Slovakias current account balance swings into EUR 108.5mn deficit in Aug 2012.

By bne IntelliNews November 2, 2012
Slovakias current account balance turned into a preliminary deficit of EUR 108.5mn in August 2012 from a revised surplus of EUR 169.6mn in July, data from the central bank showed. The July figure was revised down from an originally reported surplus of EUR 207mn. Slovakias first monthly current account deficit since December 2011 came as a result of a sharp drop in the trade balance, while there was no significant changes in any of the other component balances. In August 2011, the country recorded a current account deficit of EUR 181.9mn. Slovakias annual export growth decelerated in August to 9.8%, from 16.5% in the previous month. The central bank said that the slowdown may reflect differences between the scheduling of factory holidays this summer and last summer. Augusts annual imports growth slowed down by 5.6pps m/m to 10%.
EUR mn Aug-12 July-12 Aug-11
Trade balance 22.8 375.5 28.9
--exports 4,912.5 4,996.8 4,474.7
--imports 4,889.7 4,621.3 4,445.8
Balance of services 34.0 21.1 -45.3
Income balance -132.2 -129.6 -135.0
Current transfers -33.1 -97.3 -30.5
CURRENT ACCOUNT BALANCE -108.5 169.6 -181.9

Slovakias current account balance swings into EUR 108.5mn deficit in Aug 2012.

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