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This report provides a comprehensive economic analysis of Slovenia, Croatia, and Serbia, focusing on key indicators such as GDP, inflation, market capitalization, and growth trends from 2006 to 2008. Slovenia, an EU and EMU member, showcases a GDP per capita of €15,167 in 2006, while Croatia, an EU accession country, reports €7,706. Serbia, pending EU integration, shows a GDP of €3,280. The document highlights anticipated growth, inflation rates, and market performance in the Balkans, addressing political and economic risks as well.
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BALKANS – SELECTED COUNTRIES OVERVIEW SLOVENIA, CROATIA & SERBIA Uroš Ivanc Executive Director – Finance Triglav Insurance Company Ltd.
Selected Countries Croatia Slovenia Serbia
Slovenia • EU & EMU Member • 2 Million Residents • GDP per capita 2006: 15.167 EUR (19.024 USD) • Growth in 2006: 5,7 % • Exp. GDP Growth: • 2007: 5,8 % • 2008: 4,6 % • Inflation 2006: 2,8 % (year-end) • Exp. 2007: 4,3 % • Exp. 2008: 2,9 % Source: BS, UMAR, IMF
Slovenia – cont’d • Market cap. (shares): 19,5 bn EUR • Average Daily Turnover: 14,4 mln EUR • Top 5 shares: Source: LJSE
Croatia • EU Accession Country • 4,4 Million Residents • GDP per capita 2006: 7.706 EUR (9.666 USD) • Growth in 2006: 4,8 % • Exp. GDP Growth: • 2007: 5,0 % • 2008: 5,0 % • Inflation 2006: 3,2 % (year-end) • Exp. 2007: 2,8 % • Exp. 2008: 2,3 % Source: HNB, UMAR, IMF
Croatia – cont’d • Market cap. (shares): 43,5 bn EUR • Average Daily Turnover: 19,1 mln EUR • Top 5 shares: Source: ZSE, HNB
Serbia • Pending for EU Integrations • 7,4 Million Residents (without Kosovo) • GDP per capita 2006: 3.280 EUR (4.114 USD) • Growth in 2006: 5,7 % • Exp. GDP Growth: • 2007: 5,0 % • 2008: 5,0 % • Inflation 2006: 6,6 % (year-end) • Exp. 2007: 6,0 % • Exp. 2008: 6,0 % Source: NBS, UMAR, IMF
Serbia – cont’d • Market cap. (shares): 17,7 bn EUR • Average Daily Turnover (Est.): 7,6 mln EUR • Top 5 shares (estimates): Source: BELEX
Performance Source: Bloomberg, LJSE, ZSE, BELEX
Risks • Politics • Croatia: EU entry date, Cooperation with ICTY • Serbia: Kosovo, Cooperation with ICTY, EU accession invitation • Exchange rate • Croatia – HRK • Serbia – RSD • Liquidity – Average Daily Turnover per Stock Traded • Slovenia: 154.760 EUR, Top 5: 1.038.520 EUR • Croatia: 73.919 EUR, Top 5: 575.175 EUR • Serbia (est.): 18.565 EUR (Jan.-Sep.), 9.817 EUR (Sep.), 22.158 EUR (Jan.) • Top 5: 124.342 EUR