In the period January-December 2020, Slovenia’s exports and imports fell by 2.0% and 6.0% respectively during the same period in 2019. In contrast to 2019, in this period a surplus of trade in goods was recorded.
“Foreign trade was quite modest in December 2020 as the total value of exports (2.5 billion euros) was only the ninth among the monthly results of last year, while the total value of imports (2.8 billion euros) was the sixth among the monthly results of the year passed. “The value of exports was lower only in April, May and August, while the value of imports was lower in the months from April to September,” the Statistics Office announced.
However, exports in December 2020 were 6.9% higher than in December 2019. Imports in December 2020 exceeded imports in December 2019 by 1.1%. The value of exports in December 2020 was lower than the average value of monthly exports in 2019 (by 9.9%), while the value of imports in December 2020 was lower than the average value of monthly imports in 2019 (by 2.0%). In December 2020, a trade deficit in goods was recorded; amounted to 0.3 billion euros. The export / import ratio was 90.5%.
For Slovenia’s exports and imports, EU Member States remain the main markets. In 2020, Slovenia’s exports to EU Member States accounted for 66.9% of total exports, while imports from EU Member States accounted for 67.5% of total imports. In December 2020, Slovenia exported 6.2% more to EU Member States and imported 3.2% less VV. Trade value with EU member states in December 2020 amounted to 1.7 billion euros for exports and 1.8 billion euros for imports. Compared to other months in 2020, December exports to EU Member States were ranked ninth, while imports were ranked eighth.
The value of goods that Slovenia exported to non-EU countries in December 2020 was 8.5% higher than last year, reaching 0.8 billion euros. The value of goods that the country imported from non-EU countries was 10.1% higher than in December 2019 and reached 1.0 billion euros. Compared to other months in 2020, December exports were ranked tenth and imports second.
According to official data, Slovenia’s exports in 2020 amounted to 32.9 billion euros, while imports to 32.0 billion euros. Export and import values were lower than in 2019. The export / import ratio was 102.7% and the foreign trade surplus reached 0.9 billion euros; was the second highest in the last ten years.
Slovenia’s trade in 2020 was characterized by declining exports at a lower rate than imports. Exports were 2.0% lower than in 2019, while imports were 6.0% lower than in 2019. Exports decreased mainly due to lower trade with EU Member States, while trade with non-EU countries even increased . In terms of major trading partners, compared to 2019, exports to Germany and Switzerland increased the most, while exports to Italy and France recorded the steepest dip. The largest increase was recorded in exports of goods from the product group of medical and pharmaceutical products, which are also the largest contributor to total exports. Products from the group of road vehicles (including vehicles with airbags) contributed to the second largest share of total exports.
The decline in imports also reflected lower trade with EU Member States, while trade with non-EU countries grew at a rate similar to that of exports. Regarding the main trading partners, compared to 2019, imports from Switzerland and China recorded the largest increase, while imports from Austria, Italy and Croatia were hit the hardest. Similar to exports, the largest contributor to total imports deriving from the group of products of medical and pharmaceutical products, followed by products from the group of products of road vehicles (including vehicles with airbags).