Exporting

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The Slovene lands were part of the Austro-Hungarian Empire until the latter's dissolution at the end of World War I. In 1918, the Slovenes joined the Serbs and Croats in forming a new multinational state, which was named Yugoslavia in 1929. After World War II, Slovenia became a republic of the renewed Yugoslavia, which though communist, distanced itself from Moscow's rule. Dissatisfied with the exercise of power by the majority Serbs, the Slovenes succeeded in establishing their independence in 1991 after a short 10-day war. Historical ties to Western Europe, a strong economy, and a stable democracy have assisted in Slovenia's transformation to a modern state. Slovenia acceded to both NATO and the EU in the spring of 2004; it joined the euro zone and the Schengen zone in 2007.

Location

south Central Europe, Julian Alps between Austria and Croatia

Natural Resources

lignite, lead, zinc, building stone, hydropower, forests

Population - distribution

a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations; pockets in the mountainous northwest exhibit less density than elsewhere

2007000
Slovenian (official) 91.1%, Serbo-Croatian 4.5%, other or unspecified 4.4%, Italian (official, only in municipalities where Italian national communities reside), Hungarian (official, only in municipalities where Hungarian national communities reside) (2002 census)
LJUBLJANA (capital) 279,000 (2014)
Conventional long form
Republic of Slovenia
Conventional short form
Slovenia
Local long form
Republika Slovenija
Local short form
Slovenija
parliamentary republic
Name
Ljubljana
Geographic coordinates
46 03 N, 14 31 E
Time difference
UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins last Sunday in March; ends last Sunday in October
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe, despite having suffered a protracted recession in the 2008-09 period in the wake of the global financial crisis. Slovenia became the first 2004 EU entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe.
Inflation
-0.057%
Total tax rate (% of commercial profits)
31.0%
Real Interest Rate
3.584%
Manufacturing, value added (% of GDP)
23.852%
Current Account Balance
US$ 2,991,196,891
Labor Force, Total
1,006,644
Employment in Agriculture
6.99%
Employment in Industry
31.62%
Employment in Services
60.17%
Unemployment Rate
8.69%
Imports of goods and services
US$ 30,538,089,225
Exports of goods and services
US$ 34,777,438,208
Total Merchandise Trade
143.89%
FDI, net inflows
US$ 1,078,086,667
Commercial Service Exports
US$ 7,189,634,245
hops, wheat, coffee, corn, apples, pears; cattle, sheep, poultry
ferrous metallurgy and aluminum products, lead and zinc smelting; electronics (including military electronics), trucks, automobiles, electric power equipment, wood products, textiles, chemicals, machine tools
Commodities
manufactured goods, machinery and transport equipment, chemicals, food
Partners
Germany 19.1%, Italy 10.6%, Austria 8%, Croatia 6.8%, Slovakia 4.7%, Hungary 4.4%, France 4.2% (2015)
Commodities
machinery and transport equipment, manufactured goods, chemicals, fuels and lubricants, food
Partners
Germany 16.5%, Italy 13.6%, Austria 10.2%, China 5.5%, Croatia 5.1%, Turkey 4% (2015)
Country Risk Rating
A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average.
Business Climate Rating
A3
The business environment is relatively good. Although not always available, corporate financial information is usually reliable. Debt collection and the institutional framework may have some shortcomings. Intercompany transactions may run into occasional difficulties in the otherwise secure environments rated A3.
  • Membership of Eurozone
  • High level of political and social development
  • Diversified economy
  • Integration in the European production chain
  • External accounts in surplus
  • European support through structural funds and ECB facilities
  • Small domestic market
  • Banking sector remains vulnerable
  • Weak public accounts
  • High level of structural unemployment
  • Slow administrative and judicial procedures
  • Aging population
  • Inefficient state-owned companies
  • Dependence on regional economy and automotive industry

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