Export-oriented Slovenia reports trade deficit in November

Export-oriented Slovenia reports trade deficit in November
By bne IntelliNews January 9, 2018

Slovenia recorded a €2.5mn deficit in trade in goods in November, which was the second month in 2017 with a negative export-import ratio (99.9%), statistical office announced on January 9.

Slovenia is mainly an export-oriented country, and exports are expected to continue growing in the coming years despite the decreases recorded in November and previously in August, which is usually the weakest month in the year. 

According to the statistical office, the deficit in November can be explained by somewhat higher imports from EU member states. Also, the value of imports in November was the largest in 2017 (exports were fourth).

In November exports totalled €2.58bn and imports amounted to €2.59bn. Compared to November 2016, both increased; exports by 16.2% and imports by 14.8%. In November the values of exports and imports were also higher than the average value of monthly exports and imports in 2016: exports by 23.8% and imports by 28.3%.

In the eleventh month of the year, Slovenia generated 77.7% of all imports and 81.0% of all exports in trade with EU member states. Exports to these countries amounted to €2bn (up by 19.1% over November 2016) and imports from them to €2.09bn (up by 16.1% over November 2016).

Meanwhile, exports to non-EU member countries in November amounted to €574.8mn (up by 6.9% over November 2016) and imports from them to €489mn (up by 9.7% over November 2016).

Slovenia exported most products from the group of motor cars and other motor vehicles and the group of medicaments, and imported most products from the group of motor cars and other motor vehicles and the group of petroleum oil and oils obtained from bituminous minerals, in November.

Slovenia’s exports in January-November amounted to €26.07bn, increasing 13.5% y/y. Meanwhile, imports stood at €25.29bn, going up by 14.4% y/y. In January-November the external trade surplus amounted to €776.6mn and the export/import ratio was 103.1%, the statistical office announced on January 9.

 

Data

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