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).
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.
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).
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.
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.
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.