Slovakia’s trade surplus reached €523 million in June

SLOVAKIA’s monthly trade surplus in June rose to €522.8 million, an increase by €31.2 million compared to May, preliminary data show, as cited by the SITA newswire.

SLOVAKIA’s monthly trade surplus in June rose to €522.8 million, an increase by €31.2 million compared to May, preliminary data show, as cited by the SITA newswire.

In annual terms, the monthly trade surplus was €127.8 million higher.

The Statistics Office released the preliminary data on August 11.

The data further show that declining imports and a slight increase in exports were responsible for the rising surplus. Year-on-year, imports fell by 0.7 percent to €4.82 billion, and exports increased by 1.8 percent to €5.343 billion, SITA wrote.

Cumulatively for the first half of this year, Slovakia’s trade surplus was €2.555 billion, which is €219 million less than a year ago. While total exports for the first six months of this year increased by 2.3 percent to €32.378 billion, total imports were higher by 3.3 percent, at €29.823 billion.

Foreign trade thus continues in 2014 with similarly high surpluses as in previous years. According to analysts, it can be expected again this year that foreign trade will end with a sizeable surplus. Unlike in the previous period, however, imports could be encouraged by reviving domestic demand, so it is questionable whether the full-year surplus will reach similar levels as last year, SITA reported. Foreign trade ended 2013 in a record surplus, revised according to the Statistics Office to almost €4.3 billion.

Source: SITA

Compiled by Michaela Terenzani from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

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