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Economy and Banking Sector of Slovenia

National Currency

Euro (EUR)

Slovenia joined the Euro Area on 1 January 2007. The preceding national currency, Slovenian tolar (SIT), was replaced by Euro.

GDP

Nominal GDP (2019)
48.0 bln EUR  (+0.04%)
Nominal GDP per Capita (2019)
22,980 EUR  (+0.03%)
Real GDP Growth (2019)
2.4 %  (2018: 4.5 %)

According to Eurostat, nominal GDP of Slovenia in 2019 was 48.0 bln EUR.

Slovenia outperforms the European Union in terms of real GDP growth with the average annual differential coming to 0.8% over the past 10 years (2009 - 2019). In 2019 real GDP growth was 2.4% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Real GDP growth in 2020 - 2024 are IMF's estimates.

Real GDP Growth in Slovenia.

Chart 1. Real GDP Growth in Slovenia. Source: Eurostat, International Monetary Fund.

In 2019, nominal GDP per capita in Slovenia was 22,980 EUR.

Slovenia has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -11.9% over the past 10 years (2008 - 2018). GDP per capita at PPP in 2019 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Slovenia; European Union = 100.

Chart 2. GDP Per Capita at Purchasing Power Parity in Slovenia; European Union = 100.

Inflation Rate

CPI, MoM (May 2020)
0.7 %  (Apr 2020: -1.3 %)
CPI, YoY (May 2020)
-1.4 %  (Apr 2020: -1.3 %)
CPI, Year Average (2019)
1.7 %  (2018: 1.9 %)

According to Eurostat, inflation rate in Slovenia in 2019 expressed as annual percentages of average consumer prices was 1.7% which was above the Euro Area average (1.2%) and above the European Union average (1.5%). Inflation rates in 2020 - 2024 are IMF's estimates.

Inflation Rate in Slovenia.

Chart 3. Inflation Rate in Slovenia. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2019)
4.5 %  (2018: 5.1 %)

According to Eurostat, unemployment rate in Slovenia in 2019 was 4.5% which was below the Euro Area average (7.6%) and below the European Union average (6.3%). Unemployment rates in 2020 - 2024 are IMF's estimates.

Unemployment Rate in Slovenia.

Chart 4. Unemployment Rate in Slovenia. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Apr 2020)
0.27 %  (Mar 2020: 0.02 %)

According to Eurostat, government bond yield in Slovenia in April 2020 was 0.27%, compared to 0.02% in March 2020.

Government bond yield of Slovenia.

Chart 5. Government bond yield of Slovenia. Source: Eurostat.

Credit Ratings (as of Jul 2020)

Fitch
A (high credit quality), outlook stable
Moody's
Baa1 (lower medium grade), outlook positive
Scope
A (upper medium grade), outlook stable

Slovenia has sovereign credit ratings assigned by American credit rating agencies Fitch and Moody's: the rating set by Fitch is A (high credit quality), outlook stable; the rating set by Moody's is Baa1 (lower medium grade), outlook positive. Scope Ratings, the European rating agency, rated Slovenia as A (upper medium grade), outlook stable.

Fitch and Moody's rating data are provided for June 2020, Scope Ratings for July 2020.