Slovenia--Economy
CIA FactbookThe World Factbook 1993: Slovenia Economy

Overview: Slovenia was by far the most prosperous of the former Yugoslav republics, with a per capita income more than twice the Yugoslav average, indeed not far below the levels in neighboring Austria and Italy. Because of its strong ties to Western Europe and the small scale of damage during its fight for independence from Yugoslavia, Slovenia has the brightest prospects among the former Yugoslav republics for economic recovery over the next few years. The dissolution of Yugoslavia, however, has led to severe short-term dislocations in production, employment, and trade ties. For example, overall industrial production fell 10% in 1991; particularly hard hit were the iron and steel, machine-building, chemical, and textile industries. Meanwhile, the continued fighting in other former Yugoslavian republics has led to further destruction of long-established trade channels and to an influx of tens of thousands of Croatian and Bosnian refugees. The key program for breaking up and privatizing major industrial firms was established in late 1992. Bright spots for encouraging Western investors are Slovenia's comparatively well-educated work force, its developed infrastructure, and its Western business attitudes, but instability in Croatia is a deterrent. Slovenia in absolute terms is a small economy, and a little Western investment would go a long way.

National product: GDP - purchasing power equivalent - $21 billion (1991 est.)

National product real growth rate: -10% (1991 est.)

National product per capita: $10,700 (1991 est.)

Inflation rate (consumer prices): 2.7% (September 1992)

Unemployment rate: 10% (April 1992)

Budget: revenues $NA; expenditures $NA, including capital expenditures of $NA

Exports: $4.12 billion (f.o.b., 1990) commodities: machinery and transport equipment 38%, other manufactured goods 44%, chemicals 9%, food and live animals 4.6%, raw materials 3%, beverages and tobacco less than 1% partners: principally the other former Yugoslav republics, Austria, and Italy Imports: $4.679 billion (c.i.f., 1990) commodities: machinery and transport equipment 35%, other manufactured goods 26.7%, chemicals 14.5%, raw materials 9.4%, fuels and lubricants 7%, food and live animals 6% partners: principally the other former Yugoslav republics, Germany, successor states of the former USSR, US, Hungary, Italy, and Austria

External debt: $2.5 billion

Industrial production: growth rate -1% per month (1991-92 est.)

Electricity: 2,900,000 kW capacity; 10,000 million kWh produced, 5,090 kWh per capita (1992)

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

Agriculture: dominated by stock breeding (sheep and cattle) and dairy farming; main crops - potatoes, hops, hemp, flax; an export surplus in these commodities; Slovenia must import many other agricultural products and has a negative overall trade balance in this sector

Illicit drugs: NA

Economic aid: NA

Currency: 1 tolar (SIT)=100 NA

Exchange rates: tolars (SIT) per US$1 - 112 (June 1993), 28 (January 1992)

Fiscal year: calendar year