Slovakia imports more and more food. The passive balance of agribusiness is growing
The balance of Slovakia’s foreign trade with agricultural and food products was passive in January to August 2022, in the amount of -1,286 billion euros. It increased by eight percent year-on-year. This was stated by Matej Korpáš from the Slovak Chamber of Agriculture and Food Industry.
According to him, the negative balance of exports and imports increased by 57.7 percent of fats and oils by 252.6 percent year-on-year. A year-on-year smaller negative balance was recorded for food, beverages and tobacco by 4.9 percent. For plant products, in 2021 there was a passive balance in the amount of -97.3 million euros, in 2022 the balance in this sector was active in the amount of 49.9 million euros.
The import of agricultural and food products in January to August 2022 was in the amount of 4.36 billion euros. Compared to 2021, the import of agri-food products was 25.7 percent higher. In 2022, there was no decrease in imports in any of the monitored sectors.
Year-on-year imports were higher in animal products by 47.2 percent, in plant products by 20.7 percent, in the fat and oil sectors by 85.6 percent, and in the food, beverage and tobacco sectors, imports were higher by 14.4 percent compared to 2021.
From January to August 2022, agro-food products with a total value of 3,074 billion euros were exported, which represents a year-on-year increase of 35 percent. In a year-on-year comparison, the export of animal products increased by 36.7 percent, vegetable products by 43.1 percent, and fats and oils by 47.9 percent. Exports, beverages and tobacco increased food by 27.2 percent. There was no year-on-year decrease in food industry exports.
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