Slovakia's foreign trade surplus shrinks 11.2% m/m to EUR 483.1mn in Oct 2013

By bne IntelliNews December 9, 2013

Slovakia’s foreign trade surplus narrowed by 11.2% on the month to EUR 483.1mn in October 2013, preliminary data from the statistics office showed. Compared to the same month of 2012, the October trade surplus shrank by 14.9%. The office revised September surplus down to EUR 544.2mn from EUR 545.7mn.

Exports, which have been the sole driving force of the Slovak economic growth last year, rose by 0.1% y/y, following a revised 4.8% annual increase in September. Imports in October went up by 1.6% y/y after rising by a revised 0.9% y/y in September. On a monthly basis, October’s exports rose 4.0% and imports were higher by 5.6%.

For the first ten months of the year, exports increased by 2.9% y/y to EUR 53.5bn, while imports rose 0.8% y/y to EUR 49.2bn, resulting in a foreign trade surplus of EUR 4.29bn, higher by 35.8% compared to the same period last year.

IntelliNews comment: Although Slovakia‘s exports increased in the past two months, the rise was much weaker compared to 2012-levels due to subdued foreign demand which in result will dampen the country's export-driven economic growth to below 1% this year from 2% in 2012.

EUR mn Oct-13 Sep-13 Oct-12 2012
Imports 5,592.9 5,296.0 5,502.9 58,588.4
Exports 6,076.0 5,840.2 6,070.4 62,144.0
Balance 483.1 544.2 567.6 3,555.7
y/y % change        
Imports 1.6% 0.9% 10.6% 5.1%
Exports 0.1% 4.8% 12.8% 9.4%
Source: Statistical Office of the Slovak Republic        
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

How Ukrainian grain wrecked the Polish grain market

The Polish grain market has been thrown into disarray by cheap Ukrainian grain that sent prices plummeting in April, causing Warsaw to impose a five-month ban, backed up by the European Commission. ... more

Slovak OFZ aims to move part of production to Uzbekistan

Metallurgical company OFZ plans to transfer part of its production from Slovakia to Uzbekistan, The Slovak Spectator has reported. The ferroalloy production company from Oravsky Podzamok has ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss