About Us Contact Us Site Map

Economy

Dynamic and wealthy economy

Slovenia is the wealthiest of the ex-Yugoslav countries, and the most advanced of the countries that joined the EU in 2004. When it was part of Yugoslavia, Slovenia only accounted for around a thirteenth of the total population but contributed around a fifth of the GDP and a third of its exports. When it became independent Slovenia worked towards integrating with the west and promoting itself internationally. As a result it now has a number of free trade agreements in place, and is a member of many major international financial organisations.

Recent economic history

Slovenia’s economy maintained a moderate level of growth from 2001 to 2005, although Europe’s performance overall was sluggish. Slovenia’s government has taken action to reduce employment, and the structural reforms it has made mean that the country’s business climate is now more conducive to foreign participation. It was the first of the transition countries to change its status at the World Bank from borrower status to donor partner, which it did in March 2004.

Accelerating economic growth

The rate of Slovenia’s economic growth has accelerated. Its GDP increased by 5.2% in 2006, compared to a 4% rise in 2005. In the second quarter of 2007, GDP rose by 5.9% against the same period of 2006. Foreign direct investment (FDI) recorded during 2005 was $6.89 billion (approximately €4.97 billion, total stock estimate).

Falling unemployment

The rate of unemployment is falling and is currently 5.4%. In March 2007 interest rates were at a stable 2.4%, which is around the same level they have been since May 2005 after having fallen from as high as 8.6% in December 1999. Slovenia’s fiscal deficit is also decreasing – falling from 4.3% in 2001 to 1.4% in 2005 – and the annual rate of inflation was recorded at 2.1% in February 2007.

Major industries

Foreign trade is an important contributor to Slovenia’s economy, and its volume of imports and exports each year comes to over 100% of the country’s GDP. Slovenia’s trade mostly takes place within the EU, and its main trading partners are Germany, Italy, Austria and France. The biggest provider of jobs is manufacturing, though the greatest contributor to GDP is the service sector.

Related items

Documents and Reports

	Slovenia property investment report (427Kb)
Documents and Reports

Other related pages

Bookmark with:	What are these?
DeliciousDiggredditFacebookStumbleUpon