Charts of the week from 20 to 24 October 2025: average gross wage per employee and Slovenian industrial producer prices
The year-on-year nominal growth of the average gross wage has moderated, primarily due to slightly slower growth in the public sector, where it nevertheless remains elevated as a consequence of the ongoing wage reform. In the private sector, where wage dynamics continue to be supported by persistent labour shortages, growth remained broadly unchanged…
Slovenian Economic Mirror 6/2025: Positive developments in the export sector in recent months; construction activity higher year-on-year
The available economic indicators for Slovenia in recent months point to several positive developments in the export sector. Manufacturing output has been strengthening across all groups of industries by technological intensity since mid-year. Nevertheless, after the first eight months, it remained…
Charts of the week from 13 to 17 October 2025: activity in construction, current account of the balance of payments, number of persons in employment and other charts
After contracting in the first quarter, construction activity strengthened thereafter and was significantly higher year-on-year in August. The 12-month current account surplus up to August was EUR 110.9 million lower than in the preceding…
Charts of the week from 6 to 10 October 2025: production volume in manufacturing
Manufacturing output has been strengthening across all groups of industries by technological intensity (seasonally adjusted) since mid-year; however, in the first eight months, it was 1% lower year-on-year. The sharpest declines were recorded in the manufacture of motor vehicles, trailers and semi-trailers, and in the metal industry. The…
National productivity board
IMAD analyses productivity and competitiveness as the national productivity board
GDP and prices
This year, GDP growth is expected to slow to 0.8% (down from 1.7% last year), well below the levels projected in the spring (2.1%). The deceleration is primarily attributable to weaker export activity, particularly in the first half of the year, reflecting the economy’s relatively strong exposure to challenges in European industry. Economic growth in 2025 will be driven mainly by domestic demand, especially household consumption, supported by robust employment and accelerating wage growth. Inflation in 2025 (2.9% year-on-year at end-2025) will be somewhat higher than last year, mainly due to higher food prices, and above the level projected in the spring, before gradually easing over the next two years (towards 2.3%).
Labour market
Employment is projected to decline on average in 2025, and then largely stagnate over the following two years, while unemployment is expected to remain low throughout the entire period. Nominal wage growth in 2025 will exceed last year’s growth, driven mainly by increases in the public sector (phasing-in of the wage reform) before easing somewhat thereafter. Real wage growth will exceed the rates observed a decade ago.
International trade
Total exports this year are expected to remain broadly unchanged from last year, and significantly below the levels projected in the spring. Goods exports are projected to decline, mainly due to lower exports of intermediate goods, while services exports are expected to increase. With a gradual improvement in foreign demand, a recovery in the export-oriented sector of the economy is anticipated over the next two years. The current account surplus is gradually declining.
IMAD
The Institute of Macroeconomic Analysis and Development of the Republic of Slovenia is an independent government office.
The Institute performs the following tasks:
- it monitors and analyses current trends and development in its economic, social and environmental dimensions;
- it monitors and analyses the achieving of the development objectives of the country;
- it prepares macroeconomic forecasts and other expert groundwork that serve as the basis for budgetary planning and formulating economic policy measures;
- it analyses productivity and competitiveness as the national productivity board;
- it carries out research work.