International Merchandise Trade Statistics: Trade Balance: Commodities for Slovak Republic
XTNTVA01SKA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,165,100,000.00
Year-over-Year Change
-14.78%
Date Range
1/1/1991 - 1/1/2024
Summary
The International Merchandise Trade Statistics: Trade Balance: Commodities for Slovak Republic measures the difference between the value of goods exported from and imported into Slovakia. This metric is a key indicator of the country's trade performance and economic competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The trade balance is the difference between a country's exports and imports of goods. It provides insight into a nation's participation in global trade and its ability to sell products abroad while meeting domestic demand. Economists and policymakers closely monitor trade balances to assess economic health and guide trade policies.
Methodology
The data is collected through official customs records and compiled by national statistical agencies.
Historical Context
Trade balance figures are influential in macroeconomic analysis and trade policy discussions.
Key Facts
- Slovakia's trade balance has shown a surplus since 2014.
- The automotive industry is a major contributor to Slovakia's trade surplus.
- The European Union is Slovakia's largest trading partner.
FAQs
Q: What does this economic trend measure?
A: The International Merchandise Trade Statistics: Trade Balance: Commodities for Slovak Republic measures the difference between the value of goods exported from and imported into Slovakia.
Q: Why is this trend relevant for users or analysts?
A: The trade balance is a key indicator of a country's economic competitiveness and participation in global trade, making it relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through official customs records and compiled by national statistical agencies.
Q: How is this trend used in economic policy?
A: Trade balance figures are influential in macroeconomic analysis and trade policy discussions, as they provide insights into a country's trade performance and competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to the reporting timelines and methodologies of national statistical agencies.
Related Trends
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LFUN24FESKA647S
Bank's Non-Interest Income to Total Income for Slovakia
DDEI03SKA156NWDB
Stock Market Total Value Traded to GDP for Slovakia
DDDM02SKA156NWDB
Geographical Outreach, Liabilities: Households' Outstanding Deposits at Other Financial Corporations, Other Financial Intermediaries for Slovak Republic
SVKFCLOFMHXDC
Volatility of Stock Price Index for Slovakia
DDSM01SKA066NWDB
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Recreation and Culture for Slovak Republic
SVKCP090000IXOBM
Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Trade Balance: Commodities for Slovak Republic (XTNTVA01SKA664N), retrieved from FRED.