Economy - overview Today, Slovenia exhibits the highest per capita GDP of all the transition economies of the region, fairly moderate inflation, and a comfortable level of international reserves. However, GDP has posted slower growth since reaching a zenith of 5.5% in 1994. Growth declined to 3.5% in 1995 and 3.2% in 1996 and in 1997. Exports in 1997 benefited from economic recovery abroad - especially of Slovenia's main trading partners of the EU, which take 70% of Slovene exports. This export-led trend is predicted to continue, with an expected GDP growth rate of 3.8% for 1998. Slovenia received an invitation in 1997 to begin accession negotiations with the EU - a further reflection of Slovenia's sound economic footing. Slovenia must press on with privatization, enterprise restructuring, institution reform, and liberalization of financial markets, thereby creating conditions conducive to foreign investment, and maintaining a stable tolar.

GDP purchasing power parity - $19.5 billion (1997 est.)

GDP - real growth rate 3.25% (1997 est.)

GDP - per capita purchasing power parity - $10,000 (1997 est.)

GDP - composition by sector
agriculture: 5%
industry: 33%
services: 62% (1996)

Inflation rate - consumer price index 9.7% (1996)

Labor force
total: 857,400
by occupation: services 62%, industry 36%, agriculture 2% (1995)

Unemployment rate 7.1% (1997 est.)

Budget
revenues: $8.48 billion
expenditures: $8.53 billion, including capital expenditures of $455 million (1996 est.)

Industries ferrous metallurgy and rolling mill products, aluminum reduction and rolled products, lead and zinc smelting, electronics (including military electronics), trucks, electric power equipment, wood products, textiles, chemicals, machine tools

Industrial production growth rate 0.8% (1996)

Electricity - capacity 2.524 million kW (1995)

Electricity - production 11.615 billion kWh (1995)

Electricity - consumption per capita 5,759 kWh (1995)

Agriculture - products potatoes, hops, wheat, sugar beets, corn, grapes; cattle, sheep, poultry

Exports
total value: $8.3 billion (f.o.b., 1996)
commodities: manufactured goods 50.7%, machinery and transport equipment 31.4%, chemicals 10.5%, food 3.8% (1995)
partners: Germany 31%, former Yugoslavia 16.5%, Italy 13%, Croatia 10%, France 7%, Austria 7%, US 5% (1996)

Imports
total value: $9.5 billion (f.o.b., 1996)
commodities: machinery and transport equipment 33.8%, manufactured goods 30.4%, chemicals 12.1%, fuels and lubricants 6.6%, food 8.4% (1995)
partners: Germany 22%, Italy 17%, France 10%, Austria 10%, Croatia 6%, US 3% (1996)

Debt - external $4.5 billion (1996 est.)

Economic aid
recipient: ODA, $5 million (1993)

Currency 1 tolar (SlT) = 100 stotins

Exchange rates tolars (SlT) per US$1 - 171.30 (January 1998), 159.69 (1997), 135.36 (1996), 118.52 (1995), 128.81 (1994), 113.24 (1993)

Fiscal year calendar year

NOTE: The information regarding Slovenia on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovenia Economy 1998 information contained here. All suggestions for corrections of any errors about Slovenia Economy 1998 should be addressed to the CIA.