Your partner for success

Slovenia
Chamber of Commerce Country Factsheet Last update: 09.08.2017

Your advisors at the Chamber of Commerce

  • Edith Stein
    +352423939482
  • Daniel Sahr
    +352423939313
Contact us: europe@cc.lu

Key Indicators

Area
20,273 km2
Population
1,978,029 (July 2016 est.)
Government type
parliamentary republic
Languages
Slovenian (official) 91.1%, Serbo-Croatian 4.5%, other or unspecified 4.4%, Italian (official, only in municipalities where Italian national communities reside, Hungarian (official, only in municipalities where Hungarian national communities reside (2002
GDP
$68.35 billion (2016 est.)
Growth rate
2.5% (2016 est.)
HDI
25
Capital
Ljubljana

 

Introduction

The Slovene lands were part of the Austro-Hungarian Empire until the latter's dissolution at the end of World War I. In 1918, the Slovenes joined the Serbs and Croats in forming a new multinational state, which was named Yugoslavia in 1929. After World War II, Slovenia became a republic of the renewed Yugoslavia, which though Communist, distanced itself from Moscow's rule. Dissatisfied with the exercise of power by the majority Serbs, the Slovenes succeeded in establishing their independence in 1991 after a short 10-day war. Historical ties to Western Europe, a strong economy, and a stable democracy have assisted in Slovenia's transformation to a modern state. Slovenia acceded to both NATO and the EU in the spring of 2004; it joined the eurozone in 2007.

Source: The CIA World Factbook - Slovenia

 

Macroeconomic indicators

Economic growth is projected to remain solid and broad-based. Investment will accelerate as more EU structural funds are disbursed and capacity constraints bite. A strong labour market will lead to faster wage gains, supporting private consumption. Euro area growth should help exports remain buoyant despite cost increases. Higher energy prices and the disappearance of economic slack should push up inflation.


The fiscal stance is broadly neutral, though the budget deficit continues to fall. Accommodative euro area monetary policy is having an expansionary effect, and bank balance sheets have improved substantially. To contain cost pressures, Slovenia should enhance competition by accelerating its privatisation programme, which would also bolster inward FDI opportunities, and also by undertaking product market reforms and reduce barriers to entrepreneurship.


Slovenia has not taken full advantage of globalisation, with a low FDI stock and comparatively weak integration into global value chains. The authorities could encourage internationally competitive firms to locate operations in Slovenia by reducing onerous regulation and creating competitive markets. Also, labour market rigidities push those with obsolete skills into long-term unemployment or early retirement. Inclusiveness would be boosted by giving such workers the training needed to find a new occupation.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
3.1062.3172.3351.8131.643
Gross domestic product, current prices
U.S. dollars (Billions)
49.60942.79844.12245.91747.565
Gross domestic product per capita, current prices
U.S. dollars (Units)
24,069.28820,746.89821,369.99922,220.10322,997.462
Inflation, average consumer prices
Percent change
0.183-0.506-0.2940.9531.401
Volume of imports of goods and services
Percent change
4.1544.6233.9884.5514.504
Volume of exports of goods and services
Percent change
5.6935.5515.3123.1703.191
Unemployment rate
Percent of total labor force
9.7339.0008.2417.8747.505
Current account balance
U.S. dollars (Billions)
3.0892.2173.3983.3163.079
Current account balance
Percent of GDP
6.2275.1807.7027.2226.474
Colored cells are estimates

Source: IMF Statistics - Slovenia

 

Luxembourg and the country

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 04.02.2001 (Memorial 2002, A, p. 3216)
  • Effective as of 12.18.2002 (Memorial 2003, A, No. 123,p. 394)
  • Convention from 20.06.2013 (Memorial A N°141, p.3216)

Air Services agreement

  • Agreement from 05.21.1993 (Memorial 1995, A, p. 1592)
  • Effective as of 07.09.1995 (Memorial 1995, A, p. 1976)

Source: Administration des Contributions Directes

 

Further information

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Slovenia

Embassy of the Grand Duchy of Luxembourg in Slovenia

Ambassador with residence in Vienna: Mr. Hubert Wurth
Sternwartestrasse 81
A - 1180 Wien
Tel: +43 0 1 478 21 42
Fax: +43 0 1 478 21 44
Email: vienne.amb(at)mae.etat.lu 

Economic and Commercial Attaché (AWEX):

M. Predrag SMOLE 
Trg Republike 3/VIII
1000 Ljubljana
Tel: +386 1 422 48.60/61
Fax: +386 1 422 48 62
E-mail: ljubljana(at)awex-wallonia.com 

Honorary Consul

Honorary Consul with jurisdiction in Slovenia: Mr. Joze Gasper FILIPLIC
Presernova cesta 11
SL-1000 Ljubljana Slovenia
Tel: +386 83 89 98 01
GSM: +386 41 652
Fax: +386 83 89 98 00
Email: senozet(at)siol.net 

Source: www.mae.lu
Source: www.awex.be

Country risk as defined by Office du Ducroire for Slovenia

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Ducroire Office - Country Risk for Slovenia

Other useful links