six-sided stars arranged in an
inverted triangle); the seal is located in the upper hoist side of the flag
centered in the white and blue band

:Slovenia Economy

Overview:
Slovenia was by far the most prosperous of the old 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 internecine
fighting in Yugoslavia, Slovenia has the brightest prospects among the
former Yugoslav republics for economic reform and recovery over the next few
years. The political and economic disintegration 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, fighting has continued in other republics
leading to further destruction of long-established trade channels and to an
influx of tens of thousands of Croatian refugees. As in other former
Communist areas in Eastern Europe, economic reform has often sputtered not
only because of the vested interests of old bosses in retaining old rules of
the game but also because of the tangible losses experienced by
rank-and-file people in the transition to a more market-oriented system. The
key program for breaking up and privatizing major industrial firms has not
yet begun. Bright spots for encouraging Western investors are Slovenia's
comparatively well-educated work force, its developed infrastructure, and
its Western business attitudes. Slovenia in absolute terms is a small
economy, and a little Western investment would go a long way.
GDP:
$21 billion, per capita $10,700; real growth rate -10% (1991 est.)
Inflation rate (consumer prices):
15-20% (1991 est.)
Unemployment rate:
10% (April 1992)
Budget:
revenues $NA; expenditures $NA, including capital expenditures of $NA
Exports:
$4,120 million (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: