Slovakia's foreign trade surplus widens to fresh all-time high of EUR 664.1mn in May 2013

By bne IntelliNews July 9, 2013

Slovakia’s foreign trade balance showed a surplus of EUR 664.1mn in May 2013, by 61% higher y/y and the highest on record, as exports kept growing, while imports shrank, preliminary data from the statistics office showed. The office revised the April surplus up to EUR 576.6mn from EUR 563.9mn.

Exports, which have been the sole driving force of the Slovak economic growth last year, slowed down to a 3.6% annual growth in May from a revised 10.3% y/y growth in April. Imports shrank by 1.1% y/y following a 4.5% y/y rise in April. On a monthly basis, May’s exports increased by 0.3%, while imports were by 1.4% lower.

For the first five months of the year, exports increased by 4.2% y/y to EUR 26.47bn, while imports edged 0.3% higher y/y to EUR 23.93bn, resulting in a foreign trade surplus of EUR 2.54bn, by 65% higher than in the same period last year.

IntelliNews comment: Slovakia’s exports slowed down in May after posting a surprise recovery in April that followed a sharp drop in March, which was their biggest annual drop since October 2009. The slowdown is in line with expectations for subdued external demand, which is projected to dampen Slovakia’s export-driven economic growth to less than 1% this year from 2% in 2012. Slovakia’s Institute of Informatics and Statistics (Infostat) has forecast the contribution of net exports to GDP to be neutral in the first half of 2013, or even negative.

EUR mn May-13 Apr-13 May-12 2012
Imports 4,981.3 5,051.5 5,036.4 59,223.8
Exports 5,645.4 5,628.1 5,448.9 62,833.0
Balance 664.1 576.6 412.4 3,609.2
y/y % change        
Imports -1.1% 4.5% 0.7% 6.2%
Exports 3.6% 10.3% 10.6% 10.7%
Source: Statistical Office of the Slovak Republic        

Related Articles

EU to fund feasibility study on Slovakia’s proposed Eastring gas link to Balkans

The EU has agreed to help fund a feasibility study on the Eastring pipeline project, which would link Slovakia to the Balkan markets, Slovak transmission system operator Eustream announced on May 26. ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland secures key permit for gas link with Slovakia

Polish state-owned gas grid operator Gaz-System has secured an environmental permit for the construction of a gas pipeline that will be part of a planned gas link with Slovakia, Gaz-System announced ... 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