Slovenia: country overview
12 May 2012by Ina Dimireva -- last modified 30 January 2017
Slovenia acceded to the EU in the spring of 2004; it joined the eurozone in 2007. The most important sectors of Slovenia’s economy in 2015 were industry (28.1 %), wholesale and retail trade, transport, accommodation and food services (20.3 %) and public administration, defence, education, human health and social work activities (16.5 %). Slovenia’s main export and import partners are Germany, Italy and Austria.
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Slovenia
Capital: Ljubljana
Geographical size: 20 273 km2
Population: 2 062 874 (2015)
Population as % of total EU: 0.4 % (2015)
Gross domestic product (GDP): € 38.543 billion (2015)
Official EU language(s): Slovenian
Political system: parliamentary republic
EU member country since: 1 May 2004
Seats in the European Parliament: 8
Currency: Euro. Member of the eurozone since 1 January 2007
Schengen area member? Yes, Schengen Area member since 21 December 2007.
Presidency of the Council: Slovenia has held the revolving presidency of the Council of the EU once in 2008.
Country overview
Previously one of Yugoslavia's six constituent republics, present-day Slovenia became independent in 1991 as Yugoslavia fell apart. It is bordered by Italy, Austria, Hungary and Croatia.
Four major European geographic regions meet in Slovenia: the Alps, the Dinaric area, the Pannonian plain and the Mediterranean. The country is mountainous, and Slovenes are keen skiers and hikers. The national flag depicts the three-peaked Triglav, Slovenia's highest mountain at 2 864 metres.
The country was once part of the Austro-Hungarian Empire. The capital, Ljubljana, was founded in Roman times. Its university, with more than 50 000 students, contributes to the city's busy cultural life. The main industries are car parts, chemicals, electronics, electrical appliances, metal goods, textiles and furniture.
Tourist attractions include the famous caves at Postojna, with their decor of stalactites and stalagmites. Graffiti in the caves shows that the first tourists came here in 1213.Slovenian cuisine is strongly influenced by that of its neighbours. From Austria comes Strudel and Wiener Schnitzel . Italy has contributed risotto and ravioli and Hungary goulash. The potica is a traditional Slovenian cake made by rolling up a layer of dough covered with walnuts.
Among the most famous Slovenes are the physicistJožef Stefan, the linguist Franc Miklošic and the architect Jože Plecnik.
Economy Overview
With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe, despite having suffered a protracted recession in 2008-2009 in the wake of the global financial crisis. Slovenia became the first 2004 EU entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe.
In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia's largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a "bad bank" established to restore bank balance sheets. Export-led growth fueled by demand in larger European markets pushed GDP growth to 3.0% in 2014, while stubbornly-high unemployment fell slightly to 12%.
Prime Minister CERAR's government took office in September 2014, pledging to press ahead with commitments to privatize a select group of state-run companies, rationalize public spending, and further stabilize the banking sector.
Useful links
European Parliament office in Slovenia
Source: CIA - The World Factbook, European Commission
