The number one Slovenian trade partner? Just a few years ago the answer to that question would be Germany. Recently, however, Germany was replaced by Switzerland with the highest share of both Slovenia’s imports and exports.

Exports to Switzerland in 2023 exceeded 15 billion euros – 27 percent of the total. This is mostly thanks to the one of the largest logistics hubs for pharmaceutical products in Europe. This key facility for the Swiss Novartis pharma group is located at Ljubljana’s airport and is operated by another important Swiss company, logistics giant Kuehne and Nagel.

The choice of location is not a coincidence. As Swiss media reported earlier this year, Novartis and its generic pharmaceutical focused sister company Sandoz have “put a strong bet” on Slovenia. Novartis took over Slovenian pharma company Lek in 2002 and has invested heavily both in manufacturing and R&D. Novartis is the largest investor company in Slovenia with 3.7 billion euros (3.5 billion Swiss francs). With a share exceeding 11 percent Switzerland is the third largest source country for FDIs in Slovenia. Investors include medical equipment manufacturer Belimed, rubber producer Lonstroff, fiber cement product manufacturer Swisspearl, sanitary elements and systems manufacturer Geberit, and metal product company Limec Solutions. The Emily Frey Group is one of the leading car retailers in Slovenia. Venture capital investor Netcetera is also present. Trade between the countries, however, is modest – once we exclude the pharmaceuticals – with a 1 percent share of Slovenia’s imports and 2.5 percent of exports.