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Slovakia Trade Balance Swings To Deficit

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Slovakia’s trade balance swung to a deficit in February, as increase in imports were faster than exports, data from the Statistical Office of the Slovak Republic showed on Friday.

The trade balance registered a deficit of EUR 258.7 million in February versus a surplus of EUR 496.4 million in the same month last year. In January, the trade deficit was EUR 335.8 million.

Economists had forecast a deficit of EUR 239.6 million.

Exports growth increased to 11.1 percent annually in February and imports rose for the thirteenth consecutive month by 23.2 percent.

On a seasonally adjusted basis, the trade surplus was EUR 475.1 million in February. Exports and imports rose by 10.0 percent and 22.0 percent, respectively.

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