Slovakia reports SKK 1.7 billion trade deficit

Slovakia reports SKK 1.7 billion trade deficit

Slovak Statistical Office (SUSR) announced that Slovakia's foreign trade deficit declined to SKK 1.7 billion ($50 million) in March from SKK 2.8 billion ($83 million) recorded in the same period of last year. The continuing high rate of growth in exports was the main factor in the improved figures, according to officials. Exports rose by 16.8% to SKK 74.6 billion in March while imports were up by 14.4% to SKK 76.3 billion. In the first quarter of 2004, foreign trade deficit amounted to SKK 324 million. Exports reached SKK 202.2 billion and imports were recorded as SKK 202.6 billion in the mentioned period. Slovakia reported its highest trade surplus with Germany, US and Austria at the end of March and also registered its highest deficits with Russia and Czech Republic.