Slovenia Economy
Is Slovenia a wealthy country?
Slovenia is considered one of the wealthier and more advanced economies in Central and Eastern Europe. Its Gross Domestic Product (GDP) per capita is above the European Union average. The country has experienced moderate economic growth in recent years.
3. Trade and Exports: Slovenia's economy highly depends on foreign trade. The country exports various goods, including machinery, pharmaceuticals, electrical equipment, vehicles, and chemicals. Key trading partners include other European Union countries, especially Germany, Italy, and Austria.
4. Tourism: Tourism is a significant contributor to Slovenia's economy. The country is known for its picturesque landscapes, including the Julian Alps, lakes, and historic cities. Ljubljana, the capital, is also a popular tourist destination.
5. Banking and Finance: Slovenia has a well-developed banking sector. The country went through a banking crisis in the 2010s, leading to reforms and restructuring in the financial sector. The banking system has stabilized, and efforts have been made to enhance transparency and improve regulations.
6. Foreign Direct Investment (FDI): Slovenia has attracted foreign direct investment, particularly in the automotive, pharmaceutical, and information technology sectors. The government has implemented reforms to improve the business environment and encourage foreign investment.
7. Challenges: Despite its economic strengths, Slovenia faces challenges, including an aging population, which can impact labor market dynamics and public finances. Structural reforms have been introduced to address these challenges and enhance competitiveness.
8. Eurozone Member: Slovenia adopted the euro (EUR) as its official currency in 2007 and is a member of the Eurozone. This provides stability for trade and financial transactions with other Eurozone countries.
9. Innovation and Technology: Slovenia has been promoting innovation and technology. It has a growing tech sector, and initiatives are underway to support research and development activities.
10. Fiscal Policy: Slovenia has pursued prudent fiscal policies, but managing public finances remains important. The government has worked on reducing the budget deficit and public debt.
Slovenia Economy Data
What is the GDP of Slovenia?
| Currency Name and Code | Euro (EUR) |
| GDP - Gross Domestic Product (PPP) | $76,750,000,000 (USD) |
| GDP - official exchange rate | $42,740,000,000 (USD) |
| GDP - real growth rate | 2.3% |
| GDP Per Capita | $30,900.00 (USD) |
| GDP by Sector- agriculture | 2.2% |
| GDP by Sector- Industry | 33.4% |
| GDP by Sector- services | 64.4% |
| GDP - composition, by end use |
household consumption: 53.6% government consumption: 18.8% investment in fixed capital: 20.2% investment in inventories: 0.5% exports of goods and services: 82.6% imports of goods and services: -75.7% |
| Population Below Poverty Line | 12.3% |
| Inflation Rate | 2.1% |
| Labor Force | 930,000 |
| Labor Force By Occupation- agriculture | 2.2% |
| Labor Force By Occupation- industry | 35% |
| Labor Force By Occupation- services | 62.8% |
| Unemployment Rate | 10.6% |
| Fiscal Year | calendar year |
| Annual Budget | $22,560,000,000 (USD) |
| Budget Surplus or Deficit - percent of GDP | -4.4% |
| Public Debt (% of GDP) | 29.9% |
| Taxes and other revenues - percent of GDP | 41.8% |
| Major Industries | ferrous metallurgy and aluminum products, lead and zinc smelting, electronics (including military electronics), trucks, electric power equipment, wood products, textiles, chemicals, machine tools |
| Industrial Growth Rate | 1% |
| Agriculture Products | potatoes, hops, wheat, sugar beets, corn, grapes; cattle, sheep, poultry |
| Exchange Rate per US Dollar | euro (EUR) |
| Commercial Bank Prime Lending Rate | 5.7% |