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Analysts: Slovakia's foreign trade deficit in April was a pleasant surprise

Slovakia's foreign trade balance for April 2007 recorded a deficit of Sk1.2 billion (€34.93 million), the Statistics Office reported on June 11.

This figure is Sk7.8 billion lower than the foreign trade deficit reported in April 2006.

Total exports for the period stood at Sk111.6 billion, up by 25.2 percent year-on-year, while total imports rose by 14.9 percent to Sk112.7 billion.

The deficit of Slovakia's foreign trade in April was a positive surprise for analysts, ČSOB bank analyst Marek Gábriš said on June 11.

Economic analysts' estimates on the deficit were moving within the Sk1.5- to Sk2.2 billion range. It is the second best monthly result this year following January's Sk5 billion surplus, said Gábriš.

The favourable results probably stem from the increase of export efficiency and the simultaneous slowdown of the tempo of imports. The improvement of foreign trade balance was reached mainly thanks to auto production, and the electro-technical and engineering industries.

Tatrabanka analyst Juraj Valachy expects the trade balance in May to move up out of the red, just above zero.

Compiled by Zuzana Vilikovská from press reports
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