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Financial News: Slovakia Trade Balance Swings To Deficit In April

Slovakia Trade Balance Swings To Deficit In April

06/09/2022 - 04:29:00 (RTTNews)

(RTTNews) - Slovakia's trade balance turned to a deficit in April, as imports grew much faster than exports, preliminary data from the Statistical Office of the Slovak Republic showed on Thursday.

The trade balance showed a deficit of EUR 503.3 million in April versus a surplus of EUR 132.6 million in the corresponding month last year. In March, the trade deficit was EUR 510.0 million.

The surplus in motor vehicle trade was offset by a deficit in gas, oil, and electricity, the statistical office said.

Exports rose for the sixth straight month in April by 5.5 percent from a year ago, while imports logged a double-digit growth of 14.5 percent.

On a seasonally adjusted basis, both exports and imports climbed by 9.7 percent and 19 percent respectively in May from last year. As a result, the trade deficit stood at EUR 291.3 million.

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