Slovakia2020 Economic Complexity : 1.31, Rank 18 of 127
2020 Product Exports | Imports: $86.4B | $77.8B, 37 of 226 | 39 of 226
2020 Per Capita Product Exports | Imports: $15.8k | $14.3k, 13 of 219 | 18 of 219
2020 Service Exports | Imports : $8.35B | $8.57B, 29 of 65 | 29 of 65
Overview In 2020, Slovakia was the number 62 economy in the world in terms of GDP (current US$), the number 37 in total exports, the number 39 in total imports, the number 55 economy in terms of GDP per capita (current US$) and the number 18 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Slovakia are Cars ($24.8B), Motor vehicles; parts and accessories (8701 to 8705) ($4.98B), Video Displays ($4B), Broadcasting Equipment ($2.72B), and Rubber Tires ($1.55B), exporting mostly to Germany ($19.2B), Czechia ($8.74B), France ($6.18B), Poland ($5.85B), and Hungary ($5.37B).
Imports The top imports of Slovakia are Motor vehicles; parts and accessories (8701 to 8705) ($8.58B), Cars ($2.73B), Broadcasting Equipment ($2.12B), Crude Petroleum ($1.64B), and Insulated Wire ($1.53B), importing mostly from Germany ($14.7B), Czechia ($14.2B), Poland ($6.39B), Hungary ($5.42B), and China ($4.32B).
Location Slovakia borders Austria, Czechia, Hungary, Poland, and Ukraine by land.
The following section uses the most recent trade data from partners of Slovakia.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
In 2020, Slovakia exported a total of $86.4B, making it the number 37 exporter in the world. During the last five reported years the exports of Slovakia have changed by $11B from $75.4B in 2015 to $86.4B in 2020.
The most recent exports are led by Cars ($24.8B), Motor vehicles; parts and accessories (8701 to 8705) ($4.98B), Video Displays ($4B), Broadcasting Equipment ($2.72B), and Rubber Tires ($1.55B). The most common destination for the exports of Slovakia are Germany ($19.2B), Czechia ($8.74B), France ($6.18B), Poland ($5.85B), and Hungary ($5.37B).
Slovakia Exports Services (2020): $8.35B
Slovakia Imports Services (2020): $8.57B
In 2020, Slovakia exported $8.35B worth of services. The top services exported by Slovakia in 2020 were Other transport ($3.15B), Miscellaneous business, professional, and technical services ($2.43B), Personal travel ($1.12B), Telecommunications services ($380M), and Construction abroad ($202M).
The top services imported by Slovakia in 2020 were Other transport ($2.22B), Miscellaneous business, professional, and technical services ($2.21B), Personal travel ($968M), Royalties and license fees ($644M), and Merchanting and other trade-related services ($576M).
Slovakia has a high level of specialization in Railway Freight Cars (29.9), Central Heating Boilers (23.4), Video Displays (10.5), Dental Products (9.94), and Vehicle Bodies (including cabs) for the motor vehicles (8701 to 8705) (8.63). Specialization is measured using RCA, an index that takes the ratio between Slovakia observed and expected exports in each product.
The highest complexity exports of Slovakia according to the product complexity index (PCI) are Electric Soldering Equipment (1.78), Non-Mechanical Removal Machinery (1.73), Iron Fasteners (1.67), Rubberworking Machinery (1.53), and Air Pumps (1.5). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Slovakia according to the relatedness index, are Soil Preparation Machinery (0.27), Other Wood Articles (0.27), Large Iron Containers (0.27), Rapeseed Oil (0.27), and Iron Radiators (0.27). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Slovakia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Slovakia's economy has become relatively more complex, moving from the 22nd to the 18th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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