República Eslovaca flag República Eslovaca: Contexto político-econômico

Valores de comércio da República Eslovaca

Foreign Trade in Figures

Slovakia remains strongly dependent on external markets, with foreign trade representing 182% of its GDP (World Bank, latest data available). The country'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 it a preferred base for trade. Slovakia also benefits from an advantageous geographical location at the crossroads of Central Europe, representing a platform for re-exportation for the European automotive industry. In terms of product categories, in 2023, the country mainly exported machinery and transport equipment (63.1%), manufactured goods (14.7%), and chemical products (4%); while imports were led by machinery and transport equipment (49.2%), manufactured goods (13.6%), mineral fuels (8.7%), and chemical products (8.1% - data Statistics Slovakia). Exports rose mainly due to a 23.6% increase in new passenger car exports, adding EUR 5.8 billion to reach EUR 30.4 billion in 2024. The number of exported vehicles grew by 13.4% (+136.6 thousand units). Petrol cars with engines between 1.5–3 litres saw a 55.2% value increase, while electric and hybrid car exports rose by 20% and 17.3%, respectively. Imports fell primarily due to a 50% drop in natural gas value, which fell to EUR 3.0 billion, despite a smaller volume decline of 18.2%. The sharper value decrease resulted from lower global gas prices.
 
In 2023, Europe accounted for 77.4% of total exports and 64.9% of imports. On a country basis, Germany (21%), the Czech Republic (12.1%), Poland (7.3%), Hungary (7.1%), and France (5.3%) were the main destinations of Slovakia’s exports; whereas the main suppliers were Germany (14.5%), the Czech Republic (10.2%), China (7.4%), Poland (5.9%), South Korea (5.6%), and Hungary (5.2% - data Comtrade).

Historically, Slovakia has an overall positive trade balance, though it has been decreasing over the last few years and was negative in the two years preceding 2023. According to the national statistical office, in 2023, Slovakia exported goods worth EUR 108.4 billion, marking a 5.5% year-on-year increase. Imports decreased by 3.1% to EUR 103.9 billion. As a result, the foreign trade balance recorded a surplus of EUR 4.5 billion, improving by EUR 9 billion compared to the previous year. The overall trade balance was estimated to be positive by 1.6% of GDP. According to preliminary official data, in 2024, Slovakia's goods exports fell by 1.5% to nearly EUR 107 billion, while imports decreased by 0.2% to almost EUR 104 billion. The country's foreign trade ended the year with a surplus of EUR 3.1 billion, down EUR 1.4 billion in 2023. The balance was negatively impacted by a significant drop in the surplus in machinery and transport equipment and a widening deficit in chemicals.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 90,00184,393103,891112,466113,532
Exports of Goods (million USD) 89,50986,640103,891108,386117,316
Imports of Services (million USD) 10,9299,24710,66512,18211,652
Exports of Services (million USD) 12,29410,33811,31112,60112,476

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20192020202120222023
Foreign Trade (in % of GDP) 183.7167.5181.9203.9182.3
Trade Balance (million USD) -1,677-244-1,688-7,596323
Trade Balance (Including Service) (million USD) -1281,106-653-6,9531,342
Imports of Goods and Services (Annual % Change) 2.4-7.911.74.2-7.7
Exports of Goods and Services (Annual % Change) 1.4-6.410.72.8-0.7
Imports of Goods and Services (in % of GDP) 91.983.291.2104.990.4
Exports of Goods and Services (in % of GDP) 91.884.390.799.091.9

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20242025 (e)2026 (e)2027 (e)2028 (e)
Volume of exports of goods and services (Annual % change) 3.23.53.73.53.4
Volume of imports of goods and services (Annual % change) 5.63.33.13.13.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Slovakia is a member of the European Union. It is also a member of the European Economic Area (EEA) which has guaranteed, since 1 January 1993, the free movement of most goods between the European countries.
Multilateral and bilateral agreements with many countries.
 

Main Partner Countries

Main Customers
(% of Exports)
2023
Germany 21.0%
Czech Republic 12.1%
Poland 7.3%
Hungary 7.1%
France 5.3%
See More Countries 47.2%
Main Suppliers
(% of Imports)
2023
Germany 14.5%
Czech Republic 10.2%
China 7.4%
Poland 5.9%
South Korea 5.6%
See More Countries 56.4%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

117.1 bn USD of products exported in 2023
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 28.3%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 6.0%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 4.3%
Monitors and projectors, not incorporating...Monitors and projectors, not incorporating television reception apparatus; reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus 3.2%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber 2.0%
See More Products 56.2%
115.4 bn USD of products imported in 2023
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 13.5%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 5.9%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.3%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 2.9%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 2.3%
See More Products 72.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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