Eslovènia: Visió econòmica i política
Slovenia is highly open to foreign trade, which represents about 146.5% of the country's GDP (World Bank, latest data available). This high level of openness makes Slovenia very dependent on the economic health of its main commercial partners: Slovenia is integrated within German and Austrian production chains for automobiles and electrical and electronic equipment, and in Swiss chains for the pharmaceuticals industry, and generates more than half of its goods exports from these four sectors. Due to the drop in global demand during the global financial crisis and the economic difficulties of the EU countries, Slovenia's exports had decreased. Since 2011, however, exports have been increasing continuously. The largest share of total exports in 2020 was contributed by medicaments (19.2%), motor cars (8.6%), parts of motor vehicles (2.6%), and petroleum oils (1.9%); with imports following a similar trend: medicaments (14.6%), motor cars (4.8%), petroleum oils (3.8%), and parts of motor vehicles (2.5%).
According to data by Comtrade, in 2020 the main export destinations were Germany (18.0%), Switzerland (12.1%), Italy (9.3%), Croatia (8.0%) and Austria (6.4%); whereas imports came chiefly from Germany (14%), Switzerland (12.7%), Italy (10.8%), Austria (7.5%) and China (7.3%). Slovenia has an external trade deficit with EU member states that has been decreasing in recent years. On the other hand, the country has had an external trade surplus with EU non-member countries.
Slovenia’s trade balance is structurally positive: in 2020 the trade surplus stood at 9.2% of GDP, according to the World Bank. Both exports and imports of goods decreased during the year: exports stood at USD 44.8 billion in 2020 stable y-o-y), while imports were at USD 42.1 billion (-4.3%). The country is also a net exporter of services, with exports totalling USD 7.8 billion and imports at USD 5.5 billion (-18% and -13.6%, respectively).
According to the latest figures from the Slovenian statistical office, compared to 2020, in 2021 exports were higher by 19.8% (amounting to EUR 39.4 billion) and imports by 30.8% (amounting to EUR 42.0 billion). The export/import ratio in 2021 was 93.8%, and the deficit amounted to EUR 2.6 billion (the highest in the past ten years).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 36,078 | 42,267 | 44,007 | 42,120 | 57,560 |
Exports of Goods (million USD) | 38,443 | 44,200 | 44,943 | 44,797 | 57,352 |
Imports of Services (million USD) | 5,055 | 6,364 | 6,359 | 5,492 | 6,930 |
Exports of Services (million USD) | 8,184 | 9,559 | 9,554 | 7,831 | 9,763 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 157.3 | 161.1 | 158.8 | 146.2 | 160.9 |
Trade Balance (million USD) | 1,830 | 1,511 | 1,456 | 2,665 | 1,072 |
Trade Balance (Including Service) (million USD) | 4,385 | 4,599 | 4,707 | 5,019 | 3,969 |
Imports of Goods and Services (Annual % Change) | 10.7 | 7.1 | 4.7 | -9.6 | 17.6 |
Exports of Goods and Services (Annual % Change) | 11.1 | 6.2 | 4.5 | -8.6 | 14.5 |
Imports of Goods and Services (in % of GDP) | 74.1 | 76.3 | 75.1 | 68.5 | 77.3 |
Exports of Goods and Services (in % of GDP) | 83.1 | 84.8 | 83.7 | 77.7 | 83.6 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 4.9 | 3.3 | 4.6 | 4.9 | 4.5 |
Volume of imports of goods and services (Annual % change) | 6.2 | 3.7 | 5.0 | 5.2 | 4.9 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Germany | 17.3% |
Switzerland | 13.4% |
Italy | 10.6% |
Croatia | 7.9% |
Austria | 6.5% |
See More Countries | 44.2% |
Main Suppliers (% of Imports) |
2021 |
China | 13.1% |
Germany | 12.9% |
Switzerland | 10.9% |
Italy | 10.4% |
Austria | 6.8% |
See More Countries | 45.9% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023