Slovakia recorded a EUR 157.6 million trade surplus in November of 2019, wider than a EUR 50 million surplus a year earlier. Exports went down 4.3 percent to EUR 7309 million and imports slumped 5.8 percent to EUR 7152 million. Considering January to November, exports went up 1.6 percent to EUR 74616 million and imports rose 3.5 percent to EUR 73434 million, resulting in a EUR 1179 million surplus (down by EUR 1347 million from the corresponding period in 2018). Sales to the EU increased 0.6 percent and accounted for 84.4 percent of total shipments. Exports to the rest of the world went up 6.8 percent. 67.5 percent of total imports came from the EU and rose 5.1 percent while purchases from the rest of the world edged up 0.4 percent. Balance of Trade in Slovakia averaged 5.19 EUR Million from 1993 until 2019, reaching an all time high of 609 EUR Million in May of 2013 and a record low of -865 EUR Million in December of 2005.

Balance of Trade in Slovakia is expected to be 600.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Slovakia to stand at -50.00 in 12 months time. In the long-term, the Slovakia Balance of Trade is projected to trend around 150.00 EUR Million in 2020, according to our econometric models.

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Slovakia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
158.00 357.00 609.00 -865.00 1993 - 2019 EUR Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-09 07:00 AM Aug €-212M €-232.5M €-136.1M €-180M
2019-11-08 08:00 AM Sep €162.2M €-165.9M €128M €550M
2019-12-09 08:00 AM Oct €368.7M €140.4M €118M €135M
2020-01-09 08:00 AM Nov €157.6M €357.2M €118M
2020-02-07 08:00 AM Dec €157.6M € -150M


News Stream
2019-12-09
Slovakia Posts Widest Trade Surplus in Over a Year
The trade surplus in Slovakia rose to EUR 368.7 million in October of 2019 from EUR 304 million in the same month a year earlier and beating market expectations of a EUR 118 million surplus. It was the largest trade surplus since September last year, as exports went up 0.1 percent year-on-year to EUR 7,682.5 million while imports decreased 0.7 percent to EUR 7,313.8 million. Considering the first ten months of the year, the country's trade surplus narrowed to EUR 1,054.3 million from EUR 2,476.9 million in the corresponding month of 2018. Imports grew 4.4 percent to EUR 66.11 billion, driven by purchases from the EU (5.8 percent) and non-EU countries (1.4 percent). Exports increased 2 percent to EUR 67.17 billion, boosted by sales to the EU (0.9 percent) and non-EU countries (8.8 percent).

2019-11-08
Slovak Trade Surplus Narrows in September
The trade surplus in Slovakia narrowed to EUR 162.2 million in September of 2019 from EUR 483 million in the same month a year earlier but beating market expectations of EUR 128 million. Exports increased 0.7 percent year-on-year to EUR 6,974 million while imports jumped 5.7 percent to EUR 6,811 million. Considering the January-September period, the trade surplus decreased to EUR 715.9 million from EUR 2,173 million in the corresponding period of 2018. Exports rose 2.3 percent to EUR 59.46 billion, driven by sales to the EU (1.0 percent) and non-EU countries (9.3 percent). Imports increased 4.9 percent to EUR 58.75 billion, boosted by purchases from the EU (6.4 percent) and those from non-EU countries (2.1 percent).

2019-10-09
Slovak Trade Gap Widens in August
Slovakia's trade deficit rose to EUR 212 million in August of 2019 from EUR 108.9 million in the same month of the previous year and larger than an expected EUR 136.1 million shortfall. Exports fell 2.8 percent year-on-year to EUR 5,991 million and imports decreased at a softer 1.1 percent to EUR 6,203 million. Considering the first eight months of the year, the country's surplus narrowed significantly to EUR 508 million from EUR 1,690 million in the corresponding period of 2018. Imports advanced 7.1 percent to EUR 6,271.8 million, driven by acquisitions from the EU (7.1 percent) and non-EU countries (1.1 percent). Exports went up at a slower 5 percent to EUR 6,163 million, boosted by shipments to non-EU countries (12.4 percent) and the EU (1 percent).

