Slovakia Travel Guide

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Statistics

•GDP: US$119.8 billion (2008).
• Main exports: Vehicles, machinery and transport equipment, base materials, plastics, chemicals and minerals.
• Main imports: Machinery and equipment, chemicals and fuels.
• Main trade partners: Germany, Czech Republic, Russian Federation, Poland and Australia.

Economy

After the division of Czechoslovakia in 1993, the newly independent Slovak government found its heavy industries to be something of a millstone, but they continue to play a central role in the economy. The agricultural sector (almost all of which is now privately owned) produces wheat and grains, sugar beet, vegetables and livestock. However, its relative economic contribution is not substantial. The bulk of the industrial economy has been transferred to the private sector, including the key areas of machinery and chemical industries, textiles, leather, shoes, glass, electronics, nuclear energy and car manufacturing.

After the initial transition shock, the economy performed fairly well in the mid and late 1990s, but then went into recession. The situation was brought under control from 2002, after which the economy experienced considerable growth. Unemployment has today been reduced to below 9% but remains a political issue. Slovakia adopted the euro at the start of 2009. Despite the global downturn, international body The Organization for Economic Co-operation and Development expects the country’s fiscal growth to continue to be positive.

Business Etiquette

Businesspeople tend to wear suits and smart dress. English and German are the business languages, though any knowledge of Slovak is appreciated. Long business lunches are usual and presents are also appreciated. In recent years new media industries have been bringing in a greater degree of informality, especially in Bratislava.

Office hours: Mon-Fri 0800-1700 (or longer).

Business Contacts

Slovak Chamber of Commerce and Industry
Gorkeho 9, 816 03 Bratislava, Slovak Republic
Tel: (2) 5443 3291.
Website: www.scci.sk

National Agency for the Development of Small and Medium Enterprises
Miletičova 23, 821 09 Bratislava, Slovak Republic
Tel: (2) 5024 4500.
Website: www.nadsme.sk

Slovak Investment & Trade Development Agency
Martinčekova 17, 821 01 Bratislava, Slovak Republic
Tel: (2) 5826 0100.
Website: www.sario.sk

Slovak Tourist Board's Congress & Convention Department
Tel: (2) 5070 0801.
Website: www.sacr.sk