After two months, the Slovak exports returned to a year-on-year growth, affected mainly by the export of motor vehicles

In April, imports also recorded a year-on-year increase, for the first time this year. Slovakia's trade balance ended in significantly positive values for the fourth consecutive month in. Thus, the foreign trade surplus for the first four months of 2024 reached more than double the value compared to the corresponding period last year.

In April 2024, according to preliminary results, goods in the amount of¹⁾ EUR 9 billion were exported from Slovakia, with a year-on-year growth by 6.3%. The increase in exports was the highest since June 2023. The most important factor was the higher export of motor vehicles.

The value of imports²⁾ increased by 4.4% to EUR 8.5 billion. The value of imported goods was higher year-on-year for the first time this year. It was mainly affected by the almost 21% increase in the value of imported miscellaneous industrial products.

The balance of foreign trade was in surplus in the amount of EUR 465.8 million, which was a better result by EUR 172.5 million compared to the corresponding period last year.

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Of the ten sections in the exports structure, nine of them showed a year-on-year growth in the fourth month of this year. The most traded section of foreign trade Machinery and transport equipment (SITC 7), which also includes the export of motor vehicles, had a significant impact on the development of the Slovak exports. After three months, the value of exported machinery and transport equipment showed a year-on-year growth by almost 4%.

In the structure of imports, seven out of ten sections showed a year-on-year increase. The increase in total imports was mainly influenced by the growth in the value of imports in the class Miscellaneous industrial products (SITC 8). The value of imported goods in this section was higher by 20.9% year-on-year.

The most traded SITC section in Slovakia's foreign trade was Machinery and transport equipment with a share of 61.9% of total exports and 48.7% of total imports.

78.6% of the Slovak exports went to EU member states³⁾ and imports from them represented 66.9%. Exports to the EU member states increased by 9.1% year-on-year in April. Imports from the EU member states increased by 7.2%. Exports to extra-EU countries decreased year-on-year by 3.1%, and imports from these countries were lower by 0.8%.

Preliminary data for January to April 2024

In the first four months of this year, exports decreased year-on-year by 3.7% to EUR 35.1 billion and imports decreased by 7.2% to EUR 33 billion. The balance of foreign trade was in surplus in the amount of EUR 2.2 billion. For the corresponding period last year, it was lower by EUR 1.2 billion.

Adjusted detailed data for January to March 2024

For January and March 2024, according to adjusted data, year-on-year exports decreased by 6.7% to EUR 26.1 billion and imports decreased by 10.7% to EUR 24.5 billion. The balance of foreign trade was in surplus in the amount of EUR 1.7 billion. In the corresponding period last year, the balance of foreign trade ended with a surplus in the amount of EUR 637.2 million.