Ljubljana - Slovenia recorded robust trade growth in July as merchandise exports rose by 34.5% year-on-year to EUR 4.6 billion. Imports however grew at an even faster pace, 36%, to hit EUR 4.7 billion, the Statistics Office said.

EU countries accounted for 57.5% of exports and just over 59% of all imports, the former growing by 23.7% and the latter by 26.9%.

Trade with third countries recorded significantly higher growth rates as both exports and imports surged by roughly 52%.

Nearly two-thirds of trade with third countries involves what is called processing, which is defined as the modification, making, composition, improvement and renovation with the aim to produce new or significantly improved products.

Between January and July exports expanded by 32.6% to EUR 30.1 billion, whereas imports hit 32.5 billion, an increase of nearly 46%.

The export-import ratio was 92.7%.