.7 4.5 6.8 5.9 4.6 5.4 4.0 6.5 4.1 3.6 4.5 3.3 6.4 2.9 6.9 6.4 5.9 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 K Financial and insurance activities 2,658 2,861 2,759 4.8 4.6 2.5 6.0 2.8 5.3 4.3 2.7 4.1 2.3 0.8 5.7 3.5 6.7 2.0 4.4 6.4 5.6 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 L Real estate activities 1,676 1,687 1,727 0.9 5.2 4.2 3.7 5.8 5.4 5.5 3.6 7.9 4.5 1.3 4.0 5.6 5.4 5.8 6.7 3.9 5.5 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 M Professional, scientific and technical activities 2,048 2,124 2,140 4.2 4.6 4.0 4.3 4.1 5.0 5.0 2.4 6.3 4.0 3.5 7.2 4.5 5.1 5.2 5.6 4.2 5.2 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 N Administrative and support service activities 1,258 1,295 1,302 5.8 5.1 4.7 6.1 4.4 6.1 3.6 4.0 7.4 3.9 4.1 5.2 3.2 4.1 4.0 1.4 5.4 4.8 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 O Public administration and defence, compulsory social security 2,352 2,593 2,655 3.2 8.9 7.4 9.5 9.4 8.6 8.1 3.0 14.2 3.6 9.0 16.0 7.4 8.0 8.0 8.9 7.5 4.4 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 P Education 1,951 2,079 2,156 0.9 6.1 6.2 5.3 5.4 5.3 8.1 3.8 6.4 8.3 6.5 10.1 5.0 5.8 6.0 9.4 8.9 4.5 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 Q Human health and social work activities 2,323 2,794 2,764 3.4 5.1 17.7 5.0 4.1 4.5 6.9 5.7 26.5 6.6 31.4 36.2 4.4 5.4 6.3 7.6 6.6 4.1 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 R Arts, entertainment and recreation 1,778 1,872 1,894 1.7 4.3 0.0 5.1 2.7 3.8 5.4 -1.1 -2.4 4.5 -1.1 7.5 3.7 3.7 3.0 9.2 4.0 2.7 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 S Other service activities 1,491 1,539 1,527 1.2 4.7 4.5 4.5 3.2 4.5 6.1 0.1 12.3 3.7 3.0 8.9 3.9 5.4 4.1 6.0 8.3 3.3 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 Source: SURS, calculations by IMAD. Statistical Appendix32 Slovenian Economic Mirror, No 6/2021 Prices and indicators of overall competitiveness 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 CPI, y-o-y growth rates, % 1.4 1.8 -1.1 1.6 2.0 1.5 1.5 -0.9 0.0 -0.7 -0.5 1.9 1.8 2.0 2.3 1.7 1.4 1.4 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 Food, non-alcoholic beverages 0.6 3.3 1.0 1.1 2.5 2.4 4.0 4.4 3.6 2.0 -0.3 -1.3 2.2 2.9 2.9 1.7 1.5 2.4 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 Alcoholic beverages, tobacco 0.4 1.9 3.2 0.4 1.6 1.6 1.7 1.3 0.3 3.5 3.5 3.6 1.1 1.6 1.7 1.6 1.4 1.6 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 Clothing and footwear 0.3 0.5 -5.4 0.5 3.6 0.5 1.3 -3.8 -4.1 -4.5 -4.2 1.2 1.5 3.2 5.2 2.3 0.6 0.5 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 1.7 Housing, water, electricity, gas 4.7 2.7 -0.6 5.3 4.5 2.6 0.7 -5.5 0.7 -0.3 1.7 8.5 5.2 4.8 4.9 3.9 2.9 2.1 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 Furnishing, household equipm. 0.9 0.4 -0.4 1.0 1.9 0.9 1.0 -0.9 0.2 -0.2 -0.1 1.7 1.5 2.2 2.7 0.7 1.3 1.0 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 1.3 Medical, pharmaceutical produ. 1.3 1.4 4.9 2.0 1.3 1.5 1.0 0.0 1.0 3.8 1.1 2.5 2.1 1.2 1.4 1.4 1.7 1.4 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 Transport -0.7 0.1 -5.9 0.1 -1.3 -0.8 -0.2 -7.4 -6.6 -6.7 -2.6 5.3 -0.9 -1.3 -0.7 -2.0 -0.9 -1.6 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 Communications 3.3 -0.4 0.6 0.0 -0.2 0.4 -1.5 0.0 1.0 0.9 0.3 0.2 -0.7 -0.5 -1.2 1.1 0.5 1.2 -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 Recreation and culture 1.9 0.6 -3.9 1.3 2.1 0.5 -0.1 0.2 0.3 -1.7 -3.0 -2.9 1.3 2.0 2.1 2.2 0.8 0.2 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 Education 1.7 5.6 0.7 3.5 4.2 5.6 4.8 3.3 2.2 0.6 0.7 0.8 3.5 3.5 3.5 5.6 5.5 5.6 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 Catering services 2.4 3.2 0.6 3.3 3.0 3.0 2.0 1.3 1.0 0.7 0.6 1.3 3.6 2.9 3.3 2.8 2.9 2.8 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 Miscellaneous goods & services 1.7 4.4 0.7 2.1 2.4 4.1 4.9 3.7 2.9 0.9 0.5 -0.3 1.8 1.8 2.0 3.5 3.4 4.5 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 HICP 1.4 2.0 -1.2 1.8 2.0 1.6 1.7 -1.2 -0.6 -0.9 -0.6 2.0 1.9 2.0 2.4 1.7 1.5 1.4 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 Core inflation (excluding fresh food and energy) 1.2 1.6 -0.1 1.5 2.1 1.7 1.5 0.5 0.6 0.2 -0.2 0.6 1.7 1.9 2.3 2.1 1.8 1.8 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 PRODUCER PRICE INDICES, y-o-y growth rates, % Total 1.4 0.6 -0.2 0.9 0.3 0.4 -0.1 -0.6 -0.3 -0.1 1.2 0.5 0.2 0.2 0.4 0.2 0.5 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 Domestic market 1.2 2.1 1.0 2.1 1.9 2.0 1.3 0.3 0.3 0.9 1.9 2.0 1.8 1.9 2.1 1.9 2.0 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 Non-domestic market 1.6 -0.9 -1.4 -0.3 -1.4 -1.2 -1.4 -1.4 -0.8 -1.1 0.4 -0.9 -1.3 -1.5 -1.3 -1.5 -1.1 -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 Euro area 1.6 -0.7 -1.2 -0.3 -1.6 -1.2 -1.7 -1.5 -0.4 -0.8 1.3 -0.9 -1.6 -1.8 -1.5 -1.7 -1.1 -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 Non-euro area 1.7 -1.2 -1.8 -0.3 -0.7 -1.1 -0.5 -1.3 -1.8 -1.9 -1.5 -0.9 -0.5 -0.8 -0.8 -1.0 -1.0 -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 Import price indices 1.7 -1.4 -2.6 0.2 -1.9 -1.9 -2.3 -4.7 -3.5 -3.4 1.3 -1.2 -1.3 -2.2 -2.2 -2.4 -2.0 -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 INDICATORS OF OVERALL COMPETITIVENESS1, y-o-y growth rates, % Effective exchange rate2, nominal 0.8 -0.4 0.8 -0.2 -0.4 -0.3 0.0 0.7 1.2 1.3 1.2 0.4 0.1 -0.5 -0.1 -0.5 -0.4 -0.4 -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 Real (deflator HICP) 0.8 -0.3 -0.4 -0.1 0.2 -0.3 -0.1 -1.3 -0.1 0.0 -0.5 0.2 0.4 -0.2 0.7 -0.1 -0.2 -0.4 -0.2 -0.2 -0.3 0.0 -1.5 -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 -0.8 Real (deflator ULC) 0.8 0.9 3.5 1.6 1.2 0.7 4.6 2.8 1.2 5.3 0.7 USD / EUR 1.1815 1.1196 1.1413 1.1239 1.1116 1.1072 1.1023 1.1006 1.1695 1.1928 1.2056 1.2057 1.1293 1.1218 1.1126 1.1004 1.1053 1.1051 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 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 33Slovenian Economic Mirror, No 6/2021 Prices and indicators of overall competitiveness 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 CPI, y-o-y growth rates, % 1.4 1.8 -1.1 1.6 2.0 1.5 1.5 -0.9 0.0 -0.7 -0.5 1.9 1.8 2.0 2.3 1.7 1.4 1.4 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 Food, non-alcoholic beverages 0.6 3.3 1.0 1.1 2.5 2.4 4.0 4.4 3.6 2.0 -0.3 -1.3 2.2 2.9 2.9 1.7 1.5 2.4 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 Alcoholic beverages, tobacco 0.4 1.9 3.2 0.4 1.6 1.6 1.7 1.3 0.3 3.5 3.5 3.6 1.1 1.6 1.7 1.6 1.4 1.6 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 Clothing and footwear 0.3 0.5 -5.4 0.5 3.6 0.5 1.3 -3.8 -4.1 -4.5 -4.2 1.2 1.5 3.2 5.2 2.3 0.6 0.5 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 1.7 Housing, water, electricity, gas 4.7 2.7 -0.6 5.3 4.5 2.6 0.7 -5.5 0.7 -0.3 1.7 8.5 5.2 4.8 4.9 3.9 2.9 2.1 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 Furnishing, household equipm. 0.9 0.4 -0.4 1.0 1.9 0.9 1.0 -0.9 0.2 -0.2 -0.1 1.7 1.5 2.2 2.7 0.7 1.3 1.0 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 1.3 Medical, pharmaceutical produ. 1.3 1.4 4.9 2.0 1.3 1.5 1.0 0.0 1.0 3.8 1.1 2.5 2.1 1.2 1.4 1.4 1.7 1.4 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 Transport -0.7 0.1 -5.9 0.1 -1.3 -0.8 -0.2 -7.4 -6.6 -6.7 -2.6 5.3 -0.9 -1.3 -0.7 -2.0 -0.9 -1.6 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 Communications 3.3 -0.4 0.6 0.0 -0.2 0.4 -1.5 0.0 1.0 0.9 0.3 0.2 -0.7 -0.5 -1.2 1.1 0.5 1.2 -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 Recreation and culture 1.9 0.6 -3.9 1.3 2.1 0.5 -0.1 0.2 0.3 -1.7 -3.0 -2.9 1.3 2.0 2.1 2.2 0.8 0.2 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 Education 1.7 5.6 0.7 3.5 4.2 5.6 4.8 3.3 2.2 0.6 0.7 0.8 3.5 3.5 3.5 5.6 5.5 5.6 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 Catering services 2.4 3.2 0.6 3.3 3.0 3.0 2.0 1.3 1.0 0.7 0.6 1.3 3.6 2.9 3.3 2.8 2.9 2.8 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 Miscellaneous goods & services 1.7 4.4 0.7 2.1 2.4 4.1 4.9 3.7 2.9 0.9 0.5 -0.3 1.8 1.8 2.0 3.5 3.4 4.5 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 HICP 1.4 2.0 -1.2 1.8 2.0 1.6 1.7 -1.2 -0.6 -0.9 -0.6 2.0 1.9 2.0 2.4 1.7 1.5 1.4 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 Core inflation (excluding fresh food and energy) 1.2 1.6 -0.1 1.5 2.1 1.7 1.5 0.5 0.6 0.2 -0.2 0.6 1.7 1.9 2.3 2.1 1.8 1.8 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 PRODUCER PRICE INDICES, y-o-y growth rates, % Total 1.4 0.6 -0.2 0.9 0.3 0.4 -0.1 -0.6 -0.3 -0.1 1.2 0.5 0.2 0.2 0.4 0.2 0.5 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 Domestic market 1.2 2.1 1.0 2.1 1.9 2.0 1.3 0.3 0.3 0.9 1.9 2.0 1.8 1.9 2.1 1.9 2.0 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 Non-domestic market 1.6 -0.9 -1.4 -0.3 -1.4 -1.2 -1.4 -1.4 -0.8 -1.1 0.4 -0.9 -1.3 -1.5 -1.3 -1.5 -1.1 -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 Euro area 1.6 -0.7 -1.2 -0.3 -1.6 -1.2 -1.7 -1.5 -0.4 -0.8 1.3 -0.9 -1.6 -1.8 -1.5 -1.7 -1.1 -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 Non-euro area 1.7 -1.2 -1.8 -0.3 -0.7 -1.1 -0.5 -1.3 -1.8 -1.9 -1.5 -0.9 -0.5 -0.8 -0.8 -1.0 -1.0 -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 Import price indices 1.7 -1.4 -2.6 0.2 -1.9 -1.9 -2.3 -4.7 -3.5 -3.4 1.3 -1.2 -1.3 -2.2 -2.2 -2.4 -2.0 -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 INDICATORS OF OVERALL COMPETITIVENESS1, y-o-y growth rates, % Effective exchange rate2, nominal 0.8 -0.4 0.8 -0.2 -0.4 -0.3 0.0 0.7 1.2 1.3 1.2 0.4 0.1 -0.5 -0.1 -0.5 -0.4 -0.4 -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 Real (deflator HICP) 0.8 -0.3 -0.4 -0.1 0.2 -0.3 -0.1 -1.3 -0.1 0.0 -0.5 0.2 0.4 -0.2 0.7 -0.1 -0.2 -0.4 -0.2 -0.2 -0.3 0.0 -1.5 -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 -0.8 Real (deflator ULC) 0.8 0.9 3.5 1.6 1.2 0.7 4.6 2.8 1.2 5.3 0.7 USD / EUR 1.1815 1.1196 1.1413 1.1239 1.1116 1.1072 1.1023 1.1006 1.1695 1.1928 1.2056 1.2057 1.1293 1.1218 1.1126 1.1004 1.1053 1.1051 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 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 Appendix34 Slovenian Economic Mirror, No 6/2021 Balance of payments 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 BALANCE OF PAYMENTS, BPM6 methodology, EUR m Current account 2,680 2,723 3,272 716 690 662 655 818 646 899 909 812 217 305 168 209 240 213 386 300 -30 236 335 246 213 127 306 397 128 374 460 265 185 305 168 339 338 Goods 1,282 1,330 2,503 414 434 204 278 583 585 730 604 576 42 148 244 139 42 22 214 137 -72 142 249 192 169 127 289 356 93 281 300 218 86 253 154 170 168 Exports 30,817 32,013 29,629 7,983 8,295 7,831 7,904 7,856 6,425 7,358 7,989 8,228 2,785 2,837 2,672 2,871 2,199 2,761 2,905 2,747 2,251 2,580 2,692 2,584 1,836 2,113 2,476 2,690 2,006 2,662 2,820 2,776 2,394 2,428 2,632 3,167 2,855 Imports 29,535 30,682 27,126 7,569 7,861 7,628 7,625 7,273 5,840 6,628 7,385 7,651 2,744 2,689 2,428 2,732 2,157 2,739 2,691 2,611 2,323 2,438 2,443 2,392 1,668 1,986 2,186 2,334 1,913 2,381 2,519 2,558 2,308 2,175 2,479 2,997 2,687 Services 2,625 2,787 1,985 534 691 831 732 512 398 536 538 476 286 203 201 283 290 258 301 219 211 192 195 125 134 112 152 177 153 206 250 133 156 134 144 198 186 Exports 8,104 8,548 6,871 1,794 2,097 2,431 2,227 1,773 1,448 1,796 1,854 1,566 735 660 701 856 815 760 759 697 770 608 621 544 460 444 544 640 577 580 639 539 676 447 497 622 595 Imports 5,478 5,762 4,887 1,260 1,406 1,600 1,495 1,261 1,050 1,260 1,316 1,090 449 457 500 573 525 502 458 478 559 415 426 419 326 332 393 463 424 373 389 407 520 313 352 425 409 Primary income -819 -853 -689 -9 -329 -239 -276 -113 -191 -269 -116 -114 -83 -18 -227 -156 -50 -33 -78 -40 -159 -1 -55 -56 -49 -56 -87 -102 -90 -77 -66 -35 -15 -9 -39 -65 -40 Receipts 1,578 1,701 1,621 418 481 355 445 456 375 334 455 430 123 214 143 122 106 127 130 144 172 187 139 130 137 134 105 114 109 111 118 155 182 171 140 119 135 Expenditures 2,397 2,554 2,310 428 810 594 722 569 567 603 572 544 207 233 371 278 157 159 207 184 331 188 194 186 186 190 191 216 199 188 185 190 197 180 179 185 175 Secondary income -408 -541 -526 -223 -106 -134 -78 -165 -146 -99 -117 -127 -27 -28 -51 -57 -42 -34 -52 -16 -10 -97 -53 -14 -41 -57 -48 -34 -28 -37 -24 -51 -42 -73 -91 37 24 Receipts 793 805 852 185 188 204 229 198 198 190 266 283 71 60 56 67 62 75 70 74 85 66 55 78 73 60 65 72 56 63 89 88 88 69 72 143 139 Expenditures 1,201 1,346 1,378 407 294 338 307 362 345 289 382 410 99 89 107 124 104 109 122 90 96 163 108 92 115 117 113 106 84 100 113 139 130 141 163 105 115 Capital account -225 -187 -217 -27 -11 -30 -120 -54 -18 -26 -119 142 -9 15 -18 -10 -10 -9 -9 29 -139 -17 -17 -19 -4 -3 -11 -16 2 -13 -15 0 -105 -17 32 127 26 Financial account 2,524 2,454 2,033 785 522 722 425 811 152 535 535 974 187 377 -42 497 -213 438 429 182 -186 253 336 222 274 -106 -15 145 132 257 321 322 -108 296 642 35 406 Direct investment -934 -748 23 -323 -193 -120 -112 -172 -111 -109 415 -164 -127 -27 -38 -45 -46 -29 107 -17 -201 -4 -65 -103 -285 -10 184 18 -170 43 -12 -36 464 -140 -30 6 -315 Assets 373 773 704 429 20 116 208 30 203 -77 548 308 -21 115 -74 101 -91 106 161 59 -11 100 134 -204 -119 172 150 -207 -104 234 187 78 282 -41 197 151 153 Liabilities 1,307 1,521 681 753 213 236 320 202 314 32 132 472 106 142 -36 146 -44 134 54 76 190 104 199 -101 167 182 -34 -225 66 192 200 114 -182 99 228 145 468 Portfolio investment 744 791 -1,775 546 -88 -92 424 -1,940 -1,916 1,328 753 -157 175 41 -303 -282 -17 207 86 -48 386 -848 -158 -934 -1,575 -490 150 274 507 547 -412 521 645 -1,128 488 483 928 Financial derivatives -81 -163 27 -184 20 -8 8 53 -32 5 2 11 8 3 10 -1 -9 3 3 1 4 14 11 28 -17 -8 -7 4 0 1 -5 2 5 9 1 1 4 Other investment 2,743 2,537 3,591 725 737 975 100 2,822 2,182 -715 -698 1,271 106 354 277 863 -152 264 221 260 -381 1,070 535 1,217 2,143 410 -371 -166 -206 -343 739 -179 -1,258 1,540 192 -461 -224 Assets 2,039 3,424 4,898 696 1,484 1,055 189 3,399 2,030 -647 116 3,085 221 771 491 843 89 123 177 409 -396 886 795 1,718 1,850 371 -191 -245 -241 -161 1,188 292 -1,364 1,688 1,340 57 -46 Other equity 68 84 61 43 35 28 -22 13 19 14 14 14 12 12 12 8 10 10 -8 -8 -7 5 4 5 4 6 9 5 5 4 5 5 4 5 5 5 6 Currency and deposits 1,493 2,836 4,699 -4 1,123 1,058 659 2,751 2,673 -791 67 2,144 199 564 360 904 196 -42 38 394 227 690 533 1,528 2,315 484 -127 -356 -132 -304 844 153 -930 1,368 1,001 -225 -113 Loans 215 412 245 49 324 57 -18 79 41 55 71 153 13 132 179 -2 28 31 -25 11 -5 14 27 38 21 8 12 -35 46 44 69 49 -47 36 14 103 -45 Insurance, pension schemes, and standardised guarantee schemes -7 13 3 8 1 1 2 2 3 -1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 Trade credit and advances 303 42 -203 571 -56 -142 -332 402 -545 75 -136 682 19 -27 -47 -80 -178 117 184 -15 -500 53 251 98 -368 -163 -14 96 -125 104 230 92 -458 189 272 221 39 Other assets -33 38 93 29 56 52 -100 151 -160 2 100 92 -22 90 -12 12 33 7 -13 26 -113 124 -21 48 -122 34 -72 46 -35 -10 40 -7 67 89 49 -46 67 Liabilities -704 887 1,307 -29 747 80 89 576 -151 69 813 1,814 115 418 214 -20 241 -141 -44 148 -15 -184 260 501 -293 -39 180 -79 -35 182 449 471 -107 148 1,149 517 178 Other equity 2 2 2 0 -1 0 2 0 0 0 2 2 -1 0 0 0 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 Currency and deposits -524 935 1,652 42 327 231 335 416 440 334 463 754 92 116 119 45 187 -1 144 20 171 4 66 346 299 -48 188 169 88 77 221 132 109 253 181 321 369 Loans -482 -158 -407 -107 146 53 -250 40 -256 -325 134 748 53 70 24 152 172 -271 -239 32 -43 -2 112 -70 -93 -5 -158 -113 -74 -138 53 230 -149 -9 793 -35 -167 Insurance, pension schemes, and standardised guarantee schemes 20 27 65 40 13 9 -35 40 18 6 0 0 4 4 4 3 3 3 -12 -12 -12 13 13 13 6 6 6 2 2 2 0 0 0 0 0 0 0 Trade credit and advances 331 62 -143 2 116 -140 84 -58 -393 20 288 203 -69 152 33 -173 -106 139 49 104 -68 -274 75 140 -502 -66 175 -122 -37 179 184 132 -28 -138 132 209 3 Other liabilities -51 19 137 -5 144 -72 -48 138 39 33 -73 106 36 74 34 -46 -15 -11 15 4 -66 74 -7 72 -4 73 -31 -14 -13 61 -10 -24 -40 41 42 23 -28 Special drawing rights (SDR) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve assets 52 37 166 21 44 -33 5 49 29 26 62 13 25 7 12 -37 11 -7 12 -15 7 22 13 14 9 -9 30 15 2 10 11 15 36 16 -8 5 12 Net errors and omissions 69 -81 -1,022 96 -157 90 -110 47 -476 -338 -255 20 -22 57 -192 298 -442 234 52 -147 -16 34 18 -5 65 -230 -311 -236 2 -104 -124 57 -187 9 442 -431 42 EXPORTS AND IMPORTS BY END-USE OF PRODUCTS, in EUR million Export of investment goods 3,556 3,841 3,546 926 949 953 1,013 852 808 900 991 916 310 324 315 340 261 352 336 344 333 253 316 283 230 278 301 325 240 336 336 329 325 265 295 355 N/A Intermediate goods 16,670 17,045 15,458 4,322 4,390 4,237 4,097 4,211 3,290 3,797 4,148 4,583 1,488 1,494 1,407 1,556 1,223 1,458 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 1,390 1,458 1,735 N/A Consumer goods 10,632 12,661 13,889 3,008 3,253 3,113 3,288 3,790 3,168 3,430 3,539 3,907 1,028 1,147 1,077 1,128 828 1,157 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 1,245 1,248 1,415 N/A Import of investment goods 4,237 4,391 3,979 1,045 1,103 1,054 1,188 936 849 964 1,258 1,053 369 372 362 386 266 403 374 389 424 330 308 298 214 298 338 347 278 340 378 464 416 301 337 415 N/A Intermediate goods 17,868 18,508 16,439 4,632 4,791 4,636 4,450 4,426 3,386 3,963 4,658 4,811 1,734 1,620 1,437 1,656 1,313 1,667 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 1,369 1,527 1,915 N/A Consumer goods 8,601 11,183 11,606 2,423 2,816 2,712 3,232 3,011 2,579 2,871 3,210 2,884 1,064 852 900 1,029 747 936 1,246 971 1,015 960 1,019 1,031 726 803 1,050 1,021 916 934 1,095 1,082 1,033 891 897 1,095 N/A Sources: BS, SURS. Note: The methodology of the Slovenian balance of payments and international investment position statistics follows the recommendations in the sixth edition of the