BUSINESS IN SHORT

Slowdown in trade at end of 2008

THE REVISED figures of the Statistics Office show that Slovakia’s foreign trade had a deficit of Sk5.3 billion (€175.9 million) in November 2008. The previously published data showed November’s foreign trade deficit at Sk7.343 billion (€243.7 million).

THE REVISED figures of the Statistics Office show that Slovakia’s foreign trade had a deficit of Sk5.3 billion (€175.9 million) in November 2008. The previously published data showed November’s foreign trade deficit at Sk7.343 billion (€243.7 million).

Exports totalled Sk117.4 billion (€3.9 billion) in November on a year-on-year decrease of 15.5 percent. Imports shrank by 14.6 percent to Sk122.7 billion (€4 billion). The deficit of Slovakia’s foreign trade for the entire January-November period accounted to Sk9 billion (€298.7 million), the SITA newswire wrote.

Slovakia reported the highest trade gap with Russia at €3.306 billion, followed by South Korea at €2.639 billion, China at €2.254 billion, Taiwan at €617.4 million, Japan at €580.9 million, and Malaysia at €156 million.

Slovakia had the highest trade surplus with the United Kingdom at€1.557 billion, followed by Austria at €1.311 billion, France at €1.285 billion, Poland at €1.251 billion, Italy at €1.009 billion, the Netherlands at €839.8 million, the Czech Republic at €806.6 million, Spain at €541.1 million, and Romania at €531.1 million.

Over eleven months of last year, exports amounted to Sk1,404.7 billion (€46.63 billion), up seven percent year-on-year.

Exports to EU member states grew by 5.1 percent and constituted 85.3 percent of Slovakia’s overall exports. Exports to OECD countries fell by 4.2 percent, making up 86.3 percent of the total volume.
A significant slowdown in Slovakia’s foreign trade continued in December.

According to preliminary figures from the Statistics Office, the volume of exports in the last month of 2008 fell 18.4 percent year-on-year to Sk88.522 billion (€2.938 billion) and imports shrank 17.3 percent to Sk99.327 billion (€3.297 billion).

Based on these preliminary figures, Slovakia had a negative trade balance in December of Sk10.804 billion (€358.6 million), SITA wrote.

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