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2022
Economic Complexity
Trade 1.45Rank 11 of 133
2021
Economic Complexity
Technology 0.83Rank 27 of 96
2022
Economic Complexity
Research 0.031Rank 51 of 135
2022
Product
Exports | Imports $56B | $69.2B56 of 226 |  51 of 226
2022
Per Capita Product
Exports | Imports $26.6k | $32.8k11 of 220 |  10 of 220

About

Overview In 2022, Slovenia was the number 85 economy in the world in terms of GDP (current US$), the number 56 in total exports, the number 51 in total imports, the number 39 economy in terms of GDP per capita (current US$) and the number 11 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Slovenia are Packaged Medicaments ($12.5B), Cars ($2.87B), Refined Petroleum ($2.53B), Electricity ($1.86B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.28B), exporting mostly to Switzerland ($9.92B), Germany ($7.92B), Italy ($6.28B), Croatia ($4.68B), and Austria ($3.75B).

Imports The top imports of Slovenia are Packaged Medicaments ($7.94B), Nitrogen Heterocyclic Compounds ($5.79B), Refined Petroleum ($4.74B), Cars ($3.29B), and Electricity ($2.52B), importing mostly from Switzerland ($11.7B), China ($7.64B), Italy ($7.16B), Germany ($7.1B), and Austria ($4.92B).

Location Slovenia borders Austria, Croatia, Italy, and Hungary by land and Italy by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Slovenia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Packaged Medicaments$12.5B
Top Destination (2022)Switzerland$9.92B

In 2022, Slovenia exported a total of $56B, making it the number 56 exporter in the world. During the last five reported years the exports of Slovenia have changed by $22.4B from $33.6B in 2017 to $56B in 2022.

The most recent exports are led by Packaged Medicaments ($12.5B), Cars ($2.87B), Refined Petroleum ($2.53B), Electricity ($1.86B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.28B). The most common destination for the exports of Slovenia are Switzerland ($9.92B), Germany ($7.92B), Italy ($6.28B), Croatia ($4.68B), and Austria ($3.75B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Switzerland$5.09B (+ 105%)
Italy$1.32B (+ 26.7%)
Croatia$1.04B (+ 28.6%)
Fastest Growing Import Markets (2021 - 2022)
Switzerland$3.47B (+ 42.1%)
Italy$1.74B (+ 32.1%)
Austria$994M (+ 25.3%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Slovenia Exports Services (2020)$7.14B
Slovenia Imports Services (2020)$5.32B

In 2020, Slovenia exported $7.14B worth of services. The top services exported by Slovenia in 2020 were Other transport ($2.12B), Miscellaneous business, professional, and technical services ($1.37B), Personal travel ($1.29B), Construction abroad ($734M), and Sea transport ($429M).

The top services imported by Slovenia in 2020 were Miscellaneous business, professional, and technical services ($1.68B), Other transport ($865M), Personal travel ($748M), Telecommunications services ($307M), and Sea transport ($294M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.45Rank 11 of 133
Economic Complexity (Technology)0.83Rank 27 of 96
Economic Complexity (Research)0.031Rank 51 of 135

Most Specialized Products by RCA Index

Slovenia has a high level of specialization in Hydraulic Turbines (19.5), Metal Office Supplies (13.7), Refractory Cements (11.7), Packaged Medicaments (11.5), and Rock Wool (11). Specialization is measured using RCA, an index that takes the ratio between Slovenia observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Slovenia according to the relatedness index, were Newspapers (0.32), Corrugated Paper (0.32), Electrical Control Boards (0.32), Coin (0.32), and Chocolate (0.32). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Slovenia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Slovenia. These are products that tend to be co-exported with the products that Slovenia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Slovenia's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨17th to the 11th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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