Slovakia posts second-highest trade surplus in a decade

It's due to car sales, analysts say.

Most cars produced in Slovakia head for export.Most cars produced in Slovakia head for export. (Source: Courtesy of Kia Motors Slovakia)

In September, the export of goods from Slovakia exceeded total imports by €707.9 million, making it the second-highest trade surplus since 2010, after this year's
June record
.

According to the Statistics Office, increased car exports had the biggest impact on the surplus for September.

Ľubomír Koršňák, an analyst of the UniCredit Bank Czech Republic and Slovakia, said that September is typically a good month for foreign trade, when the end of summer holiday season brings improvements. This has also happened this year.

Koršňák noted it was not just the stronger car exports, but also prices on the imports side, namely the lower price for oil year-on-year, and the lower domestic demand.

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