The European Union is a member of the Republic of Slovenia, which is situated in south-central Europe. Croatia is on its southeasterly border, Hungary is on its eastern, Austria is on its northern, Italy is on its western, and the Adriatic Sea is on its southwesterly. It is situated along a crucial commercial corridor that connects the Balkans to the rest of Europe. Recently, migrants have changed their course to northern Europe, going through Slovenia, when Hungary closed its border, forbidding many refugees from violence and poverty to enter the nation. Electricity and electronics, automobile manufacturing, the pharmaceutical industry, as well as the wood and food sectors, are among the industries in Slovenia’s industrial sector that function best nowadays.
The industrial sector is heavily export-oriented. Along with the appliance producer Gorenje, pharmaceutical firms Lek and Krka have established themselves as major names in Europe. Since its transition during the 2000s, Slovenia has had an open market economy and is an independent, developed, and stable country. The country is home to around 2.08 million people. The nation’s economy was mostly centered on commerce and services at twenty-first-century start. The shift to an open market economy has greatly raised living standards in rural areas and given rise to the “tajkuni”, a select group of people who have amassed enormous riches. The economy has been privatized to a large extent. Manufacturing of pharmaceuticals, automobile components, electrical appliances, and food processing are the main sources of income.
Major industries
Slovenia’s top industries are discussed below:
The sector of food and beverage
Among the most important economic sectors is the food and beverage industry. In 2015, there were about 704 companies registered which rose the following year, employing roughly 12,658 people. The industry brought in $2.27 billion in revenue. Along with the manufacturing of electrical goods and metalworking, this industry ranks among the third largest employers in processing activities. The largest industries in this field are those that process milk, produce drinks, mill and bake flour, and process meat. About 30% of the sector’s jobs are provided by businesses in the four industries. In 2009, the food and technology sector’s meat processing business was the most significant, accounting for 30% of sales revenue, 28% of the sector’s jobs, and 22% of value added. About 8% of registered businesses in the industry process milk, making up about one-tenth of the sector’s employment. The beverage industry, which produces wine, beer, and non-alcoholic drinks, is responsible for around 12% of the sector’s employment and 16% of its overall sales income.
Pharmaceuticals and chemicals
Among the most prosperous industries in this great nation are chemicals and medicines. About 700 businesses, or about 26,000 people, work in the sector. The export market accounts for over 72% of the sector’s sales. The sector’s mainstay is pharmaceuticals, which is followed by the manufacture of plastics and tire and inner tube fabrication. The nation’s chemical and pharmaceutical goods rank among the most well-liked in the European Union. The nation is likely to become a more desirable location for pharmaceutical companies as a result of the continuously rising need for high-quality healthcare. The pharmaceutical sector’s top performers and regional leaders in the creation of generic medications are The Sandoz Group and Krka. Helios, Jub, Color, Henkel, and Julian are among the well-known businesses in the chemicals sector. Sava Tires, a subsidiary of Goodyear Dunlop Tires Europe, is the sole tire producer in the nation.
Vehicle industry
About ten percent of the country’s GDP and fifteen percent of exports were generated by the car industry in 2011.
