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Overview In 2022, Slovakia was the number 61 economy in the world in terms of GDP (current US$), the number 41 in total exports, the number 40 in total imports, the number 48 economy in terms of GDP per capita (current US$) and the number 15 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Slovakia are Cars ($26.9B), Motor vehicles; parts and accessories (8701 to 8705) ($5.67B), Video Displays ($4.2B), Broadcasting Equipment ($3.05B), and Electricity ($2.91B), exporting mostly to Germany ($22.2B), Czechia ($12.6B), Hungary ($9.79B), Poland ($8.05B), and France ($6.1B).

Imports The top imports of Slovakia are Motor vehicles; parts and accessories (8701 to 8705) ($10B), Broadcasting Equipment ($5.8B), Petroleum Gas ($5.17B), Cars ($3.29B), and Electricity ($3.29B), importing mostly from Czechia ($19.7B), Germany ($17.2B), Poland ($10.1B), Russia ($7.55B), and Austria ($7.4B).

In 2022, Slovakia was the world's biggest importer of Motion-picture film, exposed and developed ($1.16M)

Location Slovakia borders Austria, Czechia, Hungary, Poland, and Ukraine by land.

Latest Trends

Latest Trade

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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Cars$26.9B
Top Destination (2022)Germany$22.2B

In 2022, Slovakia exported a total of $110B, making it the number 41 exporter in the world. During the last five reported years the exports of Slovakia have changed by $25.1B from $85B in 2017 to $110B in 2022.

The most recent exports are led by Cars ($26.9B), Motor vehicles; parts and accessories (8701 to 8705) ($5.67B), Video Displays ($4.2B), Broadcasting Equipment ($3.05B), and Electricity ($2.91B). The most common destination for the exports of Slovakia are Germany ($22.2B), Czechia ($12.6B), Hungary ($9.79B), Poland ($8.05B), and France ($6.1B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Fastest Growing Export Markets (2021 - 2022)
Hungary$2.06B (+ 26.6%)
Czechia$975M (+ 8.41%)
Ukraine$551M (+ 55.3%)
Fastest Growing Import Markets (2021 - 2022)
Austria$3.75B (+ 103%)
Poland$1.94B (+ 23.8%)
Czechia$1.94B (+ 10.9%)

Total Export Growth by Market (2021 - 2022)

Service Trade

Service Trade

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).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.32Rank 15 of 133
Economic Complexity (Technology)0.4Rank 43 of 96
Economic Complexity (Research)-0.58Rank 90 of 135

Most Specialized Products by RCA Index

Slovakia has a high level of specialization in Railway Freight Cars (27.5), Central Heating Boilers (22.7), Other Animal Fats (12.1), Video Displays (10.8), and Military Weapons (10.1). Specialization is measured using RCA, an index that takes the ratio between Slovakia observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Slovakia according to the relatedness index, were Rapeseed Oil (0.31), Other Wood Articles (0.31), Shaped Wood (0.3), Soil Preparation Machinery (0.3), and Large Iron Containers (0.3). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Slovakia is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Slovakia. These are products that tend to be co-exported with the products that Slovakia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Slovakia's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨23rd 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.

Explore Rankings

ECI (Trade) Ranking by Country

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