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Slovakia still imports many agricultural products

The negative trade balance increased based on annual comparison.

(Source: Sme)

Slovakia imported more agricultural and food products during the first five months of 2016 than it exported. The foreign trade balance of these goods was negative, amounting to €600 million, which is more than 35 percent higher year-on-year.

The negative balance increased in the case of groceries, beverages and tobacco by 14.3 percent y/y, while in the case of animal products it rose by 47.2 percent y/y and of plant products by 157.3 percent y/y. On the other hand, it dropped in the case of fats and oils by 12.2 percent, the TASR newswire reported, referring to the data of the Slovak Agricultural and Food Chamber (SPPK).

Read also:Foreign trade surplus grows

The imports of agricultural and food products during the first five months of 2016 amounted to €1.668 billion, up by 7.1 percent y/y.

The agricultural firms exported goods valued in total at €1.069 billion, which is 4.2 percent less than the previous year. While the exports of plant products dropped by 12 percent y/y, the export of animal products fell by 7 percent y/y, and fats and oils by 4.5 percent y/y. Only the export of groceries, beverages and tobacco rose, by 4.7 percent y/y, TASR wrote.

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Topic: Economics


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