Slovenia: Exports in the first half of 2020 down 4.2% yoy

Slovenia: Exports in the first half of 2020 down 4.2% yoy

Slovenia exports in June 2020 fell in June 2019 by 4.2% (amounting to EUR 2,682.4 million) and imports were lower by 5.1% (amounting to EUR 2,562.4 million). In the first half of 2020, exports were 5.6% lower than in the same period of 2019, while imports fell by 10.3%.

“Slovenia’s exports and imports in June 2020 decreased compared with June 2019; exports were 4.2% lower (amounting to EUR 2,682.4 million), imports were 5.1% lower (amounting to EUR 2.562.4 million). After significant annual decreases in the value of external trade in this year’s April and May, the effect of the epidemic has been reduced in June,” said Slovenia Statistic Agency on Friday.

In June 2020 too, a surplus was generated in external trade in goods, as in all months of this year so far, and amounted to EUR 120.0 million. The export-import ratio was 104.7%.

In June 2020, the value of external trade was the highest with products from the divisions Medicinal and pharmaceutical products and Road vehicles. The decreased value of trade in goods compared with June 2019 was most affected by the lower value of trade with products from the division Petroleum and petroleum products, value of exports of these products decreased by more than a half, while value of imports decreased by more than a third.

In June 2020, Slovenia’s exports to EU Member States amounted to EUR 1,762.1 million (down by 11.4% over June 2019), and imports amounted to EUR 1,702.7 million (down by 11.0% over June 2019). The decrease of value of trade with this group of countries was most affected by the decreased trade with Italy and Austria, on the side of exports also with Croatia.

Exports to EU non-member countries in June 2020 amounted to EUR 920.3million (up by 13.5% over June 2019), and imports from those countries amounted to EUR 859.7 million (up by 9.3% over June 2019). Switzerland was Slovenia’s most important trade partner among those countries and an increase of value of trade with this country (at almost 60%) has affected the increase of value of trade with EU non-member countries the most. Exports to Russia and imports from China were also higher than in June 2019.

According to Statistic Agency report, exports in the first six months of 2020 amounted to EUR 15,906.1 million (down by 5.6% over the same period 2019), and imports amounted to EUR 15,077.0 million (down by 10.3% over the same period 2019). An external trade surplus was recorded in the first half of 2020 (amounting to EUR 829.1 million), while the export/import ratio was 105.5%.

After recording growth in external trade in goods in the first quarter of 2020, the second quarter (particularly April and May) was significantly denoted by the epidemic. In the first quarter the growth of value of exports compared with the same period of 2019 was 6.6% and of imports 3.2%. In the second quarter of 2020 at the annual level value of exports decreased by 17.3%, while value of imports decreased by 22.8%./ibna