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Slovenia:
Economy

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Economy - overview
Definition
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)
Definition - World rank and map
$54.67 billion (2007 est.)
GDP (official exchange rate)
Definition
$46.08 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
6.1% (2007 est.)
GDP - per capita
Definition - World rank and map
$27,200 (2007 est.)
GDP - composition by sector
Definition
agriculture: 2%
industry: 34.4%
services: 63.5% (2007 est.)
Labor force
Definition
925,000 (2007 est.)
Labor force - by occupation
Definition
agriculture: 2.5%
industry: 36%
services: 61.5% (2007)
Unemployment rate
Definition - World rank and map
4.8% (2007 est.)
Population below poverty line
Definition
12.9% (2004)
Household income or consumption by percentage share
Definition
lowest 10%: 3.6%
highest 10%: 21.4% (1998)
Distribution of family income - Gini index
Definition - World rank and map
24 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
3.6% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
28.7% of GDP (2007 est.)
Budget
Definition
revenues: $19.17 billion
expenditures: $19.04 billion (2007 est.)
Public debt
Definition - World rank and map
24.1% of GDP (2007 est.)
Agriculture - products
Definition
potatoes, hops, wheat, sugar beets, corn, grapes; cattle, sheep, poultry
Industries
Definition
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
Definition - World rank and map
10.1% (2007 est.)
Electricity - production
Definition - World rank and map
14.9 billion kWh (2006)
Electricity - consumption
Definition - World rank and map
13.71 billion kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
6,828.7 kWh (2006)
Electricity - exports
Definition
4.8 billion kWh (2006)
Electricity - imports
Definition
4.07 billion kWh (2006)
Oil - production
Definition - World rank and map
5 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
54,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
26.9 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
2,276 bbl/day (2004)
Oil - imports
Definition - World rank and map
55,880 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
4.795 million cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
1.078 billion cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
537 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
1.073 billion cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$2.222 billion (2007 est.)
Exports
Definition - World rank and map
$27.01 billion f.o.b. (2007 est.)
Exports - commodities
Definition
manufactured goods, machinery and transport equipment, chemicals, food
Exports - partners
Definition
Germany 18.8%, Italy 12.5%, Croatia 8%, Austria 7.4%, France 5.9%, Russia 4.4% (2006)
Imports
Definition - World rank and map
$29.28 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Imports - partners
Definition
Germany 18.1%, Italy 17.1%, Austria 11.7%, France 5%, Croatia 4.6% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$5.643 billion (30 September 2007 est.)
Debt - external
Definition - World rank and map
$40.42 billion (30 June 2007)
Stock of direct foreign investment - at home
Definition
$8.19 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$4.903 billion (2007 est.)
Market value of publicly traded shares
Definition
$15.18 billion (2006)
Economic aid - recipient
Definition
ODA, $484 million (2004-06)
Currency (code)
Definition
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
Definition
euros 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
Fiscal year
Definition
calendar year


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