Slovenia Economy 1997

Economy - overview Slovenia appears to be making a solid economic recovery, fulfillingthe promise it showed at the time of Yugoslavia's breakup. Its per capitaGDP is now the highest in Central and Eastern Europe and comparable to the levels in the poorer West European countries. Slovenia has benefited fromstrong ties to Western Europe and suffered comparatively small physical damageduring Yugoslavia's breakup. The beginning was difficult, however. Real GDPfell 15% in 1991-92, while inflation soared to 200% in 1992. The turning pointcame in 1993, when real GDP grew 1%, unemployment leveled off, and inflationslowed dramatically. In 1994, real GDP rose 5.5%, tapering off to an estimated3.5% in 1995 and an estimated 3% in 1996. The government gets good marks fromforeign observers for fiscal policy - the budget deficit has not exceeded1% of GDP in any year since 1991, and the current account balance has remainedin surplus throughout the transition period, with the exception of 1995-96.The Slovene privatization program, which began in 1994, involves about 1,400firms, but less than half have been privatized. Growth in the near term dependslargely on economic revitalization in Western Europe which buys 70% of Slovenia'sexports. Slovenia itself must press on with privatization, restructuring,the encouragement of foreign investment, and the maintenance of a stable tolar.

GDP purchasing power parity - $24 billion (1996 est.)

GDP - real growth rate 3% (1996 est.)

GDP - per capita purchasing power parity - $12,300 (1996 est.)

GDP - composition by sector
agriculture: 4.8%
industry: 33.2%
services : 62% (1996)

Inflation rate - consumer price index 8.8% (1996 est.)

Labor force
total : 857,400
by occupation: NA%

Unemployment rate 13% (1996 est.)

Budget
revenues : $8.48 billion
expenditures: $8.53 billion, including capital expenditures of $NA (1996 est.)

Industries ferrous metallurgy and rolling mill products, aluminum reduction androlled products, lead and zinc smelting, electronics (including military electronics),trucks, electric power equipment, wood products, textiles, chemicals, machinetools

Industrial production growth rate -1% (1996 est.)

Electricity - capacity 2.361 million kW (1994)

Electricity - production 12 billion kWh (1994)

Electricity - consumption per capita 5,362 kWh (1995 est.)

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

Exports
total value: $8.3 billion (f.o.b., 1996)
commodities : machinery and transport equipment 31.4%, manufactured goods 50.7%, chemicals10.5%, food 3.8% (1995)
partners: Germany 28.9%, former Yugoslavia 16.5%, Italy 13.6%, France 8.6%, Austria6.4%, US 3.3% (January-July 1996 est.)

Imports
total value : $9.5 billion (f.o.b., 1996)
commodities: machinery and transport equipment 33.8%, manufactured goods 30.4%, chemicals12.1%, fuels and lubricants 6.6%, food 8.4% (1995)
partners: Germany 22.3%, Italy 17.1%, former Yugoslavia 7.4%, France 9.2%, Austria9.1%, US 3.2% (January-July 1996 est.)

Debt - external $4.3 billion (1996 est.)

Economic aid
recipient: ODA, $5 million (1993)

Currency 1 tolar (SlT) = 100 stotins

Exchange rates tolars (SlT) per US$1 - 141.15 (December 1996), 135.36 (1996), 118.52(1995), 128.81 (1994), 113.24 (1993), 81.29 (1992)

Fiscal year calendar year

NOTE: The information regarding Slovenia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovenia Economy 1997 information contained here. All suggestions for corrections of any errors about Slovenia Economy 1997 should be addressed to the CIA.