Slovenia Economy - 2005

Economy - overview:
Slovenia, with its historical ties to Western Europe, enjoys a GDP per capita substantially higher than that of the other transitioning economies of Central Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. Privatization of the economy proceeded at an accelerated pace in 2002-04. Despite lackluster performance in Europe in 2001-04, Slovenia maintained moderate growth. Structural reforms to improve the business environment have allowed for greater foreign participation in Slovenia's economy and have helped to lower unemployment. Further measures to curb inflation are still needed. Corruption and the high degree of coordination between government, business, and central bank policy were issues of concern in the run-up to Slovenia's 1 May 2004 accession to the European Union. In mid-2004 Slovenia agreed to adopt the euro by 2007 and, therefore, must keep its debt levels, budget deficits, interest rates, and inflation levels within the EU's Maastrict criteria.

GDP:
purchasing power parity - $39.41 billion (2004 est.)

GDP - real growth rate:
3.9% (2004 est.)

GDP - per capita:
purchasing power parity - $19,600 (2004 est.)

GDP - composition by sector:
agriculture: 3%
industry: 36%
services: 60% (2004 est.)

Labor force:
870,000 (2004 est.)

Labor force - by occupation:
agriculture 6%, industry 40%, services 55% (2002)

Unemployment rate:
6.4% (2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 3.9%
highest 10%: 23% (1998)

Distribution of family income - Gini index:
28.4 (1998)

Inflation rate (consumer prices):
3.3% (2004 est.)

Investment (gross fixed):
24.9% of GDP (2004 est.)

Budget:
revenues: $13.36 billion
expenditures: $13.99 billion, including capital expenditures of NA (2004 est.)

Public debt:
31.5% of GDP (2004 est.)

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

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 production growth rate:
3.9% (2004 est.)

Electricity - production:
12.49 billion kWh (2003)

Electricity - consumption:
11.8 billion kWh (2003)

Electricity - exports:
7.448 billion kWh (2002)

Electricity - imports:
5.194 billion kWh (2002)

Oil - production:
20 bbl/day (2001 est.)

Oil - consumption:
53,300 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

Natural gas - production:
0 cu m (2001 est.)

Natural gas - consumption:
1.04 billion cu m (2001 est.)

Natural gas - exports:
0 cu m (2001 est.)

Natural gas - imports:
1.04 billion cu m (2001 est.)

Current account balance:
$-51.64 million (2004 est.)

Exports:
$14.97 billion f.o.b. (2004 est.)

Exports - commodities:
manufactured goods, machinery and transport equipment, chemicals, food

Exports - partners:
Germany 18.4%, Austria 11.4%, Italy 11.1%, Croatia 7.6%, France 7.5%, Bosnia and Herzegovina 4.6% (2004)

Imports:
$16.07 billion f.o.b. (2004 est.)

Imports - commodities:
machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food

Imports - partners:
Germany 20.1%, Italy 17%, Austria 14.1%, France 10.4% (2004)

Reserves of foreign exchange and gold:
$8.493 billion (2004 est.)

Debt - external:
$14.65 billion (2004 est.)

Economic aid - recipient:
ODA, $62 million (2000 est.)

Currency (code):
tolar (SIT)

Exchange rates:
tolars per US dollar - 192.38 (2004), 207.11 (2003), 240.25 (2002), 242.75 (2001), 222.66 (2000)