Trade and economic relations between Ukraine and Slovenia
Trade and economic relations between Ukraine and Slovenia
19 August 2012 18:14
Slovenia is a developed European state with an open and export-oriented economy, integrated into the EU internal market and global value added chains. In 2025, the country maintained stable economic growth, low unemployment, and a moderate inflation rate.
The nominal gross domestic product of Slovenia as of August 2025 amounted to approximately 76,856.52 billion USD, which corresponds to approximately 31,698 euros (36,135 USD) per capita.
Real GDP growth was 1.7%.
The unemployment rate, according to the ILO methodology, was maintained at approximately 4.2%, and consumer inflation was approximately 2.7% — one of the lowest indicators in the European Union.
Slovenia's economy is of a mixed nature, with the leading role of the service sector, which forms about 60–66% of GDP. Industry provides about 30–40% of the economic product; the main sectors are automotive, mechanical engineering, electronics, chemical, and pharmaceutical. Agriculture occupies about 1% of GDP.
Slovenia's foreign trade has high export activity: for the first three quarters of 2025, the volume of commodity exports amounted to 72.9 billion euros (an increase of 25.7% compared to 2024), while imports amounted to 68.4 billion euros (+14.8%). The trade balance surplus amounted to 4.5 billion euros.
Exports (for the first 3 quarters of 2025): chemical products — 37.3% of exports (including pharmaceuticals and organic chemicals); machinery and transport equipment — 12.7% (cars, auto parts, industrial equipment); electrical machinery and equipment and parts thereof, sound recording and reproducing apparatus — 7.5%; mineral fuels, lubricants and related materials — 3.7%; plastics — 2.4%; aluminum — 2%; iron and steel — 1.9%.
Imports (for the first 3 quarters of 2025): chemical products — 24.1% of imports; machinery and transport equipment — 15.3%; pharmaceuticals — 8.6%; electrical machinery and equipment and parts thereof, sound recording and reproducing apparatus — 6.6%; mineral fuels, nuclear reactors, boilers, machinery and mechanical appliances — 3.6%; plastics — 2.7%; iron — 2.6%.
The country's main trading partners for exports are Switzerland, Germany, Italy, Croatia, and Austria; for imports — Switzerland, China, Germany, Italy, India, and Austria. Foreign trade accounts for more than 80% of GDP, which makes the Slovenian economy sensitive to global market conditions.
In 2025, the state budget deficit was about –2.2% of GDP, and the state debt was about 65% of GDP. The current account of the balance of payments had a surplus of 2.8% of GDP.
Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine was established in 2013 in order to safeguard national interests in Ukrainian export promotion and attraction of foreign investments to Ukraine.
EIC is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine effectively using diplomatic tools, resources and networks.
From the beginning of 2022 the new platform was launched to help Ukrainian companies enter the foreign markets - https://nazovni.online and https://nazovni.tech
Ukrainian law allows various business structures, such as joint-stock companies, limited liability companies (LLC), private entrepreneurs, joint ventures, representative offices and others. Some of them are more suitable for larger businesses (such as a joint-stock company), whereas other types are more appropriate for an individual, small or mid-size businesses.
Foreign citizens and legal entities may choose one of the above business structures, taking into consideration the ownership and management structure of the company as well as the type of business they are planning to conduct.
Except for a very small one-person type business (such as freelancing) where a Private Entrepreneur structure may be more suitable, most small to mid-size businesses (local and foreign) prefer to incorporate as an LLC in Ukraine.
An LLC offers liability protection to business owners (i.e., their personal assets are protected from business liabilities) and the flexibility to grow bigger as the business expands, yet at the same time faces less scrutiny and government compliance requirements than other more complex business structures.
The following documents have to be filled by shareholders’ representative for the state registration of LLC company in Ukraine:
Application for registration
Decision of founders on incorporation. Such decision of founders on incorporation of a Company may also contain decision to elect for the simplified taxation system (not possible for LLCs owned by foreign companies for more than 25%)
Company Charter (or decision to use the model charter
Application for voluntary registration as VAT taxpayer (if necessary)
For LLCs owned by legal entities-non-residents, additionally
Extract from Company Registry (other relevant state registry in which registration of legal entity is performed in a country of your residence) or other documents, issued by government authorities, confirming registration of a foreign company, its registered address, directors, shareholders and good-standing.
Document, confirming powers of a representative of shareholders to register a LLC (POA)
Given the fact that all the Ukrainian laws/regulations are available mostly only in Ukrainian language and application form also has to be filed in Ukrainian language, it’s a good idea to hire a competent and qualified corporate service provider what can assist foreign companies and stakeholders in drafting the respective documents and handle company registration procedure under an appropriate power of attorney.
Foreign founders and legal entities that are incorporating a Ukrainian LLC must provide the following documents:
Copies of passports of final beneficiary owners of parent company and the director (if physical persons)
Trade register extract certificate of founding company (with all registration information)
Basic data of founding company (according to electronic application form, that your local consultant will provide)
Written statement of founding company to register Ukrainian affiliate office (your local consultant will provide this too)
Power of Attorney
On the basis of these documents, your local partner will execute the establishment procedure which usually takes 5-10 business days. After your LLC is established, it will need to be registered at the tax authority and pension fund as well. Next, the company bank account needs to be opened, and then you are ready to send in your statutory capital and start doing business in Ukraine.
Decisions are made and power is delegated to the executives of your company based on the company charter. Formulating a charter for the new company is also done by your local partner. A basic charter is usually provided as part of the company establishment package, but you may want to consider adding something of your own. For example, you may want to include limitations on the monetary size of the transactions and deals the director of your Ukrainian company is legally able to make.
CONTRIBUTIONS TO THE STATUTORY CAPITAL
Founders can contribute to the company’s statutory capital both in monetary form and through in-kind contributions such as:
Structures and buildings;
Equipment and other tangible assets;
Securities (except for promissory notes);
Rights of possession to land, water and other natural resources: or
Other property rights (including intellectual property rights)
The use of Budget funds, borrowed funds or pledged property to form statutory capital is prohibited.
Today it is possible to establish a company in Ukraine with minimum share capital, for example one Euro, however we do not recommend it. Your company will have monetary obligations since day one, as it needs to have a director who has to receive at least the minimum wage. If the mandatory social contributions from this wage are late, your company could be flagged and inspected by the tax authority.
Whether you have decided to register a LLC as a foreign individual or a legal entity, all documents (except passport) which you will bring from overseas to Ukraine must be either legalized, or apostatized (if country where the documents were issued is subject to so called Hague Apostille Convention as of 5th of October, 1961).
If documents compiled in other language than Ukrainian, a certified translation has to be provided.