Moderate upturn on the horizon but caution regarding public finances

A1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in July 2024.

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GDP
USD115.5bn (World ranking 62, World Bank 2022)
Population
5.4mn (World ranking 119, World Bank 2022)
Form of state Parliamentary Republic
Head of government Robert FICO (Prime Minister)
Next elections 2027, legislative 
  • Low systemic political risk
  • Good regional and international relations; EU membership
  • Eurozone membership providing for low transfer and convertibility risk
  • Solid banking sector
  • Strong business environment overall; very attractive for foreign investors
  • Small domestic market
  • High dependence of the economy on the automobile sector and on exports
  • Relatively high external debt level

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
Germany 21.0%
1
14.0% Germany
Czech Republic 12.0%
2
9.0% Czech Republic
Hungary 8.7%
3
7.5% China
Poland 7.8%
4
7.5% Russian Federation
France 5.9%
5
5.7% Korea, Republic of

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Road vehicles 30.6%
1
14.7% Road vehicles
Telecommunication and sound recording apparatus 8.5%
2
9.7% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 6.9%
3
7.5% Telecommunication and sound recording apparatus
Other industrial machinery and parts 6.0%
4
5.6% Gas, natural and manufactured
Iron and steel 5.4%
5
4.8% Other industrial machinery and parts
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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