Data Insights

Overall, Slovakia's trade values indicate a mixed performance in the recent period. Month-on-month, both imports and exports showed positive growth, with imports increasing by 181.05 million EUR and exports by 149.58 million EUR. However, year-on-year comparisons reveal a decline in both imports and exports, with imports down by 343.27 million EUR and exports by 184.5 million EUR. This trend highlights the challenges faced by Slovakia's export-reliant economy, particularly in light of the recent credit downgrade by S&P Global Ratings.

In the month-on-month analysis, Slovakia's imports totaled 8.44 billion EUR, reflecting an increase of 181.05 million EUR (approximately 2.19%). The top three countries contributing to this increase were Austria (134.79 million EUR), Slovenia (132.92 million EUR), and China (109.17 million EUR). Conversely, the bottom three were Czechia (-164.04 million EUR), the United States (-143.35 million EUR), and Hungary (-56.71 million EUR). For exports, the total was 8.46 billion EUR, with a rise of 149.58 million EUR (about 1.80%). The leading contributors were Germany (157.18 million EUR), the United Kingdom (132.15 million EUR), and Italy (72.14 million EUR), while the declines were seen in Austria (-79.94 million EUR), Ukraine (-72.15 million EUR), and the United States (-69.29 million EUR).

In the year-on-year analysis, imports reached 8.44 billion EUR, showing a decrease of 343.27 million EUR (approximately -3.91%). The top three countries with significant increases were Slovenia (156.99 million EUR), Vietnam (99.23 million EUR), and Czechia (76.49 million EUR). The largest declines were from Russia (-258.09 million EUR), Austria (-244.68 million EUR), and South Korea (-195.23 million EUR). Exports totaled 8.46 billion EUR, down by 184.5 million EUR (-2.14%). The top increases came from the United Kingdom (95.12 million EUR), France (50.4 million EUR), and Canada (29.6 million EUR), while the largest decreases were from Poland (-135.96 million EUR), China (-113.14 million EUR), and Switzerland (-51.41 million EUR).

The analysis of Slovakia's international trade for 202512 reveals significant fluctuations in trade values. Month-on-month, total imports decreased by 1.45B EUR (-14.91%) and total exports fell by 1.8B EUR (-17.78%). Year-on-year, total imports saw a slight increase of 20.19M EUR (0.0024%), while total exports rose by 620.03M EUR (8.07%). The trade flow dynamics indicate a challenging month for imports, particularly from major partners like Germany and Austria, while exports faced substantial declines from key markets such as Germany and the UK.

In the month-on-month analysis, imports from the United States saw a significant increase of 202.37M EUR, representing a 5.38% rise. Other notable increases included imports from Russia (65.82M EUR, 0.54%) and Croatia (21.28M EUR, 0.65%). Conversely, the largest declines were observed in imports from Germany (-348.08M EUR, -18.83%), Austria (-279.32M EUR, -36.43%), and Czechia (-188.03M EUR, -9.84%). For exports, Ukraine led with an increase of 14.51M EUR (7.19%), followed by Czechia (11.27M EUR, 1.01%) and Denmark (11.09M EUR, 21.18%). The largest decreases in exports were from Germany (-457.28M EUR, -21.53%), the United Kingdom (-166.46M EUR, -32.87%), and Poland (-154.55M EUR, -21.77%). Overall, total imports decreased by 1.45B EUR (-14.91%) while total exports fell by 1.8B EUR (-17.78%).

In the year-on-year analysis, imports from Czechia increased by 175.39M EUR (11.34%), while imports from the United States rose by 144.21M EUR (150.59%). Germany also saw an increase of 88.11M EUR (6.24%). On the downside, imports from Russia decreased by 210.21M EUR (-52.73%), South Korea by 124.07M EUR (-52.31%), and Slovenia by 117M EUR (-44.12%). For exports, Germany experienced the highest increase of 253.56M EUR (17.95%), followed by France (119.63M EUR, 34.99%) and Czechia (85.98M EUR, 8.21%). The largest declines in exports were from China (-115.74M EUR, -54.88%), the United States (-30.64M EUR, -8.77%), and the Netherlands (-23.74M EUR, -14.00%). Overall, total imports increased by 20.19M EUR (0.0024%) while total exports rose by 620.03M EUR (8.07%).

Overall, Slovakia's total trade value for the month increased significantly, with exports totaling 9.61B EUR (up 1.7B EUR, 21.44%) and imports at 9.31B EUR (up 1.34B EUR, 16.77%). Year-on-year, total exports reached 9.61B EUR (up 416.15M EUR, 4.53%) while imports were at 9.31B EUR (up 210.25M EUR, 2.31%). The trade balance remains positive, indicating a robust trade performance despite some declines in specific sectors and countries.

In the month-on-month analysis, Slovakia's imports from Czechia saw the highest increase with a trade value of 1.77B EUR, reflecting a significant rise of 289.73M EUR (19.58%). Germany followed closely with an increase of 218.28M EUR (14.08%), while Hungary's imports rose by 145.69M EUR (29.70%). On the lower end, imports from Russia decreased by 99.33M EUR (-38.42%), with Thailand and South Korea also experiencing declines of 31.97M EUR (-54.98%) and 20.03M EUR (-9.09%) respectively. In exports, Germany led with a trade value of 2.15B EUR, increasing by 429.68M EUR (24.95%). Hungary's exports rose by 198.93M EUR (33.93%), and France's exports increased by 196.05M EUR (63.27%). Conversely, exports to the United States fell by 37.2M EUR (-15.23%), while Saudi Arabia and Ukraine saw declines of 32.6M EUR (-77.44%) and 23.75M EUR (-16.03%).

Year-on-year, imports from Czechia increased by 183.26M EUR (11.55%), while Slovenia's imports surged by 135.94M EUR (131.21%). France's imports also rose by 79.1M EUR (35.63%). On the downside, imports from Russia dropped significantly by 194.03M EUR (-54.93%), with South Korea and Vietnam also experiencing declines of 99.11M EUR (-33.38%) and 54.53M EUR (-29.2%) respectively. In exports, Germany's exports increased by 230.27M EUR (11.98%), with Czechia and France following with increases of 190.74M EUR (17.26%) and 97.94M EUR (24.92%). However, exports to the United States fell by 142M EUR (-40.73%), with China and the United Arab Emirates also seeing declines of 80.65M EUR (-57.77%) and 72.44M EUR (-66.24%).

In summary, Slovakia's trade dynamics show a robust month-on-month increase in both imports and exports, with total exports rising by 1.07B EUR (11.08%) and imports increasing by 910.07M EUR (9.78%). Year-on-year, exports have shown a slight increase of 135.01M EUR (1.28%), while imports have decreased by 86.61M EUR (-0.84%). The trade flow indicates a healthy export performance, particularly with key partners like Germany and Hungary, despite some declines in specific areas.

In the month-on-month analysis, Slovakia's imports from Russia saw a significant increase of 133.8M EUR, representing a growth of 84.04%. Imports from Czechia and Austria also rose, with increases of 117.28M EUR (6.63%) and 94.35M EUR (13.31%) respectively. On the other hand, imports from the Netherlands, Spain, and Denmark experienced declines, with the Netherlands seeing a drop of 43.2M EUR (-12.96%). In exports, Germany led with an increase of 215.04M EUR (9.99%), followed by Hungary with 106.51M EUR (13.57%) and the United Kingdom with 105.91M EUR (24.23%). Conversely, exports to France, Sweden, and Egypt decreased, with France experiencing a decline of 33.27M EUR (-6.58%). Overall, total exports increased by 1.07B EUR (11.08%) while imports rose by 910.07M EUR (9.78%).

In the year-on-year analysis, imports from Czechia increased by 141.3M EUR (8.10%), while imports from the United States rose significantly by 104.74M EUR (220.63%). Slovenia also saw an increase of 87.46M EUR (59.48%). However, imports from South Korea, Germany, and Vietnam decreased, with South Korea experiencing the largest drop of 116.33M EUR (-35.24%). In exports, Hungary's exports increased by 147.44M EUR (19.81%), while Germany's exports rose by 136.84M EUR (6.14%). The United Kingdom also saw an increase of 58.35M EUR (12.04%). On the downside, exports to the United States, China, and Japan decreased, with the United States seeing a significant drop of 214.71M EUR (-42.71%). Overall, total exports increased by 135.01M EUR (1.28%) while imports decreased by 86.61M EUR (-0.84%).

Overall, Slovakia's trade values have shown significant fluctuations in both month-on-month and year-on-year analyses. The total trade for exports decreased by 8.34B EUR (approximately -78.13%) to 2.33B EUR, while imports decreased by 8.56B EUR (approximately -83.73%) to 1.66B EUR. This indicates a substantial contraction in trade activity, likely influenced by geopolitical factors and economic conditions in the region.

In the month-on-month analysis, imports from the United Kingdom saw the highest increase with a trade value of 113.02M EUR, reflecting a significant growth of 51.62M EUR (approximately 84.08%). Vietnam followed with a trade value of 244.29M EUR, increasing by 46.78M EUR (23.68%). Thailand also showed a positive trend with a trade value of 42.45M EUR, up by 9.93M EUR (30.53%). On the other hand, the lowest values were recorded for imports from Czechia, Germany, and Poland, all showing a drastic decline with values of 0 EUR and decreases of -1.89B EUR, -1.84B EUR, and -865.71M EUR respectively, indicating a complete halt in trade with these countries. For exports, the United States led with a trade value of 401.56M EUR, increasing by 113.52M EUR (39.41%). Ukraine followed with 200.38M EUR, up by 30.88M EUR (18.21%). Canada also showed a strong performance with a trade value of 58.86M EUR, increasing by 29.7M EUR (51.83%). Conversely, the lowest exports were to Germany, Czechia, and Hungary, all with 0 EUR and declines of -2.37B EUR, -1.35B EUR, and -891.71M EUR respectively.

In the year-on-year analysis, imports from Vietnam showed the most significant growth with a trade value of 244.29M EUR, increasing by 113.82M EUR (87.23%). China followed with a trade value of 394.37M EUR, up by 41.55M EUR (11.75%). Ukraine also saw a positive change with a trade value of 80.27M EUR, increasing by 26.97M EUR (50.57%). On the downside, the lowest values were for imports from Germany, Czechia, and Poland, all at 0 EUR with declines of -1.82B EUR, -1.75B EUR, and -873.4M EUR respectively. For exports, the United Kingdom had the highest trade value of 504.93M EUR, increasing by 74.27M EUR (17.25%). Turkey followed with 147.39M EUR, up by 46.11M EUR (45.93%). Morocco also showed a positive trend with a trade value of 57.1M EUR, increasing by 32.64M EUR (132.64%). The lowest exports were to Germany, Czechia, and Hungary, all at 0 EUR with declines of -2B EUR, -1.28B EUR, and -795.16M EUR respectively.