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Slovakia

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Slovakia is not a huge market but offers very good opportunities, mainly as a springboard to either the west or the east. Its capital, Bratislava, is less than an hour’s drive from Vienna and two hours from Budapest.

 

What are the opportunities?
The Slovak government has made considerable progress in macroeconomic stabilisation and structural reform and the economy continues to grow. Heavy industry and agriculture have declined in importance since the end of communism but the services sector has increased significantly. A rise in real wages has contributed to a revival of domestic demand and consumption is increasing.

Slovakia is the 36th economy in the world for ease of doing business and the Government is continuing to implement a pro-business agenda.

There are particular opportunities in the following sectors:

•Automotive Industry - Stampings and Pressings, Fasteners/Fixings, Plastic Mouldings, Design Engineering Services, Testing Services
•Education & Skills – vocational education, rural development training, lifelong learning, ICT in Education, English language
•Clothing and fashion - British fashion is generally well regarded and opportunities exist for well-known fashion brands that offer good quality clothes at reasonable prices
•Water – key projects planned in drinking water supply, sewerage and wastewaster treatment
•Environment - waste management, air pollution, soil decontamination projects and there is also demand for environmental services (audits, etc.).
•Food and drink - confectionery, sauces, cereals, spirits, tea and ethnic foods.

Slovakia is the UK's 56th largest export market, with exports worth £223m. The UK is now the fifth largest investor in the country.

Population: 5,431,363 (2005 est.)
Capital: Bratislava
Local Time: GMT + 1
Language: Slovak
Currency: Koruna (SKK)
Dialling code from UK: 00 421
GDP (2005 estimate): US $46.2; US $8,549 per capita
GDP - real growth rate (2005 estimate): 5.1%

emita has CD-ROM Trade Guides on trading with Slovakia. The Slovakia Trade Guide is a comprehensive guide to trading with and investing in Slovakia. It is aimed at British business leaders who want to expand into the Slovakian market, and contains a large amount of useful and interesting information and contacts.
Please email emita stating your name, company, address, telephone and email address and we will send it in the post to you free of charge.

 

The information provided above is merely an overview; should you require further details you can obtain comprehensive international trade assistance from UK Trade and Investment (UKTI).   To find out more information about this country, visit the UKTI Slovakia web page.

If you're interested in attending an event relating to this country or the possibility of joining a trade mission, please visit the UKTI East Midlands website. If you would like to speak to a UKTI International Trade expert about doing business with this country, please call the UKTI East Midlands office on 01332 826394.

 

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