Production volume in manufacturing has remained practically unchanged since the increase early in the year. In the third quarter production volume in high-technology industries increased further. In medium-low-technology industries, which are more integrated in global value chains, it has mostly been hovering around the same levels as at the beginning of the year. The moderation of foreign demand also had a considerable impact on medium-high industries; in addition to a significant year-on-year decline in the  manufacture of motor vehicles, the third quarter also recorded a strong deceleration of growth in the manufacture of machinery and equipment. The greatest fall in production volume since the beginning of the year was recorded in low-technology industries, especially some less-productive ones (the textile, leather and furniture industries).

Lower growth in foreign demand has been reflected in significantly weaker export growth in some main product groups. Growth in total goods exports has remained high (12.4% year on year) as a consequence of strong trade and distribution activity in medicinal and pharmaceutical products in particular, but also in oil and oil derivatives. Significantly lower growth was recorded for exports of other main manufactured goods, in addition to vehicles, also intermediate goods (metal products, machinery, parts and accessories for transport equipment), which account for around half of Slovenian exports. This can be attributed to cooling growth in Slovenia’s main trading partners, particularly Germany, where exports have remained at roughly the same level as last year. The growth of imports remains high, driven by factors similar to those in exports.