Exports and imports of goods, Slovenia, May 2020
Exports and imports in May decreased less than in April
Foreign trade in goods in May 2020 was lower than in May 2019, yet the annual decrease was smaller than in april. In the first five months of 2020 both exports and imports decreased compared to the same period of 2019, exports by 6.0% and imports by 11.5%.
In May 2020 exports amounted to EUR 2,377.8 million (down by 19.8% over May 2019) and imports to EUR 2,205.8 million (down by 22.4% over May 2019). In the first three months of this year annual growth of exports was recorded, then international trade declined due to the epidemic. On the side of imports a small decline in value was recorded already in March, while a significant annual decline in April was also due to exceptionally high value of imports in April last year. In May the negative effect of the epidemic on external trade in goods was somewhat reduced.
In May 2020 the export/import ratio was 107.8%; a surplus of EUR 172.1 million was generated in external trade in goods. With this value, the May external trade surplus is the second highest in this year and the highest of the four May surpluses recorded since 2010.
Trade in goods in May 2020 with EU Member States lower, with EU non-member countries higher than in May 2019
Exports to EU Member States in May 2020 amounted to EUR 1,529.9 million (i.e. 29.0% less than in May 2019) and imports from EU Member States amounted to EUR 1,511.8 million (i.e. 30.7% less than in May 2019). Trade with this group of countries grew continuously from October 2016 till the second half of last year, when the effects of economic cooling began to show. The epidemic negatively affected trade with the EU already in March 2020 and even more in April and May.
As regards trade with EU non-member countries in May 2020, Slovenia exported goods worth EUR 848.0 million or 4.5% more than in May 2019 and imported goods worth EUR 693.9 million or 5.0% more than in May 2019. Since the end of 2018, we have been recording high growth rates of trade with this group of countries, the trend continued in May, however the growth was significantly reduced by the epidemic.
External trade in goods in the first five months in 2020 lower than in 2019
In the first five months of 2020, Slovenia’s exports amounted to EUR 13,209.5 million and imports to EUR 12,482.6 million. Compared with the same period of the previous year exports grew by 6.0% and imports by 11.5%.
Slovenia recorded an external trade surplus in all of the first five months of 2020, the surplus in all five months combined ammounted to EUR 726.9 million. In this period the export/import ratio was 105.8%.
Exports and imports of goods, Slovenia
1) Not applicable.
With the exit of the United Kingdom from the EU (February 2020), Slovenia's trade in goods with the mentioned country is now being considered in the scope of Slovenia's trade with EU non-member countries (Extrastat), and no longer in trade with EU Member States (Intrastat). The recalculation has also been made for the previous periods of 2020 and when calculating growth rates also for the corresponding 2020 periods. Due to the mentioned adjustment of data, the share of Slovenia's trade with EU Member States in Slovenia's total trade decreased and the share of Slovenia's trade with EU non-member countries increased accordingly.