Latest Economic Outlook for Slovakia
Slovakia ranked 46 and thus above its peers in the Doing Business Report 2013 by the World Bank and IFC.
(Source: doingbusiness.org)
93% of the Slovak workforce has secondary or higher education, which is one of the highest of all European countries. The 2.3 million-strong workforce has a strong tradition in engineering and mechanical production.
(Source: SARIO.sk)
Slovakia is an export-oriented economy that can offer workforce with a high degree of language skills. English is the most common foreign language (85.76%), followed by German (60.84%) due to Slovakia’s proximity to Austria and Germany, French (7.93%), Russian (7.56%) and Spanish (2.99%).
(Source: The Institute for Information and Forecasting in Education, uips.sk)
Fitch affirms Slovakia at A+ (22-08-2014)
Fitch Ratings has affirmed Slovakia's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A+'. The issue ratings on Slovakia's senior unsecured foreign and local currency bonds have also been affirmed at 'A+'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling has been affirmed at 'AAA' and the Short-term foreign currency IDR at 'F1'. Their latest forecast sees Slovakia’s GDP growing with 2.3% in 2014, followed by average growth of around 3% p.a. in 2015-2016. A solid banking sector, sound macro-prudential environment and low level of private sector indebtedness also support Slovakia's ratings.
Slovakia's economic sentiment reaches 3-year high (30-06-2014)
Economic sentiment in Slovakia improved for the fourth month in a row to reach its highest peak in three years. The economic sentiment gauge rose to 100.7 in June, compared to 99.0 in May, and marking its highest point since July 2011 when it stood at 102.2. Slovakia’s economy is driven mainly by car manufacturing, with it boasting the top spot as the world’s biggest car manufacturer calculated per capita.
IMF shines positive light on Slovak economy (17-06-2014)
The International Monetary Fund (IMF) has reaffirmed positive economic prospects for Slovakia, in its latest report on the country compiled over two weeks of the IMF analysis in the country. The report concludes that Slovakia’s economic growth is gathering pace and becoming more balanced, with its strong export economy making it “one of the more dynamic” economies in Europe”. Thanks to rising domestic demand and stable trading partners, the IMF predicts growth of nearly 2½ percent in 2014, rising to 3 percent in the medium term.
Trade statistics
Slovakia's Trade Statistics 2012
Slovakia's Import Statistics 2014
ING International Trade Study Slovakia 1995-2017
2014-2015 Calendar of Business Events in Slovakia
November 2014
Export Forum 2014 (organized by SARIO)
On 13 November 2014, the international subcontracting event “Export Forum 2014” organized by the Slovak Investment and Trade Development Agency (SARIO) will take place in Bratislava, Slovakia. It is the biggest international event traditionally organized by SARIO under the auspices of the Ministry of Economy of the Slovak Republic focused on the development of foreign trade, primarily between small and medium sized enterprises. The event will offer a platform for Slovak and foreign business representatives to engage in bilateral talks, present subcontracting partnership offers, tenders, available production capacities and proposals to establish joint ventures with foreign partners, all with a focus on the automotive and engineering sectors, the energy industry and information technology. The event will have an accompanying program and will conclude with a Gala Dinner. Participation of more than 200 Slovak and foreign companies is expected. This year the partners of the event are the Visegrad region (V4) and Austria. The event is part of the official program related to the Presidency of Slovakia of the V4.
To register, click here.
For further information, click here.
December 2014
Vinum Laugaricio 2014
On 4-5 December 2014, the 10th international wine, drinking water and spirits exhibition for professionals trading wine and other beverages both domestically and internationally will take place in Trenčín, Slovakia.
For further information, click here.
January 2015
ITF Slovakiatour
On 29 January – 1 February 2015, the ITF Slovakiatour fair will take place in Bratislava, Slovakia. It is the largest tourism fair in Slovakia and belongs to the most important events in Central Europe. Annually, the fair offers full service to people who want to travel abroad or explore the beauties of Slovakia. Portfolios of travel agencies and tourist information provided by foreign agencies of other countries will be presented at the fair.
For further information, click here.
February 2015
Aqua – Therm Nitra 2015
On 10-13 February 2015, the international expert trade for heating, ventilation, air-conditioning, measurement, regulating, sanitary and ecological technology “Aqua-Therm Nitra 2015” will take place in Nitra, Slovakia.
For further information, click here.
March 2015
Boat Show
On 12-15 March 2015, the 12th annual international exhibition of boats and accessories “Boat Show” will take place in Bratislava, Slovakia. The exhibition will present yachts, boats, water scooters, as well as equipment options and accessories for water sports.
For further information, click here.
Coneco Racioenergy
On 25-28 March 2015, the annual “Coneco Racioenergy” fair will take place in Bratislava, Slovakia. The fair will present new trends in the construction industry and architecture. Everything necessary for (re)construction, such as construction materials, windows, doors, roofs, floors, air conditioning, electrical installations, saunas, whirlpools, garage doors and garden equipment.
For further information, click here.
April 2015
Solaris Nitra 2015
On 16-19 April 2015, the 3rd annual international exhibition of solar technology and photovoltaics will take place in Nitra, Slovakia.
For further information, click here.
May 2015
International Engineering Cooperation Day – Engineering 2015
On 19-23 May 2015, the “International Engineering Cooperation Day – Engineering 2015” organized by SARIO will take place in Nitra, Slovakia. It is an official accompanying event of the 22nd International Engineering Trade Fair. The event is targeted at companies offering or looking for new technologies, innovative tools and modern solutions for their products, services, further development and manufacturing processes, and commercial activities in engineering and related industries. It offers a unique opportunity to establish business contacts with new potential partners from Slovakia and other European countries. More information will be available in the course of the beginning of 2015 on the SARIO website. For further queries contact trade@sario.sk.
For information from last year, click here.