The Slovenians have pursued internal economic restructuring with caution. The first phase of privatization (socially owned property under the SFRY system) is now complete, and sales of remaining large state holdings are planned for next year. Trade has been diversified toward the West (trade with EU countries make up 66% of total trade in 2000) and the growing markets of central and eastern Europe. Manufacturing accounts for most employment, with machinery and other manufactured products comprising the major exports. Labor force surveys put unemployment at approximately 6.6% (Dec. 2000), with 106,153 registrations for unemployment assistance. Inflation has remained below double-digit levels, 6.1% (1999) and 8.9% (2000). Gross domestic product grew by about 4.8% in 2000 and is expected to post a slightly lower rate of 4.5% in 2001, as export demand lags. The currency is stable, fully convertible, and backed by substantial reserves. The economy provides citizens with a good standard of living.