Balance of Payments and International Investment Position Manual released by the International Monetary Fund. Statistical Appendix 35Slovenian Economic Mirror, No 6/2021 Balance of payments 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 BALANCE OF PAYMENTS, BPM6 methodology, EUR m Current account 2,680 2,723 3,272 716 690 662 655 818 646 899 909 812 217 305 168 209 240 213 386 300 -30 236 335 246 213 127 306 397 128 374 460 265 185 305 168 339 338 Goods 1,282 1,330 2,503 414 434 204 278 583 585 730 604 576 42 148 244 139 42 22 214 137 -72 142 249 192 169 127 289 356 93 281 300 218 86 253 154 170 168 Exports 30,817 32,013 29,629 7,983 8,295 7,831 7,904 7,856 6,425 7,358 7,989 8,228 2,785 2,837 2,672 2,871 2,199 2,761 2,905 2,747 2,251 2,580 2,692 2,584 1,836 2,113 2,476 2,690 2,006 2,662 2,820 2,776 2,394 2,428 2,632 3,167 2,855 Imports 29,535 30,682 27,126 7,569 7,861 7,628 7,625 7,273 5,840 6,628 7,385 7,651 2,744 2,689 2,428 2,732 2,157 2,739 2,691 2,611 2,323 2,438 2,443 2,392 1,668 1,986 2,186 2,334 1,913 2,381 2,519 2,558 2,308 2,175 2,479 2,997 2,687 Services 2,625 2,787 1,985 534 691 831 732 512 398 536 538 476 286 203 201 283 290 258 301 219 211 192 195 125 134 112 152 177 153 206 250 133 156 134 144 198 186 Exports 8,104 8,548 6,871 1,794 2,097 2,431 2,227 1,773 1,448 1,796 1,854 1,566 735 660 701 856 815 760 759 697 770 608 621 544 460 444 544 640 577 580 639 539 676 447 497 622 595 Imports 5,478 5,762 4,887 1,260 1,406 1,600 1,495 1,261 1,050 1,260 1,316 1,090 449 457 500 573 525 502 458 478 559 415 426 419 326 332 393 463 424 373 389 407 520 313 352 425 409 Primary income -819 -853 -689 -9 -329 -239 -276 -113 -191 -269 -116 -114 -83 -18 -227 -156 -50 -33 -78 -40 -159 -1 -55 -56 -49 -56 -87 -102 -90 -77 -66 -35 -15 -9 -39 -65 -40 Receipts 1,578 1,701 1,621 418 481 355 445 456 375 334 455 430 123 214 143 122 106 127 130 144 172 187 139 130 137 134 105 114 109 111 118 155 182 171 140 119 135 Expenditures 2,397 2,554 2,310 428 810 594 722 569 567 603 572 544 207 233 371 278 157 159 207 184 331 188 194 186 186 190 191 216 199 188 185 190 197 180 179 185 175 Secondary income -408 -541 -526 -223 -106 -134 -78 -165 -146 -99 -117 -127 -27 -28 -51 -57 -42 -34 -52 -16 -10 -97 -53 -14 -41 -57 -48 -34 -28 -37 -24 -51 -42 -73 -91 37 24 Receipts 793 805 852 185 188 204 229 198 198 190 266 283 71 60 56 67 62 75 70 74 85 66 55 78 73 60 65 72 56 63 89 88 88 69 72 143 139 Expenditures 1,201 1,346 1,378 407 294 338 307 362 345 289 382 410 99 89 107 124 104 109 122 90 96 163 108 92 115 117 113 106 84 100 113 139 130 141 163 105 115 Capital account -225 -187 -217 -27 -11 -30 -120 -54 -18 -26 -119 142 -9 15 -18 -10 -10 -9 -9 29 -139 -17 -17 -19 -4 -3 -11 -16 2 -13 -15 0 -105 -17 32 127 26 Financial account 2,524 2,454 2,033 785 522 722 425 811 152 535 535 974 187 377 -42 497 -213 438 429 182 -186 253 336 222 274 -106 -15 145 132 257 321 322 -108 296 642 35 406 Direct investment -934 -748 23 -323 -193 -120 -112 -172 -111 -109 415 -164 -127 -27 -38 -45 -46 -29 107 -17 -201 -4 -65 -103 -285 -10 184 18 -170 43 -12 -36 464 -140 -30 6 -315 Assets 373 773 704 429 20 116 208 30 203 -77 548 308 -21 115 -74 101 -91 106 161 59 -11 100 134 -204 -119 172 150 -207 -104 234 187 78 282 -41 197 151 153 Liabilities 1,307 1,521 681 753 213 236 320 202 314 32 132 472 106 142 -36 146 -44 134 54 76 190 104 199 -101 167 182 -34 -225 66 192 200 114 -182 99 228 145 468 Portfolio investment 744 791 -1,775 546 -88 -92 424 -1,940 -1,916 1,328 753 -157 175 41 -303 -282 -17 207 86 -48 386 -848 -158 -934 -1,575 -490 150 274 507 547 -412 521 645 -1,128 488 483 928 Financial derivatives -81 -163 27 -184 20 -8 8 53 -32 5 2 11 8 3 10 -1 -9 3 3 1 4 14 11 28 -17 -8 -7 4 0 1 -5 2 5 9 1 1 4 Other investment 2,743 2,537 3,591 725 737 975 100 2,822 2,182 -715 -698 1,271 106 354 277 863 -152 264 221 260 -381 1,070 535 1,217 2,143 410 -371 -166 -206 -343 739 -179 -1,258 1,540 192 -461 -224 Assets 2,039 3,424 4,898 696 1,484 1,055 189 3,399 2,030 -647 116 3,085 221 771 491 843 89 123 177 409 -396 886 795 1,718 1,850 371 -191 -245 -241 -161 1,188 292 -1,364 1,688 1,340 57 -46 Other equity 68 84 61 43 35 28 -22 13 19 14 14 14 12 12 12 8 10 10 -8 -8 -7 5 4 5 4 6 9 5 5 4 5 5 4 5 5 5 6 Currency and deposits 1,493 2,836 4,699 -4 1,123 1,058 659 2,751 2,673 -791 67 2,144 199 564 360 904 196 -42 38 394 227 690 533 1,528 2,315 484 -127 -356 -132 -304 844 153 -930 1,368 1,001 -225 -113 Loans 215 412 245 49 324 57 -18 79 41 55 71 153 13 132 179 -2 28 31 -25 11 -5 14 27 38 21 8 12 -35 46 44 69 49 -47 36 14 103 -45 Insurance, pension schemes, and standardised guarantee schemes -7 13 3 8 1 1 2 2 3 -1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 Trade credit and advances 303 42 -203 571 -56 -142 -332 402 -545 75 -136 682 19 -27 -47 -80 -178 117 184 -15 -500 53 251 98 -368 -163 -14 96 -125 104 230 92 -458 189 272 221 39 Other assets -33 38 93 29 56 52 -100 151 -160 2 100 92 -22 90 -12 12 33 7 -13 26 -113 124 -21 48 -122 34 -72 46 -35 -10 40 -7 67 89 49 -46 67 Liabilities -704 887 1,307 -29 747 80 89 576 -151 69 813 1,814 115 418 214 -20 241 -141 -44 148 -15 -184 260 501 -293 -39 180 -79 -35 182 449 471 -107 148 1,149 517 178 Other equity 2 2 2 0 -1 0 2 0 0 0 2 2 -1 0 0 0 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 Currency and deposits -524 935 1,652 42 327 231 335 416 440 334 463 754 92 116 119 45 187 -1 144 20 171 4 66 346 299 -48 188 169 88 77 221 132 109 253 181 321 369 Loans -482 -158 -407 -107 146 53 -250 40 -256 -325 134 748 53 70 24 152 172 -271 -239 32 -43 -2 112 -70 -93 -5 -158 -113 -74 -138 53 230 -149 -9 793 -35 -167 Insurance, pension schemes, and standardised guarantee schemes 20 27 65 40 13 9 -35 40 18 6 0 0 4 4 4 3 3 3 -12 -12 -12 13 13 13 6 6 6 2 2 2 0 0 0 0 0 0 0 Trade credit and advances 331 62 -143 2 116 -140 84 -58 -393 20 288 203 -69 152 33 -173 -106 139 49 104 -68 -274 75 140 -502 -66 175 -122 -37 179 184 132 -28 -138 132 209 3 Other liabilities -51 19 137 -5 144 -72 -48 138 39 33 -73 106 36 74 34 -46 -15 -11 15 4 -66 74 -7 72 -4 73 -31 -14 -13 61 -10 -24 -40 41 42 23 -28 Special drawing rights (SDR) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve assets 52 37 166 21 44 -33 5 49 29 26 62 13 25 7 12 -37 11 -7 12 -15 7 22 13 14 9 -9 30 15 2 10 11 15 36 16 -8 5 12 Net errors and omissions 69 -81 -1,022 96 -157 90 -110 47 -476 -338 -255 20 -22 57 -192 298 -442 234 52 -147 -16 34 18 -5 65 -230 -311 -236 2 -104 -124 57 -187 9 442 -431 42 EXPORTS AND IMPORTS BY END-USE OF PRODUCTS, in EUR million Export of investment goods 3,556 3,841 3,546 926 949 953 1,013 852 808 900 991 916 310 324 315 340 261 352 336 344 333 253 316 283 230 278 301 325 240 336 336 329 325 265 295 355 N/A Intermediate goods 16,670 17,045 15,458 4,322 4,390 4,237 4,097 4,211 3,290 3,797 4,148 4,583 1,488 1,494 1,407 1,556 1,223 1,458 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 1,390 1,458 1,735 N/A Consumer goods 10,632 12,661 13,889 3,008 3,253 3,113 3,288 3,790 3,168 3,430 3,539 3,907 1,028 1,147 1,077 1,128 828 1,157 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 1,245 1,248 1,415 N/A Import of investment goods 4,237 4,391 3,979 1,045 1,103 1,054 1,188 936 849 964 1,258 1,053 369 372 362 386 266 403 374 389 424 330 308 298 214 298 338 347 278 340 378 464 416 301 337 415 N/A Intermediate goods 17,868 18,508 16,439 4,632 4,791 4,636 4,450 4,426 3,386 3,963 4,658 4,811 1,734 1,620 1,437 1,656 1,313 1,667 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 1,369 1,527 1,915 N/A Consumer goods 8,601 11,183 11,606 2,423 2,816 2,712 3,232 3,011 2,579 2,871 3,210 2,884 1,064 852 900 1,029 747 936 1,246 971 1,015 960 1,019 1,031 726 803 1,050 1,021 916 934 1,095 1,082 1,033 891 897 1,095 N/A Sources: BS, SURS. Note: The methodology of the Slovenian balance of payments and international investment position statistics follows the recommendations in the sixth edition of the Balance of Payments and International Investment Position Manual released by the International Monetary Fund. Statistical Appendix36 Slovenian Economic Mirror, No 6/2021 Monetary indicators and interest rates 2018 2019 2020 2019 2019 2020 2021 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 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 7,256 7,023 7,152 7,219 7,327 7,606 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 Central government (S,1311) 4,937 4,696 4,520 4,980 4,805 4,819 4,944 5,089 5,058 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 Other government (S,1312,1313,1314) 580 602 639 588 587 583 577 581 577 570 567 574 573 577 602 613 616 613 614 612 602 601 608 602 598 607 639 638 643 638 634 632 Households (S,14, 15) 10,370 10,981 10,997 10,397 10,426 10,507 10,570 10,628 10,642 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 Non-financial corporations (S,11) 9,496 9,589 9,363 9,665 9,676 9,680 9,637 9,571 9,749 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 Non-monetary financial institutions (S,123, 124, 125) 1,502 1,661 1,640 1,503 1,490 1,486 1,484 1,482 1,496 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 Monetary financial institutions (S,121, 122) 4,275 5,230 7,969 4,247 4,380 4,207 3,963 4,099 4,001 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 Claims on domestic sectors, TOTAL In domestic currency 26,181 27,913 30,341 26,367 26,512 26,385 26,138 26,329 26,381 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 In foreign currency 446 391 345 435 432 434 420 422 419 416 420 412 398 392 391 389 390 389 390 387 388 374 368 354 352 343 345 337 330 324 316 310 Securities, total 4,429 4,382 4,361 4,475 4,397 4,433 4,580 4,659 4,685 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 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 29,468 29,903 29,916 29,994 30,177 30,260 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 Overnight 19,440 21,278 25,218 19,389 19,615 19,717 19,830 20,009 20,099 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 With agreed maturity – short-term 3,261 3,478 3,381 3,212 3,353 3,320 3,316 3,343 3,342 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 With agreed maturity – long-term 6,166 5,723 5,348 6,210 6,175 6,127 6,047 6,042 6,054 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 Short-term deposits redeemable at notice 575 630 620 657 760 752 801 783 765 768 779 746 813 788 630 760 692 662 683 672 560 584 615 640 678 643 620 649 656 621 629 622 Deposits in foreign currency, total 651 634 723 625 634 645 643 674 686 681 686 685 646 658 634 632 647 677 670 691 718 691 699 728 706 711 723 721 740 786 776 810 Overnight 581 577 675 552 564 575 575 606 621 616 622 620 585 598 577 573 588 622 617 631 652 627 638 672 655 662 675 671 696 739 731 766 With agreed maturity – short-term 31 26 25 33 29 29 28 28 29 28 27 28 26 25 26 27 29 26 25 33 40 39 37 32 28 26 25 28 24 26 25 26 With agreed maturity – long-term 39 31 23 40 41 41 40 40 36 37 37 37 35 35 31 32 30 29 28 27 26 25 24 24 23 23 23 22 20 21 20 18 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 0.01 0.01 0.01 0.01 0.01 0.01 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 0.16 0.18 0.17 0.16 0.19 0.17 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 New loans to households in domestic currency Housing loans, 5-10 year fixed interest rate 2.65 2.66 2.21 2.81 2.72 2.69 2.66 2.80 2.65 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 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 .. 