Slovenia's Macroeconomic Analysis:
Nominal GDP of USD 60.0 billion in 2022.
Nominal GDP of USD 69.1 billion in 2023.
GDP per capita of USD 32,661 compared to the global average of USD 10,589.
GDP per capita of USD 28,454 compared to the global average of USD 10,589.
Average real GDP growth of 2.2% over the last decade.
Average real GDP growth of 2.7% over the last decade.
Sector Analysis
In 2021, services accounted for 68% of overall GDP, manufacturing 21%, other industrial activity 9%, and agriculture 2%. Looking at GDP by expenditure, private consumption accounted for 52% of GDP in 2021, government consumption 20%, fixed investment 22%, and net exports 6%.International trade
In 2021, manufactured products made up 85% of total merchandise exports, mineral fuels 4%, food 5%, ores and metals 4% and agricultural raw materials 2%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 78% of total merchandise imports, mineral fuels 7%, food 7%, ores and metals 6% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 45 billion in 2022, while total imports were USD 47 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 2.2% in the decade to 2022. To read more about GDP growth in Slovenia, go to our dedicated page.
Fiscal policy
Slovenia's fiscal deficit averaged 3.9% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 6.9% in the decade to 2022. For more information on Slovenia's unemployment click here.
Inflation
Inflation averaged 1.9% in the decade to 2022. Go to our Slovenia inflation page for extra insight.
Monetary Policy
Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Slovenia monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.
Economic situation in Slovenia
In Q3, annual GDP growth doubled to 1.4%, surpassing the 0.9% Euro area average for the same period. The external sector drove the uptick, as exports bounced back from the prior quarter and logged the best result in two years. That said, domestic demand dragged on the result, with fixed investment contracting at the fastest rate since Q2 2020. Shifting to Q4, the economy should be expanding at a similar pace to Q3. In October, industrial output accelerated from Q3, bolstered by stronger global vehicle demand. That said, retail sales posted a weaker reading than in Q3 during the same month, hinting at deteriorating private spending. In other news, in early December, the European Commission allocated an additional EUR 328 million to support Slovenia’s recovery efforts following the 2023 floods.Slovenia Economic Forecasts
Projections out to 2034.53 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 25 expert analysts.
Want to get insight on the economic outlook for Slovenia in the coming years? FocusEconomics collects projections out to 2034 on 53 economic indicators for Slovenia from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Slovenia economy. To download a sample report on the Slovenia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.