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Slovenia's exports up 2.4% in May, imports up 5.1%

Ljubljana, 05 July (STA) - Slovenia's exports in May stood at EUR 5.04 billion, or 2.4% more than in the same month last year, while imports were up by 5.1% to EUR 5.57 billion. A trade deficit of almost EUR 536,000 was recorded, with exports accounting for 90.4% of imports in May, the Statistics Office announced on Friday.

The value of exports to EU member states decreased by 4.4% to EUR 2.59 billion, while exports outside the EU increased by 10.7% to EUR 2.45 million.

On the other hand, imports from the EU member states in May dropped by 2.8% to EUR 2.69 billion and from outside the EU increased by 13.8% to EUR 2.88 billion.

The year-on-year growth in trade in goods continued in May, but was significantly slower than in April, the Statistics Office noted, adding that the growth can be attributed to trade with the countries outside the EU.

Much of the growth is connected with reexports in the pharmaceuticals industry and in trade with Switzerland, where the largest foreign investors in pharmaceuticals, Novartis and Sandoz, come from.

Without the reexports, exports to non-EU members would have increased by 7.8% to EUR 872 million.

In May, 51.4% of Slovenia's total exports was generated with the EU member states, while imports from the EU represented 48.3% of total imports.

Country-wise, Germany accounted for the largest share of Slovenia's exports of goods (24.2%), followed by Croatia (16.1%), Italy (14.7%) and Austria (8%).

In terms of imports, Germany was also the largest partner (23.4%), followed by Italy (19.9%), Austria (11.7%) and Croatia (8.2%).

In the first five months of the year, Slovenia's exports were up by 10.2% to EUR 25.4 billion, and imports increased by 12.8% to EUR 27.2 billion.

A trade deficit of EUR 1.78 billion was recorded, with the ratio of exports to imports standing at 93.5%.

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