Slovenia

Click here for more Europe Links and Resources

FITA helps you find
service providers for:

Market Research

Economic and political outline

Economic indicators | Foreign Trade in figures | Sources of general economic information | Political outline

Economic indicators

Due to its macroeconomic stability, favorable foreign-debt position and successful accession to the EU (joined EU in May 2004) and euro currency (as of 1st January 2007), Slovenia has been showing good economic results for many years now. The GDP growth was 5.9% in 2006 and 6.8% in 2007. Slovenia benefits from a well-educated and productive work force. Rise in exports has led to increase in domestic consumption.

Keeping labor costs in line with productivity is a key challenge for Slovenia in order to remain competitive globally. Inflation has jumped to almost double the EU-average in late 2007 and early 2008 (estimated at 6.2% in 2008) but is changing to deflation in the last months of 2008 and unemployment is still quite low (around 6.5%).

Main indicators	2006	2007	2008	2009	2010
GDP (billions USD)	38.94	47.25	54.64	48.74	49.68e
GDP (constant prices, annual % change)	5.9	6.8	3.5e	-2.7	1.4e
GDP per capita (USD)	19,368	23,511e	27,149	24,181e	24,613
General government balance (in % of GDP)	-0.8	0.3	-0.3	-4.2	-3.7e
Inflation rate (%)	2.5	3.6	5.7e	0.5	1.5e
Unemployment rate (% of the labor force)	6.0	4.9	4.5	6.2	6.1
Current Account (billions USD)	-0.97	-1.99	-3.21e	-1.94e	-2.47
Current Account (in % of GDP)	-2.5	-4.2	-5.9e	-4.0e	-5.0

Source: IMF - World Economic Outlook Database

Note: (e) Estimated data

Main sectors of industry

Slovenia is increasingly becoming a service economy. The service sector created 63.4% of added value in 2005, followed by industrial sector (28.2%). Agriculture declined considerably to a mere 2.5% of added value (compared to 4.2% in 1995). Knowledge-based services such as telecommunications, business and financial services were the fastest growing market services of the past decade - in 2005 they represented almost 16% of the added value of the Slovenian economy. Others quickly growing service industries are also retail and turism.

In the manufacturing sector, chemical (especially pharmaceutical manufacturing ), electrical equipment, machinery and transport industries have risen to 41% of added value in the manufacturing sector and represent some of its most prominent activities. Traditionally, strong have been also steel, electronics, textile and wood/furniture industry.

Breakdown of economic activity by sector	Agriculture	Industry	Services
Employment by sector (in % of total employment)	8.8	37.2	53.3
Value added (in % of GDP)	2.4	34.4	63.3
Value added (annual % change)	-11.0	8.1	6.8

- last available data.

Monetary indicators	2004	2005	2006	2007	2008
Euro (EUR) - Average annual exchange rate for 1 USD	0.81	0.80	0.80	0.73	0.68

Source: World Bank - World Development Indicators

Indicator of economic freedom

Score:: 62.9/100
Position:: moderately free
World Rank:: 68 out of 179
Regional Rank:: 30 out of 44

Distribution of Economic freedom in the world
Source: 2008 Index of Economic freedom, Heritage Foundation

Country risk

See the country risk analysis provided by Ducroire.

Foreign trade in figures

Slovenia is a founding member of the WTO. It is highly open to foreign trade especially with EU; about two-thirds of Slovenia's trade is with the EU. The share of foreign trade in country’s GDP is more than 130%. Its top three export partners are Germany, Italy and Croatia. Slovenia mainly exports vehicles, machinery, electric & electronic equipment, furniture & beddings, and pharmaceutical products. The top three import partners are: Germany, Italy and Austria. The country mainly imports are vehicles, machinery, mineral fuels & oils, and iron & steel.

Foreign trade indicators	2003	2004	2005	2006	2007
Imports of goods (millions USD)	13,539	17,322	19,404	22,856	29,432
Exports of goods (millions USD)	12,916	16,065	18,146	21,397	27,123
Imports of services (millions USD)	2,183	2,603	2,915	3,254	4,231
Exports of services (millions USD)	2,791	3,455	3,976	4,344	5,650
Imports of goods and services (annual % change)	6.7	13.3	6.6	12.2	15.7
Exports of goods and services (annual % change)	3.1	12.4	10.6	12.5	13.8
Imports of goods and services (in % of GDP)	54.2	59.3	62.6	67.1	71.5
Exports of goods and services (in % of GDP)	54.0	58.0	62.2	66.6	70.2
Trade Balance (millions USD)	-622	-1,258	-1,258	-1,458	-2,310
Trade Balance (including service) (millions USD)	-14	-406	-198	-368	-891
Foreign trade (in % of GDP)	108.2	117.3	124.9	133.8	141.6

