Economic convergence monitor for Slovenia

Updated every Monday at around 11:30 CET via GitHub Actions
Last update: 20 October 2025, 20:03

GDP per capita

Gross Domestic Product (GDP) per capita measures the average economic output per person in a country. It provides an indication of the standard of living and overall economic prosperity of the population.

Nominal GDP per capita

Nominal GDP per capita measures the average economic output per person in a country, expressed in current EUR without adjusting for differences in price levels between countries. It reflects the absolute income level of individuals in monetary terms.

\[ \text{Nominal GDP per capita (EUR)} = \frac{\text{Nominal GDP in EUR}}{\text{Population}} \]

Nominal GDP per capita – PPP adjusted

Nominal GDP per capita adjusted for Purchasing Power Parity (PPP) measures the total economic output per person in a country, expressed in a common currency and adjusted for differences in price levels across countries. This gives a more accurate sense of the relative standard of living.

\[ \text{Nominal GDP per capita (PPP)} = \frac{\text{Nominal GDP in local currency} \times \text{PPP exchange rate}}{\text{Population}} \]

Productivity

Nominal labour productivity measures the economic output produced per employed person, expressed in current EUR. It reflects how efficiently labour is being used in generating GDP.

\[ \text{Labour productivity} = \frac{\text{Nominal GDP}}{\text{Total employment}} \]

Wages

Compensation per employee measures the average total remuneration (salaries, benefits, and social contributions) paid to each employee. It reflects the income employees receive for their labour.

Compensation per employee

Nominal compensation per employee measures the average monetary remuneration received by an employee, expressed in current EUR, without adjusting for differences in price levels between countries.

\[ \text{Nominal compensation per employee (EUR)} = \frac{\text{Total compensation of employees (EUR)}}{\text{Number of employees}} \]

Compensation per employee – PPP adjusted

Nominal compensation per employee adjusted for Purchasing Power Parity (PPP), measures the average remuneration received by an employee, expressed in a common currency and adjusted for differences in price levels across countries. This reflects the real purchasing power of labour income rather than just its nominal value.

\[ \text{Compensation per employee (PPP)} = \frac{\text{Total compensation of employees} \times \text{PPP exchange rate}}{\text{Number of employees}} \]

Comparison with the US

Comparing countries with the US allows us to assess how close they are to the global economic frontier. The United States represents a benchmark of a highly developed economy with high GDP per capita and advanced productivity.

GDP per capita

GDP per capita adjusted for Purchasing Power Parity (PPP) measures the average economic output per person, accounting for differences in price levels across countries. It reflects the real purchasing power of income rather than just nominal monetary value.

\[ \text{GDP per capita (PPP)} = \frac{\text{Nominal GDP in local currency} \times \text{PPP exchange rate}}{\text{Population}} \]

Labour productivity

Nominal GDP per hour worked adjusted for Purchasing Power Parity (PPP) measures the economic output produced for each hour of labour, accounting for differences in price levels across countries. It reflects the productivity of labour, allowing meaningful cross-country comparisons.

\[ \text{GDP per hour worked (PPP)} = \frac{\text{Nominal GDP in local currency} \times \text{PPP exchange rate}}{\text{Total Hours Worked}} \]