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Slovakia has first trade surplus in 3 years on export growth

Slovakia had an unexpected 3.98 billion koruna ($470 million) trade surplus in January as export growth jumped.

December deficit of 12.3 billion koruna, the Slovak Statistical Office said in an e-mailed statement in Bratislava today. The median estimate of nine economists in a Bloomberg survey was for a 2.7 billion koruna deficit. Export growth accelerated to an annual 36.5% in January from 19.3% the previous month. Imports rose 19.6%, compared with 1.9% in December. The office didn't release additional details. Economists have said the trade deficit may shrink this year as newly built factories by carmakers PSA Peugeot Citroen and Kia Motors Corp. boost production. (Bloomberg)