Slovakia - Export Britain

Export Britain


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Largest city

Administrative divisions
8 regions

Euro (€) (EUR)


(2012) 5,410,836  

Calling code

Official language

Latest Business Opportunities

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Ease of trading across borders

Importing a standard container of goods into Slovakia requires:



The Slovak economy is considered an advanced economy, with the country dubbed the "Tatra Tiger". Slovakia transformed from a centrally planned economy to a market-driven economy. Slovakia adopted the Euro currency on 1 January 2009 as the 16th member of the Eurozone. Slovakia is an attractive country for foreign investors mainly because of its low wages, low tax rates and well educated labour force. In recent years, Slovakia has been pursuing a policy of encouraging foreign investment.

Economic snapshot (% annual growth rate)

GDP 1.8 0.8 3.2
Export of goods and services 9.9 3.7 5.3
Import of goods and services 3.3 2.0 5.7
Inflation 3.6 1.4 1.7
Short-Term interest rates (%) 0.6 0.2 0.3
Exchange Rate (per £) 2.08 2.05 1.76
Population 0.2 0.1 0.1
Source: Oxford Economics

Economic outlook

GDP grew by 0.4% in Q4 2013, with growth driven by both net trade and domestic demand as consumer and business confidence improved significantly in Q4. Growth should accelerate further in 2014, helped by the gradual pick-up in foreign demand. However, a weak labour market will remain a drag on growth this year as unemployment is expected to decline only modestly this year. 

Trade outlook

Foreign trade is important to Slovakia’s economy. Crude oil, natural gas, machinery, and transportation equipment are Slovakia’s main imports. Exports include machinery, chemicals, fuels, steel, and weapons. The Czech Republic, Austria, Germany, and Russia are Slovakia’s leading trade partners. The upward trend in import business was stimulated by increased deliveries for the automobile industry as well as the electronic home entertainment sector, along with growing purchases of crude oil. 

SWOT analysis

Political & economic stability. Skilled and inexpensive labour.
External demand largely from the Eurozone.
Slovakia's strategic geographical location - major European transit corridors, connecting the Western and Eastern parts of Europe.
Housing market bubble. Number of foreign owned banks.

Slovakia's trade with the UK

Sector segmentation growth

Sectors to watch:
  • sector
  • sector
  • manufacturing
  • manufacturing

Fastest-growing exporters into Slovakia

1 South Africa
2 Hong Kong
3 Cambodia
4 India
5 Singapore
6 Vietnam
7 Turkey
8 South Korea
9 Hungary
10 Poland

Total merchandise trade - Leading import partners

Total merchandise trade - leading import partners
Opportunities for UK businesses

Slovakia is a country of 5.4 million strategically located at the geographic heart of Europe. Slovakia’s stable macroeconomic policies have made it a good place for UK exporters to do business. Best prospects for UK businesses include: machinery, medical equipment, automotive parts and components, chemical products and plastics.

Find support in this market.

Your local Chamber provides a range of export services and links to overseas markets.
Find your local Chamber here.

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