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Foreign trade development in June 2021 and in the first six months of 2021
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Foreign trade development in June 2021 and in the first six months of 2021

Last update: 09.08.2021
ilustratívny obrázok/illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Foreign trade
Publish Date: 09.08.2021



Slovak exports and imports in June surpassed the pre-Covid level by almost a fifth, increasing year-on-year for the fifth consecutive month

In June 2021, foreign trade was in surplus of EUR 297 million, the trade balance has already been in surplus for 14 months. Exports of the vast majority of goods item reached significantly higher values than before the pandemic, i.e. in June 2019.

The total export of goods in June 2021 reached the value of EUR 7,7 billion, with a year-on-year growth by 16,6 %. Total imports of goods also rose by 28,3 % to EUR 7,4 billion. The total values of both exports and imports were the second highest this year and were significantly higher even compared to the pre-pandemic values (June 2019). Exports exceeded the values of two years ago by 19 % and imports by 18,7 %.

In June 2021, the predominance of exports over imports was again mainly due to car exports. The balance of foreign trade with the EU countries slightly deteriorated year-on-year in June, but exports still exceeded imports by EUR 1 billion. With the non-EU member states, the balance has been in a long-term deficit, in this June it reached EUR -752 million.

Of the ten classes in the structure of exports, eight showed a year-on-year increase and at the same time nine had higher values than before the pandemic (compared to June 2019). These were significantly higher values, ranging from 13 % to 170 %. Compared with June 2019, the lowest year-on-year growth by 17 % was reflected in the most traded class - Machinery and transport equipment, which also includes car exports (SITC 7). The highest growth compared to the situation before the pandemic by 170 % was in exports of Oils, fats and waxes (SITC 4). When importing goods to Slovakia, nine out of ten classes showed a year-on-year increase, and all values also exceeded the level of June 2019. Imports of Raw Materials (SITC 2) increased the most dynamically.

Seasonally adjusted foreign trade data

After seasonal adjustment of data, in June 2021, the total export of goods reached the value of EUR 7,4 billion, with a year-on-year growth by 15,6 %. Total imports of goods increased by 28,3 % to EUR 7,3 billion. The foreign trade balance was in surplus in the amount of EUR 134,7 million (by EUR 606 million lower than in June 2020).

Development in the first half of 2021 compared with the corresponding period in 2020

For January-June 2021, compared to the corresponding period last year, total exports of goods increased by 29,4 % to EUR 44,2 billion and total imports by 25,2 % to EUR 42,2 billion. The foreign trade balance was in surplus in the amount of EUR 2 billion (by EUR 1,6 billion higher than in the corresponding period last year). In the first half of 2021, it was the highest since 2014.

Exports to EU Member States in January-June 2021 compared with the corresponding period last year, increased by 28,6 % and accounted for almost 80 % of total exports. Goods from EU Member States accounted for 66 % of total imports and increased by 26,4 % year-on-year.

Exports to non-EU countries in January-June 2021 compared with the corresponding period last year, increased by 32,8 % and imports from the non-EU countries by 23 %.

The most traded SITC class in the foreign trade of the SR was Machinery and transport equipment with a share of 63,9 % in total exports and 50,4 % in total imports.

Note: Data are in current prices in FOB type value. Detailed data will be published according to the calendar of the first release on 8th september 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 SR obtained within the customs procedure and from INTRASTAT-SK reports provided by consignees and consignors.
Seasonal analysis is performed by DEMETRA software.
From January 2020 EU data are without the United Kingdom.

 

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