POST Online Media Lite Edition


Slovakia exports remain historically high

Christian Fernsby |
Exports of goods and services from Slovakia are increasing for the sixth month in a row and remain at the level of historically maximum values.

Article continues below

Topics: SLOVAKIA   

Imports grew after months of decline due to imports of goods from EU countries.

In November 2020, total exports of goods amounted to EUR 7,5 billion. It thus increased by 2,5 % year-on-year and is the second highest value this year at the level of historical maximums. Total imports of goods increased by 1,1 % year-on-year to EUR 7,3 billion.

The positive balance of foreign trade reached the volume of EUR 222,9 million. Although the November surplus accounted for only a quarter of the record October values, it was still by almost two times higher (EUR 103,2 million) in the corresponding period last year.

The growth of exports in the most important class of foreign trade of the Slovak Republic - Machinery and Transport Equipment (SITC7), which also includes the automotive industry, despite the slowdown for the third month in a row, also affected the favorable development of Slovak exports in November.

Of the nine classes, only two, though the most traded classes, showed a positive balance, i.e. a surplus of exports over imports, while the others showed a surplus of imports over exports. The most significant positive balance was again reported by Machinery and Transport Equipment, which also includes automobiles.

Exports in this class exceeded imports by more than a billion EUR. The surplus in this class was higher by 15,2 % compared to a situation in November 2019. The positive balance of EUR 57 million was reported also by the second most traded class - Market products (SITC 6).

Exports of machinery and transport equipment reached EUR 5,1 billion in November and was the second highest in the last decade. In a year-on-year comparison, it increased to non-EU countries by 37,6 %, but only more than a quarter of exports of machinery and transport equipment goes there. Exports to EU Member States dropped by 3,2 %.

After eight months of decline, total imports of goods to Slovakia were higher by 1,1 % year-on-year. In particular, imports from the EU countries increased by 11,6 %, accounting for almost three quarters of total imports.

Of the important classes, imports of Machinery and Transport Equipment from the EU and imports in the class - Chemicals (SITC5) contributed to the growth of imports. Imports from non-EU countries were lower by 18,9 % year-on-year.

Of total exports, exports to EU Member States accounted for 76,9 % and imports from EU Member States accounted for 72,4 % of total imports.

In January to November 2020, compared to the corresponding period last year, total exports of goods decreased by 7,6 % to EUR 68,9 billion and total imports by 9,7 % to EUR 66,4 billion. The balance of foreign trade was active in the amount of EUR 2,6 billion (by EUR 1,5 billion higher than in the corresponding period last year).

Exports to EU Member States in January to November 2020 decreased by 8,5 % compared to the corresponding period last year and accounted for 78,6 % of total exports. Imports from EU Member States accounted for 67,4 % of total imports and fell by 7,1 % year- on-year.

Exports to non-EU countries in January to November 2020 decreased by 3,8 % compared to the corresponding period last year and accounted for 21,4 % of total exports. Imports from non-EU countries accounted for 32,6 % of total imports and dropped by 14,7 % year-o- year.

The most traded SITC class in the foreign trade of the Slovak Republic were Machinery and Transport Equipment with a share of 63,8 % in total exports and 50,4 % in total imports.

After seasonally adjusted data in November 2020, total exports of goods reached the value of EUR 6,9 billion, with a year-on-year growth of 3,2 %. Total imports of goods increased by 0,9 % to EUR 6,5 billion. The foreign trade balance was active in the amount of EUR 380,1 million (by EUR 152,3 million higher than in November 2019).

What to read next

EU trade in goods balance close to €200 bn surplus in 2019
Despite U.S. pressures Canada's exports increased, trend looks excellent
Unemployment rate in Slovakia drops to 9.44% in July

Union action shuts down some U.S. West Coast port terminals

Labor actions have disrupted work at several key U.S. West Coast port terminals, all of which are part of protracted negotiations for a new contract for dockworkers.


U.S. blocks ex-Haitian PM Lamothe from entering country, citing corruption
Ukraine used as excuse to bypass working time rules, say unions
Valparaíso, The Jewel of the Pacific
State and NatWest to sell €110.4m in Permanent TSB shares


Indian official fined $640 for draining reservoir to retrieve phone

Governor Parson declaring drought alert in Missouri
Canadian cargo, including five student CubeSats, launching to space
3 men arrested, over 800 kg of cocaine seized in Western Australia
Detroit to complete yearlong incinerator demolition on June 11 with implosion of smokestack
U.S.: Severe thunderstorms with tornadoes possible


NHTSA proposes automatic emergency braking requirements for new vehicles

Manchester: Skills Bootcamps offer free courses to help people fast-track into jobs
U.S. firms cut oil rigs to 696
RCEP trade deal entered into force for Philippines
Research permits for 3 offshore wind farm projects in Finland's economic zone
Australia raises minimum wage by 5.75 pct

Trending Now

Electrolytes, critical elements to keep your body working

Indian official fined $640 for draining reservoir to retrieve phone

Governor Parson declaring drought alert in Missouri

Manchester: Skills Bootcamps offer free courses to help people fast-track into jobs


Commission to refer Italy back to Court of Justice for failing to properly treat urban waste water

