|Unit||Mil. EUR, NSA|
|Adjustments||Not Seasonally Adjusted|
|Balance of Goods||Mar 2020||192.8||254.9||Mil. EUR, NSA||Monthly|
|Current Account Balance||Mar 2020||286.8||366.9||Mil. EUR, NSA||Monthly|
|Exports of Goods||Mar 2020||2,574||2,682||Mil. EUR, NSA||Monthly|
|Exports of Goods and Services||2020 Q1||9,870||10,078||Mil. EUR, CDASA||Quarterly|
|Imports of Goods||Mar 2020||2,381||2,427||Mil. EUR, NSA||Monthly|
|Imports of Goods and Services||2020 Q1||8,681||8,859||Mil. EUR, CDASA||Quarterly|
|Net Exports||2020 Q1||1,188||1,218||Mil. EUR, CDASA||Quarterly|
|Real Exports of Goods and Services||2020 Q1||9,152||9,333||Mil. 2010 EUR, CDASA||Quarterly|
|Real Imports of Goods and Services||2020 Q1||8,229||8,322||Mil. 2010 EUR, CDASA||Quarterly|
The balance of payments is a statistical statement that systematically summarizes, for a specific time period, the economic transactions of the residents of Slovenia with the rest of the world. Transactions, for the most part between residents and nonresidents, consist of those involving goods, services, and income; those involving financial claims on, and liabilities to, the rest of the world; and those (such as gifts) classified as transfers, which involve offsetting entries to balance--in an accounting sense--one-sided transactions.
Scope of the data
Transactions coverage: Balance of payments statistics systematically summarize, for a specific time period, all economic transactions between residents and nonresidents. It includes individuals who have a permit to work or live in Slovenia for more than six months.
Geographic coverage: Before 1991, the year of Slovenia's independence, balance of payments data exclude transactions of Slovenia with other Yugoslav Republics. After 1991, all transactions between residents and nonresidents are included.
Conversion to unit of account: Data reported in foreign currencies are converted to local currency at daily exchange rates or average exchange rates of the period. Changes in stocks of reserve assets, expressed in foreign currencies, are converted to US dollars, Euros and Slovenian tolars using average monthly exchange rates.
Valuation: Data on stocks of external financial assets and liabilities are converted at market exchange rates prevailing at the end of the period, while transactions are valued at market prices.
Recording of income: Interest on loans and other interest (including long-term trade credits), income on reserve assets, and income on bonds and notes is recorded on an accrual basis. Dividend income is recorded on a cash basis. Compensation of employees (receipts and expenditures) is recorded on a gross basis (including taxes and contributions).
Basic Data Sources
Goods: The main source is the foreign trade statistics compiled by the Statistical Office of the Republic of Slovenia (SORS). Exports and imports of goods are supplemented with information for selected transactions not recorded in the customs data.
Services: The main source of data is the international transactions reporting system (ITRS), which is used to compile data on transportation services, selected elements of travel transactions and data on other services.
Income: The main source of data on compensation of employees - expenditures is the ITRS. Data on compensation of employees - receipts are obtained from the Labor Force Survey (responsibility of SORS) and Eurostat's database. Income on other investment and income on equity direct investment is available from the ITRS. Data on reinvested earnings are obtained from annual surveys on capital investments. Data sources for income on portfolio investment (equity and debt) are reports on operations in securities (VRP reports) and data from the Central Securities Clearing Corporation (KDD).
Current transfers: The main sources of data are the ITRS and customs data for goods in kind. Exceptions are European Union transfers of government sector which are obtained directly from the Ministry of Finance (budget data) and data on pensions paid to non-resident which are provided by the Slovenian Pension and Invalidity Insurance Agency.
Capital transfers: The sources for data on capitals transfers are the ITRS, estimates and data provided by the Ministry of Finance (budget data).
Direct investment: The main sources of data are the ITRS and customs data for the direct investors equity contributions in kind.
Portfolio investment: The main sources of data are reports on operations in securities provided by the authorized securities market participants (VRP reports) and data provided by the Slovenian Central Securities Clearing Corporation (KDD).
Financial derivatives: The main sources of data are reports on operations in securities provided by the authorized securities market participants (VRP reports) and data provided by the Slovenian Central Securities Clearing Corporation (KDD).
Other investment: Direct reports (KRD reports) are the source of data for loans and long-term commercial credits as well as currency and deposits from nonbanking sector. Data for loans, currency, and deposits for banks are derived from reports provided by banks, which report stock data in original currencies. Data on currency and deposits held by households are in part derived from the ITRS and in part on estimates. Until 2001, data on short-term commercial credits are estimates, based on a comparison of data on imports and exports from customs declarations and the corresponding settlements. From 2002 onwards, short-term trade credits are included on the basis of companies’ reports on short-term claims and liabilities to non-residents.
Reserve assets: The source of the data on reserve assets, comprising monetary gold, SDRs, reserve position in the Fund, and foreign exchange, are administrative records of Bank of Slovenia (accounting data).
Goods: Adjustments for coverage are made for goods not recorded by Customs, based on information provided by payments documents and reports from duty-free shops and consignment warehouses. Import are adjusted for valuation from a c.i.f. basis to an f.o.b. basis by means of coefficients that take account of the share of freight and insurance by type of commodity, means of transport, and country of origin of the goods.
Services: Data on travel receipts from the ITRS is supplemented with data on sales of tolars to nonresidents, estimated on the basis of the number of nights spent by foreign travelers, an average consumption estimated on the basis of information from a 1993 survey of households, and the number of tourist arrivals/border crossings.
Data on construction cover both long-term and short-term (less than one year) contracts. Service charges, implicitly included in premiums on life and nonlife insurance, are estimated at 25 percent of premiums. The remainder is classified in current transfers.
Income: Data on compensation of employees - receipts are estimated on the basis of Labor Force Survey and data on average gross wages from Eurostat's database. The receipts are geographically allocated to the four neighboring countries. Data on expenditures are obtained from the ITRS. A coefficient between net and gross wages is applied in order to obtain data on a gross basis (including taxes and contributions). Reinvested earnings are derived from the yearly reports and are entered in the b.o.p. on a monthly basis (1/12 of the yearly value per month). For the current year data on reinvested earnings are estimated as the average of the latest three years of available data on reinvested earnings and one-twelfth of this value is entered in the current monthly balance of payments. Later, during the revision of the balance of payments in September, these estimates are replaced with the actual survey data.
Current transfers: Data from the ITRS are supplemented with estimates and data from the Ministry of Finance (for EU transfers of government sector). Current transfers of other sectors are subdivided into workers' remittances, insurance and other transfers. Transfers of government sector and other transfers of other sectors are subdivided into taxes, subsidies, social contributions, social benefits and other. European Union transfers of government sector are classified under current and capital transfers according to the goal for which the funds are used. The split was defined in cooperation with the SORS.
Capital transfers: Migrants' transfers include changes in the residency of accounts held with domestic banks. European Union transfers of government sector are classified under current and capital transfers according to the goal for which the funds are used. The split was defined in cooperation with the SORS.
Direct investment: Prior to 1997, all transactions in equity were recorded under direct investment. From 1997 onwards, direct investment was defined as at least 50 percent owned by foreign direct investors (from September 1999 onwards the ratio changed to 10 percent), a change related to the introduction of new capital control measures. Transactions in other assets and liabilities, except equity, between affiliated enterprises are classified in other investment, rather than direct investment. Data on reinvested earnings are available from annual surveys. From 2001 onwards inter-company debt transactions between affiliated enterprises (10 percent or more capital share) are recorded as direct investment - other capital transactions. Until 2001 this kind of transactions are recorded as loans. Since 2002 the item other capital within direct investment also includes data on short-term trade credits between affiliated enterprises.
Loans: From 2001 onwards inter-company debt transactions between affiliated enterprises (10 percent or more capital share) are not recorded as loans, but are recorded as direct investment - other capital transactions. In the case of affiliated banks or financial intermediaries, only mutually subordinated claims and liabilities (i.e. permanent debt) are classified as direct investment.
Portfolio investment: Prior to 1997, transactions in equity, appropriate to portfolio investment were classified as direct investment capital. From 1997 onwards, equity transactions pertaining to an ownership of less than 50 percent are classified as portfolio investment. From September 1999 onwards, the 50 percent ratio changed to 10 percent. Transactions are divided into assets and liabilities with further breakdown into equity and debt portfolio investment. Equity portfolio investment of separate sector is subdivided into mutual funds and other investment.
Financial derivatives: Slovenia collects data on financial derivatives since 2004. Financial derivatives are broken down by sector into Bank of Slovenia, government, banks and other.
Other investment: Short-term trade credits are estimated and recorded on a net basis as changes in foreign assets until 2001. From 2002 onwards, short-term commercial credits are included on the basis of companies' reports (SKV reports) on the assets' and liabilities' side of balance of payments. Short-term commercial credits between affiliated enterprises are included in direct investment while other commercial credits are included in other investment/trade credits. Loans (including long-term trade credits) and related income has been calculated according to the accrual principle from 2002 onwards. Item currency and deposits of households is estimated by using data on net purchases of foreign currency in foreign exchange offices, net deposits to households' foreign exchange account at domestic banks, estimated expenditure of resident households abroad and BIS (Bank for International Settlements) data on deposits held by residents with the banks abroad.
Reserve assets: Changes in reserve assets are calculated in their original currencies as differences in the amounts outstanding. These changes are converted to SIT, EUR and USD using average monthly exchange rates.
Seasonal adjustment: The data are not seasonally adjusted.
The data for the current month are preliminary when first released and are subject to revision. The data become final approximately 9 months after the end of the year and are published on the Internet and in the Bank of Slovenia Monthly Bulletin.