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Foreign trade swings back into surplus, surprising analysts

Slovakia's foreign trade posted a surplus of €49.4 million in July 2009, the Statistics Office announced on Friday, September 11.

Slovakia's foreign trade posted a surplus of €49.4 million in July 2009, the Statistics Office announced on Friday, September 11.

In June, a deficit of €6.3 million was recorded, following four months of surpluses. At the same time, however, a year-on-year fall in both exports and imports continued in July. The overall imports of goods dropped year-on-year by 26.2 percent to €3.026 billion, while total imports fell even more - by 29.6 percent to €2.976 billion.

Over the first seven months of 2009, as compared to the same period of 2008, overall exports dropped by 28.1 percent to €21.508 billion, with total imports slumping by 29.6 percent to €21.263 billion.

The July surplus in foreign trade came as a surprise to analysts. "The market expected a deficit of €61.8 million," VÚB Banka analyst Martin Lenko told the TASR newswire.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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