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January trade deficit twice as high as last year

Soon after its favorable 2004 end-of-year report, the Central Statistics Office (KSH) reported Ft 48.6 billion foreign trade deficit in January, more than twice the Ft 21.7 billion deficit in January 2004. The difference is due to a 7% jump in imports to just above Ft 900 billion, while exports rose only 4% to Ft 852.2 billion. In January, exports to other member states of the European Union accounted for 80% of exports, with 70% of imported goods coming from the EU.