Economy of Slovenia since its bid for Independence!!



Slovenia was and is by far the most prosperous of the former Yugoslav republics,   with a per capita income more than twice the Yugoslav average,  indeed not far below the levels of neighboring Austria and Italy.

Because of its strong ties to Western Europe and the small scale of damage during its fight for independence from Yugoslavia.

Slovenia had and has the brightest prospects among the former Yugoslav republics for economic recovery over the next few years.

The dissolution 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, the continued fighting in other former Yugoslavian republics has led to further destruction of long-established trade channels and to an influx of tens of thousands of Croatian and Bosnian refugees.

The key program for breaking up and privatizing major industrial firms was established in late 1992.

Bright spots for encouraging Western investors were and are Slovenia's comparatively well-educated work force, its developed infrastructure, and its Western business attitudes.

Slovenia in absolute terms is a small economy, that has proven itself worthy among European Nations.

Some facts:

GDP: $21 billion, per capita $10,700; real growth rate - 10% (1991 est.)
Labor Force: 786,036; 2% agriculture, manufacturing and mining 46%
Industrial Production: Industrial production has been declining at a rate of about 1% per month (1991-92), mostly because of lost markets in the other former Yugoslav Republics .


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