Slovenia's merchandise exports increased by 0.8% year-on-year in June to hit an all-time monthly high of €5.3 billion. With imports falling over the same period, the national Statistics Office also reported the highest surplus on record.

Releasing the figures on 4 August, the office said the record value of exports was partly due to inflation, as volume-wise exports decreased year-on-year.

Imports also declined more in terms of quantity than value, but were still down 5.4% to €4.6 billion in June. As a result, €671 million was generated in trade surplus.

In the first six months of the year, exports increased by 12.2% on the same period last year to €28.5 billion, as imports rose by 3.3% to €28.7 billion. The export-import coverage was 99.3%.

However, data shows that exports growth slowed down from 27.1% in the first quarter to 0.3% in the second quarter. Imports contracted by 4.5% in the second quarter after rising by 12.1% in the first.

Decline in trade with EU countries

In the second quarter, Slovenia saw a decline in trade with EU countries. Meanwhile, trade with countries outside the EU fluctuated, primarily due to operations where value is added to imported goods before they are exported again.

Between April and end of June, exports to EU countries contracted by 5.4% and imports from those countries by 7.9% year-on-year.

In the same period, exports to markets outside the EU rose by 8.8%, while imports remained broadly flat (+0.3%).

In the first half of the year, Slovenia's most important export markets were Switzerland, Germany, Italy, Croatia and Austria. The highest value of goods was imported from Switzerland, China, Germany, Italy and Austria.

Compared to the same period of last year, exports to Switzerland and imports from China rose the most, whereas the value of imports from Russia fell by more than 80% in what was the biggest decline.