Slovakias foreign trade swings to surplus of EUR 196.4mn in May 2011.

By bne IntelliNews July 11, 2011
Slovakias foreign trade posted a surplus of EUR 196.4mn in May 2011 after a deficit of EUR 32.1mn in the previous month, according to preliminary data from the statistics office. Compared to a year earlier, the trade surplus almost tripled. Exports rose by 20.7% y/y to EUR 4.85bn, while imports continued to slow down by 17.8% y/y to EUR 4.65bn. For the first five months of 2011, the trade surplus widened by 17.9% y/y to EUR 619.1mn. IntelliNews comment : Slovakia started to accumulate trade surpluses in 2009 when the economy contracted and the need for imports declined. The surpluses started to decrease in 2010 with the revival of the economic activity. It could be expected that the foreign trade will return to a deficit by the end of the year, supported by investment plans of domestic companies and a possible revival of household consumption.

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