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Foreign trade development in May 2020 and in the first five months of 2020

Foreign trade development in May 2020 and in the first five months of 2020

Last update: 09.07.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Foreign trade
Publish Date: 09.07.2020

 

 


In May, the unfavourable development of foreign trade of the SR continued due to the measures adopted in connection with the global pandemic. In May 2020, the total exports of goods reached EUR 4 595,7 million with a year-on-year decrease by 33,9 %. The total imports of goods decreased by 35,8 % to EUR 4 396,1 million. The foreign trade balance was in surplus in the amount of EUR 199,6 million. (by EUR 94,3 million higher than in the corresponding period last year).

In January and May 2020, compared with the corresponding period last year, the total export of goods decreased by 20,1 % to EUR 27 363,4 million and the total import  by 16,7 % to EUR 27 928,8 million. The foreign trade balance was in deficit in the amount of EUR 565,4 million.

In January and May 2020, compared with the corresponding period last year, export to the EU Member States decreased by 19,4 % and it represented 79,9 % of the total export. Import from the EU Member States represented 65,4 % of the total import and it dropped by 17 %, year-on-year.

In January and May 2020, compared with the corresponding period in 2019, export to the non-EU Member States decreased by 22,8 % and it represented 20,1 % of the total export. Import from the non-EU Member States represented 34,6 % of the total import and it decreased by 16,3 %, year-on-year.

In the foreign trade of the SR, the most traded SITC section was Machinery and transport equipment with a share of 59,8 % of the total export and 47,8 % of the total import. 

In May 2020after seasonal adjustment, the total export of goods reached the value of EUR 4 613 million with a year-on-year decrease by 30,7 %.  The total import of goods decreased by 32,3 % to EUR 4 490,1 million. The foreign trade balance was in deficit in the amount of EUR 122,9  million (by EUR 98,7 million higher deficit than in the corresponding period last year).


Note: Data are preliminary, at current prices, in the FOB-type value. Detailed data will be published, according to the First Release Calendar, on 7th August 2020. Information was processed 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 clearance and INTRASTAT-SK declarations, which are provided by consignee and consignor of goods. The seasonal analysis is carried out by the DEMETRA software. EU data are available from January 2020 excluded the UK.

 

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