Source: World Bank

Main partner countries

Main customers (% of exports)	2008
Germany	18.8%
Italy	12.1%
Croatia	8.6%
Austria	7.8%
France	6.5%
Russia	4.1%
Poland	3.5%
Bosnia and Herzegovina	3.2%
Hungary	3.1%
Czech Republic	2.5%
United Kingdom	2.4%
Slovakia	1.8%
Romania	1.8%
Netherlands	1.7%
United States	1.4%
Spain	1.4%
Ukraine	1.1%
Belgium	1.0%
Macedonia	0.9%
Denmark	0.9%
See more countries	46.2%

Main suppliers (% of imports)	2008
Germany	18.7%
Italy	18.1%
Austria	12.2%
France	5.1%
Hungary	3.8%
Croatia	3.6%
Netherlands	3.3%
Spain	2.6%
Czech Republic	2.4%
Belgium	2.1%
China	1.9%
United States	1.8%
Poland	1.8%
Russia	1.5%
South Korea	1.5%
United Kingdom	1.4%
Bosnia and Herzegovina	1.4%
Slovakia	1.3%
Greece	1.1%
Switzerland	0.9%
See more countries	42.1%

Source: Comtrade

Main products

Main exports (% of exports)	2008
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	14.7%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	13.4%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	10.6%
Pharmaceutical productsPharmaceutical products	7.8%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	4.7%
Iron and steelIron and steel	4.4%
Aluminium and articles thereofAluminium and articles thereof	3.8%
Plastics and articles thereofPlastics and articles thereof	3.5%
Articles of iron or steelArticles of iron or steel	3.0%
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	3.0%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	2.7%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	2.7%
Rubber and articles thereofRubber and articles thereof	2.5%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	2.0%
Tanning or dyeing extracts; tannins and their...Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter; paints and varnishes; putty and other mastics; inks	1.5%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	1.1%
Tools, implements, cutlery, spoons and forks, of...Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal	1.1%
Miscellaneous articles of base metalMiscellaneous articles of base metal	1.0%
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	0.9%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.9%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	0.8%
Man-made filamentsMan-made filaments	0.7%
Toys, games and sports requisites; parts and...Toys, games and sports requisites; parts and accessories thereof	0.7%
Printed books, newspapers, pictures and other...Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	0.7%
Glass and glasswareGlass and glassware	0.6%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	0.6%
Organic chemicalsOrganic chemicals	0.6%
Ships, boats and floating structuresShips, boats and floating structures	0.5%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	0.5%
Residues and waste from the food industries;...Residues and waste from the food industries; prepared animal fodder	0.5%
Miscellaneous chemical productsMiscellaneous chemical products	0.5%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	0.4%
Copper and articles thereofCopper and articles thereof	0.4%
Wadding, felt and nonwovens; special yarns; twine,...Wadding, felt and nonwovens; special yarns; twine, cordage, ropes and cables and articles thereof	0.4%
Oil seeds and oleaginous fruits; miscellaneous...Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder	0.4%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.4%
Beverages, spirits and vinegarBeverages, spirits and vinegar	0.4%
Railway or tramway locomotives, rolling-stock and...Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds	0.3%
Miscellaneous edible preparationsMiscellaneous edible preparations	0.3%
Soap, organic surface-active agents, washing...Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, 'dental waxes' and dental preparations with a basis of plaster	0.3%
Aircraft, spacecraft, and parts thereofAircraft, spacecraft, and parts thereof	0.3%
Preparations of meat, of fish or of crustaceans,...Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates	0.3%
Meat and edible meat offalMeat and edible meat offal	0.3%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.3%
Edible fruit and nuts; peel of citrus fruits or...Edible fruit and nuts; peel of citrus fruits or melons	0.3%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	0.2%
Articles of leather; saddlery and harness; travel...Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut)	0.2%
Live animalsLive animals	0.2%
Ceramic productsCeramic products	0.2%
CottonCotton	0.2%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.2%
Preparations of cereals, flour, starch or milk;...Preparations of cereals, flour, starch or milk; pastrycooks' products	0.1%
Man-made staple fibresMan-made staple fibres	0.1%
Zinc and articles thereofZinc and articles thereof	0.1%
See more products	48.8%

