small
scale of damage during its brief 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 has fallen 26% since 1990; particularly
hard hit have been the iron and steel, machine-building, chemical, and
textile industries. Meanwhile, the continued fighting in other former
Yugoslav 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. Despite slow
progress in privatization Slovenia has reasonable prospects for an
upturn in 1994. 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 - $15 billion (1993 est.)
National product real growth rate:
0% (1993 est.)
National product per capita:
$7,600 (1993 est.)
Inflation rate (consumer prices):
22.9% (1993)
Unemployment rate:
15.5% (1993)
Budget:
revenues:
$NA
expenditures:
$NA, including capital expenditures of $NA
Exports:
$5.1 billion (f.o.b., 1993)
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% (1992)
partners:
Germany 27%, Croatia 14%, Italy 13%, France 9% (1992)
Imports:
$5.3 billion (c.i.f., 1993)
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% (1992)
partners:
Germany 23%, Croatia 14%, Italy 14%, France 8%, Austria 8% (1992)
External debt:
$1.9 billion
Industrial production:
growth rate -2.8% (1993); accounts for 30% of GDP
Electricity:
capacity:
2,900,000 kW
production:
10 billion kWh
consumption per capita:
5,090 kWh (1992)
Industries:
ferrous metallur