1.28 2.63 1.21 0.65 1.32 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 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 -0.308 -0.308 -0.309 -0.311 -0.312 -0.329 -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 6-month rates -0.266 -0.302 -0.364 -0.236 -0.232 -0.230 -0.231 -0.237 -0.279 -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 LIBOR 3-month rates -0.735 -0.737 -0.708 -0.704 -0.713 -0.707 -0.715 -0.713 -0.717 -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 6-month rates -0.653 -0.684 -0.659 -0.639 -0.652 -0.648 -0.650 -0.656 -0.673 -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 Sources: BoS, EUROSTAT. Statistical Appendix 37Slovenian Economic Mirror, No 6/2021 Monetary indicators and interest rates 2018 2019 2020 2019 2019 2020 2021 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 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 7,256 7,023 7,152 7,219 7,327 7,606 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 Central government (S,1311) 4,937 4,696 4,520 4,980 4,805 4,819 4,944 5,089 5,058 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 Other government (S,1312,1313,1314) 580 602 639 588 587 583 577 581 577 570 567 574 573 577 602 613 616 613 614 612 602 601 608 602 598 607 639 638 643 638 634 632 Households (S,14, 15) 10,370 10,981 10,997 10,397 10,426 10,507 10,570 10,628 10,642 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 Non-financial corporations (S,11) 9,496 9,589 9,363 9,665 9,676 9,680 9,637 9,571 9,749 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 Non-monetary financial institutions (S,123, 124, 125) 1,502 1,661 1,640 1,503 1,490 1,486 1,484 1,482 1,496 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 Monetary financial institutions (S,121, 122) 4,275 5,230 7,969 4,247 4,380 4,207 3,963 4,099 4,001 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 Claims on domestic sectors, TOTAL In domestic currency 26,181 27,913 30,341 26,367 26,512 26,385 26,138 26,329 26,381 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 In foreign currency 446 391 345 435 432 434 420 422 419 416 420 412 398 392 391 389 390 389 390 387 388 374 368 354 352 343 345 337 330 324 316 310 Securities, total 4,429 4,382 4,361 4,475 4,397 4,433 4,580 4,659 4,685 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 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 29,468 29,903 29,916 29,994 30,177 30,260 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 Overnight 19,440 21,278 25,218 19,389 19,615 19,717 19,830 20,009 20,099 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 With agreed maturity – short-term 3,261 3,478 3,381 3,212 3,353 3,320 3,316 3,343 3,342 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 With agreed maturity – long-term 6,166 5,723 5,348 6,210 6,175 6,127 6,047 6,042 6,054 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 Short-term deposits redeemable at notice 575 630 620 657 760 752 801 783 765 768 779 746 813 788 630 760 692 662 683 672 560 584 615 640 678 643 620 649 656 621 629 622 Deposits in foreign currency, total 651 634 723 625 634 645 643 674 686 681 686 685 646 658 634 632 647 677 670 691 718 691 699 728 706 711 723 721 740 786 776 810 Overnight 581 577 675 552 564 575 575 606 621 616 622 620 585 598 577 573 588 622 617 631 652 627 638 672 655 662 675 671 696 739 731 766 With agreed maturity – short-term 31 26 25 33 29 29 28 28 29 28 27 28 26 25 26 27 29 26 25 33 40 39 37 32 28 26 25 28 24 26 25 26 With agreed maturity – long-term 39 31 23 40 41 41 40 40 36 37 37 37 35 35 31 32 30 29 28 27 26 25 24 24 23 23 23 22 20 21 20 18 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 0.01 0.01 0.01 0.01 0.01 0.01 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 0.16 0.18 0.17 0.16 0.19 0.17 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 New loans to households in domestic currency Housing loans, 5-10 year fixed interest rate 2.65 2.66 2.21 2.81 2.72 2.69 2.66 2.80 2.65 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 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 .. 1.28 2.63 1.21 0.65 1.32 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 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 -0.308 -0.308 -0.309 -0.311 -0.312 -0.329 -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 6-month rates -0.266 -0.302 -0.364 -0.236 -0.232 -0.230 -0.231 -0.237 -0.279 -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 LIBOR 3-month rates -0.735 -0.737 -0.708 -0.704 -0.713 -0.707 -0.715 -0.713 -0.717 -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 6-month rates -0.653 -0.684 -0.659 -0.639 -0.652 -0.648 -0.650 -0.656 -0.673 -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 Sources: BoS, EUROSTAT. Statistical Appendix38 Slovenian Economic Mirror, No 6/2021 Public finance 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 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 4,518.9 4,944.0 4,671.6 5,097.8 4,649.5 4,094.2 4,892.9 4,892.0 4,803.8 1,618.9 1,461.5 1,556.0 1,654.1 1,669.3 1,612.8 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 1,644.7 1,894.8 1,878.1 Current revenues 17,575.9 18,293.3 17,578.7 4,276.0 4,730.5 4,478.2 4,808.7 4,409.1 3,917.7 4,634.5 4,617.4 4,525.8 1,565.5 1,438.2 1,539.6 1,500.4 1,626.9 1,576.5 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 1,613.3 1,422.4 1,490.1 1,802.3 1,797.2 Tax revenues 16,225.3 17,179.1 16,460.4 4,103.3 4,350.6 4,169.7 4,555.6 4,159.4 3,578.0 4,343.3 4,379.8 4,241.4 1,405.1 1,308.2 1,461.2 1,400.2 1,535.2 1,498.3 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 Taxes on income and profit 3,296.4 3,614.0 3,261.8 850.4 1,058.4 717.7 987.4 879.9 692.0 764.7 925.2 941.8 332.0 126.7 308.1 282.9 305.1 313.3 369.0 296.6 292.1 291.3 190.1 204.9 296.9 158.5 302.0 304.2 281.9 301.1 342.2 304.8 317.1 320.0 411.8 414.8 Social security contributions 6,549.8 7,021.3 7,289.9 1,710.3 1,734.9 1,745.5 1,830.6 1,819.7 1,603.2 1,954.5 1,912.5 1,915.2 578.2 583.8 582.3 579.4 579.4 586.8 664.4 615.1 599.2 605.4 391.2 526.4 685.5 681.5 648.2 624.9 605.4 609.7 697.4 628.1 643.0 644.1 664.9 665.6 Taxes on payroll and workforce 21.6 23.2 21.6 5.3 5.9 5.4 6.6 5.9 4.0 5.6 6.1 5.0 2.1 2.1 1.6 1.6 2.0 2.1 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 Taxes on property 277.9 296.4 287.3 26.3 67.6 120.9 81.6 31.0 48.6 111.3 96.4 33.5 28.9 35.7 36.6 48.5 35.8 30.4 