Slovakia's foreign trade turns to deficit in July.

By bne IntelliNews September 13, 2010
Slovakia's foreign trade turned to deficit of EUR 93.8mn in July, compared to a positive balance since the beginning of the year and a surplus of EUR 29mn a year ago, the statistics office (SUSR) reported. Imports sped up their annual growth to 27.1% to EUR EUR 3.85bn compared to a revised 24.8% y/y in June. Exports also picked up, but by 22.8% y/y to EUR EUR 3.76bn in July, determining the trade deficit. On a cumulative basis, the trade surplus for the Jan-Jul period deteriorated to EUR 575.3mn. Intellinews comment: Since the beginning of the year there are clear upward trends in both import and export growth. While exports growth could be largely related to a general trend of picking up of world trade flows, ascribed to replenishment of inventories on a global basis, the imports dynamics could reflect the revival of the economy.

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