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Slovenian exports drop 11.4 pct in August

LJUBLJANA
2023-10-06 05:30

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LJUBLJANA, Oct. 5 (Xinhua) -- Slovenia's exports fell by 11.4 percent year-on-year in August with its imports unchanged from the same period last year, the country's Statistical Office said on Thursday.

The country's exports to other European Union members accounted for about 59 percent of all its exports in August, fell by 11.1 percent year-on-year, while its imports within Europe were 13.4 percent lower than a year ago.

The country recorded a trade deficit of 1.1 billion euros (1.16 billion U.S. dollars) in August. "The value of trade with the EU member states is decreasing" with its exports shrinking since April and imports declining since March, the office said in a report.

However, over the first eight months of the year, the country's exports to non-EU countries rose by 21.2 percent, pushing the value of its all export up by 6.6 percent compared to the same period of 2022. During the same period, its imports increased by 0.1 percent.

Slovenia's main exports include cars, car parts, pharmaceutical products and household appliances. As some of the country's major trading partners, particularly Germany, are battling with the economic slowdown, Slovenia has also been facing economic downturn pressure.

According to a previous announcement, the government expects gross domestic product (GDP) growth of 1.6 percent this year, down from 2.5 percent in 2022.
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