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Foreign trade boosts Slovak economy

Foreign trade was the basis of Slovakia’s record economic growth, which reached 8.3 percent in real prices last year, the Economy Ministry wrote in a report about the development of foreign trade in 2006.

Last year’s exports grew 23.9 percent year-on-year to Sk1.4 billion. Foreign trade posted a deficit of Sk71.9 billion and a deficit in trade with goods of Sk91.6 billion. The surplus in trade with services was Sk19.7 billion.

The growth in exports was stimulated mainly by launched production in new car assembly plants and the electrotechnical and mechanical engineering industries, as well as the accelerated recovery of Europe's economy.

Compiled by Zuzana Vilikovská from press reports
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