Trade deficit up to Sk2.1 billion in May

SLOVAKIA's trade balance for May had a deficit of Sk2.1 billion (€52.6 million), Sk4 billion (€100 million) worse compared to the same period last year, the state-run news agency TASR wrote.

Exports reached Sk79.8 billion (€2 billion) and imports were at Sk81.9 billion (€2.1 billion).

ING analyst Ján Tóth expects a moderate worsening of the balance until the end of this year.

"The deficit has been low for too long, given the inflow of technology imports from foreign direct investments," he said to TASR.

From January to May of 2004 the trade deficit stood at Sk4.2 billion (€105 million), an improvement of 61 percent year-on-year. Exports were Sk363.9 billion (€9.1 billion) and imports stood at Sk368.1 billion (€9.2 billion).

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