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Foreign trade posted surplus in July

SLOVAKIA’S foreign trade recorded a surplus of €268.8 million in July which was a year-on-year drop of €146 million, the Slovak Statistics Office (ŠÚ) announced on September 8.

Illustrative stock photo(Source: SME)

Overall exports of goods reached €5.596 billion, an increase of 8.3 percent in annual terms. Total imports amounted to €5.327 billion which was an increase of 12.1 percent y-o-y.

When the first seven months of the year are considered, foreign trade posted a surplus of €2.565 billion, which was a reduction of €487.8 million compared to the same period last year. Overall exports went up 4.1 percent to €39.216 billion, while total imports grew by 5.9 percent to €36.651 billion.

In June, foreign trade recorded a surplus of €449.2 million which was a drop of €59.1 million when compared to the same period of last year, the TASR newswire quoted the ŠÚ. Overall exports in June 2015 went up by 12.5 percent y-o-y to €6.021 billion, while total imports grew by 15 percent to reach €5.572 billion.

As for the first six months of the year, the country’s foreign trade saw a surplus equalling €2.296 billion, which was a decrease of €341.9 million on an annual basis. The highest trade surpluses between January and June were recorded with Germany (€3.028 billion), the United Kingdom (€1.344 billion), Poland (€1.231 billion), Austria (€1.171 billion), France (€880.4 million), the Czech Republic (€736.4 million), Italy (€565.4 million), the USA (€530.4 million) and Spain (€528.1 million). Conversely, the highest deficits were seen in foreign trade activities with South Korea (€1.991 billion), China (€1.932 billion), Russia (€1.098 billion), Japan (€308.4 million), Malaysia (€224.7 million), Taiwan (€2220.7 million) and India (€112.6 million).

Goods worth €33.619 billion were exported from Slovakia in the first six months of the year, which was a hike of 3.5 percent y-o-y. Exports to the most important trading partners in these terms recorded the following increases: Germany (6.6 percent), Poland (6.1 percent), France (13 percent), Austria (1.3 percent), the UK (9.8 percent), Italy (6.1 percent), Spain (27.9 percent), and the USA (32.2 percent). Drops in exports were posted for Hungary (3.5 percent), the Netherlands (2.9 percent), Russia (34.8 percent) and Switzerland (1.9 percent).

Goods worth €31.323 billion were imported into Slovakia between January and June, rising by 4.9 percent y-o-y. Imports were up from Germany (0.3 percent), the Czech Republic (3.8 percent), China (14.6 percent), Poland (3.4 percent), Hungary (3.7 percent), France (17.5 percent), Italy (8.3 percent) and Austria (2.2 percent). Imports went down when it came to South Korea (13.4 percent) and Russia (32.2 percent).

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Topic: Economics


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