2019-09-06
Slovak Trade Balance Swings To Deficit In July
Slovakia recorded a trade deficit of EUR 110.6 million in July of 2019 from a EUR 52.4 million surplus the same month of the previous year and in line with market expectations. Exports dropped 2.3 percent year-on-year to EUR 5,861 million while imports advanced 0.5 percent to EUR 5,971 million. Considering the January-July period, the trade surplus decreased to EUR 1,225 million from EUR 1,884 million in the corresponding period of 2018. Exports rose 2.6 percent to EUR 46.60 billion, driven by sales to the EU (0.4 percent) and non-EU countries (16.5 percent). Imports increased 4.3 percent to EUR 45.38 billion, boosted by purchases from the EU (6.0 percent) and those from non-EU countries (0.6 percent).

2019-08-08
Slovak Trade Surplus Narrows 54.8% in June
The trade surplus in Slovakia narrowed to EUR 203.6 million in June 2019 from EUR 450.5 million in the same month a year earlier and missing market expectations of EUR 325 million. Exports fell 7.3 percent year-on-year to EUR 6,284 million while imports dropped at a softer 4.0 percent to EUR 6,284 million. Considering the January-June period, the trade surplus decreased to EUR 1,331 million from EUR 1,832 million in the corresponding period of 2018. Exports rose 3.3 percent to EUR 40.73 billion, driven by sales to the EU (1.1 percent) and non-EU countries (17.2 percent). Imports increased 4.9 percent to EUR 39.41 billion, boosted by purchases from the EU (6.6 percent) and those from non-EU countries (1.3 percent).

2019-07-09
Slovak Trade Surplus Narrows in May
The trade surplus in Slovakia narrowed to EUR 133.1 million in May 2019 from EUR 395 million in the same month a year earlier and missing market expectations of EUR 3958 million. Exports fell 0.2 percent year-on-year to EUR 6.86 billion while imports rose 3.8 percent to EUR 6.72 billion. Considering the first five of the year, the trade surplus went down to EUR 1117.1 million from EUR 1381.1 million in the corresponding period of 2018. Exports advanced 5.5 percent to EUR 34.21 billion, driven by sales to the EU (2.8 percent) and non-EU countries (22.7 percent). Imports rose 6.6 percent to EUR 33.09 billion, boosted by purchases from the EU (9.3 percent) and those from non-EU countries (1.3 percent).


Slovakia Balance of Trade
Exports has been the main factor behind Slovakian robust growth and in the last ten years exports more than doubled. The biggest share of Slovakian exports are vehicles, machinery and electrical equipment, base metals and chemicals and minerals. Main export partners are Euro Area members with German, Czech Republic and Poland being the most important. The biggest share of Slovakian imports are machinery and transport equipment, intermediate manufactured goods, fuels and chemicals. Main import partners are Germany, Czech Republic, China and Russia. In 2015, Slovakia had the highest balance surplus with Germany, the UK, Poland and Austria. The largest balance deficit was recorded in trade with China, South Korea, Russia and Japan.

Slovakia Trade Last Previous Highest Lowest Unit
Balance of Trade 158.00 357.00 609.00 -865.00 EUR Million [+]
Current Account -284.00 -116.20 431.50 -1470.00 EUR Million [+]
Current Account to GDP -2.50 -2.00 4.30 -10.60 percent [+]
Imports 7152.00 7468.00 7590.00 287.00 EUR Million [+]
Exports 7309.00 7825.00 7825.00 312.00 EUR Million [+]
External Debt 105.50 103.45 105.50 35.63 EUR Billion [+]
Terms of Trade 100.33 100.54 127.54 75.55 points [+]
Capital Flows 752.31 -126.01 1745.33 -2076.71 EUR Million [+]
Foreign Direct Investment 380.70 -27.30 2101.80 -1435.60 EUR Million [+]
Gold Reserves 31.69 31.69 40.12 31.69 Tonnes [+]
Terrorism Index 0.06 0.12 0.50 0.00 [+]
Weapons Sales 12.00 22.00 173.00 1.00 USD Million [+]
Crude Oil Production 0.20 0.20 1.60 0.20 BBL/D/1K [+]