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Slovenia Business Week no. 11/2005: Exchange of Services Sees Biggest Surplus in 2004

Last year saw the biggest surplus in the exchange of services so far, namely that of EUR 670m

Last year saw the biggest surplus in the exchange of services so far, namely that of EUR 670m. Both exports and imports of services increased by 13% and 9.9% in nominal terms respectively, preliminary data released by a national macroeconomic institute show.

The positive trend comes down mainly to favourable results in the exchange of transport services and travels, the Institute for Macroeconomic Analysis and Development (IMAD) said.

In the latest issue of the publication Economic Mirror, IMAD analysts observe that, among the top three services, transport saw the highest growth in both imports and exports in 2004.

The exports increase was the highest in road transport, by about EUR 66m, and in sea transport, by EUR 39m. On the one hand, this is a consequence of high growth levels in the export of goods, and on the other, a consequence of Slovenia's EU accession, IMAD observes.

EU accession has enabled Slovenian hauliers greater access to the common market and given them the opportunity to transport goods for international clients, according to IMAD. On the other hand, it opened access for Slovenian clients to transport services abroad at more competitive prices.

IMAD believes that the competitiveness of Slovenian hauliers increased over those of non-EU member states because of a fewer number of administrative procedures that they must undergo.

There has also been a high nominal increase in the export and import of travel services, up 10.5% and 9.7%, respectively, according to the Economic Mirror.

Source: Slovene Press Agency STA

Author: STA