FX.co ★ Slovenian Trade Gap Widens Sharply

In December, Slovenia experienced a substantial increase in its foreign trade deficit compared to the previous year, as reported by the statistical office on Tuesday. This change was attributed to the fact that imports rose at a significantly faster rate than exports.

The trade deficit expanded to EUR 882.4 million in December, up from EUR 11.1 million in the same month the previous year. November had seen a deficit of EUR 362.3 million.

Export activities saw a 17.7% year-on-year increase in December, while imports surged by 39.7%.

Trade growth with EU member states registered at 1.1%, whereas trade with non-EU countries soared by 25.1%.

Throughout 2024, there was an 11.8% rise in exports and a 21.1% increase in imports when compared to 2023. Slovenia's key export markets during 2024 included Switzerland, Germany, Croatia, Italy, and Austria.

In terms of product categories, chemicals and related items dominated, representing 45.6% of all exports and 49.5% of all imports in 2024, according to the agency.