Moderate upturn on the horizon but caution regarding public finances
A1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in July 2024.
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GDP |
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|
Population |
|
|
Form of state | Parliamentary Republic | |
Head of government | Robert FICO (Prime Minister) | |
Next elections |
2027, legislative |
Strengths & Weaknesses
![](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Slovakia/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper/wrapper/image.img.82.3360.png/1716971402377/plus.png)
- Low systemic political risk
- Good regional and international relations; EU membership
- Eurozone membership providing for low transfer and convertibility risk
- Solid banking sector
- Strong business environment overall; very attractive for foreign investors
![](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Slovakia/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1716971631893/minus.png)
- Small domestic market
- High dependence of the economy on the automobile sector and on exports
- Relatively high external debt level
Economic Overview
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Germany
21.0%
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1 |
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Czech Republic
12.0%
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2 |
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Hungary
8.7%
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3 |
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Poland
7.8%
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4 |
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France
5.9%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Road vehicles
30.6%
|
1 |
14.7%
Road vehicles
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Telecommunication and sound recording apparatus
8.5%
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2 |
9.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Electrical machinery, apparatus and appliances, n.e.s.
6.9%
|
3 |
7.5%
Telecommunication and sound recording apparatus
|
Other industrial machinery and parts
6.0%
|
4 |
5.6%
Gas, natural and manufactured
|
Iron and steel
5.4%
|
5 |
4.8%
Other industrial machinery and parts
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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