Lake Bled in Slovenia

Slovenia Economy

Slovenia's economy in numbers:

Nominal GDP of USD 60.0 billion in 2022.

GDP per capita of USD 28,454 compared to the global average of USD 10,589.

Average real GDP growth of 2.2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 68% of overall GDP, manufacturing 21%, other industrial activity 9%, and agriculture 2%. Looking at GDP by expenditure, private consumption accounted for 52% of GDP in 2021, government consumption 20%, fixed investment 22%, and net exports 6%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 85% of total merchandise exports, mineral fuels 4%, food 5%, ores and metals 4% and agricultural raw materials 2%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 78% of total merchandise imports, mineral fuels 7%, food 7%, ores and metals 6% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 45 billion in 2022, while total imports were USD 47 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.2% in the decade to 2022. To read more about GDP growth in Slovenia, go to our dedicated page.

Fiscal policy:

Slovenia's fiscal deficit averaged 3.9% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 6.9% in the decade to 2022. For more information on Slovenia's unemployment click here.

Inflation:

Inflation averaged 1.9% in the decade to 2022. Go to our Slovenia inflation page for extra insight.

Monetary Policy:

Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Slovenia monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.
The economy lost momentum in Q3 year on year, weighed on by historic floods. The external sector contracted at a steeper pace than in Q2, as the extreme weather event took its toll on the key auto industry. On the domestic front, private consumption swung into contraction, and both public spending and fixed investment growth slowed. Our panel expects growth to have picked up in Q4 on a normalization of activity post-flooding. Retail trade contracted at a softer annual clip in October–November than in Q3 amid two-year low inflation, boding well for private spending. Similarly, the industrial and external sectors averaged only mild contractions in the same period following steep Q3 downturns. In other news, healthcare and judiciary workers went on strike in January over a wage dispute with the government; these pay disputes threaten political stability as government popularity drops.
Projections out to 2033.

49 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 24 expert analysts.

Want to get insight on the economic outlook for Slovenia in the coming years? FocusEconomics collects projections out to 2033 on 49 economic indicators for Slovenia from a panel of 24 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Slovenia economy. To download a sample report on the Slovenia's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Slovenia Economic Data

2018 2019 2020 2021 2022
Population (million) 2.1 2.1 2.1 2.1 2.1
GDP (USD bn) 54.1 54.4 53.6 61.8 60.0
GDP per capita (USD) 26,187 26,131 25,587 29,303 28,454
GDP (EUR bn) 45.9 48.6 47.0 52.3 57.0
GDP per capita (EUR) 22,195 23,346 22,445 24,788 27,071
Economic Growth (Nominal GDP, ann. var. %) 6.7 5.9 -3.2 11.1 9.1
Economic Growth (GDP, ann. var. %) 4.5 3.5 -4.2 8.2 2.5
Domestic Demand (ann. var. %) 5.0 3.6 -4.3 10.1 3.7
Private Consumption (ann. var. %) 3.5 5.5 -6.5 10.2 3.3
Government Consumption (ann. var. %) 2.9 1.8 4.2 6.1 -0.5
Fixed Investment (ann. var. %) 10.2 5.0 -7.2 12.6 3.5
Exports (G&S, ann. var. %) 6.2 4.5 -8.5 14.5 7.2
Imports (G&S, ann. var. %) 7.1 4.7 -9.1 17.8 9.0
Industrial Production (ann. var. %) 5.1 3.1 -5.2 10.2 1.2
Retail Sales (ann. var. %) 4.6 3.4 -8.9 18.9 19.9
Wages (ann. var. %) 3.4 4.3 6.0 6.0 2.7
Unemployment (% of active population, eop) 4.4 3.9 5.4 4.4 3.5
Unemployment (% of active population, aop) 5.1 4.5 5.0 4.8 4.0
Fiscal Balance (% of GDP) 0.7 0.7 -7.6 -4.6 -3.0
Public Debt (% of GDP) 70.3 65.4 79.6 74.4 72.3
Money (ann. var. of M2 %) 7.4 7.9 12.1 8.8 8.4
Inflation (CPI, ann. var. %, eop) 1.4 1.8 -1.1 4.9 10.3
Inflation (HICP, ann. var. %, eop) 1.4 2.0 -1.2 5.1 10.8
Inflation (HICP, ann. var. %, aop) 1.9 1.7 -0.3 2.0 9.3
Inflation (PPI, ann. var. %, aop) 2.1 0.7 -0.3 5.5 19.6
ECB Refinancing Rate (%, eop) 0.00 0.00 0.00 0.00 2.50
ECB Overnight Deposit Rate (%, eop) -0.40 -0.50 -0.50 -0.50 2.00
3-Month EURIBOR (%, eop) -0.31 -0.38 -0.55 -0.57 2.13
10-Year Bond Yield (%, eop) 0.96 0.02 -0.23 0.17 3.52
Exchange Rate (USD per EUR, eop) 1.14 1.12 1.22 1.14 1.07
Exchange Rate (USD per EUR, aop) 1.18 1.12 1.14 1.18 1.05
Current Account Balance (EUR bn) 2.7 2.8 3.4 1.7 -0.6
Current Account Balance (% of GDP) 5.9 5.9 7.2 3.3 -1.0
Merchandise Trade Balance (EUR bn) 1.3 1.3 2.3 0.9 -2.2
Merchandise Exports (EUR bn) 30.8 32.0 29.6 35.3 42.6
Merchandise Imports (EUR bn) 29.5 30.7 27.3 34.4 44.8
Merchandise Exports (ann. var. %) 8.6 3.9 -7.4 19.0 20.9
Merchandise Imports (ann. var. %) 10.4 3.9 -11.1 26.0 30.3
Foreign Direct Investment (EUR bn) 1.2 1.3 0.2 1.6 1.5

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