In April, foreign trade also resulted in positive numbers, for the third consecutive month

Slovakia's trade balance with foreign countries was in a surplus of almost EUR 293 million. The positive result was still influenced mainly by the higher export of motor vehicles or aircraft and by a lower value of imports of energy commodities to Slovakia.

According to preliminary results, goods in the amount of¹⁾ EUR 8.4 billion were exported from Slovakia in April, with year-on-year growth by 7.4%. Export growth continues from December 2022. After more than two years of year-on-year growth, the total import of goods dropped by 2.7% to EUR 8.1 billion. Thus, the balance of foreign trade was in surplus in the amount of EUR 292.9 million. In the corresponding period last year, the balance of foreign trade resulted in a deficit of more than EUR 516 million.

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Of the ten sections in the export structure, only four recorded a year-on-year growth. The most significant influence on the growth of total exports had the most traded section of foreign trade Machinery and transport equipment (SITC 7), which also includes the export of motor vehicles and aircraft. The value of exported goods in this section was year-on-year higher by more than a quarter (25.9%). The double-digit increase compared to the corresponding period last year continued for the fourth consecutive month. Machinery and transport equipment represented almost 63% of total exports in April. The majority of machinery and transport equipment (68.8%) went from Slovakia to the EU markets.

In April, the year-on-year growth in total exports was hampered by lower exports of the second most traded class - Market products (SITC 6), which includes products from several important Slovak industries such as metal processing, metallurgy, rubber industry, etc.

In the structure of imports, only four of the ten sections recorded a year-on-year growth. The year-on-year decrease in total imports was mainly influenced by the decrease in the value of imports in the section Mineral fuels (SITC 3), which also includes oil, electricity and natural gas. The value of imported goods in this section was lower by 45.5% year-on-year and at the same time the lowest since September 2021.

An even more significant decrease in total imports was prevented by higher imports of the section Machinery and transport equipment (SITC7), which also includes motor vehicle parts. Their value was higher by 13.5% year-on-year.

In April, 75.9% of Slovak exports and 66.3% of imports went to the EU member states²⁾. Intra-EU exports increased by only 0.1% year-on-year, while exports to extra-EU countries rose by as much as 39.4%. Imports from EU member states were higher by 4.9% and imports from the extra-EU countries, on the contrary, were lower by 15%.

Preliminary data for January-April 2023

From January to April 2023, compared to the corresponding period last year, the total export of goods increased by 11.2% to EUR 36.3 billion and total imports increased by 2.7% to EUR 35.3 billion. The balance of foreign trade was in surplus in the amount of EUR 1.1 billion. For the first four months of 2022, the balance was in deficit in the amount of EUR 1.7 billion.

Adjusted detailed data for January to March 2023

In January to March, compared to the corresponding period in 2022, the total export of goods increased by 12.3% to EUR 27.9 billion and total imports increased by 4.4% to EUR 27.1 billion. The balance of foreign trade was in surplus in the amount of EUR 779.1 million, last year the balance of foreign trade resulted in a deficit of EUR 1.1 billion in the first three months.