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Analysts: Foreign Trade Figures Indicative of Economic Revival
Friday 09 April 2010 Zoom in | Print page
Bratislava, April 9 (TASR) - The latest figures concerning foreign trade don't come as a surprise and attest to Slovakia's gradual economic revival, analysts concurred on Friday.
It was announced earlier in the day that Slovakia's foreign trade posted a surplus of €67.1 million in February. Total exports from Slovakia rose by 19 percent year-on-year to reach €3.46 billion. Imports, for their part, went up by 17.5 percent to €3.39 billion.
"Dynamics in both exports and imports accelerated substantially, which points to continuing economic revival. Growth in foreign demand translated into higher industrial production as well as into a rise in exports," said Slovenska Sporitelna bank analyst Maria Valachyova.
Lubomir Korsnak, analyst with UniCredit Bank, said that despite the rising surplus in foreign trade he envisages the surplus to reduce significantly by the end of the year. "I assume that an almost equal balance of trade will be recorded," he said. "This is because we expect a drop in foreign demand in the latter half of 2010 again, which will have negative repercussions on the growth in Slovak exports," he added.
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