Foreign trade back in surplus, but disappointing again

The new production capacities in automotive industry are expected to reverse this trend soon, analyst predicts.

Illustrative stock photoIllustrative stock photo (Source: TASR)

Although May foreign trade statistics suggest that foreign trade was in surplus again. After April ended in a surprising deficit, observers were rather disappointed by its performance.

The total export of goods amounted to €6.86 billion, down by 0.2 percent year-on-year. The total import of goods rose by 3.8 percent y-o-y to €6.73 billion. The foreign trade balance was in surplus, amounting to €133.1 million, down by €261.5 million compared to last May, the Statistics Office data suggests.

The most traded Standard International Trade Classification (SITC) section was machinery and transport equipment, with a share of 62.4 percent of the total export and 50.4 percent of the total import, Statistics Office informed.

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