Slovenian Economy

By: EconomyWatch   Date: 29 June 2010

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Slovenia is a developed and prosperous country with a GDP per capita much higher than peer countries in Central Europe. GDP per capita of Slovenia is $28,000 (2007). The country is a member state of the European Union and has the euro as its currency.

Slovenia is regarded as one of the model countries in Europe. It's economic success and stability is complemented by an educated workforce and superb physical infrastructure. Slovenia became the first nation to change to donor partner from borrower status at the World Bank in 2004. The country joined Eurozone on January 1, 2007. The euro came into circulation from that date.

Slovenia enjoyed a GDP real growth rate of 6.1% in 2007. GDP purchasing power parity was $56.19 billion. Services contribute to GDP the most: 63.5% (2007). Industry (34.4%) and agriculture (2.1%) fill up the rest.

Slovenia's labor force consists of 925,000 persons (2007). Majority of the country's employable population work in services (61.5%), followed by industry (36%) and agriculture (2.5%). Unemployment stands at 7.7%. Inflation rate is 6% (2007).

Slovenia manufactures products like automobiles, wood products, machine tools, chemicals, textiles, electronics, metallurgical products, and zinc and lead smelting. Industrial production growth rate was 9.5% (2007). Germany remains the biggest export partner with importing 18.8% of total Slovenian manufactured goods. Italy (12.5%) and Croatia (8%) follow close behind.

Slovenia imports transport and machinery, lubricants, food, fuels and chemicals from Germany (18.1%) . Italy (17.1%) and Austria (11.7%) follow close behind.

 

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