Accurate information is crucial for creating new businesses in the growing trade landscape between India and Slovenia. In this context, we have compiled sector-specific trade data for you. This data also includes India's and Slovenia's trade volumes with other European countries such as Austria, Croatia, Germany, Italy, and Switzerland. Slovenian companies are known for their high-quality products and services and logistics capabilities. Export trade with European countries considers Slovenia and India and provides a window through which the business climate is tangible. For a new entrepreneur, the data enables an understanding of the potential future.
Make sure to read the data analytically. Connecting the dots will give you the correct bigger picture.
Table of Contents
Export Trade with European Countries
Indian Exports
India's top trading partners in the financial year 2022–23 have significantly influenced its trade landscape. Let's delve into the specifics:
ASEAN: India's trade with the Association of Southeast Asian Nations (ASEAN) resulted in a total trade value of $133.03 billion, with exports amounting to $44.07 billion and imports at $88.96 billion. However, there was a trade deficit of -$44.89 billion.
European Union (EU): The EU maintained a robust trade relationship with India, contributing to a total trade value of $131.50 billion. India exported goods worth $73.67 billion to the EU and imported goods worth $57.83 billion, resulting in a trade surplus of $15.84 billion.
United States: India's trade with the US reached a total value of $118.21 billion. Exports to the US stood at $71.39 billion, while imports amounted to $46.82 billion, resulting in a trade surplus of $24.57 billion.
China: Despite challenges, India's trade with China reached a total value of $104.32 billion. India exported goods worth $13.60 billion to China, while imports were $90.72 billion, leading to a trade deficit of -$77.12 billion.
These figures highlight the dynamic trade relationships that India maintains with various countries. While the US has emerged as India's largest trading partner, the EU, ASEAN, and China play significant roles in shaping India's economic landscape.
India's exports to fellow Asian countries accounted for 45.6% of its total exports by value. The United Arab Emirates was a significant partner, with $25.4 billion in trade. India sold 20.1% of its exports to North American importers, primarily the United States. European countries account for about 19.2% of India's total exports.
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The Indian exports to the European Union are as follows:
Indian Export Trade 2022
India's Exports to Austria
India's top exports to Austria in 2022 included the following categories:
Electrical and electronic equipment: Valued at $656.73 million.
Vehicles other than railway and tramway: Amounting to $85.08 million.
Machinery, nuclear reactors, and boilers: Worth $65.44 million.
Organic chemicals: Totaling $45.47 million.
Footwear, gaiters, and similar articles: Valued at $40.94 million.
Additionally, India exported other goods to Austria, such as iron or steel articles, rubbers, optical and medical apparatus, and pharmaceutical products. These trade relations contribute to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in February 2024.
India's Exports to Croatia
India's top exports to Croatia in 2022 included the following categories:
Aluminium: Valued at $225.23 million.
Ores, slag, and ash: Amounting to $58.21 million.
Organic chemicals: Worth $31.75 million.
Machinery, nuclear reactors, and boilers: Approximately $13.76 million.
Ceramic products: Valued at $12.33 million.
Additionally, India exported other goods such as iron and steel, tobacco products, coffee, tea, mate, spices, electrical and electronic equipment, and pharmaceutical products to Croatia. These trade relations contribute to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in February 2024.
India's Exports to Germany
India's top exports to Germany in 2022 encompassed a diverse range of goods. Here are the key categories:
Machinery, nuclear reactors, and boilers: Valued at $1.48 billion.
Electrical and electronic equipment: Amounting to $1.24 billion.
Organic chemicals: Worth $832.04 million.
Articles of apparel (knit or crocheted): Totaling $629.27 million.
Vehicles other than railway and tramway: Valued at $500.68 million.
Additionally, India exported other goods to Germany, such as iron or steel articles, footwear, pharmaceutical products, optical and medical apparatus, plastics, and more. These trade relations contribute significantly to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in January 2024.
India's Exports to Italy
India's top exports to Italy in 2022 were as follows:
Iron and steel: Valued at $1.67 billion.
Electrical and electronic equipment: Amounting to $990.25 million.
Machinery, nuclear reactors, and boilers: Worth $648.69 million.
Organic chemicals: Approximately $555.80 million.
Aluminium: Valued at $435.15 million.
Additionally, India exported other goods such as articles of iron or steel, articles of apparel (knit or crocheted), pearls, precious stones, vehicles other than railway and tramway, and more to Italy. These trade relations contribute significantly to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in February 2024.
India's Exports to Switzerland
India's top exports to Switzerland in 2022 included a diverse range of goods. Here are the key categories:
Organic chemicals: Valued at $605.99 million.
Pearls, precious stones, metals, coins: Amounting to $269.14 million.
Machinery, nuclear reactors, and boilers: Worth $36.19 million.
Articles of apparel (knit or crocheted): Totaling $27.98 million.
Inorganic chemicals, precious metal compound, isotope: Valued at $26.48 million.
Additionally, India exported other goods such as electrical and electronic equipment, articles of leather, tanning and dyeing extracts, pharmaceutical products, clocks and watches, and optical, photo, technical, and medical apparatus to Switzerland. These trade relations contribute significantly to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in February 2024.
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Slovenian Exports
The latest available country-specific data shows that 78.5% of products exported from Slovenia were bought by importers in Switzerland (21% of the Slovenian total), Germany (14.5%), Italy (10.6%), Croatia (8.4%), Austria (6.7%), France (3.4%), Serbia (2.8%), Hungary (2.5%), Poland (2.49%), Russia (2.2%), Czech Republic (2%) and Bosnia/Herzegovina (1.9%).
