A weakening demand from abroad negatively impacts exports

An analyst, however, expects the situation to improve later this year.

Jaguar Land Rover plant in NitraJaguar Land Rover plant in Nitra (Source: TASR)

It seems that the automotive industry's supply has been unable to compensate the weakening demands of Slovakia’s business partners.

This is how Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia, responded to the recent foreign trade data published by the Statistics Office.

The total export of goods amounted to €6.4877 billion, down by 7.3 percent year-on-year. The total import of goods dropped as well, by 4 percent y-o-y to €6.2841 billion.

The foreign trade balance was in surplus, amounting to €203.6 million, which was €246.8 million less than the previous year, statistics show.

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