July exports down by 2.9% y/y, imports by 10.9%

  • Written by  J.S., STA
  • Comments:DISQUS_COMMENTS
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Slovenia's exports amounted to EUR 2.94 billion in July, a 2.9% year-on-year decrease, while imports were down by 10.9% to EUR 2.74 billion, which made for the second highest external trade surplus in a decade. In the first seven months of 2020, exports declined by 4.3% and imports by 10.0%, but a surplus was generated each month.

 

Compared with average monthly values of exports and imports in 2019 exports in July 2020 were higher by 5.1%, while imports were lower by 3.6%, show data released by the Statistics Office on Wednesday.

In July, the surplus amounted to EUR 200.5 million and the export to import ratio was 107.3%. In the past decade, the surplus was bigger only in September 2017.

Slovenia generated 67.6% of all July exports and 68.6% of all imports in trade with EU member states. Exports to fellow member states amounted to EUR 1.99 billion, down by 8.6% over July 2019, and imports to EUR 1,88 billion, down 13.8%. The lower value of trade with petroleum and petroleum products played an important role in the decreases.

Exports to EU countries amounted to EUR 951.9 million, up by 11.8% over July 2019, and imports to EUR 859.7 million, down by 3.9%. The export growth was generated primarily by trade in medicinal and pharmaceutical products, while imports were mostly down due to lower trade in petroleum and petroleum products.

Meanwhile, Slovenia's exports in the first seven months amounted to EUR 19.03 billion and imports to EUR 17.90 billion, year-on-year decreases of 4.3% and 10.0% respectively. In total for the period, the trade surplus amounted to EUR EUR 1.12 billion, the export to import ratio being 106.3%.

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