From a continental perspective, 92.2% of Slovenia’s exports by value were delivered to fellow European countries, while 4.2% was sold to importers in Asia. Slovenia shipped another 2.1% worth of goods to North America.
Smaller percentages went to Africa (0.8%), Latin America (0.4%) excluding Mexico but including the Caribbean, then Oceania (0.3%) led by Australia and New Zealand. (Source:worldstopexports)
Slovenian Export Trade 2022
Slovenia's Exports to Austria
In 2022, Slovenia's top exports to Austria included a diverse range of products. Here are the key categories:
Machinery: Valued at $477.7 million.
Vehicles: Amounting to $472.3 million.
Mineral fuels, including oil: Worth $302.8 million.
Wood: Approximately $248.8 million.
Aluminium: Valued at $183.4 million.
Electronic equipment: Totaling $168.6 million.
Iron or steel products: Amounting to $167.1 million.
Plastics: Valued at $160.5 million.
These exports reflect Slovenia's industrial capabilities, spanning sectors such as machinery, vehicles, and mineral fuels. Austria remains an important trading partner for Slovenia, fostering economic cooperation and growth. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in January 2024.
Slovenia's Exports to Croatia
In 2022, Slovenia's exports to Croatia amounted to US$4.66 billion. These trade relations contribute significantly to the economic ties between the two neighbouring countries. Here are the key export categories from Slovenia to Croatia:
Mineral fuels, including oil: Valued at $454.9 million.
Vehicles: Amounting to $395.9 million.
Machinery: Worth $262.8 million.
Pharmaceuticals: Approximately $191.9 million.
Electronic equipment: Valued at $180.8 million.
Plastics: Totaling $132.5 million.
Aluminium: Valued at $108.5 million.
Iron and steel: Amounting to $83.5 million.
These exports reflect Slovenia's diverse industrial capabilities, spanning sectors such as energy, automotive, machinery, and pharmaceuticals. Croatia remains an important trading partner for Slovenia, fostering economic cooperation and growth. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in September 2023.
Slovenia's Exports to Germany
In 2022, Slovenia's exports to Germany were diverse, contributing significantly to their economic ties. Here are the key export categories:
Vehicles: Valued at $2.4 billion.
Electronic equipment: Amounting to $1.3 billion.
Machinery: Worth $985.6 million.
Aluminium: Approximately $433.9 million.
Furniture, lighting, and signs: Valued at $373.6 million.
Plastics: Totaling $341.7 million.
Pharmaceuticals: Contributing $283.5 million.
Iron and steel: Amounting to $251.1 million.
These exports reflect Slovenia's manufacturing prowess, with a focus on motor vehicles, furniture, household electrical equipment, pharmaceutical products, and clothing. Germany remains a crucial trading partner for Slovenia, fostering economic cooperation and growth. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in January 2024.
Slovenia's Exports to Italy
In 2022, Slovenia's top exports to Italy included a diverse range of products. Here are the key categories:
Mineral fuels, oils, and distillation products: Valued at $1.69 billion.
Iron and steel: Amounting to $412.61 million.
Electrical and electronic equipment: Worth $381.02 million.
Wood and articles of wood, wood charcoal: Approximately $368.14 million.
Plastics: Valued at $307.38 million.
Additionally, Slovenia exported other goods such as machinery, nuclear reactors, boilers, vehicles other than railway and tramway, aluminium, paper and paperboard, optical, photo, technical, medical apparatus, dairy products, eggs, honey, edible products, furniture, lighting signs, prefabricated buildings, pharmaceutical products, copper, cereals, glass and glassware, articles of iron or steel, rubbers, and more to Italy. These trade relations contribute significantly to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in January 2024.
Slovenia's Exports to Switzerland
In 2022, Slovenia's top exports to Switzerland included a diverse range of products. Here are the key categories:
Pharmaceuticals: Valued at $15.3 billion and representing 27.6% of total exports.
Electrical machinery and equipment: Amounting to $5.4 billion (9.7% of total exports).
Machinery, including computers: Worth $4.7 billion (8.4% of total exports).
Vehicles: Valued at $4.6 billion (8.3% of total exports).
Mineral fuels including oil: Totaling $4.5 billion (8% of total exports).
Additionally, Slovenia exported other goods such as plastics, iron, steel, aluminium, and wood to Switzerland. These trade relations contribute significantly to the economic ties between the two nations. Please note that these figures are based on data from the United Nations COMTRADE database and were last updated in February 2024.
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Conclusion
In January 2023, the ninth round of Foreign Office Consultations between Slovenia and India was held in Ljubljana, where the progress in bilateral ties despite COVID restrictions was reviewed. Agribusiness, health, science & technology, defence, space, migration, climate innovation, and renewable energy were among the topics covered in the consultations.
India and Slovenia should concentrate on diversifying their export and import baskets, streamlining customs procedures, lowering bureaucratic barriers, and fostering effective logistics to improve their bilateral trade relations. In addition, they ought to investigate the potential for a preferential trade agreement or free trade agreement (FTA), encourage Slovenian businesses to invest in India and vice versa, and work together on industry-specific initiatives like tourism, renewable energy, and agriculture.
Business forums, trade shows, and industry-specific events; e-commerce and digital platforms present enormous potential for cross-border trade, promoting networking and matchmaking opportunities. Festivals, art shows, and cultural exchanges can improve mutual understanding, build goodwill, and drive economic cooperation.
We hope this guide on export trade with European countries has helped you. Good luck with your global vision and business!
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