SLOVENIA
The most developed country of the former Eastern block
Total area: 20,273 sq km (slightly smaller than New Jersey)
Population: 2 million
Government type: Parliamentary republic
Administrative division: 16 administrative regions (“voivodships”)
Capital + other major cities: Ljubljana (297,000) + Maribor (110,000)
Currency: Euro (since 1 January 2007)
Languages: Slovene (in regions with Hungarian and Italian minorities, also Hungarian and Italian are official languages)
Ethnicity: Slovene 83.1%, Serb 2%, Croat 1.8%, Bosnian 1.1% and other or unspecified 12% (2002 census)
Religion: Catholic 57.8%, Muslim 2.4%, Orthodox 2.3%, other Christian 0.9%, unaffiliated 3.5%, other or unspecified 23%, none 10.1% (2002 census)
President: (Mr.) Danilo TURK (since 22 December 2007)
Prime Minister: (Mr.) Janez JANSA (since 28 January 2012)
Date of EU accession: 1 May 2004 |
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MACROECONOMIC OVERVIEW
Since gaining independence from former Yugoslavia in 1991, Slovenia has emerged as the most developed country of the former Eastern European block. Between 1995 and 2007, its economic growth thrived with an average annual rate of 4%, peaking in 2007 (6.1%) when Slovenia’s GDP per capita reached 88% of the average EU level.
In 2009, the country had to weather an 8% decline in its GDP. After a modest 1.4% increase in 2010, the GDP slightly declined again in 2011.
Slovenia was also the first new EU member to adopt the Euro (on 1 January 2007).
Selected economic indicators, Slovenia, 2005 – 2012
| |
|
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012* |
| GDP |
|
|
|
|
|
|
|
|
|
| Real GDP growth |
% |
4.0 |
5.8 |
6.9 |
3.6 |
-8.0 |
1.4 |
0.2 |
-0.1 |
| GDP at current prices |
€ bn |
28.73 |
31.05 |
34.56 |
37.28 |
35.31 |
35.41 |
35.64 |
36.40 |
| Foreign trade |
|
|
|
|
|
|
|
|
|
| Exports |
€ bn |
17.86 |
20.66 |
24.04 |
25.03 |
20.62 |
23.17 |
25.76 |
27.39 |
| Imports |
€ bn |
17.98 |
20.82 |
24.63 |
26.23 |
20.11 |
22.97 |
25.39 |
26.87 |
| Balance |
€ bn |
-0.12 |
-0.16 |
-0.57 |
-1.20 |
0.51 |
0.20 |
0.37 |
0.52 |
| Prices |
|
|
|
|
|
|
|
|
|
| CPI - average inflation rate |
% y-o-y |
2.5 |
2.5 |
3.8 |
5.5 |
0.9 |
2.1 |
2.1 |
|
| Employment |
|
|
|
|
|
|
|
|
|
| Registered unemployment |
% |
6.5 |
6.0 |
4.9 |
4.4 |
5.9 |
7.3 |
8.2 |
|
| Average monthly gross wage |
€ |
1,157 |
1,212 |
1,284 |
1,391 |
|
|
|
|
| Exchange rates |
|
|
|
|
|
|
|
|
|
| SIT/USD average |
|
192.7 |
191.0 |
- |
- |
|
|
|
|
| SIT/EUR average - fixed |
|
239.6 |
239.6 |
- |
- |
|
|
|
|
Source: Eurostat 2012; * 2012 data - forecast
EXPORT & IMPORT - KEY SECTORS
Approximately 79% of total imports and 71% of total exports are EU-related.
Germany, Italy, Austria, France, Russia and other ex-Yugoslavian republics (esp. Croatia) represent the most important trading partners combining for 90% of Slovenia’s exports and imports.
The key import commodities include motor vehicles (13.2%), iron and steel (6.3), oil products (6.3%), and EE/electronics (5.6%).
Motor vehicles are also the leading exports category (15.9%) followed by EE/electronics (9.6 %) and medical products (7.2%).
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