Slovenia recorded a trade surplus amounting to €42.7mn in February, improving from €36.7mn surplus in January and swinging from an external trade deficit of €17.1mn in December, the Statistical Office announced on April 9.

Slovenia is mainly an export-oriented country and in 2017 the country’s external trade reached the highest level in the recent years. Slovenia’s exports are expected to continue growing in the coming years. According to the statistical office, a surplus in trade in goods in February has been uncommon in recent years, though this has changed recently as a surplus was recorded in February 2016 and in February 2017.

According to the latest Statistical Office data, in February the export/import ratio was 101.8%.

Both segments recorded growth in annual terms – exports were 11.5% higher than in February 2017, while imports were 9.8% higher than in the second month of last year. Compared to the average values of monthly exports and imports in 2017, the value of exports in February was 0.7% higher, while the value of imports was 1.2% higher.

In February, Slovenia exported goods worth €2.4bn and imported goods worth €2.3bn, the statistical office said on April 9.

In the second month of the year, Slovenia generated 77.5% of all exports and 79.5% of all imports in trade with the EU member states. Exports to these countries amounted to €1.8bn (a 10% increase over February 2017) and imports from them to €1.8bn (a 7.3% increase over February 2017). In February, the deficit in trade in goods with the EU member states amounted to €15.5mn.

When it comes to Slovenian trade with non-EU member countries, in February it exported goods worth €500mn (a 16.9% increase over February 2017) and imported goods worth about the same (a 21.1% increase over February 2017). Slovenia has had a surplus in trade in goods with these countries since February 2015, except in August 2017 and January 2018.

In the first two months of 2018, exports from Slovenia totalled €4.7bn, 11.7% higher than exports in the same period of 2017, while imports stood at €4.7bn, up 11.1% y/y. The external trade surplus amounted at €44.6mn and the export/import ratio was 101%, statistical office data indicated.