Slovenian Economy
Economy - overview: With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe, despite having suffered a protracted recession in 2008-2009 in the wake of the global financial crisis. 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 transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Export-led growth fueled by demand in larger European markets pushed GDP growth to 2.6% in 2014, while stubbornly-high unemployment fell slightly to 13%. PM CERAR’s government took office in September 2014, pledging to press ahead with commitments to privatize a select group of state-run companies, rationalize public spending, and further stabilize the banking sector.
GDP (purchasing power parity): $61.13 billion (2014 est.)
GDP (official exchange rate): $49.51 billion (2014 est.)
GDP - real growth rate: 2.6% (2014 est.)
GDP - per capita (PPP): $29,700 (2014 est.)
GDP - composition by sector: agriculture: 2.1%
industry: 28.4%
services: 69.5% (2014 est.)
Labor force: 913,500 (2014 est.)
Labor force - by occupation: agriculture: 2.2%
industry: 35%
services: 62.8% (2009)
Unemployment rate: 9.8% (2014 est.)
Household income or consumption by percentage share: lowest 10%: 3.9%
highest 10%: 19.8% (2011)
Investment (gross fixed): 23.7% of GDP (2009 est.)
Budget: revenues: $20.03 billion
expenditures: $22.03 billion (2014 est.)
Public debt: 59.8% of GDP (2014 est.)
Inflation rate (consumer prices): 0.2% (2014 est.)
Central bank discount rate: 0.75% (31 December 2013)
Commercial bank prime lending rate: 5.2% (31 December 2014 est.)
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: 2.8% (2014 est.)
Electricity - production: 14.76 billion kWh (2012 est.)
Electricity - consumption: 12.66 billion kWh (2012 est.)
Electricity - exports: 8.684 billion kWh (2013 est.)
Electricity - imports: 7.522 billion kWh (2013 est.)
Oil - production: 305 bbl/day (2013 est.)
Oil - consumption: 61,000 bbl/day (2008 est.)
Oil - exports: 0 bbl/day (2012 est.)
Oil - imports: 0 bbl/day (2010 est.)
Oil - proved reserves: 0 bbl (1 January 2014 est.)
Natural gas - production: 3 million cu m (2013 est.)
Natural gas - consumption: 850 million cu m (2013 est.)
Natural gas - exports: 0 cu m (2013 est.)
Natural gas - imports: 847 million cu m (2013 est.)
Natural gas - proved reserves: 0 cu m (1 January 2014 est.)
Current account balance: $2.858 billion (2014 est.)
Exports: $30.47 billion (2014 est.)
Exports - commodities: manufactured goods, machinery and transport equipment, chemicals, food
Exports - partners: Germany 19%, Italy 11.2%, Austria 8.7%, Croatia 6.6%, Hungary 4.4%, France 4.4%, Russia 4.1%, Slovakia 4.1% (2014)
Imports: $29.37 billion (2014 est.)
Imports - commodities: machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Imports - partners: Germany 16.2%, Italy 14.4%, Austria 10.3%, South Korea 4.6%, China 4.4%, Croatia 4.3%, Hungary 4.1% (2014)
Reserves of foreign exchange and gold: $921 million (31 December 2014 est.)
Debt - external: $52.53 billion (31 December 2013 est.)
Stock of direct foreign investment - at home: $17.5 billion (31 December 2014 est.)
Stock of direct foreign investment - abroad: $9.585 billion (31 December 2014 est.)
Exchange rates: euros (EUR) per US dollar - 0.7489 (2014 est.), 0.7634 (2013 est.), 0.78 (2012 est.), 0.7185 (2011 est.), 0.755 (2010 est.)
economic climate  
Background: Slovenia is among the most successful of the countries in transition from socialism to a market economy. Slovenia joined the European Union in May 2004.
Export opportunities:  
Update: This page was last updated on 10 November 2015
Sources: 1. CIA, The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html
2. http://www.austrade.gov.au
3. DIBNC Experts Team