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 Domestic taxes on goods and services 5,989.3 6,126.7 5,493.3 1,427.8 1,490.3 1,565.7 1,643.0 1,376.4 1,069.0 1,565.1 1,482.7 1,268.6 456.0 564.8 522.0 478.9 601.5 575.0 466.6 631.2 446.7 298.5 372.7 285.5 410.8 582.5 510.9 471.7 600.1 506.5 376.1 504.1 350.8 413.7 622.4 447.4 Taxes on international trade & transactions 89.8 98.6 102.4 25.5 25.6 25.5 22.1 24.0 24.5 25.3 28.7 28.1 8.0 10.2 8.1 7.2 8.0 7.4 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 Other taxes 0.5 -1.1 4.1 57.8 -32.0 -11.1 -15.8 22.5 136.7 -83.4 -71.7 49.2 -0.1 -15.2 2.5 1.6 3.4 -16.6 -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 Non-tax revenues 1,350.6 1,114.2 1,118.2 172.6 380.0 308.5 253.1 249.7 339.7 291.3 237.6 284.3 160.4 130.0 78.4 100.1 91.6 78.2 83.2 56.7 79.2 113.8 84.4 156.7 98.6 130.7 67.2 93.4 73.9 80.0 83.6 121.8 95.7 66.8 62.7 246.3 Capital revenues 152.8 136.4 146.9 23.9 31.2 34.4 46.9 31.2 20.1 31.3 64.3 36.4 9.3 15.0 7.3 12.1 15.3 11.9 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 Grants 12.4 13.8 17.5 5.2 1.1 6.3 1.2 8.1 1.4 6.9 1.1 6.7 0.4 0.2 0.5 5.6 1.2 3.7 -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 Transferred revenues 55.6 58.3 54.8 1.8 3.1 50.3 3.1 0.2 21.7 30.6 2.3 1.7 1.6 0.0 0.2 50.1 0.0 -0.2 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 Receipts from the EU budget 796.9 730.5 730.7 212.1 178.0 102.4 238.0 200.9 133.3 189.6 206.9 233.3 42.1 8.1 8.4 85.9 25.9 20.9 191.1 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 GENERAL GOVERNMENT EXPENDITURES, EUR m TOTAL EXPENDITURES 18,068.0 18,968.8 22,070.6 4,689.9 4,506.0 4,705.7 5,067.2 5,024.6 5,703.7 5,250.2 6,092.2 6,102.6 1,559.9 1,700.8 1,487.7 1,517.2 1,540.6 1,628.2 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 2,067.4 1,724.0 2,311.2 1,772.4 1,968.5 Current expenditures 7,966.5 8,228.3 9,127.8 2,116.1 2,010.6 2,007.6 2,094.0 2,359.6 2,074.0 2,201.0 2,493.2 2,658.3 704.2 691.1 657.8 658.6 642.1 696.0 755.9 799.9 625.1 934.5 684.8 647.1 742.1 754.3 682.0 764.7 681.2 745.6 1,066.5 789.4 719.4 1,149.5 707.5 859.4 Wages, salaries and other personnel expenditures 4,167.9 4,470.5 4,965.3 1,069.5 1,178.3 1,101.6 1,121.2 1,183.0 1,318.3 1,242.2 1,221.7 1,483.4 459.4 375.1 368.2 358.2 375.5 370.3 375.4 403.1 385.6 394.3 381.4 413.0 524.0 469.4 390.2 382.7 374.7 406.5 440.5 501.9 431.9 549.6 423.5 554.5 Expenditures on goods and services 2,633.7 2,728.0 3,020.7 600.5 667.6 673.8 786.0 686.8 661.6 739.0 933.4 724.9 224.1 250.8 204.7 218.3 246.0 236.1 303.9 235.1 205.0 246.8 250.8 215.5 195.3 232.1 206.4 300.5 228.9 249.1 455.4 195.8 235.8 293.3 229.9 282.9 Interest payments 867.9 791.5 778.0 404.2 122.7 175.7 88.9 442.4 53.7 187.0 95.0 386.9 3.8 47.2 56.3 72.2 8.8 66.9 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 Reserves 296.9 238.4 363.8 42.0 42.1 56.4 97.9 47.3 40.5 32.8 243.2 63.1 17.0 18.0 28.6 9.9 11.9 22.8 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 Current transfers 8,236.6 8,704.2 10,867.7 2,187.9 2,107.1 2,201.2 2,208.1 2,308.7 3,219.2 2,632.9 2,706.9 3,019.0 713.4 849.6 668.4 683.1 711.5 740.5 756.0 781.6 759.5 767.6 887.4 945.4 1,386.5 986.3 830.7 815.9 799.3 867.4 1,040.2 1,156.8 837.9 1,024.2 914.0 956.2 Subsidies 443.9 467.9 1,449.3 161.8 113.4 53.5 139.3 167.9 711.7 305.5 264.2 298.7 47.1 19.9 16.5 17.0 33.1 49.3 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 68.1 58.7 84.9 114.9 Current transfers to individuals and households 6,925.8 7,323.9 8,250.8 1,784.6 1,816.5 1,912.6 1,810.3 1,902.6 2,253.7 2,061.9 2,032.5 2,494.4 603.2 745.7 578.4 588.4 605.9 599.9 604.4 623.5 643.0 636.0 742.7 678.2 832.8 666.2 695.2 700.4 657.8 675.4 699.4 972.6 674.8 846.9 733.7 731.7 Current transfers to non- profit institutions, other current domestic transfers 793.5 827.7 1,083.2 216.6 163.1 215.3 232.7 215.0 242.6 248.9 376.7 195.9 60.1 77.0 63.0 75.3 70.2 75.7 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 88.0 104.9 77.2 104.3 Current transfers abroad 73.4 84.7 84.4 25.0 14.1 19.8 25.9 23.2 11.2 16.6 33.4 29.9 3.0 6.9 10.5 2.3 2.4 15.5 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 Capital expenditures 1,159.9 1,252.9 1,230.6 156.1 240.3 315.4 541.2 172.8 232.7 263.2 561.9 194.3 85.2 102.0 100.3 113.1 122.9 141.7 276.6 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 62.7 84.3 86.6 91.1 Capital transfers 271.6 273.6 318.5 24.9 49.3 57.8 141.6 29.6 42.9 68.0 178.0 33.6 17.0 17.1 19.7 21.0 24.0 31.0 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 11.5 17.3 23.9 14.5 Payments to the EU budget 433.4 509.7 526.0 204.8 98.8 123.8 82.3 154.0 134.7 85.1 152.2 197.5 40.1 41.0 41.5 41.3 40.0 19.0 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 SURPLUS / DEFICIT 525.6 263.5 -3,542.1 -171.0 438.0 -34.2 30.6 -375.2 -1,609.5 -357.3 -1,200.1 -1,298.7 58.9 -239.3 68.3 136.9 128.8 -15.3 -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 -392.9 -239.4 -666.5 122.3 -90.3 Source: MF. Statistical Appendix 39Slovenian Economic Mirror, No 6/2021 Public finance 2018 2019 2020 2019 2020 2021 2019 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 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 4,518.9 4,944.0 4,671.6 5,097.8 4,649.5 4,094.2 4,892.9 4,892.0 4,803.8 1,618.9 1,461.5 1,556.0 1,654.1 1,669.3 1,612.8 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 1,644.7 1,894.8 1,878.1 Current revenues 17,575.9 18,293.3 17,578.7 4,276.0 4,730.5 4,478.2 4,808.7 4,409.1 3,917.7 4,634.5 4,617.4 4,525.8 1,565.5 1,438.2 1,539.6 1,500.4 1,626.9 1,576.5 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 1,613.3 1,422.4 1,490.1 1,802.3 1,797.2 Tax revenues 16,225.3 17,179.1 16,460.4 4,103.3 4,350.6 4,169.7 4,555.6 4,159.4 3,578.0 4,343.3 4,379.8 4,241.4 1,405.1 1,308.2 1,461.2 1,400.2 1,535.2 1,498.3 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 Taxes on income and profit 3,296.4 3,614.0 3,261.8 850.4 1,058.4 717.7 987.4 879.9 692.0 764.7 925.2 941.8 332.0 126.7 308.1 282.9 305.1 313.3 369.0 296.6 292.1 291.3 190.1 204.9 296.9 158.5 302.0 304.2 281.9 301.1 342.2 304.8 317.1 320.0 411.8 414.8 Social security contributions 6,549.8 7,021.3 7,289.9 1,710.3 1,734.9 1,745.5 1,830.6 1,819.7 1,603.2 1,954.5 1,912.5 1,915.2 578.2 583.8 582.3 579.4 579.4 586.8 664.4 615.1 599.2 605.4 391.2 526.4 685.5 681.5 648.2 624.9 605.4 609.7 697.4 628.1 643.0 644.1 664.9 665.6 Taxes on payroll and workforce 21.6 23.2 21.6 5.3 5.9 5.4 6.6 5.9 4.0 5.6 6.1 5.0 2.1 2.1 1.6 1.6 2.0 2.1 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 Taxes on property 277.9 296.4 287.3 26.3 67.6 120.9 81.6 31.0 48.6 111.3 96.4 33.5 28.9 35.7 36.6 48.5 35.8 30.4 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 Domestic taxes on goods and services 5,989.3 6,126.7 5,493.3 1,427.8 1,490.3 1,565.7 1,643.0 1,376.4 1,069.0 1,565.1 1,482.7 1,268.6 456.0 564.8 522.0 478.9 601.5 575.0 466.6 631.2 446.7 298.5 372.7 285.5 410.8 582.5 510.9 471.7 600.1 506.5 376.1 504.1 350.8 413.7 622.4 447.4 Taxes on international trade & transactions 89.8 98.6 102.4 25.5 25.6 25.5 22.1 24.0 24.5 25.3 28.7 28.1 8.0 10.2 8.1 7.2 8.0 7.4 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 Other taxes 0.5 -1.1 4.1 57.8 -32.0 -11.1 -15.8 22.5 136.7 -83.4 -71.7 49.2 -0.1 -15.2 2.5 1.6 3.4 -16.6 -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 Non-tax revenues 1,350.6 1,114.2 1,118.2 172.6 380.0 308.5 253.1 249.7 339.7 291.3 237.6 284.3 160.4 130.0 78.4 100.1 91.6 78.2 83.2 56.7 79.2 113.8 84.4 156.7 98.6 130.7 67.2 93.4 73.9 80.0 83.6 121.8 95.7 66.8 62.7 246.3 Capital revenues 152.8 136.4 146.9 23.9 31.2 34.4 46.9 31.2 20.1 31.3 64.3 36.4 9.3 15.0 7.3 12.1 15.3 11.9 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 Grants 12.4 13.8 17.5 5.2 1.1 6.3 1.2 8.1 1.4 6.9 1.1 6.7 0.4 0.2 0.5 5.6 1.2 3.7 -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 Transferred revenues 55.6 58.3 54.8 1.8 3.1 50.3 3.1 0.2 21.7 30.6 2.3 1.7 1.6 0.0 0.2 50.1 0.0 -0.2 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 Receipts from the EU budget 796.9 730.5 730.7 212.1 178.0 102.4 238.0 200.9 133.3 189.6 206.9 233.3 42.1 8.1 8.4 85.9 25.9 20.9 191.1 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 GENERAL GOVERNMENT EXPENDITURES, EUR m TOTAL EXPENDITURES 18,068.0 18,968.8 22,070.6 4,689.9 4,506.0 4,705.7 5,067.2 5,024.6 5,703.7 5,250.2 6,092.2 6,102.6 1,559.9 1,700.8 1,487.7 1,517.2 1,540.6 1,628.2 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 2,067.4 1,724.0 2,311.2 1,772.4 1,968.5 Current expenditures 7,966.5 8,228.3 9,127.8 2,116.1 2,010.6 2,007.6 2,094.0 2,359.6 2,074.0 2,201.0 2,493.2 2,658.3 704.2 691.1 657.8 658.6 642.1 696.0 755.9 799.9 625.1 934.5 684.8 647.1 742.1 754.3 682.0 764.7 681.2 745.6 1,066.5 789.4 719.4 1,149.5 707.5 859.4 Wages, salaries and other personnel expenditures 4,167.9 4,470.5 4,965.3 1,069.5 1,178.3 1,101.6 1,121.2 1,183.0 1,318.3 1,242.2 1,221.7 1,483.4 459.4 375.1 368.2 358.2 375.5 370.3 375.4 403.1 385.6 394.3 381.4 413.0 524.0 469.4 390.2 382.7 374.7 406.5 440.5 501.9 431.9 549.6 423.5 554.5 Expenditures on goods and services 2,633.7 2,728.0 3,020.7 600.5 667.6 673.8 786.0 686.8 661.6 739.0 933.4 724.9 224.1 250.8 204.7 218.3 246.0 236.1 303.9 235.1 205.0 246.8 250.8 215.5 195.3 232.1 206.4 300.5 228.9 249.1 455.4 195.8 235.8 293.3 229.9 282.9 Interest payments 867.9 791.5 778.0 404.2 122.7 175.7 88.9 442.4 53.7 187.0 95.0 386.9 3.8 47.2 56.3 72.2 8.8 66.9 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 Reserves 296.9 238.4 363.8 42.0 42.1 56.4 97.9 47.3 40.5 32.8 243.2 63.1 17.0 18.0 28.6 9.9 11.9 22.8 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 Current transfers 8,236.6 8,704.2 10,867.7 2,187.9 2,107.1 2,201.2 2,208.1 2,308.7 3,219.2 2,632.9 2,706.9 3,019.0 713.4 849.6 668.4 683.1 711.5 740.5 756.0 781.6 759.5 767.6 887.4 945.4 1,386.5 986.3 830.7 815.9 799.3 867.4 1,040.2 1,156.8 837.9 1,024.2 914.0 956.2 Subsidies 443.9 467.9 1,449.3 161.8 113.4 53.5 139.3 167.9 711.7 305.5 264.2 298.7 47.1 19.9 16.5 17.0 33.1 49.3 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 68.1 58.7 84.9 114.9 Current transfers to individuals and households 6,925.8 7,323.9 8,250.8 1,784.6 1,816.5 1,912.6 1,810.3 1,902.6 2,253.7 2,061.9 2,032.5 2,494.4 603.2 745.7 578.4 588.4 605.9 599.9 604.4 623.5 643.0 636.0 742.7 678.2 832.8 666.2 695.2 700.4 657.8 675.4 699.4 972.6 674.8 846.9 733.7 731.7 Current transfers to non- profit institutions, other current domestic transfers 793.5 827.7 1,083.2 216.6 163.1 215.3 232.7 215.0 242.6 248.9 376.7 195.9 60.1 77.0 63.0 75.3 70.2 75.7 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 88.0 104.9 77.2 104.3 Current transfers abroad 73.4 84.7 84.4 25.0 14.1 19.8 25.9 23.2 11.2 16.6 33.4 29.9 3.0 6.9 10.5 2.3 2.4 15.5 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 Capital expenditures 1,159.9 1,252.9 1,230.6 156.1 240.3 315.4 541.2 172.8 232.7 263.2 561.9 194.3 85.2 102.0 100.3 113.1 122.9 141.7 276.6 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 62.7 84.3 86.6 91.1 Capital transfers 271.6 273.6 318.5 24.9 49.3 57.8 141.6 29.6 42.9 68.0 178.0 33.6 17.0 17.1 19.7 21.0 24.0 31.0 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 11.5 17.3 23.9 14.5 Payments to the EU budget 433.4 509.7 526.0 204.8 98.8 123.8 82.3 154.0 134.7 85.1 152.2 197.5 40.1 41.0 41.5 41.3 40.0 19.0 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 SURPLUS / DEFICIT 525.6 263.5 -3,542.1 -171.0 438.0 -34.2 30.6 -375.2 -1,609.5 -357.3 -1,200.1 -1,298.7 58.9 -239.3 68.3 136.9 128.8 -15.3 -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 -392.9 -239.4 -666.5 122.3 -90.3 Source: MF. Acronyms40 Slovenian Economic Mirror, No 6/2021 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, 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, 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, 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. 6, Vol. XXVII, 2021