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Foreign trade surplus of €298.3 million posted in May

SLOVAKIA’S foreign trade recorded a surplus of €298.3 million in May, a fall of €193.3 million when compared to May of last year, the Slovak Statistics Office (ŠÚ) reported on July 9.

Illustrative stock photo(Source: Sme)

Total exports of goods from Slovakia in May 2015 amounted to €5.448 billion, a year-on-year decline of 1.8 percent. Overall imports to Slovakia increased by 1.8 percent y-o-y to €5.149 billion.

In the first five months of this year, foreign trade posted a surplus of €1.913 billion, a decrease of €217 million y-o-y when compared with the same period of last year. Total exports of goods increased by 1.5 percent to €27.562 billion, while imports went up by 2.5 percent to €25.649 billion.

In April, the foreign trade recorded a surplus of €280.3 million, which was a drop of €47.9 million y-o-y, the ŠÚ stated. Overall exports in April 2015 went up by 1.1 percent y-o-y to €5.537 billion, while total imports grew by 2.1 percent to reach €5.257 billion.

For first four months of the year, the country's foreign trade saw a surplus equalling €1.615 billion, which was a decrease of €23.7 million on an annual basis.

The highest surpluses between January-April were recorded with Germany (€2.095 billion), the United Kingdom (€924.8 million), Poland (€914.7 million), Austria (€801.8 million), France (€582 million), the Czech Republic (€525.6 million), Italy (€378.9 million), Spain (€351.9 million), Hungary (€266.4 million) and the United States (€263.6 million). Conversely, the highest deficits were seen in foreign trade activities with South Korea (€1.371 billion), China (€1.247 billion), Russia (€703.6 million), Japan (€222.4 million), Taiwan (€151 million), Malaysia (€146.8 million), India (€76.3 million) and Ukraine (€69.7 million).

Goods worth €22.114 billion were exported from Slovakia in the first four months of the year, which was a hike of 2.4 percent y-o-y. The most important trading partners in terms of exports recorded the following increases: Germany (5.6 percent), Poland (6.4 percent), France (12.8 percent), the UK (14.2 percent), Italy (6.2 percent), Spain (27.5 percent), and the United States (23.9 percent). Drops in exports were posted for the Czech Republic and Austria (both 2.3 percent), Hungary (5.8 percent), Russia (34.1 percent) and the Netherlands (5.1 percent).

Goods worth €20.499 billion were imported to Slovakia between January-April, rising by 2.7 percent y-o-y. Imports were up with Germany (0.2 percent), the Czech Republic (2.1 percent), China (7.9 percent), Hungary (1.7 percent), France (15.4 percent), and Italy (6.9 percent). Imports went down when it came to South Korea (11.1 percent), Russia (40.1 percent), Poland (1.7 percent) and Austria (5.2 percent).

Topic: Economics


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