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June's industrial production slows; foreign trade maintains surplus

The growth rate of industrial production in Slovakia decelerated in June, as data from the Statistics Office reported by the SITA newswire noted that industrial production in Slovakia in June increased by 4.9 percent year-on-year compared with 10.7 percent in May.

The growth rate of industrial production in Slovakia decelerated in June, as data from the Statistics Office reported by the SITA newswire noted that industrial production in Slovakia in June increased by 4.9 percent year-on-year compared with 10.7 percent in May.

The growth in Slovakia's industrial output in June was the slowest since November 2009. Industrial production rose by a monthly average of 9.8 percent in the first half of 2011.

Slovakia's foreign trade continued to generate a surplus for the sixth month in the row, with the Statistics Office reporting that exports in June exceeded imports by €207 million, representing the highest monthly surplus this year.

But the June figures showed a slowdown in the growth dynamics of both exports and imports. Exports recorded the slowest y-o-y growth since November 2009, with 11.4 percent y-o-y growth in June to €4.675 billion in comparison to growth in May of over 20 percent. Imports grew at the slowest pace since January 2010. In June they exceeded the level from a year ago by 10.1 percent and reached €4.468 billion. In May imports grew 19.4 percent.

Six-month exports were up by 20 percent y-o-y to €27.328 billion and imports in that period grew 19.9 percent to €26.494 billion.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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