Slovakia’s foreign trade balance showed a surplus of EUR 204.3mn in July 2013, by 44% lower y/y and by 56% lower m/m, mainly due to a decline in exports, preliminary data from the s tatistics office showed. The office revised the June surplus up to EUR 459.3mn from EUR 458.2mn.
Exports, which have been the sole driving force of the Slovak economic growth last year, fell 0.7% y/y following a revised 2.5% y/y decline in June. On the other hand, imports grew 2.7% y/y after a 3.5% y/y drop in June. On an unadjusted monthly basis, July’s exports dropped 5.3%, while imports fell 0.5%.
For the first seven months of the year, exports increased by 2.9% y/y to EUR 36.85bn, while imports edged up 0.4% y/y to EUR 33.7bn, resulting in a foreign trade surplus of EUR 3.15bn, by 41% higher than in the same period last year.
IntelliNews comment: The decline in exports in the last two months is in line with our forecast for subdued external demand, which is projected to dampen Slovakia’s export-driven economic growth to below 1% this year from 2% in 2012.
| EUR mn | Jul-13 | Jun-13 | Jul-12 | 2012 |
| Imports | 4,800.9 | 4,824.6 | 4,676.6 | 59,195.6 |
| Exports | 5,005.2 | 5,283.8 | 5,039.4 | 62,783.3 |
| Balance | 204.3 | 459.3 | 362.8 | 3,587.6 |
| y/y % change | ||||
| Imports | 2.7% | -3.5% | 7.5% | 6.1% |
| Exports | -0.7% | -2.5% | 18.0% | 10.6% |
| Source: Statistical Office of the Slovak Republic |
Related Articles
Druzhba oil flow to Slovakia and Hungary is renewed
The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more
US Westinghouse could develop electricity storage site near Slovak Gabčíkovo hydroelectric power plant
US power company Westinghouse is reportedly in talks with the Slovak government to develop a new type of electricity storage site near the Gabčíkovo hydroelectric power plant (HPP) on the Danube ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago