Slovakia2019 Economic Complexity : 1.4, Rank 15 of 146
2019 Product Exports | Imports: $90.3B | $83.8B, 38 of 225 | 41 of 225
2019 Per Capita Product Exports | Imports: $16.5k | $15.4k, 19 of 219 | 18 of 219
2019 Service Exports | Imports : $10.2B | $10.4B, 16 of 69 | 19 of 69
Overview In 2019 Slovakia was the number 60 economy in the world in terms of GDP (current US$), the number 38 in total exports, the number 41 in total imports, the number 48 economy in terms of GDP per capita (current US$) and the number 15 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Slovakia are Cars ($23.8B), Vehicle Parts ($5.22B), Video Displays ($4.56B), Broadcasting Equipment ($3.5B), and Rubber Tires ($1.73B), exporting mostly to Germany ($19.7B), Czechia ($9.47B), Poland ($6.41B), France ($6.23B), and Hungary ($5.6B).
In 2019, Slovakia was the world's biggest exporter of Coin ($65.6M)
Imports The top imports of Slovakia are Vehicle Parts ($9.02B), Cars ($3.31B), Broadcasting Equipment ($2.32B), Crude Petroleum ($2.24B), and Petroleum Gas ($1.82B), importing mostly from Germany ($15.2B), Czechia ($14.7B), Poland ($6.61B), Hungary ($5.88B), and Russia ($4.53B).
In 2019, Slovakia was the world's biggest importer of Motion-picture film, exposed and developed ($1.81M)
Location Slovakia borders Austria, Czechia, Hungary, Poland, and Ukraine by land.
In 2019, Slovakia exported a total of $90.3B, making it the number 38 exporter in the world. During the last five reported years the exports of Slovakia have changed by $5.26B from $85B in 2014 to $90.3B in 2019.
The most recent exports are led by Cars ($23.8B), Vehicle Parts ($5.22B), Video Displays ($4.56B), Broadcasting Equipment ($3.5B), and Rubber Tires ($1.73B). The most common destination for the exports of Slovakia are Germany ($19.7B), Czechia ($9.47B), Poland ($6.41B), France ($6.23B), and Hungary ($5.6B).
Top Import (2019): Vehicle Parts, $9.02B
Top Origin (2019): Germany, $15.2B
In 2019 Slovakia imported $83.8B, making it the number 41 trade destination in the world. During the last five reported years the imports of Slovakia changed by $4.23B from $79.5B in 2014 to $83.8B in 2019.
The most recent imports of Slovakia are led by Vehicle Parts ($9.02B), Cars ($3.31B), Broadcasting Equipment ($2.32B), Crude Petroleum ($2.24B), and Petroleum Gas ($1.82B). The most common import partners for Slovakia are Germany ($15.2B), Czechia ($14.7B), Poland ($6.61B), Hungary ($5.88B), and Russia ($4.53B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Slovakia Exports Services (2019): $10.2B
Slovakia Imports Services (2019): $10.4B
In 2019, Slovakia exported $10.2B worth of services. The top services exported by Slovakia in 2019 were Other transport ($3.09B), Personal travel ($2.79B), Miscellaneous business, professional, and technical services ($2.36B), Business travel ($412M), and Telecommunications services ($370M).
The top services imported by Slovakia in 2019 were Other transport ($2.36B), Miscellaneous business, professional, and technical services ($2.22B), Personal travel ($2.14B), Royalties and license fees ($748M), and Merchanting and other trade-related services ($538M).
The top product import tariffs by their MFN Ad Valorem value for Slovakia are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Slovakia are:
Slovakia has a high level of specialization in Coin (25.9), Central Heating Boilers (21.8), Railway Freight Cars (12), Video Displays (11.4), and Vehicle Bodies (9.88). 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 Machine-tools for non-mechanical removal of material (1.81), Electric solder, weld, braze,hot metal spray equipment (1.75), Machine-tools for forging, die-stamping, bending metal (1.65), Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.6), and Machinery for rubber, plastics industry (1.57). 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 (0.28), Large Iron Containers (0.27), Other Wood Articles (0.27), Refrigerators (0.27), and Densified Wood (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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.
During the last 20 years Slovakia's economy has become relatively más complex, moving from the 20th to the 15th 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.