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Slovenia Economy Profile 2018

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Economy - overviewWith 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 the 2008-09 period in the wake of the global financial crisis. Slovenia became the first 2004 EU 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. From 2014 to 2017, export-led growth, fueled by demand in larger European markets pushed GDP growth to about 3% per year, while what had been stubbornly high unemployment fell below 7%.

Prime Minister 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)$70.36 billion (2017 est.)
$67.66 billion (2016 est.)
$65.59 billion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$48.08 billion (2016 est.)
GDP - real growth rate4% (2017 est.)
3.1% (2016 est.)
2.3% (2015 est.)
GDP - per capita (PPP)$34,100 (2017 est.)
$32,800 (2016 est.)
$31,800 (2015 est.)
note: data are in 2017 dollars
Gross national saving24.5% of GDP (2017 est.)
23.9% of GDP (2016 est.)
23.7% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 52%
government consumption: 18.8%
investment in fixed capital: 18.9%
investment in inventories: 1.1%
exports of goods and services: 82.3%
imports of goods and services: -73.2% (2017 est.)
GDP - composition by sectoragriculture: 2.3%
industry: 32%
services: 65.8% (2017 est.)
Population below poverty line14.3% (2015 est.)
Labor force931,200 (2017 est.)
Labor force - by occupationagriculture: 3.7%
industry: 31.7%
services: 64.6% (2015 est.)
Unemployment rate6.8% (2017 est.)
8% (2016 est.)
Unemployment, youth ages 15-24total: 16.3%
male: 17.6%
female: 14.6% (2015 est.)
Household income or consumption by percentage sharelowest 10%: 3.8%
highest 10%: 20.2% (2015)
Distribution of family income - Gini index24.5 (2015)
25 (2014)
Budgetrevenues: $20.2 billion
expenditures: $20.97 billion (2017 est.)
Taxes and other revenues42% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-1.6% of GDP (2017 est.)
Public debt78.6% of GDP (2017 est.)
79.7% of GDP (2016 est.)
note: defined by the EU's Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities: currency and deposits, securities other than shares excluding financial derivatives, and loans; general government sector comprises the subsectors: central government, state government, local government, and social security funds
Inflation rate (consumer prices)1.6% (2017 est.)
-0.1% (2016 est.)
Central bank discount rate0% (16 March 2016)
0.05% (4 Sept 2014)
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 rate2.9% (31 December 2017 est.)
2.81% (31 December 2016 est.)
Stock of narrow money$20.79 billion (31 December 2017 est.)
$16.54 billion (31 December 2016 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 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$27.88 billion (31 December 2017 est.)
$24.3 billion (31 December 2016 est.)
Stock of domestic credit$33.33 billion (31 December 2017 est.)
$30.23 billion (31 December 2016 est.)
Market value of publicly traded shares$5.6 billion (31 December 2016 est.)
$5.94 billion (31 December 2015 est.)
$6.2 billion (31 December 2014 est.)
Agriculture - productshops, wheat, coffee, corn, apples, pears; cattle, sheep, poultry
Industriesferrous 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 rate2.5% (2017 est.)
Current Account Balance$2.415 billion (2017 est.)
$2.332 billion (2016 est.)
Exports$30.23 billion (2017 est.)
$27.65 billion (2016 est.)
Exports - commoditiesmanufactured goods, machinery and transport equipment, chemicals, food
Exports - partnersGermany 19.3%, Italy 10.4%, Austria 7.5%, Croatia 7.3%, Hungary 4.4%, France 4.1% (2016)
Imports$28.7 billion (2017 est.)
$25.95 billion (2016 est.)
Imports - commoditiesmachinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Imports - partnersGermany 16.8%, Italy 13.5%, Austria 9.9%, Croatia 5.5%, China 4.8%, Turkey 4.4% (2016)
Reserves of foreign exchange and gold$911.2 million (31 December 2017 est.)
$743.2 million (31 December 2016 est.)
Debt - external$46.3 billion (31 January 2017 est.)
$48.2 billion (31 January 2016 est.)
Stock of direct foreign investment - at home$16 billion (31 December 2017 est.)
$14.83 billion (31 December 2016 est.)
Stock of direct foreign investment - abroad$8.137 billion (31 December 2017 est.)
$7.837 billion (31 December 2016 est.)
Exchange rateseuros (EUR) per US dollar -
0.906 (2017 est.)
0.9214 (2016 est.)
0.9214 (2015 est.)
0.885 (2014 est.)
0.7634 (2013 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on January 20, 2018

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