Slovenia’s exports in 2017 amounted to EUR 28.2 billion (a 13.1% increase over 2016) and imports to EUR 27.5 billion (a 14.2% increase over 2016).
Exports and imports in December 2017 higher than in December 2016
In December 2017 both exports and imports increased compared to December 2016, the former by 9.2% (amounting to EUR 2.2 billion) and the latter by 10.1% (amounting to EUR 2.2 billion). The values of exports and imports were also higher than the average value of monthly exports and imports in 2016: exports by 5.8% and imports by 10.4%. Compared to other months in 2017, in absolute terms December's exports and imports are eighth.
The export/import ratio in December 2017 was 99.2%. The external trade deficit amounted to EUR 17.1 million. The deficit in trade in goods was influenced by lower exports to EU Member States and by higher imports from EU non-member countries. December 2017 was the third month of this year with the external trade deficit; it was also recorded in August and November.
Trade in goods with EU Member States higher in December 2017 than in December 2016
In December 2017 Slovenia generated 73.8% of all exports and 77.9% of all imports in trade with EU Member States. Exports to these countries amounted to EUR 1.6 billion (up by 10.8% over December 2016) and imports from them to EUR 1.7 billion (up by 6.7% over December 2016). In December exports to EU Member States were second lowest and imports fifth lowest in 2017.
Exports to EU non-member countries amounted to EUR 0.6 billion (up by 5.1% over December 2016) and imports from them to EUR 0.5 billion (up by 24.3% over December 2016). In December exports to EU non-member countries were fifth and imports second highest in 2017.
General trends in external trade in 2017
Slovenia’s trade in goods continued to grow in 2017. Exports in 2017 were 13.1% higher than exports in 2016 (EUR 28.2 billion), while imports were 14.2% higher (EUR 27.5 billion). Exports exceeded the pre-crisis level of 2008 already in 2011 and have been growing ever since, while imports exceeded the level of 2008 in 2015.
The export/import ratio was 102.6% and the external trade surplus amounted to EUR 0.7 billion; it was second highest since 2000 (the highest was recorded in 2016). The external trade surplus has been recorded since 2014.
The markets of EU Member States remained the most important for Slovenia’s exports and imports in 2017, too: 76.7% of total exports of goods and 80.1% of total imports of goods were generated on the markets of EU Member States. Exports to those countries have been increasing since 2013 and imports since 2014. Slovenia has an external trade deficit with EU Member States. That deficit has been decreasing in recent years. On the other hand, Slovenia has had an external trade surplus with EU non-member countries, which continued also in 2017.
In 2017, Slovenia exported most goods to Germany (20.4% of total exports of goods), followed by Italy (11.5%), Croatia (7.6%), Austria (7.6%) and France (5.7%). Most of the goods were imported from the same countries: 19.1% of total imports of goods from Germany, 15.6% from Italy, 10.7% from Austria, 5.4% from Croatia and 4.4% from France. In all the years from 2000 onwards these countries were our most important trading partners. In 2017, trade in goods with France and Italy strengthened the most.
The largest share of total exports in 2017 was contributed by products from the group of road vehicles. In terms of value, the greatest rise in exports was registered in this group. The second largest share was contributed by products from the group of electrical machinery, apparatus and appliances. The largest share of total imports in 2017 was also contributed by products from the group of road vehicles. The second largest share was contributed by products from the group of petroleum, petroleum products and related materials.
Exports and imports of goods, Slovenia
1) Not applicable.