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Foreign trade figures of Slovenia

Foreign Trade in Figures

Slovenia is highly open to foreign trade, which represents about 186% 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: the country 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. The largest share of total trade in 2023 was medicinal and pharmaceutical products, constituting approximately one-third (34%) of the total export value. Following closely were products in the categories of road vehicles (8.4%), electrical machinery, apparatus, and appliances (6.7%), general industrial machinery and equipment (4.1%), and petroleum, petroleum products, and related materials (3.7%). Regarding imports, organic chemicals took precedence, accounting for 19.0% of the total imports and displaying a twofold increase compared to the previous year. They were succeeded by medicinal and pharmaceutical products (14.3%), road vehicles (8.0%), petroleum, petroleum products, and related materials (6.1%), and electrical machinery, apparatus, and appliances (5.2% - data Statistics Slovenia).

Data from Statistics Slovenia show that in 2023 the main export destinations were Switzerland (27.3% of the total), Germany (13.5%), Italy (8.6%), Croatia (7.8%), and Austria (5.7%); while the country imported the most in terms of value from Switzerland (16.4%), China (13.0%), Germany (12.2%), Italy (10.3%), and Austria (7.2%). The EU accounted for 55.5% of total exports and 55.9% of imports.

Slovenia’s overall trade balance is structurally positive; however, the country is a net importer of goods: in 2022, both exports and imports of goods stood at USD 69.7 billion, while services’ exports reached USD 11.6 billion against USD 7.8 billion in imports. The latest data from Statistics Slovenia show that, in 2023, the country exported EUR 54.9 billion worth of goods (+4.4% y-o-y) while importing EUR 56.9 billion (+0.6%).

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 44,00742,22557,56069,76171,445
Exports of Goods (million USD) 44,94344,83257,35269,71673,034
Imports of Services (million USD) 6,4385,8017,3988,0168,559
Exports of Services (million USD) 9,6937,9919,99211,65612,746

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 161.1158.8146.2160.9179.1
Trade Balance (million USD) 1,5111,4562,6651,072-2,288
Trade Balance (Including Service) (million USD) 4,5994,7074,8553,6661,352
Imports of Goods and Services (Annual % Change) 7.14.7-9.617.69.8
Exports of Goods and Services (Annual % Change) 6.24.5-8.614.56.5
Imports of Goods and Services (in % of GDP) 76.375.168.577.388.8
Exports of Goods and Services (in % of GDP) 84.883.777.783.690.4

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -2.02.94.34.34.5
Volume of imports of goods and services (Annual % change) -5.15.25.14.34.6

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Slovenia is a member of the EU since 1st May, 2004 and as such is a member of the EU Customs Union.
 

Main Partner Countries

Main Customers
(% of Exports)
2023
Switzerland 27.2%
Germany 13.5%
Croatia 7.8%
Austria 5.7%
France 3.3%
See More Countries 42.5%
Main Suppliers
(% of Imports)
2023
Switzerland 16.9%
China 15.7%
Germany 10.7%
Austria 5.6%
Croatia 3.8%
See More Countries 47.3%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

55.3 bn USD of products exported in 2022
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 25.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 4.8%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.5%
Electrical energyElectrical energy 2.8%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products 2.4%
See More Products 60.5%
59.6 bn USD of products imported in 2022
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 13.1%
Heterocyclic compounds with nitrogen hetero-atom[s...Heterocyclic compounds with nitrogen hetero-atom[s] only 8.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.0%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.6%
Electrical energyElectrical energy 3.5%
See More Products 63.9%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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Latest Update: May 2024