Slovenia flag

The Economy of Slovenia

Slovenian Economy

Slovenia's map

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.

GDP:

GDP - real growth rate: 4.3% (2008 est.) 6.8% (2007 est.) 5.9% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 2.2% industry: 34.2% services: 63.6% (2008 est.)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: 3.6% highest 10%: 21.4% (1998)

Distribution of family income - Gini index: 24 (2005)

Inflation rate (consumer prices):

Labor force: 920,000 (2008 est.)

Labor force - by occupation: agriculture: 2.5% industry: 36% services: 61.5% (2007)

Unemployment rate: 6.7% (2008 est.)

Budget: revenues: $23.16 billion expenditures: $22.93 billion (2008 est.)

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: 4.5% (2008 est.)

Electricity - production: 14.13 billion kWh (2007 est.)

Electricity - production by source:

Electricity - consumption: 13.4 billion kWh (2006 est.)

Electricity - exports: 5.894 billion kWh (2007 est.)

Electricity - imports: 6.14 billion kWh (2007 est.)

Oil - production: 5 bbl/day (2007 est.)

Oil - consumption: 54,310 bbl/day (2006 est.)

Oil - exports: 4,535 bbl/day (2005)

Oil - imports: 59,110 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 4 million cu m (2006 est.)

Natural gas - consumption: 1.105 billion cu m (2006 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 1.073 billion cu m (2005)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

Agriculture - products: potatoes, hops, wheat, sugar beets, corn, grapes; cattle, sheep, poultry

Exports: $34.27 billion f.o.b. (2008 est.)

Exports - commodities: manufactured goods, machinery and transport equipment, chemicals, food

Exports - partners: Germany 18.7%, Italy 12.5%, Croatia 8%, Austria 7.5%, France 5.9%, Russia 4.4% (2007)

Imports: $38.12 billion f.o.b. (2008 est.)

Imports - commodities: machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food

Imports - partners: Germany 18.1%, Italy 17.1%, Austria 11.7%, France 5%, Croatia 4.6% (2007)

Debt - external: $40.42 billion (30 June 2007)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: euros (EUR) per US dollar - 0.6827 (2008 est.), 0.7345 (2007) note: Slovenia adopted the euro as its currency on 1 January 2007

Fiscal year: