Slovenia recorded a significant shift in its external trade performance at the start of the year, moving from a surplus into a deficit amid a steep decline in exports.
According to official data, the country posted a trade deficit of around €600 million in the first two months of 2026, marking a sharp reversal compared to a €2.3 billion surplus in the same period last year.
A substantial drop in exports, which fell by 32.8% year-on-year to €9.4 billion, largely drove the downturn. Imports also declined, but at a much slower pace—down 3.8% to €11.1 billion—widening the trade gap.
A closer look at trade flows shows contrasting dynamics between EU and non-EU markets. Trade with European Union partners remained relatively stable, with both exports and imports hovering around €5.2 billion. However, exports to non-EU countries experienced a sharp contraction, plunging by more than 50%, which significantly impacted overall performance.
Economists point out that last year’s figures received a boost from unusually strong external demand and processing trade, making the current decline appear even more pronounced. The latest data suggest a normalization trend, but the scale of the drop raises concerns about external demand and competitiveness in global markets.
Despite the weak start to 2026, Slovenia had ended 2025 on a positive note, recording a trade surplus of €1.5 billion after a deficit the year before. This highlights the volatility of the country’s trade balance, which remains sensitive to shifts in international demand and supply chains.
The current figures indicate that Slovenia’s export-oriented economy may face continued pressure in the coming months, particularly if global demand remains uneven and recovery in non-EU markets slows.
