Eslovàquia: Visió econòmica i política
Slovakia remains strongly dependent on external markets, with foreign trade representing 170.6% of its GDP (World Bank, latest data available). Slovakia's strong industrial tradition, tax incentives, inexpensive and skilled workforce, rapidly developing infrastructure (boosted by an influx of EU funds) and fragile but real growth, make the country a preferred base for trade. The country also benefits from an advantageous geographical location at the crossroads of Central Europe. The country represents a platform of re-exportation for the European automotive industry. In terms of product category, in 2022 the country mainly exported machinery and transport equipment (57.7%), manufactured goods (16.9%), and chemical products (4.9%); while imports were led by machinery and transport equipment (43.8%), manufactured goods (14.2%), mineral fuels (14.1%), and food (5.1% - data Statistics Slovakia).
In 2022, Europe accounted for 88.6% of total exports and 73.9% of imports. On a country basis, Germany (21.7%), the Czech Republic (11.6%), Poland (8.3%), Hungary (7.2%), and France (6.4%) were the main destinations of Slovakia’s exports; whereas the main suppliers were Germany (19.1%), the Czech Republic (9.8%), China (7.3%), Russia (6.3%), and Poland (5.6% - data WTO).
Historically, Slovakia has an overall positive trade balance, though it has been decreasing over the last few years. For the last 14 years, the export of goods exceeded the import, but in 2022 the balance ended with significantly negative values: exports of goods totalled EUR 95.1 billion (+16.1 yeat-on-year) against EUR 98.2 billion in imports, up by 23.6% y-o-y. Higher prices of selected energies and materials had a significant impact on the record-high import.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 83,304 | 92,902 | 90,001 | 84,464 | 103,499 |
Exports of Goods (million USD) | 84,469 | 93,425 | 89,509 | 86,104 | 103,557 |
Imports of Services (million USD) | 9,374 | 10,964 | 10,923 | 8,889 | 10,246 |
Exports of Services (million USD) | 10,344 | 12,031 | 12,282 | 10,083 | 11,187 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 188.1 | 189.8 | 183.5 | 168.5 | 187.8 |
Trade Balance (million USD) | 654 | -252 | -1,261 | 1,241 | -574 |
Trade Balance (Including Service) (million USD) | 1,657 | 847 | 103 | 2,332 | 72 |
Imports of Goods and Services (Annual % Change) | 4.1 | 4.8 | 2.2 | -8.2 | 12.1 |
Exports of Goods and Services (Annual % Change) | 3.7 | 5.1 | 0.8 | -6.4 | 10.6 |
Imports of Goods and Services (in % of GDP) | 93.0 | 94.0 | 91.6 | 83.4 | 94.0 |
Exports of Goods and Services (in % of GDP) | 95.1 | 95.8 | 91.9 | 85.1 | 93.8 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 2.0 | 2.6 | 3.3 | 3.4 | 3.5 |
Volume of imports of goods and services (Annual % change) | 2.9 | 2.9 | 2.3 | 3.0 | 3.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Germany | 21.0% |
Czech Republic | 12.0% |
Hungary | 8.7% |
Poland | 7.8% |
France | 5.9% |
See More Countries | 44.7% |
Main Suppliers (% of Imports) |
2022 |
Germany | 14.0% |
Czech Republic | 9.0% |
China | 7.5% |
Russia | 7.5% |
South Korea | 5.7% |
See More Countries | 56.4% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023