Despite the growth of imports outpacing the growth on exports, Slovenia still posted a trade surplus of EUR 45.3m and the export/import ratio was 102.2%.

A surplus in merchandise trade in January was recorded for the fourth consecutive year, the highest being in January 2016.

As a rule external trade in January is low compared to other months but this time the values were above the average levels of monthly exports and imports in 2016, by 0.6% and 1.9%, respectively.

The EU remains Slovenia's biggest trade partner, accounting for 77.9% of the country's exports and 80.5% of imports in January.

Exports to the EU were up 11.8% to EUR 1.63bn and imports rose by 18.4% to EUR 1.65bn, generating a deficit in January for the first time since January 2013.

Meanwhile, a ten-year high January deficit was recorded in trade with non-EU countries. Exports there increased by 21.4% year-on-year to EUR 462.6m and imports increased by 16% to EUR 398.2m.