Eslovàquia: Visió econòmica i política
Slovakia remains strongly dependent on external markets, with foreign trade reaching 170.6% of its GDP in 2020 (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. Since 2009, the economic growth of Slovakia has been driven by its exports. The country represents a platform of re-exportation for the European automotive industry (28% of the country’s total exports in 2020). Other goods exported include motor vehicles parts (5.7%), television receivers (5.0%) and line telephony (4.9%). On the other hand, imports are led by parts and accessories of motor vehicles (13.3%), line telephony (5.7%), motor cars (2.6%) and medicaments (2.2%).
The country's main customers in 2020 were Germany (22.6%), the Czech Republic (10.4%), Poland (7.8%) and France (7.2%). The main suppliers were Germany (18.7%), the Czech Republic (10.1%), China (6.7%), Poland (5.8%) and Vietnam (5.0%).
Slovakia has an overall positive trade balance, though it has been decreasing over the last years and amounted to only 0.9% of GDP in 2020 (World Bank). The total value of merchandise exports - at USD 86.1 billion - decreased by 3.8% year-on-year in 2019, with imports decreasing at a similar pace (-3.9%, at USD 84.4 billion). Concerning commercial services, Slovakia’s exports stood at USD 10 billion, against USD 8.9 billion of imports (-17.9% and -18.6%, respectively - data by WTO). In 2021 Slovakia’s industry-heavy export sector has been hit by severe supply-chain disruptions. As global semiconductor shortages are assumed to persist throughout 2022 the automotive industry production will be affected, resulting in markedly lower export levels. Due to a large share of imported intermediate inputs, weaker exports should also go along with lower import growth, before trade volumes catch up to their previously predicted paths from 2023 onwards.
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) | 0.4 | 1.4 | 4.6 | 3.9 | 3.8 |
Volume of imports of goods and services (Annual % change) | 1.0 | 1.6 | 3.3 | 3.1 | 3.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Germany | 21.9% |
Czech Republic | 11.7% |
Poland | 8.3% |
Hungary | 6.9% |
France | 6.5% |
See More Countries | 44.8% |
Main Suppliers (% of Imports) |
2021 |
Germany | 19.0% |
Czech Republic | 9.6% |
China | 7.1% |
Russia | 6.3% |
Poland | 5.5% |
See More Countries | 52.4% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. 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: January 2023