Slovenia: Exports and imports higher in August 2021 than in August 2020

Slovenia: Exports and imports higher in August 2021 than in August 2020

Slovenia in August 2021, recorded exports and imports higher than the year before, as exports amounted to EUR 2.8 billion and imports to EUR 3.3 billion. The result can be attributed to larger trade with the EU Member States as well as with non-member countries, said state Agency for Statistic.

In August 2021, Slovenia exported EUR 2.8 billion and imported EUR 3.3 billion of goods. The value of exports in August 2021 was 25.4% higher and of imports 39.4% higher than in August 2020. The ratio between export and import was 85.1%. The external trade deficit was recorded and it amounted to EUR 0.5 billion.

External trade was higher in August 2021 than two years ago (in August 2019), as the value of exports was 20.3% higher and of imports 40.6% higher than in August 2019.

In August 2021, the most significant increase in value terms of exported goods by the Standard International Trade Classification (SITC) was from the following product groups: medicaments, medicinal and pharmaceutical products (other than medicaments), aluminium and electric energy. They also contributed the most to total exports compared to August 2020 and August 2019. A significant share was contributed to export growth in August 2021 by the export of goods from the product group motor cars and petroleum oils and oils obtained from bituminous minerals (other than crude) compared to August 2020.

In value terms, the most significant increase in August 2021 compared to August 2020 and August 2019 at imports was from the product groups organo-inorganic compounds, heterocyclic compounds, nucleic acids and their salts, and sulphonamides. An increase was observed also from the following product groups: medicaments, railway vehicles (including hovertrains) and associated equipment, telecommunications equipment and aluminium. Imported goods from the product groups petroleum oils and oils obtained from bituminous minerals (other than crude) and electric energy increased in value terms in August 2021 compared to August 2020 and decreased in value terms compared to August 2019.

Slovenia recorded approximately two-thirds of total exports with the EU Member States. The value of exports amounted to EUR 1.9 billion, 26.6% more than in August 2020. The share of total imports to the EU Member States was a little less than two thirds, as imports amounted to EUR 1.9 billion, 27.2% more than in August 2020.

Slovenia’s external trade with EU non-member countries was also somewhat higher in August 2021 than in August 2020. Slovenia’s exports to those countries amounted to EUR 0.9 billion (which was 22.9% more than in August 2020), and imports to EUR 1.3 billion (which was 62.0% more than in August 2020). An increase in imports from non-member countries in August 2021 can be attributed to increased trade with China.

In the first eight months of 2021, Slovenia’s exports amounted to EUR 25.4 billion and imports to EUR 25.8 billion. Exports and imports were higher compared to the same period of 2020, exports by 19.5% and imports by 26.9%. External trade deficit amounted to EUR 0.3 billion in that period, while the export-import ratio was 98.6%.