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Economic information
With the highest per capita GDP in Central Europe, Slovenia has excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe.
Privatization has lagged since 2002, and the economy has one of highest levels of state control in the EU. Structural reforms to improve the business environment have allowed for somewhat greater foreign participation in Slovenia's economy and have helped to lower unemployment. Slovenia's economy has benefited from the country's embrace of liberal trade, following the rule of law, and rewarding enterprise. The country has a well-educated and productive work force as well as dynamic and effective political and economic institutions. Due to its macroeconomic stability, favorable foreign debt position, and successful accession to the EU, Slovenia consistently receives the highest credit rating of all transition economies. Slovenia is a founding member of the World Trade Organization (WTO) and joined the Central European Free Trade Agreement (CEFTA) in 1996. Slovenia also participates in the Southeast European Cooperative Initiative (SECI), the Central European Initiative, the Royaumont Process, and the Black Sea Economic Council. Slovenia became an EU member state on May 1, 2004 and joined the Euro Zone in January 2007.
Despite its economic success, foreign direct investment (FDI) in Slovenia has lagged behind the region average, and taxes remain relatively high. Slovenia must carefully address fiscal, monetary, and FDI policy, in light of the high deficit in pension accounts, its vulnerable Western export markets, and inflation concerns. |
Labor force:
914,000 (2009 est.)
country comparison to the world: 144
Labor force - by occupation:
agriculture: 2.2%
industry: 35%
services: 62.8% (2009)
Unemployment rate:
9.4% (2009 est.)
country comparison to the world: 110
6.7% (2008 est.)
Population below poverty line:
12.3% (2008)
Household income or consumption by percentage share:
lowest 10%: 3.4%
highest 10%: 24.6% (2004)
Distribution of family income - Gini index:
28.4 (2008)
country comparison to the world: 120
23.8 (2004)
Investment (gross fixed):
23.7% of GDP (2009 est.)
country comparison to the world: 52
Budget:
revenues: $20.58 billion
expenditures: $23.54 billion (2009 est.)
Public debt:
34% of GDP (2009 est.)
country comparison to the world: 75
23% of GDP (2008 est.)
Inflation rate (consumer prices):
0.8% (2009 est.)
country comparison to the world: 38
5.7% (2008 est.)
Central bank discount rate:
3% (31 December 2008)
country comparison to the world: 91
5% (31 December 2007)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
Commercial bank prime lending rate:
7.41% (31 December 2008)
country comparison to the world: 129
6.82% (31 December 2007)
Stock of money:
$NA (30 September 2009)
country comparison to the world: 47
$9.347 billion (31 December 2006)
note: the figure for 2006 represents the US dollar value of tolars in circulation prior to Slovenia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders
Stock of quasi money:
$NA (30 September 2009)
country comparison to the world: 50
$12.69 billion (31 December 2006)
Stock of domestic credit:
$46.4 billion (31 December 2009)
country comparison to the world: 55
$45 billion (31 December 2008)
Market value of publicly traded shares:
$28.1 billion (31 December 2009)
country comparison to the world: 64
$22.1 billion (31 December 2008)
$28.96 billion (31 December 2007)
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, automobiles, electric power equipment, wood products, textiles, chemicals, machine tools
Industrial production growth rate:
-19% (2009 est.)
country comparison to the world: 161
Electricity - production:
13 billion kWh (2009 est.)
country comparison to the world: 83
Electricity - consumption:
14.7 billion kWh (2009 est.)
country comparison to the world: 76
Electricity - exports:
7.82 billion kWh (2008 est.)
Electricity - imports:
6.218 billion kWh (2008 est.) |
GDP (purchasing power parity):
$55.84 billion (2009 est.)
country comparison to the world: 87
$60.24 billion (2008 est.)
$58.21 billion (2007 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$50.13 billion (2009 est.)
GDP - real growth rate:
-7.3% (2009 est.)
country comparison to the world: 202
3.5% (2008 est.)
6.8% (2007 est.)
GDP - per capita (PPP):
$27,900 (2009 est.)
country comparison to the world: 50
$30,000 (2008 est.)
