Diminishing external imbalances

D3

SENSITIVE RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in November 2021.

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GDP USD 19.8bn (World ranking 113, World Bank 2020)
Population 3.3mn (World ranking 132, World Bank 2020)
Form of state Parliamentary republic
Head of state Zoran TEGELTIJA (Chairman of the Council of Ministers)
Next elections 2022, presidential and legislative
  • A currency board has helped to provide a stable exchange rate and fairly low inflation
  • Comfortable level of foreign exchange reserves
  • Manageable external debt-service
  • Limited transfer and convertibility risks
  • Persisting ethnic-nationalistic pressures. Highly ethnically fragmented government hinders efficient policymaking
  • Widespread poverty and high unemployment
  • Small manufacturing base concentrated on low-value-added products
  • High external debt stock
  • High vulnerability to external shocks, including natural disaster
  • Dependence on on grants and low-interest loans from international creditors
  • Weak business environment

Trade structure by destination/origin

(% of total, annual 2020)

Exports Rank Imports
Germany 13.8%
1
13.9% Serbia
Croatia 13.0%
2
13.7% Croatia
Italy 10.4%
3
11.1% Germany
Slovenia 10.4%
4
9.6% Italy
Austria 10.3%
5
8.5% Slovenia

Trade structure by product

(% of total, annual 2020)

Exports Rank Imports
Manufactures of metal, n.e.s. 9.1%
1
5.9% Road vehicles
Furniture and parts thereof 7.5%
2
5.4% Petroleum, petroleum products and related materials
Footwear 7.3%
3
4.3% Electrical machinery, apparatus and appliances, n.e.s.
Miscellaneous manufactured articles, n.e.s. 6.2%
4
4.3% Medicinal and pharmaceutical products
Articles of apparel & clothing accessories 5.6%
5
4.3% Iron and steel
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