New York City announces $8.4m grant to purchase school food from local farmers
New York: Syracuse and county issue call for youth summer job sites
Greece and Bulgaria to build one of first 5G cross-border corridors in Europe
Denmark and Germany sign Bornholm Energy Island agreement
Netherlands leads Europe with bill for Minimum Tax Rate Act 2024

Today We Recommend

FTC says Ring employees illegally surveilled customers


Dell Q1 revenue down 20%

Lululemon athletica Q1 revenue increased 60%

Dechra Pharmaceuticals agreed £4.46bn bid from Swedish private equity firm EQT


Alstom unveils first of 106 new trainsets for Singapore’s MRT system upgrade

Dechra Pharmaceuticals agreed £4.46bn bid from Swedish private equity firm EQT
Amazon charged with violating children’s privacy law by keeping kids’ Alexa voice recordings forever
FTC says Ring employees illegally surveilled customers
Diebold Nixdorf filed for bankruptcy
French firm invents kit to convert petrol cars into plug-in hybrids


African Development Bank appoints Richard Kwaku Ofori-Mante acting director

Earthfirst Films appoints Tim Harper chief science officer announces Majed Al Sorour as president
Fredrik Göransson appointed new CEO of Transtronic
Newmont appoints Karyn Ovelman as EVP, CFO
Intracom Middle East appoints general manager for MEA & APAC


South Korea's revised GDP grows 0.3 pct in Q1

Eurozone inflation drops to 6.1 pct in May
Brazil's economy grows 1.9 pct in Q1
Euro area unemployment at 6.5%
Turkish economy beats expectation, grows by 4 pct in Q1
Canada's real GDP grows 0.2 pct in April


Broadcom Q2 revenue grew 8%

Dell Q1 revenue down 20%
Natuzzi Q1 consolidated revenue €86.1 million
VMware Q1 revenue $3.28 billion
Lululemon athletica Q1 revenue increased 60%
Hormel Foods Q2 sales $3.0 billion


Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?


Russia: First batch of smolt from Norway imported to Murmansk region in 2023

FAO Food Price Index declines in May
First batch of grain products for export passed through "New land grain corridor Russia-China"
Bulgaria imported more than 55,000 tons of fresh vegetables in January and February
Norwegian government reaches agreement for 25% salmon tax
EU tightening requirements, horses risk getting stuck at border


How to get people to pay their taxes

Consumers pay strategically to forget guilty purchases
'Employee of the Month' is not a good thing, especially in Asia
Conservative CEOs acquire international firms, liberal counterparts make alliances
Employees should not be allowed to choose their teammates
Online retailers, charge upfront membership fee in exchange for free shipping


British Airways penalised over delayed COVID refunds

Former Wells Fargo senior executive Carrie Tolstedt agrees to settle $3 million SEC fraud charges
Pennsylvania: Shell acknowledges exceeding emission limitations, set aside millions for improvement projects
After exposure, Ukrtatnafta transfers to state budget over USD 32 mln of taxes unpaid by former owners
Settlement reached with Walmart over brass knuckles illegally sold to Californians
New York State AG secures $300,000 from online sporting goods retailers for not protecting consumers’ personal info



Jewels of Emirates show to kick off at Expo Centre Sharjah

Sotheby’s to unveil largest ruby, most vivid red diamond
Beer, bourbon, and barbecue returns to Virgina in style
Piazza di Siena horse show returns to Rome
Prague Fringe will welcome more than 200 performances of around 40 different shows
Renaissance Faire, festival of old English habits


Volkswagen Golf R 333, limited to 333 vehicles and with 333 PS

Buick introduces first premium crossover Envista
Lamborghini unveils Urus Performante Essenza SCV12 limited edition
2024 Ford Ranger, strength and improved ground clearance
750S, lightest and most powerful McLaren
Bavaria Cruiser 46 Style, for people who love best yacht design


Turn your loggia into cozy home office

Hallway lights for every style
TerraFlame, clean burning flame outdoor and indoor
Waterford Crystal, Irish pride since 1783
Great ways to make your bathroom looks luxurious on a budget
Italian coffee makers to feel like a pro


Motorola edge 40 business edition smartphone, security for business people

Motorola edge 40 smartphone, great camera and speed
Audioresearch Reference 750 SEL monoblock amplifier, 77.2 kg and 750 watts
Gigabyte AERO 14 OLED laptop, created to protect your eyes
Technics stereo power amplifier SE-R1, perfect in every detail
Ballfinger open reel tape machine M 063 H6, device you should have


Zimbabwe bans Johnson & Johnson baby powder amid fears of causing cancer

Pharmacists in British Columbia can prescribe contraceptives, treatments for minor ailments
Researchers develop new tool for cancer diagnosis
People coinfected with COVID and most prevalent herpesviruses at increased risk of cardiovascular disease
FDA proposes new medication guide for patients
No more free vapes for kids in UK


UAE to send spaceship to asteroid belt to find origin of life

Peru passes important ocean protection law to protect first 5 nautical miles at sea
One-third of galaxy's most common planets could be in habitable zone
Shanghai records hottest May day in 100 years
First ‘plastic rain’ weather forecast predicts 50kg of microplastics over Paris
California snowlines on track to be 1,600 feet higher by century’s end