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ECONOMIC BRIEFS

Jan. to Sept. trade gap at improved 32.9 billion Sk

Slovakia's trade deficit totaled 32.9 billion Slovak crowns nine months into 1999, 23.9 billion crowns (42%) less than the same period last year. Exports were up 9.7% year-on-year to 303.3 billion crowns, while imports increased only 0.9% annualised 336.2 billion crowns.

Slovakia posted its highest trade deficit with the Russian Federation (33.9 billion crowns), followed by the United States (5.08 billion) and Japan (5.01 billion). The biggest trade surplus was with Austria (8.15 billion), Poland (6.2 billion) and Hungary (5.56 billion).

The trade deficit turnaround is largely due to a 7% import surcharge that the cabinet imposed as of June 1, 1999.

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