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EconomyEconomy - overview
Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political and economic transitions in Central and Southeastern Europe. 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 - by 8%, and unemployment to rise. Although growth resumed in 2010, the unemployment rate continued to rise, approaching 11% in 2011. Gdp (purchasing power parity) World Ranking: 89
$58.63 billion (2011 est.)
$58.74 billion (2010 est.) $57.94 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$49.59 billion (2011 est.)
Gdp - real growth rate World Ranking: 198
-0.2% (2011 est.)
1.4% (2010 est.) -8% (2009 est.) Gdp - per capita (ppp) World Ranking: 47
$29,000 (2011 est.)
$29,100 (2010 est.) $28,700 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 2.5%
Industry 6.9% Services 90.5% (2011 est.) Labor force World Ranking: 145
934,700 (2011 est.)
Labor force - by occupation
Agriculture 2.2%
Industry 35% Services 62.8% (2009) Unemployment rate World Ranking: 124
11.8% (2011 est.)
10.7% (2010 est.) Population below poverty line
12.3% (2008)
Household income or consumption by percentage share
Lowest 10% 3.4%
Highest 10% 24.6% (2004) Distribution of family income - gini index World Ranking: 118
28.4 (2008)
23.8 (2004) Investment (gross fixed) World Ranking: 97
19.9% of GDP (2011 est.)
Budget
Revenues $21.3 billion
Expenditures $23.52 billion (2011 est.) Taxes and other revenues World Ranking: 37
42.9% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 147
-4.5% of GDP (2011 est.)
Public debt World Ranking: 76
42% of GDP (2011 est.)
33.6% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 19
1.8% (2011 est.)
1.8% (2010 est.) Central bank discount rate World Ranking: 129
1.75% (31 December 2011)
1.75% (31 December 2010) 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 World Ranking: 146
5.9% (31 December 2011 est.)
5.681% (31 December 2010 est.) Stock of narrow money World Ranking: 66
$16.03 billion (31 December 2011 est.) $11.28 billion (31 December 2010 est.) Note See entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders Stock of broad money World Ranking: 78
$27.52 billion (31 December 2011 est.) $25.57 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 63
$55.32 billion (31 December 2011 est.) $50.74 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 74
$6.326 billion (31 December 2011) $9.428 billion (31 December 2010) $11.77 billion (31 December 2009) 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 World Ranking: 94
3.2% (2011 est.)
Electricity - production World Ranking: 86
13 billion kWh (2009 est.)
Electricity - consumption World Ranking: 77
14.7 billion kWh (2009 est.)
Electricity - exports
9.197 billion kWh (2009 est.)
Electricity - imports
3.041 billion kWh (2009 est.)
Oil - production World Ranking: 124
5 bbl/day (2010 est.)
Oil - consumption World Ranking: 89
63,000 bbl/day (2010 est.)
Oil - exports World Ranking: 95
8,958 bbl/day (2009 est.)
Oil - imports World Ranking: 81
60,270 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 192
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 125
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 88
890 million cu m (2009 est.)
Natural gas - exports World Ranking: 179
0 cu m (2009 est.)
Natural gas - imports World Ranking: 62
890 million cu m (2009 est.)
Natural gas - proved reserves World Ranking: 128
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 87
-$234.1 million (2011 est.)
-$394.3 million (2010 est.) Exports World Ranking: 64
$28.77 billion (2011 est.)
$24.39 billion (2010 est.) Exports - commodities
Manufactured goods, machinery and transport equipment, chemicals, food Exports - partners
Germany 19.9%, Italy 11.9%, Austria 7.7%, Croatia 6.4%, France 5.7%, Hungary 4% (2011) Imports World Ranking: 66
$30.58 billion (2011 est.)
$25.99 billion (2010 est.) Imports - commodities
Machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food Imports - partners
Germany 16.4%, Italy 15.9%, Austria 10.2%, Croatia 4.5%, France 4.1%, China 4.1% (2011) Reserves of foreign exchange and gold World Ranking: 130
$991.3 million (31 December 2011 est.) $1.071 billion (31 December 2010 est.) Debt - external World Ranking: 55
$61.23 billion (30 June 2011)
$51.57 billion (30 June 2010) Stock of direct foreign investment - at home World Ranking: 74
$16.12 billion (31 December 2011 est.) $15.02 billion (31 December 2010 est.) Stock of direct foreign investment - abroad World Ranking: 54
$7.592 billion (31 December 2011 est.) $7.603 billion (31 December 2010 est.) Exchange rates
Euros (EUR) per US dollar -
0.7194 (2011 est.) 0.755 (2010 est.) 0.7198 (2009 est.) 0.6827 (2008 est.) 0.7345 (2007 est.) Fiscal year
Calendar year
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Slovenia (Ljubljana):
 
GPS points from Slovenia (Ljubljana)
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The Slovene lands were part of the Austro-Hungarian Empire until the latter's dissolution at the end of World War I. In 1918, the Slovenes joined the Serbs and Croats in forming a new multinational state, which was named Yugoslavia in 1929. After World War II, Slovenia became a republic of the renewed Yugoslavia, which though Communist, distanced itself from Moscow's rule. Dissatisfied with the exercise of power by the majority Serbs, the Slovenes succeeded in establishing their independence in 1991 after a short 10-day war. Historical ties to Western Europe, a strong economy, and a stable democracy have assisted in Slovenia's transformation to a modern state. Slovenia acceded to both NATO and the EU in the spring of 2004; it joined the eurozone in 2007.