Business News

Slovenia's exports up 4% y/y in November, imports rise by 0.4%

Ljubljana, 09 January (STA) - Slovenia's exports and imports rose by 4% and 0.4% respectively in November 2019 compared to the year before, the Statistics Office said on Thursday, attributing this to the increased value of trade with EU non-member countries.

Exports amounted to EUR 2.94 billion, while imports reached EUR 2.85 billion in November.

The country posted a surplus in external trade in goods in November for the sixth time in 2019. This time it stood at EUR 88.1 million. The export-import coverage was 103.1%.

For quite a while, growth in trade has been strongly affected by trade in pharmaceutical products with Switzerland since the Swiss pharma giant Novartis opened a logistics and distribution hub at Ljubljana airport serving this part of Europe.

After to June, August and October, November was the fourth month in which a drop in trade with EU countries was recorded. Exports to these countries were down 3.6% to EUR 2.08 billion year-on-year, while imports from the rest of EU dropped by 6.6% to EUR 2.05 billion.

However, in the first eleven months of 2019, trade with EU member states was higher than in the same period of 2018: exports were up by 3.8% and imports by 3.2%.

Trade with third countries continued to grow in November. Exports to non-EU countries rose by 28.7% to EUR 856.7 million compared to November 2018 and imports from there increased by 24.5% to EUR 793.7 million.

In the first eleven months of 2019, the growth rates of exports to and imports from non-EU countries were 26.1% and 37.7%, respectively.

In the January-November period, Slovenia's exports grew by 8.8% to EUR 31.1 billion, while imports were up by 10.6% to EUR 31.3 billion.

A deficit of EUR 152.2 million was thus generated and the export/import ratio was 99.5%.

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