Drop in foreign trade moderated, but remains high

A slight improvement may come in the following months, impacted by the lifting of coronavirus measures.

Illustrative stock photoIllustrative stock photo (Source: SITA)

Although the May foreign trade figures improved compared with the previous month, they are still suffering from the impact of the measures adopted to stop the spread of the coronavirus pandemic.

SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

The total export of goods amounted to €4.5957 billion, down by 33.9 percent year-on-year, while the total import of goods went down by 35.8 percent y-o-y to €4.3961 billion. The foreign trade balance was in surplus, amounting to €199.6 million, up by €94.3 million compared with last year, the Statistics Office data shows.

SkryťTurn off ads

In April, the drop was much more significant, with the total export of goods falling by 43 percent and the total import of goods by 36.6 percent y-o-y.

“Mostly the lower import of raw materials helped foreign trade figures to end in the black in May,” Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia, wrote in a memo.

Lagging behind pre-coronavirus levels

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Top stories

Janka, a blogger, during the inauguration of the first flight to Athens with Aegean Airlines at the airport in Bratislava on September 14, 2023.

A Czech rail operator connects Prague and Ukraine, Dominika Cibulková endorses Pellegrini, and Bratislava events.


Píšem or pišám?

"Do ľava," (to the left) I yelled, "Nie, do prava" (no, to the right), I gasped. "Dolšie," I screamed. "Nie, nie, horšie..." My Slovak girlfriend collapsed in laughter. Was it something I said?


Matthew J. Reynolds
Czech biochemist Jan Konvalinka.

Jan Konvalinka was expecting a pandemic before Covid-19 came along.


SkryťClose ad