Business and Economics
During the beginning of the 1990s, Slovenia's economy
showed stable growth. After 2009, however, it was adversely
affected by a rapidly increasing budget deficit.
Furthermore, the international financial crisis has had
drastic consequences for the national banks, which during
the good years have devoted themselves to unsecured lending.
Since many borrowers have not been able to pay interest and
amortization, several of the major banks have been in acute
In 2013, the country's financial problems became so great
that it was forced to adopt a crisis budget to avoid taking
external loans, among other things, the state decided to set
up a so-called bank emergency.
As the country is highly export dependent, it is also
heavily dependent on the economic development of the
country's export markets, mainly Germany. Slovenia joined
the EU in 2004 and joined the euro area in 2007.
Until independence, Slovenia was the state of former
Yugoslavia that had the most developed business and the
strongest economy. The then state accounted for a large
proportion of the former Yugoslav GDP and export trade, in
proportion to its size. Furthermore, Slovenia had already
started to develop the market economy in the mid-1980s and
had about 40,000 private companies. Despite this relatively
favorable starting point, the country's business sector
experienced major problems at independence in 1991, mainly
due to the country's main markets in former Yugoslavia
falling away as a result of the Yugoslav wars.
However, since the mid-1990s, the economy has steadily
improved. The country's GDP has shown good growth. Compared
to other new EU countries, the country has a low proportion
of foreign investment, and to change this, in 2002 all
restrictions on foreign investment were removed. As a
result, investments have increased, while Slovenian
investments in neighboring countries, mainly in the Balkan
Peninsula, have increased.
Agriculture plays a secondary role in the country's
economy. The small farming units still dominate, often in
the form of part-time farming. About 2/3 of the country's
agricultural area is occupied by meadow and pasture land.
The most important cultivation area is in the fertile plains
landscape in the north-eastern part of the country.
Agriculture is the most mechanized here and you grow wheat,
maize and potatoes, among other things. In the river
valleys, mainly wine and fruit are grown and in the southern
part of the country there are bands of other hop crops.
countryaah, Slovenia was formerly Yugoslavia's foremost sub-republic,
and forestry plays a far more important role than
agriculture. Most of the forest area is located in the
northern parts of the country, which are also used for
hunting (including deer and deer).
Raw material supplies and energy supply
The mining industry is of little importance in Slovenia.
Lignite is mined in Velenje in the north with the country's
only remaining mining operation. Aluminum, crude steel and
smaller amounts of other metals are produced by refining.
In 2014, Slovenia's energy needs were covered by 33
percent of oil, 24 percent of nuclear energy, 19 percent of
renewable energy sources (water energy and biofuels), 15
percent of coal and 9 of natural gas. The goal is to reach
25 percent energy supply from renewable sources by 2020.
Nuclear energy is produced at the power plant in Krsko,
which is jointly owned with Croatia.
The manufacturing industry is the most important sector
of the Slovenian economy. The leading industrial branches
are the electronics industry, the chemical industry and the
wood and food industries. In addition to these, metalworking
and the engineering industry are also important.
With the exception of 1992, the country has had a
negative trade balance since 1989. Among the export goods
are machines, electric motors, transport equipment,
pharmaceuticals and raw materials. The most important import
goods are machinery, manu- facturing, food and raw
materials. Leading trading partners are Germany and Italy.
Tourism and gastronomy
Tourism has increased significantly since the end of the
Yugoslav war, and Slovenia is now visited annually by over
1.5 million tourists. These come mainly from Italy Austria
and Germany. and contributes about 8 percent of export
The most important tourist destinations are the beaches
along the Adriatic Sea, the foothills of the Alps in the
north and the over 6,000 limestone caves. The latter are
mainly found in the south-west Karst. The largest and most
talked about are the several kilometers deep caves in
Postojna and Skocjan.
The Slovenian food tradition leans heavily on influences
from the large, nearby kitchens; njoki (potato
dumplings), the ravioli-like žlikrophy and
rižota for the thoughts to Italy. Austria is reminded
in the form of clobasa (sausage) and Hungary in
golaž and palačinke (pancakes filled with nuts
or jam). Soups are often served, e.g. gobova kremna juha
(creamy mushroom soup), istrski bread (fish soup
from Istria) or jota (soup with beans, pork and
cabbage). Burekis a standard offering in street
kitchens and consists of puff pastry meat, vegetables or
fruit. The desserts are heavy, Central European pastries
with raisins, apples and nuts, e.g. potica and