The Slovenia Times

Slovenia's exports up 4%, imports 3.3% in 2016

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Exports stood at EUR 24.90bn and imports amounted to EUR 24.06bn for a EUR 838.6m trade surplus, up from EUR 635.1m in 2015. The exports/imports ratio was at 103.5%.

"Exports exceeded the pre-crisis level from 2008 already in 2011 and have been growing since, while imports exceeded the 2008 level only in 2015," the Statistics Office said.

The bulk of Slovenia's trade is generated with EU member states, while Slovenia also records a trade deficit with these countries, which has been on a decrease.

In the recent years Slovenia meanwhile recorded a trade surplus with non-EU countries, including in 2016.

Germany and Italy were the biggest trade partners of Slovenia last year both import- and export-wise among the EU countries. Serbia and Russia were the biggest export markets, while China was the biggest import market among non-EU countries.

The government think tank IMAD said as it commented on the news that the rate of growth of exports had increased last year and that it was in line with its expectations.

The growth of exports was based on a further growth of foreign demand and an improvement in export competitiveness, while the growth of imports was fuelled by the increasing private consumption, IMAD said.

The think tank expects similar trends this year, with exports remaining the key factor of economic growth in the country.

In December 2016 alone, exports stood at EUR 1.97bn or 6.6% more year-on-year, while imports amounted to EUR 1.95bn, up 1.1% year-on-year.

Trade surplus in December was at EUR 18.8m and the exports/imports ratio stood at 101%.

Slovenia exported EUR 1.42bn in goods to EU countries in December (+6.6% year-on-year), and imported EUR 1.56bn (-0.5% year-on-year).

To non-EU countries, Slovenia exported EUR 550.5bn in goods, which is 6.3% more year-on-year, while importing EUR 393.6m in goods, up 8% year-on-year.

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