Slovakia's foreign trade surplus narrows 44% m/m in Aug 2014

By bne IntelliNews October 9, 2014

Slovakia’s foreign trade surplus narrowed to EUR 232.8mn in August 2014 from a revised EUR 413.2mn the month before, preliminary data from the statistics office showed. July’s surplus figure was revised down from EUR 422.4mn 

In annual terms, however, the country's foreign trade surplus expanded by 13.5% in August from EUR 205.2mn in the same month of 2013. Exports decreased 2.4% y/y, following a revised annual rise of 3.2% in July. Imports fell 3.1% y/y, deepening from an annual revised decline of 2.7% in the previous month. On a monthly basis, August’s exports dropped 8.9%, while imports shrank 6.1%.

In the first eight months of 2014 the country's foreign trade surplus totalled EUR 3.19bn, or by EUR 80.6 mn higher than in the same period last year.

In 2013, Slovakia's exports increased 3.3% y/y to EUR 64.17bn, while imports rose 2.3% y/y to EUR 59.9bn, resulting in a foreign trade surplus of EUR 4.23bn.

IntelliNews comment:  Exports have been the driving force of the Slovak economic growth in the past two years but it is expected that their contribution to the country’s GDP to weaken in the following years as domestic demand takes the lead. EU sanctions against Russia also put pressure on the country’s exports.

EUR mn Aug-14 Jul-14 Aug-13 2013
Imports 4,445.9 4,732.2 4,590.4 59,939.9
Exports 4,678.7 5,136.4 4,795.6 64,172.3
Balance 232.8 413.2 205.2 4,232.4
y/y % change        
Imports -3.1% -2.7% -5.7% 2.3%
Exports -2.4% 3.2% -2.1% 3.3%
Source: Statistical Office of the Slovak Republic        

Related Articles

UniCredit reportedly in talks to sell Czech/Slovak unit

UniCredit is in talks with two local suitors over the sale of the Italian bank’s Czech/Slovak business, local media reported on March 27. The claim remains only speculation, but if accurate, it ... more

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

EU asks CEE to comment on Russian gas promises

The European Commission has invited comments from Central & Eastern European states on proposals put forward by Russian gas giant Gazprom to meet competition concerns. Visegrad and the Baltic ... 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