Slovakia’s Deficit in Foreign Trade with Farming Products Falls in 2017

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(Stock photo by TASR)

Bratislava, August 10 (TASR) – Slovakia’s foreign trade in farming and food products posted a deficit of €490.8 million in January-May 2017, down by 15.8 percent year-on-year, Slovak Agriculture and Food Chamber (SPPK) spokesperson Jana Holeciova told TASR on Thursday.
Deficits were up massively in animal products – 57.4 percent, and in fats and oils – 44.3 percent y-o-y.

Conversely, drops in deficits were seen in food, beverages and tobacco – by 8.4 percent, and in vegetable products – by 109.2 percent y-o-y.

Imports of agricultural and food products in the first five months of 2017 reached €1.702 billion, up by 0.5 percent on the year.

Reductions in the volume of imports were seen in fats and oils – by 15 percent, and in vegetable products by 8.1 percent. Meanwhile, higher imports were recorded in animal products – by 17.7 percent, and in food, beverages and tobacco – by 0.1 percent.

Slovakia exported agricultural products worth €1.211 billion in January-May 2017, which represented an increase of 9.1 percent. Exports of fats and oils decreased by as much as 40.7 percent, while increases were registered in vegetable products – by 26.2 percent, animal products – 0.4 percent, and in food, beverages and tobacco – 6.2 percent.