Slovenia's Trade in Goods with the Western Balkan Countries

• Author: Romih, D.
• Position: Assistant, University of Maribor, Faculty of Economics and Business, Department of International Economics and Business, Slovenia
• Pages: 289-294

Bulletin of the Transilvania University of Braşov

Series V: Economic Sciences • Vol. 7 (56) No. 2 - 2014

SLOVENIA’S TRADE IN GOODS WITH

THE WESTERN BALKAN COUNTRIES

Dejan ROMIH1

Abstract: In this paper, the author deals with Slovenia’s trade in goods

with the Western Balkan countries, Slovenia’s important trade partners that

together account for more than ten per cent of the value of Slovenia’s total

trade in goods. There are several reasons for this, such as ease of trade

between Slovenia and the Western Balkan countries (excluding Albania) due

to similar culture, language, etc. This is particularly true for Croatia, which

is one of Slovenia’s four neighbouring countries and one of its most

important trade partners, accounting for more than five per cent of the value

of Slovenia’s total trade in goods and almost 50 per cent of the value of

Slovenia’s trade with the Western Balkan countries. In 2012, the value of

Slovenia’s trade in goods with Croatia amounted to €2 300.2 million, a

decrease of 2.2 per cent over the previous year. This decrease was mainly

due to a lower demand for goods in both countries as a result of the financial

and economic crisis.

Key words: trade, trade partners, Slovenia, Western Balkan countries.

1 Assistant, University of Maribor, Faculty of Economics and Business, Department of International

Economics and Business, Slovenia.

1. Introduction

Slovenia is, like many other countri es,

especially small ones, dependent on the

export and import of goods and services.

There are several reasons for this, such as

lack of resources, especially natural ones

(e.g., fossil fuels). In 2012, the value of

Slovenia’s total trade in goods amounted to

€43 138.4 million, 119.8 per cent of the

value of Slovenia’s gross do mestic product

Slovenia is, like many other countries,

especially small ones, dependent on the

export and import of goods and services.

There are several reasons for this, such as

lack of resources, especially natural ones

(e.g., fossil fuels). In 2012, the value of

Slovenia’s total trade in goods amounted to

€43 138.4 million, 119.8 per cent of the

value of Slovenia’s gross domestic product

(GDP)i and a decrease of one per cent over

the previous year. In the same year, the

value of Slovenia’s total exports of goods

amounted to €21 060.7 million, 58.5 per

cent of the value of Slovenia’s GDP and an

increase of 0.3 per cent over the previous

year, while the value of Slovenia’s total

imports of goods amounted to €22 077.7

million, 61.3 per cent of the value of

Slovenia’s GDP and a decrease of 2.1 per

cent over the previous year.

If Slovenia wants to increase the value of

its total trade in goods both in the short and

in the long term, it should increase its

competitiveness, which is low in comparison

to the competitiveness of some other