Main imports (% of imports)	2008
Mineral fuels, mineral oils and products of their...Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	12.8%
Vehicles other than railway or tramway...Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	12.4%
Nuclear reactors, boilers, machinery and...Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	12.2%
Electrical machinery and equipment and parts...Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	7.9%
Iron and steelIron and steel	6.1%
Plastics and articles thereofPlastics and articles thereof	4.5%
Articles of iron or steelArticles of iron or steel	2.8%
Aluminium and articles thereofAluminium and articles thereof	2.6%
Pharmaceutical productsPharmaceutical products	2.6%
Furniture; bedding, mattresses, mattress supports,...Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings	1.8%
Organic chemicalsOrganic chemicals	1.8%
Optical, photographic, cinematographic, measuring,...Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof	1.7%
Wood and articles of wood; wood charcoalWood and articles of wood; wood charcoal	1.7%
Rubber and articles thereofRubber and articles thereof	1.6%
Paper and paperboard; articles of paper pulp, of...Paper and paperboard; articles of paper pulp, of paper or of paperboard	1.5%
Inorganic chemicals; organic or inorganic...Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes	1.2%
Articles of apparel and clothing accessories, not...Articles of apparel and clothing accessories, not knitted or crocheted	1.0%
Articles of apparel and clothing accessories,...Articles of apparel and clothing accessories, knitted or crocheted	0.9%
Aircraft, spacecraft, and parts thereofAircraft, spacecraft, and parts thereof	0.9%
Miscellaneous chemical productsMiscellaneous chemical products	0.8%
Tools, implements, cutlery, spoons and forks, of...Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal	0.8%
Glass and glasswareGlass and glassware	0.8%
Tanning or dyeing extracts; tannins and their...Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter; paints and varnishes; putty and other mastics; inks	0.8%
Copper and articles thereofCopper and articles thereof	0.7%
Footwear, gaiters and the like; parts of such...Footwear, gaiters and the like; parts of such articles	0.7%
Residues and waste from the food industries;...Residues and waste from the food industries; prepared animal fodder	0.7%
Pulp of wood or of other fibrous cellulosic...Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard	0.7%
Essential oils and resinoids; perfumery, cosmetic...Essential oils and resinoids; perfumery, cosmetic or toilet preparations	0.7%
Edible fruit and nuts; peel of citrus fruits or...Edible fruit and nuts; peel of citrus fruits or melons	0.7%
Meat and edible meat offalMeat and edible meat offal	0.6%
Miscellaneous articles of base metalMiscellaneous articles of base metal	0.6%
Soap, organic surface-active agents, washing...Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, 'dental waxes' and dental preparations with a basis of plaster	0.6%
Miscellaneous edible preparationsMiscellaneous edible preparations	0.5%
Raw hides and skins (other than furskins) and...Raw hides and skins (other than furskins) and leather	0.5%
Articles of stone, plaster, cement, asbestos, mica...Articles of stone, plaster, cement, asbestos, mica or similar materials	0.5%
Toys, games and sports requisites; parts and...Toys, games and sports requisites; parts and accessories thereof	0.5%
Dairy produce; birds' eggs; natural honey; edible...Dairy produce; birds' eggs; natural honey; edible products of animal origin, not elsewhere specified or included	0.5%
Ceramic productsCeramic products	0.5%
Preparations of cereals, flour, starch or milk;...Preparations of cereals, flour, starch or milk; pastrycooks' products	0.4%
Beverages, spirits and vinegarBeverages, spirits and vinegar	0.4%
Edible vegetables and certain roots and tubersEdible vegetables and certain roots and tubers	0.4%
Man-made filamentsMan-made filaments	0.4%
Articles of leather; saddlery and harness; travel...Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut)	0.4%
Salt; sulphur; earths and stone; plastering...Salt; sulphur; earths and stone; plastering materials, lime and cement	0.4%
FertilizersFertilizers	0.3%
CerealsCereals	0.3%
Preparations of vegetables, fruit, nuts or other...Preparations of vegetables, fruit, nuts or other parts of plants	0.3%
Printed books, newspapers, pictures and other...Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	0.3%
Tobacco and manufactured tobacco substitutesTobacco and manufactured tobacco substitutes	0.3%
Ships, boats and floating structuresShips, boats and floating structures	0.3%
Animal or vegetable fats and oils and their...Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes	0.3%
Cocoa and cocoa preparationsCocoa and cocoa preparations	0.3%
Impregnated, coated, covered or laminated textile...Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use	0.3%
Natural or cultured pearls, precious or...Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin	0.3%
Ores, slag and ashOres, slag and ash	0.3%
Oil seeds and oleaginous fruits; miscellaneous...Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder	0.3%
Sugars and sugar confectionerySugars and sugar confectionery	0.3%
Other made-up textile articles; sets; worn...Other made-up textile articles; sets; worn clothing and worn textile articles; rags	0.2%
Nickel and articles thereofNickel and articles thereof	0.2%
Preparations of meat, of fish or of crustaceans,...Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates	0.2%
Wadding, felt and nonwovens; special yarns; twine,...Wadding, felt and nonwovens; special yarns; twine, cordage, ropes and cables and articles thereof	0.2%
Zinc and articles thereofZinc and articles thereof	0.2%
Live trees and other plants; bulbs, roots and the...Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage	0.2%
Miscellaneous manufactured articlesMiscellaneous manufactured articles	0.2%
Man-made staple fibresMan-made staple fibres	0.2%
Railway or tramway locomotives, rolling-stock and...Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds	0.2%
Products of the milling industry; malt; starches;...Products of the milling industry; malt; starches; inulin; wheat gluten	0.2%
Fish and crustaceans, molluscs and other aquatic...Fish and crustaceans, molluscs and other aquatic invertebrates	0.2%
Wool, fine or coarse animal hair; horsehair yarn...Wool, fine or coarse animal hair; horsehair yarn and woven fabric	0.2%
CottonCotton	0.2%
Albuminoidal substances; modified starches; glues;...Albuminoidal substances; modified starches; glues; enzymes	0.1%
Coffee, tea, maté and spicesCoffee, tea, maté and spices	0.1%
Other base metals; cermets; articles thereofOther base metals; cermets; articles thereof	0.1%
Lead and articles thereofLead and articles thereof	0.1%
See more products	48.8%

