The balance of trade ended with the second highest surplus this year, exports were higher than imports by EUR 647 million in June

The value of Slovak exports and imports was lower year-on-year for the second consecutive month, while the decline deepened. The significant decrease in exports compared to last year's June was mainly affected by the decrease in the export of cars. Imports decreased due to the lower value of imported motor vehicle parts again.

According to preliminary results, the export of goods from Slovakia reached a value of EUR 9.1 billion in June 2024¹⁾, recording a year-on-year decrease of 6.6%. Nevertheless, it was the second highest value this year. Slovakian exports recorded a year-on-year decline for the fourth time this year.

Imports of goods²⁾ decreased by 6.1% to EUR 8.4 billion. Imports recorded a year-on-year lower value for the fifth time this year. The balance of trade continued with a surplus, in June in the volume of EUR 647.4 million. In the same period last year, the balance of foreign trade ended with a surplus higher by almost EUR 100 million.

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As for the ten sections in the structure of exports, eight of them recorded a year-on-year decrease in the sixth month of this year, among them all the most traded. The section of Machinery and transport equipment (SITC 7), which also includes the export of motor vehicles, had a significant impact on the development of Slovak exports. The value of goods was by 8.7% lower year-on-year.

In the structure of imports, seven out of ten sections recorded a decrease in June compared to the same month last year. The decrease in the value of imports in the section of Machinery and transport equipment (SITC 7), which also includes motor vehicle parts, had the greatest effect on the lower overall import. The value of goods in this section was lower by up to 7.3% year-on-year.

The most traded section of SITC in foreign trade of the Slovak Republic was Machinery and transport equipment with a share of 63.4% in total exports and 51.3% in total imports.

77.2% of Slovakia's exports went to EU member states³⁾ and imports from them accounted for 68.9%. Exports to EU member states decreased by 7.5% year-on-year in June. Imports from EU member states fell by 5%. Exports to non-EU countries decreased by 3.4% year-on-year. Imports from these countries were lower by 8.4%.

Preliminary data for January to June 2024

In the first six months of this year, exports decreased year-on-year by 4.3% to EUR 53.4 billion and imports decreased by 6.1% to EUR 50.2 billion.  The balance of foreign trade was in surplus in the amount of EUR 3.2 billion. In the same period last year, it was by EUR 865.3 million lower.

Adjusted detailed data from January to May 2024

From January to May 2024, according to adjusted data, exports decreased year-on-year by 3.8% to EUR 44.4 billion and imports decreased by 6.1% to EUR 41.8 billion. The balance of foreign trade was in surplus in the amount of EUR 2.6 billion. In the same period last year, the balance of foreign trade ended with a surplus of EUR 1.6 billion.