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 Travel TipsSlovenia
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Thursday 29, September 2005, Local time in Slovenia |
Here you will find the most important informations
about Slovenia
| Slovenia most important informations |
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ECONOMY
Before the disintegration of Yugoslavia (now Serbia and Montenegro) that began in 1991, Slovenia was its richest and most industrialized republic. With few natural resources, Slovenia was initially seriously affected by the civil war and the collapse of the Yugoslav federal market. However, careful economic management enabled a solid recovery. The agricultural sector is fairly small, growing cereals, sugar beet and potatoes, but the large areas of forest, covering about half the country, are an important natural resource. The mining industry is mostly concentrated on coal, but zinc and lead are also extracted along with small quantities of oil, gas and uranium. The manufacturing industry, which accounts for about 30 per cent of GDP, produces electrical equipment, textiles, wood-based products (including paper), chemicals and processed foods. The service sector is dominated by tourism and financial services. The tourism industry was almost annihilated during the early stages of the Yugoslav civil war when Slovenia was most heavily involved; it has since re-emerged, and in 2002 was worth about US$1.5 billion annually.
Financial services are well developed, especially banking and insurance. Successive governments have moved cautiously to reform the economy, introducing market-oriented reforms gradually and -for the most part - successfully. Inflation and unemployment in 2003 were both around 6 per cent, while the economy is growing moderately at 3 per cent annually. Slovenia has joined the IMF, World Bank and the European Bank for Reconstruction and Development, and became a full member of the World Trade Organization in July 1995. Germany, Italy, France and Austria are particularly important trade partners; outside the EU, Croatia is most valuable to Slovenian trade. Slovenia is the only former Yugoslav republic to have been accepted for membership of the EU, which it joined in May 2004. |
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