Overview
| 2020 | 2021 | 2022 | 2023 (Estimated) | |
| Total Market Size | 7,823,102 | 9,907,977 | 12,218,148 | 10,500,000 |
| Total Local Production | 5,039,589 | 5,827,233 | 7,259,287 | 7,000,000 |
| Total Exports | 15,495,984 | 17,608,677 | 17,178,047 | 17,500,000 |
| Total Imports | 18,279,497 | 21,689,421 | 22,136,908 | 21,000,000 |
| Imports from the U.S. | 42,849,296 | 36,118,666 | 52,603,060 | 50,000 |
| Exchange Rate: 1 USD | 1.13 | 1.18 | 1.195 | 1.19 |
USD thousands (total market size = (total local production + imports) - exports)
Data Sources:
Total Exports: Global Trade Atlas, Eurostat
Total Imports: Global Trade Atlas, Eurostat
Imports from U.S.: Global Trade Atlas, Eurostat
Exchange Rate: European Central Bank
Leading Sub-Sectors
The following specific items were the leading exports from the United States to Slovakia covered by this Leading Sector, ranked in USD from 2021 to 2022:
| HS code | ITEM | 2021 | 2022 |
| 85 | Electrical Machinery nd Equipment and Parts Thereof; Sound Recorders and Reproducers, Television Recorders and Reproducers, Parts and Accessories | 36,118,666 | 52,603,060 |
| 8501 | Electric Motors and Generators (Excluding Generating Sets) | 980,894 | 1,865,393 |
| 8504 | Electrical Transformers, Static Converters or Inductors; Power Supplies for Adp Machines or Units; Parts Thereof | 1,000,660 | 1,800,661 |
| 8509 | Electromechanical Domestic Appliances, With Self-Contained Electric Motor; Parts Thereof | 128,552 | 120,965 |
| 8502 | Electric Generating Sets and Rotary Converters | 184,056 | 88,537 |
| 8507 | Electric Storage Batteries, Including Separators Therefor; Parts Thereof | 95,213 | 84,538 |
| 8506 | Primary Cells and Primary Batteries; Parts Thereof | 85,034 | 76,441 |
| 8511 | Electrical Ignition or Starting Equipment Used for Spark-Ignition or Compression-Ignition Internal Combustion Engines; Generators Etc. Thereof; Parts | 28,573 | 62,517 |
| 8505 | Electromagnets; Permanent Magnets and Articles to be Permanent After Magnetization; Electromagnetic or Permanent Magnet Chucks, Brakes Etc.; Parts | 84,955 | 60,989 |
| 8503 | Parts of Electric Motors, Generators, Generating Sets and Rotary Converters | 89,127 | 48,410 |
| 8510 | Electric Shavers and Hair Clippers and Hair-Removing Appliances, with Self-Contained Electric Motor; Parts Thereof | 31,223 | 18,563 |
| 8508 | Vacuum Cleaners; Parts Thereof | 2,904 | 18,438 |
Opportunities
There is high demand in Slovakia for information and communications techonology (ICT) products and services due to continuing investment from the central government, municipalities, banks, private companies, and financial service institutions. There is market demand for increasing 5G cellular coverage and internet networks, cloud storage, cyber security solutions, and the maintenance of existing network hardware and software. Automobile manufacturers, engineering companies, and energy production and distribution companies are also contributing to the growth of the ICT sector by implementing industry 4.0 and manufacturing technologies.
The best prospects in the area of business process technology are implementation of artifical intelligence, audio-video teleworking hardware and applications, cyber security solutions, complex artificial intelligence customer services and virtual call centers solutions, cloud storage systems and application software, customized software, solutions for electronic distribution channels providing all basic retail functions, complex information systems for electronic payments and e-card payment services, decision-support information systems, information systems for management staff, and complex information systems for insurance companies.
The best prospects in communication technologies are high speed internet for virtual teleworking solutions, smart phones, tablets, cloud technology, wireless application protocol (WAP) services, and 5G equipment and solutions. There are also opportunities for alternate internet providers and other new services such as virtual call centers and tele-education or distance learning services.
The best prospects in digital equipment and systems are cloud-based data systems, thin work stations, data communications equipment, packet switching and routing equipment, key systems and circuit switching equipment, data and network equipment, system and application software, switched data and leased line services, streaming, cable and digital TV services, set-top boxes, and digital presentation technology.
Analog television is no longer broadcasted in Slovakia. End-users replaced traditional CRTs and analog plasmas with digital smart TVs with flat panel displays. Advances in digital technology for the AV/IT/Telecommunications/Consumer Electronics markets are stimulating demand for the latest innovations in both the residential and business sectors. Internet services offered by Slovanet, T-Com, O2, Orange, UPC and SWAN usually include a “triple play” package (internet, TV on demand and VoIP).
The consumer electronics entertainment segment of the AV market is the largest and fastest growing segment in this sector. Among television sets, there is a trend towards large digital LED, OLED and QLED units with full 8k and 4k resolution and equipped with DVBT-2, DVBS and DVBC receivers. Popular products include 4k OLED, QLED and LED TVs, set top boxes, HiFi audio equipment, and digital satellite receivers. For the business segment, popular AV products include electronic display systems and signage, projectors and control systems. Demand for wireless/mobile/portable products is fast growing.
Good opportunities also exist in the telecommunications sector for the construction of 5G networks and the sale of innovative peripheral products and services. The largest four mobile operators in Slovakia are Orange, Slovak Telecom, O2 and Swan. Slovak Telecom is the primary land-line service provider.
ICT-related consulting, virtual web conference solutions, virtual education and virtual training services, and teleconferencing audiovisual equipment are promising value added services, as many SMEs and large enterprises implement the newest virtual teleconferencing solutions for telework and virtual communication with their clients. Examples include cloud data storage, thin office models, teleworking, virtual web conference and virtual trade show solutions.
All public procurements in ICT sector can be found at the following website of the Public Procurement Office.
Resources
Statistical Office of the Slovak Republic
Eurostat
The Ministry of Economy of the Slovak Republic
The Ministry of Finance of the Slovak Republic
UPC
Orange
O2
SWAN
Slovak Telecom
Contact: marian.volent@trade.gov