Stats Office: Trade Balance Saw Surplus of €199.6 mn in May

Bratislava, July 9 (TASR) - The volume of Slovakia's foreign trade continued to record negative developments in May as a result of measures taken in connection with the global coronavirus pandemic, although the trade balance actually improved year-on-year, the Statistics Office reported on Thursday. Total exports fell by 33.9 percent y-o-y to €4.596 billion in May, while total imports dropped by 35.8 percent to €4.396 billion. Slovakia's trade balance thus posted a surplus of €199.6 million in May, up by €94.3 million y-o-y. In the first five months of this year, meanwhile, Slovakia reported a trade deficit of €565.4 million. Exports declined by 20.1 percent y-o-y to €27.363 billion, while imports went down by 16.7 percent y-o-y to €27.929 billion. Exports to other EU-member countries were down by 19.4 percent y-o-y in the first five months of this year to represent 79.9 percent of Slovakia's overall exports. Imports from EU countries made up 65.4 percent of imports, down by 17 percent y-o-y. Exports to non-EU countries decreased by 22.8 percent y-o-y in January-May to account for 20.1 percent of the country's overall exports. Imports from non-EU countries went down by 16.3 percent in the same period to make up 34.6 percent of imports. Machinery and transport devices - the most frequently traded items - made up 59.8 percent of all exports and 47.8 percent of total imports. After seasonal adjustments, the trade balance posted a surplus of €122.9 million in May 2020, up €98.7 million y-o-y. Overall exports reached €4.613 billion (down 30.7 percent y-o-y), with total imports standing at €4.490 billion (down 32.3 percent y-o-y). ko/df