Slovakia Trade Gap Narrows In January

(RTTNews) - Slovakia's foreign trade deficit decreased in January from a year ago as imports fell faster than exports, preliminary data from the Statistical Office of the Slovak Republic showed on Wednesday.

The trade balance showed a shortfall of EUR 33.1 million in January, down from EUR 152.5 million in the corresponding month last year. In December, it was a shortfall of EUR 50.8 million.

Exports dropped 2.4 percent annually in January, and imports declined 4.1 percent. Outflows to the non-EU countries decreased by more than 18 percent, and imports from these countries were lower by almost 26 percent.

Inflows of machinery and transport equipment, which also includes motor vehicle parts, declined 4.6 percent, which mostly contributed to the overall drop in imports.