BELGIUM is Slovakia’s 12th biggest export market. Based on the Global Slovakia database, 985 companies in Slovakia export goods to Belgium, according to Ján Tyrala from the Slovak Economy Ministry.
In terms of bilateral trade, the year 2011 brought the biggest turnover in the last four years, totalling €1.472 billion. That year Slovakia’s exports to Belgium amounted to €946 million, while imports stood at €526 million, leaving the trade balance in a surplus for Slovakia at €420 million. In 2012 turnover decreased to €1.433 billion, when Slovakia’s exports totalled €922 million and imports came to €511.2 million. With the exception of 2012 trade continues to grow, according to data provided by the Slovak Ministry of Economy. During the January-July period of 2013, Slovak-Belgian trade reached a turnover of €891.4 million, with a positive trade balance for Slovakia of €237 million. Slovakia’s exports to Belgium amounted to €564.2 million, while exports totalled €327.2 million.
Among the most important goods imported from Belgium to Slovakia are motor vehicles, plastics, pharmaceutical products and medicine, iron and steel, according to Tyrala. Slovakia exports to Belgium motor vehicles, machines and technologies used in industry, electric appliances and apparatuses, metal products and furniture.
“With regard to the strong presence of the automotive industry in Slovakia and the current closure of some production plants in this industrial sector in Belgium, it is possible to assume that the growth of export of passenger cars from Slovakia will continue,” said Tyrala. “Good prospects for Slovakia’s exports to Belgium are also shown in machines and electric apparatuses, plastics, natural rubber and products derived from it, metals and products made from it.”
25. Nov 2013 at 0:00 | Compiled by Spectator staff