By: The Quinnipiac University Economics Research Team, Nicholas Ciampanelli
In November, Slovakian exports increased by 0.6% year-over-year (YOY) to a net value of €7.9 billion, the highest within the past decade. This increase is principally attributed to a 7.4% YOY increase in exports for machinery and transport equipment (particularly within the automotive industry). That category composed approximately two-thirds of the country’s exports, totaling a net sales value of €5.39 billion.
Additionally, Slovakia’s foreign trade balance peaked at a surplus of €807.5 million, €475.8 million above the prior year. In conjunction with the 0.6% YOY increase in exports, this surplus derives from a 5.7% YOY decline in net imports; this causes imports to total a net value of €7.1 billion.
This article is based on: https://spectator.sme.sk/c/22552307/foreign-trade-breaks-10-year-record.html