$29,000 (2007 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 2%
industry: 37%
services: 61% (2009 est.)
Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 134
Oil - consumption:
56,000 bbl/day (2009 est.)
country comparison to the world: 96
Oil - exports:
0 bbl/day (2009 est.)
country comparison to the world: 148
Oil - imports:
57,000 bbl/day (2009 est.)
country comparison to the world: 82
Oil - proved reserves:
0 bbl (1 January 2009 est.)
country comparison to the world: 134
Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 134
Natural gas - consumption:
1.05 billion cu m (2009 est.)
country comparison to the world: 88
Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 118
Natural gas - imports:
1.05 billion cu m (2009 est.)
country comparison to the world: 54
Natural gas - proved reserves:
0 cu m (1 January 2009 est.)
country comparison to the world: 137
Current account balance:
-$117 million (2009 est.)
country comparison to the world: 76
-$3.267 billion (2008 est.)
Exports:
$24.3 billion (2009 est.)
country comparison to the world: 63
$28.7 billion (2008 est.)
Exports - commodities:
manufactured goods, machinery and transport equipment, chemicals, food
Exports - partners:
Germany 18.2%, Italy 11.4%, Croatia 8.1%, Austria 7.3%, France 5.5%, Russia 4.7% (2008)
Imports:
$22.9 billion (2009 est.)
country comparison to the world: 64
$32.4 billion (2008 est.)
Imports - commodities:
machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Imports - partners:
Germany 17%, Italy 16.4%, Austria 11.1%, France 4.6%, Croatia 4.1% (2008)
Reserves of foreign exchange and gold:
$3.873 billion (31 December 2009 est.)
country comparison to the world: 73
$7.57 billion (31 December 2008 est.)
Debt - external:
$55 billion (31 August 2009)
country comparison to the world: 46
$54.61 billion (31 December 2008)
Stock of direct foreign investment - at home:
$12.51 billion (31 December 2009 est.)
country comparison to the world: 74
$15.98 billion (31 December 2008 est.)
Stock of direct foreign investment - abroad:
$8.2 billion (31 December 2009 est.)
country comparison to the world: 49
$7.592 billion (31 December 2008 est.)
Exchange rates:
euros (EUR) per US dollar - 0.7338 (2009), 0.6827 (2008), 0.7345 (2007)
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| Business Visa |
Slovenia is in the Schengen Zone, meaning that at the border crossings with Italy, Austria and Hungary there are generally no controls. Persons wishing to enter Slovenia must have a relevant travel document. EU/EEA citizens do not need a passport to enter Slovenia, only a valid identity card. On the basis of a bilateral agreement, Croatian citizens may also enter Slovenia with an identity card. Holders of a valid UN laissez-passer do not need a visa to enter Slovenia (regardless of citizenship). U.S. citizens do not need a visa for tourist or business travel to enter Slovenia. A valid U.S. Passport is required. Citizens of the following countries do not need visa travel to Slovenia: Andorra, Argentine, Australia, Bolivia, Brazil, Brunei, Canada, Chile, Costa Rica, Croatia, El Salvador, Guatemala, Holy See, Honduras, Israel, Japan, Malaysia, Mexico, Nicaragua, New Zealand, Panama, Paraguay, San Marino, Singapore, South Korea, Uruguay and Venezuela. The exemption from the visa requirement also applies to the holders of valid Travel documents issued by the Hong Kong Special Administrative Region of the People's Republic of China and the Macao Special Administrative Region of the People's Republic of China.
Conditions for obtaining a permit:
- Valid passport (whose period of validity must exceed the intended
- Period of stay in the Republic of Slovenia by at least three months)
- appropriate health insurance certificate;
- Completed signed visa application form
- 1-passport type photographs
- sufficient funds for subsistence (the amount per month must be at least equal to the basic minimum income in the Republic of Slovenia)
- fulfillment of one of the justified reasons or purposes for which an Alien intends to reside in the Republic of Slovenia (e.g. issued and valid work permit, certificate of admission to studies, concluded agreement on hosting with a research organization, etc.)
- certificate from the criminal records not older than three months issued by the country of origin.
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