Slovakia's foreign trade surplus jumps 51.9% m/m in May 2014

By bne IntelliNews July 9, 2014

Slovakia’s foreign trade surplus expanded to EUR 464.7mn in May 2014 from a revised EUR 305.9mn the month before, preliminary data from the statistics office showed. The April’s surplus figure was revised down from EUR 345.8mn.

In annual terms, the country's foreign trade surplus shrank by 24.1% in May. Exports dropped by 2.7% y/y in the fifth month of 2014, following a revised annual decrease of 3.2% in April. Imports inched down by 0.1% y/y after increasing by a revised 1.2% y/y in the previous month. On a monthly basis, May’s exports rose 1.3%, while imports decreased by 1.7%.

In the first five months of 2014 the country's foreign trade surplus totalled EUR 1.99bn, being EUR 384.7mn lower than in the same period last year.

In 2013, Slovakia's exports increased by 3.6% y/y to EUR 64.36bn, while imports rose 2.5% y/y to EUR 60.08bn, resulting in a foreign trade surplus of EUR 4.28bn.

IntelliNews comment: Slovakia’s exports shrank for the second straight month in May after rising in the previous seven months. This development suggests that exports, which have been the driving force behind the country’s economic growth, are likely to have a lower contribution in the GDP growth this year. On the other hand, consumption has shown signs of recovery and might have a bigger contribution in the country's economic growth. Slovak retail sales have been increasing in the past seven months backed by rising household consumption, increasing employment and higher salaries and are expected to continue this upward trend in 2014. The Slovak finance ministry expects household consumption to grow 2.4% this year. It also expects exports to post an annual growth of 6.7% in 2014.

EUR mn May-14 Apr-14 May-13 2013 y/y change m/m change
Imports 5,047.4 5,134.2 5,054.8 60,077.4 -0.1% -1.7%
Exports 5,512.0 5,440.1 5,667.2 64,361.1 -2.7% 1.3%
Balance 464.7 305.9 612.5 4,283.7 -24.1% 51.9%
y/y % change            
Imports -0.1% 1.2% 1.5% 2.5%    
Exports -2.7% -3.2% 5.5% 3.6%    
Source: Statistical Office of the Slovak Republic            

Related Articles

Japan’s Asahi buys a huge round in Central Europe

Asahi has beaten a host of regional heavyweights in the race to buy SABMiller’s Central and Eastern European beer brands, the Japanese brewer announced on December 13. The Asian giant said it ... more

Slovak PM slams media “prostitutes”

Slovak Prime Minister Robert Fico labelled local journalists “anti-Slovak prostitutes” on November 23 as he waded into a case featuring low level corruption allegations only to thrust it into the ... more

Slovak government rejects accusations of corruption over EU presidency events

The Slovak government has rejected accusations that some of its preparations for running the EU's rotating presidency were marred by corruption. Bratislava has been in the headlines since it took ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss