Foreign trade deficit shocks again

SLOVAKIA's trade balance results in February continued the disappointing trend of the past few months, hitting Sk12 billion against market forecasts of only Sk4.5 billion.

While Slovakia exported goods and services worth Sk85 billion in February, imports were Sk97 billion, a rise of 30 percent year-on-year, the SME daily wrote.

However, markets are taking the deficit news in stride, as considerable part of the imports consists of technology for the new auto factories of PSA Peugeot Citroen in Trnava and Kia near Žilina.

Analysts expect that the trade deficit will take a sudden turn for the better after the new carmakers start their production.

Compiled by Martina Jurinová from press reports
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