Exports of goods recorded double-digit year-on-year growth for the 4th consecutive month however, it lags behind the growth of imports

In February, compared to the corresponding period in 2021, total exports of goods increased by 11.6% to EUR 8 049.3 million and total imports increased by 22.9% to EUR 8 248.6 million. The foreign trade balance was in deficit in the amount of EUR 199.3 million.

The foreign trade balance for January and February 2022 was in deficit in the amount of EUR 552.7 million.

The Slovak Republic had the largest deficit with the Russian Federation (EUR 1 702.3 million), China (EUR 779 million), the Republic of Korea (EUR 764.3 million), Vietnam (EUR 700.7 million), Malaysia (EUR 102.5 million), Taiwan (EUR 80.3 million).

The highest surplus was with Germany (EUR 963.2 million), Czechia (EUR 608 million), Hungary (EUR 554 million), Poland (EUR 532.8 million), Austria (EUR 460.2 million), France (EUR 414.7 million), Italy (EUR 391.7 million), and the United Kingdom (EUR 346.8 million), the United States of America (EUR 325.9 million), Spain (EUR 200.5 million), and Romania (EUR 191 million).

Exports of the Slovak Republic was represented by goods in the amount of EUR 15 620,7 million. Compared to the corresponding period in 2020, by 13,7% more goods were exported.

In terms of goods, exports of monitors and projectors and televisions increased by EUR 186.1 million, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 118.6 million, flat-rolled products of iron or non-alloy steel, hot-rolled, not clad, plated or coated by EUR 101.2 million, new rubber tires by EUR 92.4 million, electricity by EUR 83.3 million, flat rolled products of alloy steel other than stainless by EUR 77.6 million, mineral or chemical nitrogenous fertilizers, other than in tablets or the like in other forms than in packages with a gross weight not exceeding 10 kg by EUR 71 million, flat-rolled products of iron or non-alloy steel, clad, plated or coated by EUR 70.8 million.

In terms of goods, exports of passenger cars and other motor vehicles designed mainly for passenger transport dropped the most by EUR 275.6 million, motor vehicles for freight transport by EUR 38.1 million, telephone sets, including telephones for the cellular network or for other wireless networks by EUR 35.5 million.

Within the most important trading partners, exports to Germany increased by 12.1%, Czechia by 30.4%, Poland by 15.5%, Hungary by 30.6%, Austria by 20.6%, Italy by 29%, the United Kingdom by 9.1%, China by 2.6%. Exports to France decreased by 3.6%, the United States by 4.5%, Switzerland by 8% and the Russian Federation by 1.9%.

From the point of view of the main economic groupings, exports to EU countries increased by 16.9% (representing 81,9% of total exports of the SR) and to OECD countries by 14,5% (representing 88% of total exports of the SR).

Imports into the Slovak Republic was represented by goods in the amount of EUR 16 173,4 million EUR, with a year-on-year growth by 25.1%.

In terms of goods, imports of oil gases and other gaseous hydrocarbons increased by EUR 814,9 million, petroleum oils and oils obtained from bituminous minerals, crude by EUR 216,4 million, electricity by EUR 94,5 million, coal, briquettes ovoids and and similar solid fuels manufactured from coal by EUR 81.3 million, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 77.2 million, mineral or chemical nitrogenous fertilizers, other than in tablets or the like in other forms than in packages with a gross weight not exceeding 10 kg by EUR 74.4 million, passenger cars and other motor vehicles designed mainly for passenger transport by EUR 70.4 million.

In terms of goods, imports of parts of flat panel display modules, transmission and reception apparatus for radio-broadcasting or television, radar apparatus, radio receivers, monitors and projectors decreased the most by EUR 59.1 million, tractors by EUR 33 million, diesel piston engines with internal combustion by EUR 26.3 million, seats, their parts and components by EUR 22.2 million, manufactured tobacco and manufactured tobacco substitutes, tobacco extracts and essences by EUR 18.2 million.

In relation to the most important trading partners, imports from the Russian Federation increased by 123,6%, Czechia by 6,4%, China by 34,4%, Korean Republic by 12,3%, Poland by 16,6%, Vietnam by 6,9%, France by 6,1%, Hungary by 11,8% and Italy by 7,4%. Imports from Germany decreased by 8,2%, Romania by 5,1%, Spain by 7%.

In terms of the main economic groupings, compared to the corresponding period in 2021, imports from the EU countries increased by 16,4% (representing 60,2% of total imports) and OECD countries by 5,9% (representing 56,7% of total imports from the SR).