Trade surplus at EUR 724m was the second highest since 2000; the figure was only eclipsed in 2016.

According to the Statistics Office, the export-to-import ratio stood at 102.6%, with the country recording external surplus since 2014.

EU member states remained the most important partners, as more than three-quarters (76.7%) or EUR 21.7bn worth of Slovenian goods were exported to the single market. The country imported 80% or over EUR 22bn worth of goods from EU members.

Slovenia recorded a trade deficit of EUR 366.5m in the EU, but the Statistics Office said it had been narrowing over the past few years.

Meanwhile, Slovenia has recorded a surplus in trade with non-EU members over the past few years. Last year it stood at EUR 1.1bn; the country exported EUR 6.6bn worth of goods and imported EUR 5.5bn worth of goods from the rest of the world.

Broken down by countries, Slovenia exported the most to Germany (20.4%), Italy (11.5%), Croatia (7.6%), Austria (7.6%) and France (5.7%).

Essentially the same order was recorded in imports: 19.1% came from Germany, 15.6% from Italy, 10.7% from Austria, 5.4% from Croatia and 4.4% from France.

Automotive industry contributed the most to exports, followed by electrical machinery and appliances. In imports, automotive industry was also the biggest contributor, followed by crude oil and petroleum products.

In December alone, exports increased by 9.2% to EUR 2.2bn year-on-year and imports by 10.1% to more than EUR 2.2bn. Both figures were above the 2017 average. Export-to-import ratio was at 99.2%, with the deficit at EUR 17m.