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Foreign trade detailed data in August and in the first eight months of 2022
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Foreign trade detailed data in August and in the first eight months of 2022

09.11.2022
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09.11.2022

In August 2022, the import of goods to Slovakia exceeded the export, the negative the eight-month result of the balance thus approaches EUR 2 billion

For the first eight months of 2022, the Slovak Republic had the largest negative balance in foreign trade with the Russian Federation, the Republic of Korea and China. Exports significantly exceeded imports in trade, especially with Germany, Hungary, Austria and Czechia.

Based on adjusted data in August 2022, the total export of goods increased by 30.2% year-on-year to EUR 8.25 billion. At the same time, total imports increased by 29.9% to EUR 8.37 billion. Thus, the foreign trade balance was in deficit in August 2022 in the amount of EUR 117.5 million (in the corresponding period of 2021, the balance was in deficit in the amount of EUR 103.5 million).

As exports lagged behind imports in August, the result of the cumulative balance of foreign trade already approached the two-billion minus threshold, for January to August of 2022, it was in deficit in the amount of EUR 1.96 billion.

The Slovak Republic had the largest negative balance with the Russian Federation (EUR 5.15 billion), the Republic of Korea (EUR 3.56 billion), China (EUR 3.2 billion), Vietnam (EUR 2.79 billion), Taiwan (EUR 384.4 million), Malaysia (EUR 371 million) and Bangladesh (EUR 281.7 million).

The largest positive balance was with Germany (EUR 4.04 billion), Hungary (EUR 2.85 billion), Austria (EUR 2 billion), Czechia (EUR 2 billion), France (EUR 1.98 billion) Poland (EUR 1.68 billion), the United Kingdom (EUR 1.56 billion), the United States of America (EUR 1.42 billion), Italy (EUR 1.11 billion), Romania (EUR 609.9 million) and Spain (EUR 575.4 million).

Goods in the amount of EUR 66.79 billion were exported from the Slovak Republic in the first eight months of 2022. Compared to the corresponding period in 2021, total exports increased by 16.7%.

In terms of goods, the export of electricity increased by EUR 1.06 billion, passenger cars and other motor vehicles designed mainly for passenger transport by EUR 834.7 million, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 578.2 million, new rubber tires by EUR 368.3 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 364.1 million, telephone sets, including smartphones and other telephones for the cellular network or for other wireless networks by EUR 306.2 million and flat rolled products of iron or non-alloy steel, clad, plated or coated by EUR 262.8 million.

Exports of monitors and projectors, television receivers decreased the most by EUR 111.2 million and unrefined copper, copper anodes for electrolytic ratification by EUR 68.7 million.

Among the most important trading partners, exports to Germany increased by 11.4%, Czechia by 25.2%, Hungary by 51.4%, Poland by 13.2%, France by 10.2%, Austria by 18.3%, Italy by 22.4%, the United Kingdom by 7.5%, the United States by 16.3% and Romania by 19.8%. Exports to China decreased by 1.4% and to the Russian Federation by 55.7%.

In terms of the main economic groupings, exports to EU countries increased by 18.9% (represented 80.8% of the total Slovak exports) and to the OECD countries by 17.6% (represented 87.8% of the total exports of the SR).

In the first eight months of 2022, goods in the amount of EUR 68.75 billion were imported into the Slovak Republic, with a year-on-year growth by 24%.

In terms of goods, the import of petroleum gases and other gaseous hydrocarbons increased by EUR 2.12 billion, electricity by EUR 1.63 billion, parts, components and accessories of tractors and other motor vehicles by EUR 624 million, telephone sets, including smartphones and other telephones for the cellular network or for other wireless networks by EUR 557.2 million, petroleum oils and oils obtained from bituminous minerals, other than crude by EUR 517.5 million, petroleum oils and oils obtained from bituminous minerals, crude by EUR 466.6 million, black coal, briquettes, pellets, and similar solid fuels made from black coal by EUR 460.9 million and passenger cars and other motor vehicles designed mainly for passenger transport by EUR 363.3 million.

The import of parts and components suitable for use with flat panel display modules, transmission and reception apparatus for radio-telephony, radio-telegraphy, radio-broadcasting, television, television cameras, monitors and projectors decreased significantly by EUR 656.7 million, diagnostic or laboratory reagents on a backing and certified reference materials by EUR 129.5 million, articles of apparel and clothing accessories, including gloves of vulcanized rubber by EUR 97.3 million, automatic data processing machines and their units by EUR 61.2 million and compression-ignition internal combustion piston engines by EUR 56.7 million.

In relation to the most important trading partners, imports from Czechia increased by 13.7%, the Russian Federation by 76.3%, China by 24.4%, the Republic of Korea by 25.4%, Poland by 19.9%, Hungary by 46,9%, Vietnam by 11.4%, France by 7.5%, Italy by 10.2% and Austria by 14.3%. Imports from Germany decreased by 10.8% and Malaysia by 23.5%.

In terms of the main economic groupings, compared to the corresponding period in 2021, imports from EU countries increased by 19.9% (represented 63% of the total imports) and from OECD countries by 10.7% (represented 59.5% of the total imports of the SR).

Note: Data are preliminary (in FOB type value at current prices) prepared by the Statistical Office of the SR on the basis of data from the Customs Section of the Financial Directorate of the SR obtained within the customs procedure and from INTRASTAT-SK reports provided by the consignees and consignors of goods. In the OECD data, Costa Rica was included from January 2021 (it is a member of the OECD from 25 May 2021).

Data source: DATAcube. database:

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