Source: Comtrade

See more products: More imports (Intracen Data)
More exports (Intracen Data)

Sources of general economic information

Ministries: Ministry of Economic Affairs
Ministry of Finance
Statistical Office: Statistical Office
Central Bank: Bank of Slovenia
Stock Exchange: Ljubljana Stock Exchange
Search Engines: Leading search engine including maps, news, images and other services (in local language only)
Slovenia web directory, search engine and country information
Economic portals: State Administration Portal on business issues

Political outline

Executive Power: The President is the head of the state and is elected by a popular vote for a five-year term. The role of the President is largely ceremonial. Following parliamentary elections, the leader of the majority party or the leader of a majority coalition is usually nominated to become Prime Minister by the President and elected by the parliament to serve a four-year term.

Prime Minister is the head of the government and enjoys the executive powers which include implementation of the law in the country and running the day-to-day affairs. The Council of Ministers (cabinet) is nominated by the Prime Minister and elected by the parliament.
Legislative Power: The legislature is bicameral in Slovenia. The parliament consists of:
National Assembly (the lower house) having 90 seats; out of which 88 are elected through proportional voting and 2 members elected by ethnic minorities to serve four-year terms,
and the National Council (the upper house, more like an advisory body) having 40 seats; with its members elected indirectly (members representing social, economic, professional, and local interests) to serve five-year terms. National Assembly is the most important power centre in the country. The executive branch of government is directly or indirectly dependent on the support of the National Assembly.
Main political parties: Slovenia has a multi-party system and generally no single party has a chance of gaining power alone. Thus parties work with each other to form coalition governments. The major parties in the country are:
- SD (Social Democrats) – a left-wing political party
- SDS (Slovenian Democratic Party) – a centre-right more urban party;
- Zares (New Politics) - a new political party established by some of the former LDS members
- LDS (Liberal Democracy of Slovenia ) – a centre-left liberal party;
- DeSUS (Democratic Party of Pensioners of Slovenia) – a party of retired persons;
- NSi (New Slovenia – Christian People's Party ) – a right-of-centre political party;
- SNS (Slovenian National Party) – known for its Xenophobia and Euroscepticism;
- SLS (Slovenian People's Party) – a centre-right more rural political party;
Current political leaders: President: Danilo TURK (since December 2007)
Prime Minister: Borut PAHOR (since November 2008) – SD, heading a coalition with LDS, Zares and DeSUS
Next election dates: Presidential: Fall of 2012
National Assembly: Fall of 2012

Indicator of freedom of the press

World Rank:: 30/173
Evolution:: 8 places down compared to 2007

Source: Worldwide Press Freedom Index 2007, Reporters Without Borders

Indicator of political freedom

Ranking:: Free
Political freedom:: 1/7
Civil liberties:: 1/7

Map of freedom 2007
Source: Freedom House

Any comments about this content? Report it to us.