Exports up 2.1% in October year-on-year, imports down 8.5%

Ljubljana – Slovenia’s exports totalled EUR 3.2 billion in October, up by 2.1% on the same month in 2019. Imports meanwhile stood at EUR 2.9 billion, a 8.5% decrease year-on-year. Exports in the first ten months dropped by 3.2% on the same period in 2019 and imports decreased by 8.9%.

The value of October exports was the highest in the past decade. Although imports in October rose on September, they were still lower than in October 2019 when a ten-year high was recorded.

Following deficit in October 2019, this year’s October saw a surplus in external trade in goods. The surplus total was EUR 0.2 billion, a record-high figure taking into account the past decade. The export/import ratio was 107.4.

Slovenia meanwhile recorded another drop in external trade with EU member states, mainly on the back of a drop in trade with Italy, Austria, Germany, Slovenia’s main trade partner, and regarding exports, also Croatia.

Exports to EU countries in October totalled EUR 2.1 billion, down by 3.9% on the same month in 2019, and imports stood at EUR 2 billion, down by 7.5% year-on-year.

Slovenia’s exports with EU countries accounted for 66% of exports total and the country’s imports with these countries for 68.2% of all imports.

Meanwhile, Slovenia continued to record growth in exports when it comes to EU non-member countries (EUR 1.1 billion) in October and a decline in imports (EUR 0.9 billion). At the annual level, exports to these countries were higher by 16.1% and imports decreased by 10.7%.

A rise in exports to EU non-member countries was mainly due to growth in trade with Switzerland, whereas imports from these countries primarily dropped because of decreased trade with Russia.

Slovenia’s exports in the January-October period totalled EUR 27.3 billion, down 3.2% year-on-year, while imports in this period stood at EUR 25.9 billion, a 8.9% decrease year-on-year.

The first ten months yielded international trade surplus of EUR 1.5 billion. The export/import ratio was 105.6.