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Foreign trade development in April 2021 and in the first four months of 2021
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Foreign trade development in April 2021 and in the first four months of 2021

Last update: 09.06.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Foreign trade
Publish Date: 09.06.2021

 

 


Slovak exports doubled year-on-year and also exceeded the pre-covid level

In April 2021, compared to the same period last year, exports of goods increased by 101,9 % and imports by 73 %. High growths were affected by the low comparable base, as in April 2020, during the first wave of the pandemic, companies reduced or discontinued production as a result of the measures.

The current value of exports is by one tenth higher and the current value of imported goods by one twentieth higher than in the pre-covid period (April 2019). This year, growths not only surpassed last April's slump - exports by 45,5 % and imports by 39,2 % - but also exceeded it by an increase.

In April 2021, total exports of goods reached the value of EUR 7,2 billion and total imports of goods increased to EUR 7,0 billion. However, they did not exceed the record values from the previous month, when both exported and imported goods reached the highest value in the last decade.

In April 2021, the foreign trade balance was in surplus in the amount of EUR 201,3 million. Although it is the lowest this year, it is still significantly better than a year ago, when the balance was in deficit – EUR 482,2 million. The value of imported goods exceeded the value of exported goods also in April 2019, i.e. by EUR 106,9 million.

As for the ten sections in the structure of exports, nine of them recorded a year-on-year increase, with increases ranging from 7,6 % to 146,4 % in the case of the most traded section in the structure of Slovak foreign trade - Machinery and transport equipment (SITC 7). A decrease of 6,9 % was recorded in only one, less significant section - Oils, fats and waxes (SITC 4).

Even with the import of goods to Slovakia, nine from ten section recorded a year-on-year increase. Growth ranged from 5,9 % to 115 %, where, as in the case of exports, the most dynamic year-on-year growth in imports was in section of the Machinery and transport equipment. Only the less significant section of foreign trade - Other (SITC 9) recorded a decrease.

Development in the four months of 2021 compared to the same period in 2020

In January to April 2021, total exports of goods increased by 28 % year on year to EUR 29,4 billion and total imports by 18,5 % to EUR 27,9 billion. The foreign trade balance was in surplus in the amount of EUR 1,5 billion.

In January to April 2021, compared to the same period last year, exports to EU Member States increased by 26,2 % and accounted for 78,7 % of total exports. Imports from EU Member States accounted for 66,5 % of total imports and increased by 22,3 % year on year.

In January to April 2021, compared to the same period last year,  exports to non-EU countries increased by 35,1 % and accounted for 21,3 % of total exports. Imports from non-EU countries accounted for 33,5 % of total imports and fell by 11,5 % year on year.

The most traded SITC section in the foreign trade of the Slovak Republic was the Machinery and transport equipment with a share of 64,8 % in total exports and 51,2 % in total imports.

Seasonally adjusted foreign trade data 1)

In April 2021, after seasonal adjustment of data, the total export of goods amounted to EUR 7 244,8 mil., with a year-on-year growth of 97,9 %. Total imports of goods increased by 71,4 % to EUR 7 039,2 million. The foreign trade balance was in deficit in the amount of EUR 205,6 million.

Note: Data are preliminary, at current prices in FOB type value. Detailed data will be published according to the calendar of the first release on 8 July 2021. The information was prepared by the Statistical Office of the SR on the basis of data from the Customs Section of the Financial Directorate of the Slovak Republic obtained within the customs procedure and INTRASTAT-SK by the consignees and consignors of the goods.
Data for the EU have been without the United Kingdom since January 2020
1)
Seasonal analysis is performed by DEMETRA software.

 

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