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NBS: January’s foreign trade balance sees 5.1 percent surplus of GDP

The Slovak foreign trade balance ended in January this year with a surplus of 5.1 percent of GDP. "After the drop seen in December, the development in exports in January rose month-on-month by 2.2 percent, thus reaching its former pre-drop levels," claimed the Slovak central bank (NBS) in its March 2013 monthly bulletin, as quoted by the TASR newswire.

The Slovak foreign trade balance ended in January this year with a surplus of 5.1 percent of GDP. "After the drop seen in December, the development in exports in January rose month-on-month by 2.2 percent, thus reaching its former pre-drop levels," claimed the Slovak central bank (NBS) in its March 2013 monthly bulletin, as quoted by the TASR newswire.

The positive development was mostly the result of the revival in the automobile industry, with exports in other sectors – except for the automotive industry - going up month-on-month by 0.4 percent. "The dynamics stayed at levels seen in previous months," reads the report. According to NBS, the positive development in exports could be linked to temporary improvement in economic sentiment recorded in early 2013. However, due to the estimated slowing down of foreign demand and gradual wearing out of low base effect in the automobile industry, this trend may not last in the future.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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