Despite the positive October´s balance, the trade balance for the ten months was in a deficit of over EUR 2.4 billion

Slovakia had the most significant negative foreign trade balance for ten months 2022 with the Russian Federation, the Republic of Korea and China. Exports significantly exceeded imports in trade, especially with Germany, Hungary and Austria.

Based on adjusted data, the total export of goods in October increased by 19% year-on-year to EUR 9.5 billion. and total imports increased by 23% to EUR 9.36 billion.

The balance of foreign trade was positive in the amount of EUR 138.5 million. (by EUR 238 million lower than in the corresponding period 2021).

Despite the fact that exports slightly exceeded imports in October, this did not affect the value of the cumulative ten-month balance of foreign trade much, it was in deficit in the amount of EUR 2.41 billion.

The Slovak Republic had the largest negative balance with the Russian Federation (EUR 6.02 billion), the Republic of Korea (EUR 4.59 billion), China (EUR 4.42 billion), Vietnam (EUR 3.58 billion), Malaysia (EUR 489.9 million), Taiwan (EUR 483.9 million) and Bangladesh (EUR 363 million).

The largest positive balance was with Germany (EUR 5.67 billion), Hungary (EUR 3.51 billion), Austria (EUR 2.52 billion), Czechia (EUR 2.47 billion), France (EUR 2.33 billion), the United Kingdom (EUR 2.12 billion), Poland (EUR 2.04 billion), the United States of America (EUR 1.83 billion), Italy (EUR 1.44 billion), Romania (EUR 808.9 million) and Spain (EUR 790.2 million).

Goods in the amount of EUR 85.24 billion were exported from the Slovak Republic in the first ten months of 2022. Compared to the corresponding period in 2021, total exports increased by 17.8%.

In terms of goods, the export of passenger cars and other motor vehicles designed mainly for passenger transport increased by EUR 2.01 billion, electricity by EUR 1.22 billion, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 858.1 million, new rubber tires by EUR 481.5 million, mineral or chemical nitrogenous fertilizers, other than in tablets or similar. forms or other than in packages with a gross weight of up to 10 kg by EUR 363.1 million, electric accumulators, including their separators by EUR 300.7 million and flat rolled products of iron or non-alloy steel, clad, plated or coated by EUR 289.1 million.

Exports of unrefined copper, copper anodes for electrolytic ratification decreased the most by EUR 101.7 million and motor vehicles for freight transport by EUR 41.4 million.

Among the most important trading partners, exports to Germany increased by 13.5%, Czechia by 23.4%, Hungary by 45.6%, Poland by 12%, France by 8.1%, Austria by 17.6%, Italy by 21.6%, the United Kingdom by 11.7%, the United States by 27% and Romania by 20.9%. Exports to the Russian Federation decreased by 56.5%.

In terms of the main economic groupings, exports to EU countries increased by 18.7% (represented 80.4% of total exports of the Slovak Republic) and to OECD countries by 18.2% (represented 87.7% of the total exports of the Slovak Republic).

In the first ten months of 2022, goods in the amount of EUR 87.65 billion were imported into the Slovak Republic, with a year-on-year growth by 24.8%.

In terms of goods, the import of petroleum gases and other gaseous hydrocarbons increased by EUR 2.44 billion, electricity by EUR 2 billion, parts, components and accessories of tractors and other motor vehicles by EUR 1.11 billion, telephone sets, including smartphones and other telephones for the cellular network or for other wireless networks by EUR 769.9 million, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 664.2 million, petroleum oils and oils obtained from bituminous minerals, crude by EUR 590.1 mil., passenger cars and other motor vehicles designed mainly for passenger transport by EUR 544 million and electric accumulators, including their separators by EUR 514 million.

The import of diagnostic or laboratory reagents on backing and certified reference materials dropped significantly by EUR 131.3 million, clothing and clothing accessories, including gloves made of vulcanized rubber by EUR 99.6 million, machines for automatic data processing and their units by EUR 90 million, iron ores and concentrates, including roasted pyrites by EUR 66.6 million and processed tobacco and its substitutes, tobacco extracts and essences by EUR 54.3 million.

In relation to the most important trading partners, imports from Czechia increased by 14%, China by 28.1%, the Russian Federation by 55.8%, the Republic of Korea by 28%, Poland by 19.8%, Hungary by 52.2%, Vietnam by 13.9%, France by 9.2%, Italy by 9.8% and Austria by 14.2%. Imports from Germany dropped by 8.4% and Malaysia by 17.5%.

In terms of the main economic groupings, compared to the corresponding period in 2021, imports from EU countries increased by 20.9% (represented 62.7% of total imports) and from OECD countries by 12.8% (represented 59.3% of total imports of the SR).