Slovakia Trade Deficit Widens Sharply

Slovakia's trade deficit narrowed sharply to EUR 33.1 million in January 2026 from EUR 152.5 million in the same month last year, missing market expectations of a EUR 133.7 million surplus, as exports fell at a softer pace than imports. Exports declined by 2.8% year-on-year to EUR 8,355.7 million, marking the first drop in four months, mainly driven by a 2.7% decrease in shipments of machinery and transport equipment, including cars. Sales to the EU rose by 1.4%, while those to non-EU countries tumbled by 18.3%. Meanwhile, imports decreased by 4.1% to EUR 8,388.8 million, the largest fall since June 2024, with nine out of ten product categories recording declines. The drop was largely due to a 4.6% fall in purchases of machinery and transport equipment, including motor vehicle parts. Inbound shipments from the EU increased by 10.7%, while imports from non-EU countries fell by 25.7%.

Slovakia posted a trade deficit of EUR 162.7 million in December 2025, narrowing sharply from a EUR 743.1 million deficit in the same month last year, as exports rose while imports fell. Exports grew by 7% year-on-year to EUR 8,188.0 million, the second-highest growth rate after March, driven mainly by an almost 5% increase in shipments of machinery and transport equipment, including car exports. Meanwhile, imports decreased by 0.5% to EUR 8,350.7 million, with five out of ten product categories recording declines. The slight drop was largely due to a more than 28% decline in imports of mineral fuels, which includes oil, electricity, and natural gas. For 2025 as a whole, Slovakia recorded a trade surplus of EUR 2.73 billion, an increase of EUR 63.7 million from the previous year. Exports to non-EU countries were more than 1% higher in 2025, while those to the EU rose by over 4%. Imports from non-EU countries increased by around 7%, while those from the EU were up by more than 2%.

Slovakia’s trade surplus widened to EUR 504.8 million in November 2025 from EUR 319.5 million in the corresponding month of the previous year, surpassing market expectations of EUR 345 million. This marked the largest surplus since May, as exports fell less than imports. Year-on-year, exports declined by 1.3% to EUR 9,717.6 million, weighed down by significantly lower shipments of miscellaneous manufactured articles, which fell by more than 8%. Exports to the EU decreased by 2.4%, while shipments to non-EU countries rose by 2.5%. Meanwhile, imports dropped by 3.3% to EUR 9,212.8 million, largely due to a more than 22% drop in purchases of mineral fuels, lubricants, and related materials. Inbound shipments from both EU and non-EU countries fell by 3.3%. Over the January-November 2025 period, the country's trade surplus narrowed to EUR 3,081.8 million from EUR 3,408.7 million in the same period a year earlier.