According to a recent report from the Intesa Sanpaolo Studies and Research Department, data for 2016 on Slovakia's trade with the rest of the world show an increase in the value of imports (+3,0%) to 75,2 billion dollars and exports (+3,3%) to 77,6 .2017 billion. Furthermore, in the first nine months of 7 there was a further recovery in trade, equal to over 121,1% (61,0 billion), where exports amounted to 6,3 billion (+60,1%) , while incoming flows reached 8,2 billion (+XNUMX%). In this context, we see how trade in Slovakia is centered on machinery and means of transport, given the presence on the territory of numerous foreign companies both in the automotive and consumer electronics sectors, without forgetting metals.
Among imports, minerals and chemical products also stand out, while exports include rubber, plastic and agro-food products. Exchanges are mainly with European markets (83,2%), in particular Germany (19,5%), Czech Republic (11,3%), Poland (6,4%), Hungary (5,1%), France (4,6%), Austria (4,4%) and Italy (4,1%). The stock of direct FDI in Slovakia at the end of 2016 amounted to 41,6 billion, of which the European partners were the major investors, while the main destination sectors were manufacturing and trade.
Slovak industry sees the prevalence of means of transport (about 40% of total production), followed by machinery, metallurgy and chemicals. The industrial production index in 2016 saw a growth of 4,8%, while in the first eleven months of last year the increase was 4,6%: hence the sectors with the most important positive changes are were those of metallurgy (+13,4%), chemical products as a whole (+4,8%), rubber and plastic (+7,3%), agro-food (+8,1%).
Slovakia was ranked 2016st in the 41 world ranking drawn up by the World Bank through the LPI (Logistics Performance Index), which evaluates the situation of the infrastructure dedicated to trade in the country. But if we look at the same ranking compared to the other CEE and SEE countries, we see how Slovakia is positioned in fourth place: the first market in the region is the Czech Republic in 26th place, followed by Hungary (31st) and Poland (33rd) .
And even in the analysis of the individual components that make up the index, Slovakia always ranks among the first places: the judgments on customs, international shipments and timing of shipments stand out. Last but not least, the geographical position of the country and the dense network of connections with neighboring economies are a strong point for industrial development. The entrepreneurial climate, surveyed through theWorld Bank Doing Business index, places Slovakia in 2018th place in the world rankings in 39, down six positions compared to the previous year. However, extremely positive assessments can be noted with regard to foreign trade and property registration, with assessments on obtaining licenses and building permits clearly improving.
Italy's trade with Slovakia in 2016 showed a progressive increase, particularly lively in the last five years, which brought it to 6,1 billion euros. Imports (+6,4%) reached 3,3 billion, while exports recorded an increase of 10,2% to 2,8 billion. It should be emphasized that, compared to the situation recorded in 2006, trade has more than doubled: in that year, in fact, trade with Italy amounted to 2,9 billion. The Italian balance in 2016 was -0,5 billion, compared to -0,6 billion in the previous year, an amount that has remained practically stable over the last decade.
The share of trade with Slovakia on the total Italian total was equal to 0,8%. In particular, the detail of the net balances by category shows a deficit for Italy as regards computers and electronic devices (almost 438 million) and means of transport (almost 694 million), while there is a surplus for textiles and clothing (133 million), metals (161,5 million), mechanical machinery (127 million) and electrical appliances (160 million). And if Italy mainly imported means of transport (30%), computers and electronic devices (17,3%), metals (11,4%) and mechanical machinery (10,7%), exports mainly consist of metals (19,4%), mechanical machinery (17,3%), electrical appliances (11,7%) and means of transport (10,7%).
According to the Ministry for Economic Development, there are 343 companies in Slovakia operating above all in the fashion, instrumental mechanics, metallurgy and transport sectors. The stock of FDI in 2016 is approximately 3,86 billion, of which the total amount is underestimated since some investments, made through subsidiaries in other countries (Luxembourg, Holland and Austria), are not accounted for as Italian FDI. Among the most important Italian names operating in Slovakia, we mention Magneti Marelli, Bonfiglioli, Prysmian, Slovanske Elektrarne as (66% owned by ENEL), while among the banks Intesa Sanpaolo and Unicredit. Further detailed information on commercial development and investment opportunities for Italian companies can be found on the website of the Italian Ministry of Foreign Affairs at the following page.
