Is Slovenia a rich country?
With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe, despite having suffered a protracted recession in the 2008-09 period in the wake of the global financial crisis. Slovenia became the first 2004 EU entrant to adopt the euro (on 1 January 2007) and has experienced a stable political and economic transition.
In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. From 2014 to 2016, export-led growth, fueled by demand in larger European markets, pushed annual GDP growth above 2.3%. Growth reached 5.0% in 2017 and is projected to near or reach 5% in 2018. What used to be stubbornly high unemployment fell below 5.5% in early 2018, driven by strong exports and increasing consumption that boosted labor demand. Continued fiscal consolidation through increased tax collection and social security contributions will likely result in a balanced government budget in 2019.
Prime Minister CERAR’s government took office in September 2014, pledging to press ahead with commitments to privatize a select group of state-run companies, rationalize public spending, and further stabilize the banking sector. Efforts to privatize Slovenia’s largely state-owned banking sector have largely stalled, however, amid concerns about an ongoing dispute over Yugoslav-era foreign currency deposits.
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%|
|Labor Force By Occupation- agriculture||2.2%|
|Labor Force By Occupation- industry||35%|
|Labor Force By Occupation- services||62.8%|
|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%|