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In the period from January to December 2018 Slovenia’s exports went up by 9.2% and imports by 11.0% over the same period of 2017. In the mentioned period, the surplus in trade in goods was recorded, but somewhat lower than in 2017.
Exports and imports in December 2018 higher than in December 2017
Exports in December 2018 amounted to EUR 2.2 billion (up by 2.0% over December 2017) and imports to EUR 2.4 billion (up by 6.0% over December 2017). December's exports and imports, in absolute terms, are the highest in recent years; however, they do not rank high in comparison with absolute values in the remaining months of 2018. The December 2018 value of exports ranks only eleventh in this year (lower was only August value), while the December 2018 value of imports ranks ninth before the January, February and August 2018 values. Compared to the average value of monthly exports and imports in 2017, exports were lower by 4.8% and imports higher by 3.6%.
The December 2018 deficit was the highest deficit in this year, amounting to EUR 140.2 million. December 2018 was already the fourth month of 2018 with a trade deficit in addition to May, September and October. The export/import ratio in December 2018 was 94.1%.
External trade in goods with both groups of countries in December 2018 higher than in December 2017
In December 2018 the growth in trade in goods was again recorded both with EU Member States and EU non-member countries. Compared to December 2017 Slovenia's exports to EU Member States were higher by 0.3% (they amounted to EUR 1.6 billion) and imports by 1.2% (they amounted to EUR 1.8 billion). In trade with EU Member States, Slovenia thus generated more than three-fifths of total exports and imports of goods (72.6% of total exports and 74.6% of total imports) in December 2018. December exports to this group of countries were the lowest in the mentioned year, while imports were the second lowest. The lowest value of imports was recorded in August 2018.
Slovenia’s exports and imports to EU non-member countries in December 2018 both amounted to EUR 0.6 billion. Exports to this group of countries were 6.7% higher and imports 23.1% higher than in December 2017. In December 2018, both exports and imports were among the five highest export and import values in this group of countries in the mentioned year.
Slovenia’s external trade in goods in 2018
As in 2017 general growth in external trade in goods was recorded in 2018. Compared to the previous year exports increased by 9.2% and imports by 11.0%. The absolute yearly values of exports and imports were the highest so far. Exports amounted to EUR 30.9 billion in 2018, while imports amounted to EUR 30.6 billion.
In 2018 the surplus in total external trade in goods amounted to EUR 0.2 billion (with the export/import ratio of 100.8%), but this surplus was the lowest recorded so far. In the mentioned year, Slovenia generated a surplus in trade in goods with EU non-member countries, as in several consecutive years, while it also generated a deficit with EU Member States, which was the second lowest since 2005 right after the 2014 deficit.
In external trade in goods in 2018 Slovenia generated more than half of its total exports and imports with Germany, Italy, Croatia, Austria and France. In 2018, these countries were also the most important trade partners of Slovenia. In 2018 Slovenia exported most goods to Germany (20.3% of total exports of goods), followed by Italy (12.4%), Croatia (8.1%), Austria (7.6%) and France (5.6%). Slovenia also imported most goods from these countries, namely 18.1% from Germany, 15.0% from Italy, 10.5% from Austria, 5.5% from Croatia and 4.2% from France. Slovenia in 2018 generated 77.1% of all exports and 78.3% of all imports in trade with EU Member States.
In 2018 the most important export groups of products in the total export of goods were products from the group of road vehicles, medicinal and pharmaceutical products, and products from the group of electrical machinery, apparatus and appliances. Products from the group of road vehicles also contributed the most to the total import of goods, followed by products from the groups of petroleum, petroleum products and related materials, and electrical machinery, apparatus and appliances.
Exports and imports of goods, Slovenia
1) Not applicable.