Slovakia Balance of Trade
Mar 31, 2023
Jun 09, 2023
Time to Release
28 Days 23 Hours
|6.87 EUR Million||1993-2023||Statistical Office of the Slovak Republic|
Exports has been the main factor behind Slovakian robust growth and in the last ten years exports more than doubled. The biggest share of Slovakian exports are vehicles, machinery and electrical equipment, base metals and chemicals and minerals. Main export partners are Euro Area members with German, Czech Republic and Poland being the most important. The biggest share of Slovakian imports are machinery and transport equipment, intermediate manufactured goods, fuels and chemicals. Main import partners are Germany, Czech Republic, China and Russia. In 2015, Slovakia had the highest balance surplus with Germany, the UK, Poland and Austria. The largest balance deficit was recorded in trade with China, South Korea, Russia and Japan.
Slovakia posted a trade surplus of EUR 804 million in March 2023 from a EUR 541 million deficit in the same month last year and well-above market expectations of a EUR 125 million surplus, preliminary estimates showed. It was the largest figure since October 2020, as exports soared to a ten-year high of 12.6% to EUR 10,170 million, driven mainly by higher sales of machinery and transport equipment. On the other hand, imports fell for the first time in over two years by 2.1% to EUR 9,366 million, weighed down by lower purchases of mineral fuels. Considering the January-March period, the trade balance registered a surplus of EUR 818 million, compared to a EUR 1.1 billion deficit in the corresponding period in 2022.
Slovakia Balance of Trade History
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