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        

Related Articles

V4 leaders positive after dinner with European Commission president

The head of the European Commission Jean-Claude Juncker held talks with leaders of the Visegrad Group at a nearly three-hour dinner on October 19.  The dinner on the eve of the EU summit was ... more

Jaguar Land Rover Slovakia searches for 1,000 employees amid dearth of available workers

Carmaker Jaguar Land Rover Slovakia on October 2 launched a recruitment campaign amid a low unemployment environment in which ... more

Slovakia's soars six places in WEF's Global Competitiveness Report

Slovakia rose six places to 59th place in the World Economic Forum’s 2017-18 Global Competitiveness Report, the fourth year it has climbed the ... more

Dismiss