Slovenia



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Slovenia Economy 2008


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 (purchasing power parity): $56.19 billion (2007 est.)
GDP (official exchange rate): $46.08 billion (2007 est.)
GDP - real growth rate: 6.1% (2007 est.)
GDP - per capita (PPP): $28,000 (2007 est.)
GDP - composition by sector: agriculture: 2.1% industry: 34.4% services: 63.5% (2007 est.)
Labor force: 925,000 (2007 est.)
Labor force - by occupation: agriculture: 2.5% industry: 36% services: 61.5% (2007)
Unemployment rate: 7.7% (2007 est.)
Household income or consumption by percentage share: lowest 10%: 3.6% highest 10%: 21.4% (1998)
Distribution of family income - Gini index: 24 (2005)
Investment (gross fixed): 28.7% of GDP (2007 est.)
Budget: revenues: $19.17 billion expenditures: $19.04 billion (2007 est.)
Public debt: 23.6% of GDP (2007 est.)
Inflation rate (consumer prices): 3.6% (2007 est.)
Central bank discount rate: NA (31 December 2007)
Commercial bank prime lending rate: 6.82% (31 December 2007)
Stock of money: $9.347 billion note: see entry for the European Union for money supply in the Euro Area; the European Central Bank (ECB) controls monetary policy for the 15 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 (31 December 2006)
Stock of quasi money: $12.69 billion (31 December 2006)
Stock of domestic credit: NA (31 December 2007)
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: 9.5% (2007 est.)
Electricity - production: 14.13 billion kWh (2007 est.)
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.)
Current account balance: -$2.181 billion (2007 est.)
Exports: $27.06 billion f.o.b. (2007 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: $29.39 billion f.o.b. (2007 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)
Reserves of foreign exchange and gold: $5.682 billion (30 September 2007 est.)
Debt - external: $40.42 billion (30 June 2007)
Stock of direct foreign investment - at home: $10.41 billion (2007 est.)
Stock of direct foreign investment - abroad: $6.127 billion (2007 est.)
Market value of publicly traded shares: $15.18 billion (2006)
Currency (code): euro (EUR) note: on 1 January 2007, the euro became Slovenia's currency; both the tolar and the euro were in circulation from 1 January until 15 January 2007
Exchange rates: euros (EUR) per US dollar - 0.7345 (2007), tolars per US dollar - 190.85 (2006), 192.71 (2005), 192.38 (2004), 207.11 (2003) note: Slovenia adopted the euro as its currency on 1 January 2007

NOTE: The economy information regarding Slovenia on this page is re-published from the 2008 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovenia Economy 2008 information contained here. All suggestions for corrections of any errors about Slovenia Economy 2008 should be addressed to the CIA.