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Slovak exports spur marked foreign trade surplus in Feb

Xinhua, April 9, 2015 Adjust font size:

Slovakia's foreign trade posted a surplus of 529 million euros (575 million U.S. dollars) in February, the Slovak Statistics Office reported Thursday.

Overall exports reached 5.416 billion euros, recording year-on-year growth of 1.7 percent. Overall imports of goods were up 1.6 percent year-on-year to reach 4.887 billion euros.

According to analyst Lubomir Korsnak of UniCredit Bank, Slovakia's foreign trade achieved a marked surplus in February thanks to growing exports.

"More recent developments have been in contrast with the second half of last year, when the country's foreign trade was driven by falling imports," said Korsnak.

With seasonal impacts considered, the turnover in foreign trade in February went up for the fourth time in a row, with both exports and imports posting growth again on annual terms. This was despite persistent annual drops in export prices and energy prices.

"Slovakia's foreign trade should continue to record marked surpluses this year, but when compared to figures recorded last year, the surpluses are expected to fall gradually," Korsnak added. Endit