Slovakia's foreign trade swings to EUR 324.2mn surplus in Jan 2014

By bne IntelliNews March 11, 2014

Slovakia’s foreign trade swung into a surplus of EUR 324.2mn in January 2014 from a revised deficit of EUR 51.3mn the month before, preliminary data from the statistics office showed. The December’s gap figure was revised down from EUR 61.3mn.

Exports, which have been the sole driving force of the Slovak economic growth in the past two years, rose by 8.3% y/y in January 2014, following a revised 7.9% annual increase in December. Imports in January went up by 9.9% y/y after increasing by a revised 11.1% y/y in December. On a monthly basis, January’s exports rose 11.9% and imports increased by 3.8%.

In 2013, Slovakia's exports increased by 3.6% y/y to EUR 64.36bn, while imports rose 2.5% y/y to EUR 60.08bn, resulting in a foreign trade surplus of EUR 4.28bn.

IntelliNews comment: Slovakia’s trade figures expectedly swung back into a surplus in January after posting its first deficit since December 2011 the month before. Local analysts expect that the country will end 2014 with a surplus, which is likely to be higher compared to 2013 thanks to rising foreign demand.

EUR mn Jan-14 Dec-13 Jan-13 2013
Imports 4,904.3 4,724.0 4,462.1 60,077.4
Exports 5,228.6 4,672.7 4,826.0 64,361.1
Balance 324.2 -51.3 363.9 4,283.7
y/y % change        
Imports 9.9% 11.1% 6.1% 2.5%
Exports 8.3% 7.9% 8.6% 3.6%
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
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. Russia’s war economy boosted by rising oil prices
    8 days ago
  4. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  5. Russia’s $13.4bn current account surplus in March second highest since 2007
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 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
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss