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Do a mysql dump and compress directly with gzip
mysqldump < mysqldump options> | gzip > outputfile.sql.gz

Gunzip and import using gzip
gunzip < outputfile.sql.gz | mysql < mysql options>

Do a mysql dump and compress directly with bzip2
mysqldump < mysqldump options> | bzip2 > outputfile.sql.bz2

Bunzip2 and import using bzip2
bunzip2 < outputfile.sql.bz2 | mysql < mysql options>

Do a mysql dump and compress directly with lzma
mysqldump < mysqldump options> | lzma > outputfile.sql.lzma

Unlzma and import using unlzma
unlzma < outputfile.sql.lzma | mysql < mysql options>

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