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ECONOMIC BRIEFS

Trade gap hits 28.9 billion crowns at end of July

Slovakia's trade deficit totaled 28.9 billion Slovak crowns ($688 million) in the first seven months of 1999, a 17.4 billion crown (38%) drop from the same period last year. Slovakia exported goods worth 231.3 billion crowns, up 9.2% from January to July 1998, while its imports increased 0.8% to 260.2 billion crowns during this period.

Slovakia reported the highest trade deficit with the Russian Federation (24.3 billion crowns), followed by the United States (4.4 billion) and Japan (4 billion). Slovakia posted its biggest surpluses in trade with Austria (5.9 billion crowns), Poland (4.3 billion) and Hungary (4 billion).

Slovakia increased its exports to European Union countries by 23.7% over the same period last year, to a figure representing 60.8% of the country's total exports. Exports to CEFTA countries dropped 4.9% to hit 29.1% of total exports.

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