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BUSINESS DIARY

Sk77 billion trade surplus for VW in 2004

VOLKSWAGEN (VW) Slovakia manufactured cars and car components worth Sk173 billion (€4.53 billion) in 2004. The Bratislava VW plant produced 223,524 cars, 357,683 gearboxes, and 16.4 million gearbox components in 2004.

VW Slovakia reported a trade-balance surplus of more than Sk77 billion (€2.02 billion) last year, which represents year-on-year growth of approximately Sk4 billion.

The firm's 2004 exports exceeded Sk172 billion (€4.51 billion), while imports stood at Sk95 billion (€2.49 billion). VW Slovakia had 8,247 employees on its payroll at the end of December 2004.

The car company is the biggest Slovak exporter, making up 20 percent of the country's total exports. The firm produces the VW Touareg, VW Polo and Seat models. However, Seat Ibiza assembly will be moved back to Spain. VW Slovakia is launching a new project at the turn of 2005: production of Audi Q7 off-road category cars.

Compiled by Spectator staff from SITA reports

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