Slovakia's foreign trade surplus shrinks 34.6% m/m to EUR 314mn in Nov 2013

By bne IntelliNews January 9, 2014

Slovakia’s foreign trade surplus narrowed by 34.6% on the month to EUR 314mn in November 2013, preliminary data from the statistics office showed. Compared to the same month of 2012, the November trade surplus edged up by 0.2%. The office revised October surplus down to EUR 480.3mn from EUR 483.1mn announced earlier.

Exports, which have been the sole driving force of the Slovak economic growth in 2012, rose by 4.6% y/y, following a revised 2.6% annual increase in October. Imports in November went up by 4.8% y/y after rising by a revised 4.5% y/y in October. On a monthly basis, November’s exports fell 2.2% and imports increased by 0.5%.

For the first 11 months of the year, exports increased by 3.4% y/y to EUR 59.76bn, while imports rose 1.5% y/y to EUR 55.18bn, resulting in a foreign trade surplus of EUR 4.58bn, higher by 31.8% compared to the same period last year.

IntelliNews comment: Slovakia’s exports grew in most months of 2013 but the annual growth rates were much weaker than those in 2012. Timid foreign demand has affected the country’s economic growth, which is forecasted to slow below 1% in 2013 compared to 2% a year earlier. Forecasts for 2014 are more positive as demand from abroad is expected to become stronger pushing the GDP growth up to 2%.

EUR mn Nov-13 Oct-13 Nov-12 2012
Imports 5,776.4 5,748.6 5,511.4 58,588.4
Exports 6,090.3 6,228.9 5,824.9 62,144.0
Balance 314.0 480.3 313.4 3,555.7
y/y % change        
Imports 4.8% 4.5% 5.2% 5.1%
Exports 4.6% 2.6% 8.9% 9.4%
Source: Statistical Office of the Slovak Republic        

Related Articles

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

Poland struggles in bid to oust Tusk

The Polish government spent March 6 canvassing for support for its alternative candidate for the European Council presidency to compatriot Donald Tusk. However, it met little success, even in its own ... 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