Economy - overview:
Slovenia, which, on 1 January 2007, became the first 2004 European Union entrant to adopt the euro, is a model of economic success and stability for the region. With the highest per capita GDP in Central Europe, Slovenia has excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe. Privatization has lagged since 2002, and the economy has one of highest levels of state control in the EU. Structural reforms to improve the business environment have allowed for somewhat greater foreign participation in Slovenia's economy and have helped to lower unemployment. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In December 2007, Slovenia was invited to begin the accession process for joining the OECD. Despite its economic success, foreign direct investment (FDI) in Slovenia has lagged behind the region average, and taxes remain relatively high. Furthermore, the labor market is often seen as inflexible, and legacy industries are losing sales to more competitive firms in China, India, and elsewhere. In 2009 the world recession caused the economy to contract - through falling exports and industrial production - more than 6% and unemployment to rise above 9%.
GDP (purchasing power parity):
$56.47 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$49.55 billion (2009 est.)
GDP - real growth rate:
-6.2% (2009 est.)
GDP - per capita (PPP):
$28,200 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 2.3%
industry:
30.5%
services:
67.2% (2009 est.)
Labor force:
910,000 (2009 est.)
Labor force - by occupation:
agriculture: 2.5%
industry:
36%
services:
61.5% (2007)
Unemployment rate:
9.4% (2009 est.)
Population below poverty line:
12.9% (2004)
Household income or consumption by percentage share:
lowest 10%: 3.4%
highest 10%:
24.6% (2004)
Distribution of family income - Gini index:
24 (2005)
Investment (gross fixed):
23.7% of GDP (2009 est.)
Budget:
revenues: $20.58 billion
expenditures:
$23.54 billion (2009 est.)
Public debt:
31.4% of GDP (2009 est.)
Inflation rate (consumer prices):
0.8% (2009 est.)
Central bank discount rate:
3% (31 December 2008)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
Commercial bank prime lending rate:
7.41% (31 December 2008)
Stock of money:
$NA (31 December 2008)
note: the figure for 2006 represents the US dollar value of tolars in circulation prior to Slovenia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders
Stock of quasi money:
$NA (31 December 2008)
Stock of domestic credit:
$50.31 billion (31 December 2008)
Market value of publicly traded shares:
$11.77 billion (31 December 2008)
Agriculture - products:
potatoes, hops, wheat, sugar beets, corn, grapes; cattle, sheep, poultry
Industries:
ferrous metallurgy and aluminum products, lead and zinc smelting; electronics (including military electronics), trucks, automobiles, electric power equipment, wood products, textiles, chemicals, machine tools
Industrial production growth rate:
-14% (2009 est.)
Electricity - production:
14.14 billion kWh (2007 est.)
Electricity - consumption:
13.5 billion kWh (2007 est.)
Electricity - exports:
7.82 billion kWh (2008 est.)
Electricity - imports:
6.218 billion kWh (2008 est.)
Oil - production:
5 bbl/day (2008 est.)
Oil - consumption:
61,000 bbl/day (2008 est.)
Oil - exports:
8,450 bbl/day (2007 est.)
Oil - imports:
63,080 bbl/day (2007 est.)
Oil - proved reserves:
0 bbl (1 January 2009 est.)
Natural gas - production:
0 cu m (2008 est.)
Natural gas - consumption:
1 billion cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
1 billion cu m (2008 est.)
Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
Current account balance:
$-657 million (2009 est.)
Exports:
$23.02 billion (2009 est.)
Exports - commodities:
manufactured goods, machinery and transport equipment, chemicals, food
Exports - partners:
Germany 18.7%, Italy 11.7%, Croatia 8.3%, Austria 7.5%, France 5.7%, Russia 4.8% (2008)
Imports:
$24.24 billion (2009 est.)
Imports - commodities:
machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Imports - partners:
Germany 17.2%, Italy 16.6%, Austria 11.2%, France 4.7%, Croatia 4.1% (2008)
Reserves of foreign exchange and gold:
$3.873 billion (31 December 2009 est.)
Debt - external:
$53.2 billion (30 June 2009 est.)
Stock of direct foreign investment - at home:
$12.51 billion (31 December 2009 est.)
Stock of direct foreign investment - abroad:
$8.492 billion (31 December 2009 est.)
Exchange rates:
euros (EUR) per US dollar - 0.73 (2009), 0.6827 (2008), 0.7345 (2007)
note:
(2006), (2005)
NOTE: The information regarding Slovenia on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovenia Economy 2010 information contained here. All suggestions for corrections of any errors about Slovenia Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10