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ECONOMIC BRIEFS

Revised 1997 foreign trade deficit 67.6 billion Sk

Slovakia's foreign trade deficit in 1997 was not 49.5 billion Sk ($1.375 billion) as reported, but 67.572 billion Sk ($1.877 billion) said the Slovak Statistics Bureau on November 20. These figures indicate that the country's 1997 foreign trade turnover was 622.441 billion Sk ($17.29 billion).

The figures also show, when matched against Slovakia's 1997 GDP of 653.9 billion Sk, that the trade deficit was 10.33% of GDP rather than the previously reported 7.56%.

During 1997, Slovakia adjusted its means of calculating trade statistics according to the system used in the European Union. Currently, the Slovak Statistics Bureau is revising the 1997 figures to allow them to be compared with data in 1998 and beyond.

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