Overview
| 2020 | 2021 | 2022 | 2023 (Estimated) | |
| Total Market Size | 9,279,512 | 8,582,275 | 8,872,107 | 9,000,000 |
| Total Local Production | 9,158,236 | 8,312,589 | 9,258,643 | 9,000,000 |
| Total Exports | 10,522,942 | 12,646,590 | 12,751,101 | 12,500,000 |
| Total Imports | 10,644,218 | 12,916,276 | 12,364,565 | 12,500,000 |
| Imports from the U.S. | 58,185 | 56,374 | 63,849 | 60,000 |
| 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 Local Production: Statistical Office of the Slovak Republic
Total Exports: Global Trade Atlas, Eurostat
Total Imports: Global Trade Atlas, Eurostat
Imports from U.S.: Global Trade Atlas
Exchange Rate: European Central Bank
Resources Leading Sub-Sectors
The following specific items were the leading exports from the U.S. to Slovakia covered by this Leading Sector, ranked in USD from 2021 to 2022:
HS code | 2019 | 2021 | 2022 |
| 84 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts Thereof | 55,829,235 | 63,849,351 |
| 8411 | Turbojets, Turbopropellers and Other Gas Turbines, and Parts Thereof | 864,705 | 10,008,633 |
| 8413 | Pumps For Liquids, With or Without a Measuring Device; Liquid Elevators; Parts Thereof | 11,325,909 | 9,377,179 |
| 8414 | Air/Vacuum Pumps, Air/Gas Compressors and Fans; Ventilating/Recycling Hoods Incorp A Fan; Gas-Tight Biological Safety Cabinets; Parts Thereof | 3,235,988 | 2,601,712 |
| 8407 | Spark-Ignition Reciprocating or Rotary Internal Combustion Piston Engines | 5,967,184 | 2,227,461 |
| 8412 | Engines and Motors Nesoi, and Parts Thereof | 2,311,250 | 1,547,149 |
| 8409 | Parts For Spark-Ignition Reciprocating or Rotary Internal Combustion Piston Engines and Compression-Ignition Internal Combustion Piston Engines | 144,040 | 99,116 |
| 8408 | Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) | 2,318 | 1,906 |
| 8406 | Steam Turbines and Other Vapor Turbines, and Parts Thereof | 849 | |
| 8404 | Auxiliary Plant for Use With Boilers (Steam or Other Vapor Generating, Super-Heated and Central Heating); Vapor Power Unit Condensers; Parts Thereof | 95 | |
| 8403 | Central Heating Boilers Nesoi, Including Central Heating Hot Water Boilers, and Parts Thereof | 425 | |
| 8405 | Producer Gas or Water Gas Generators; Acetylene Gas Generators and Similar Water Process Gas Generators; Parts Thereof | 1,907 |
Opportunities
The most important planned energy project is the construction of a new 1,000MW to 1,700MW “third+ generation” Pressure Water Reactor (PWR) type nuclear power plant with a minimum design life of 60 years. JESS - Jadrova a Energeticka Spolocnost Slovenska (Slovak Nuclear Energy Company) plans to build the new nuclear power plant in Jaslovske Bohunice in order to use the existing infrastructure network. The Ministry of the Environment of the Slovak Republic approved the Environmental Impact Assestment for the construction of new nuclear power plant in 2016. The project is now about halfway through the preparation stage, which will culminate in the selection of a particular technology supplier, including the selection of an appropriate investment and financial model.
Excellent opportunities exist in the energy sector, which is mostly covered by HS Code 84. The Slovak government has signaled its interest in advancing its civl-nuclear footprint. Slovak and U.S. governments signed a Joint Declaration Agreement concerning industrial and commercial cooperation in the nuclear energy sector in March 2012. In March 2023, they updated this agreement to expand cooperation to include cooperation in Small Modular Reactors (SMRs), liquefied natural gas, and hydrogen. The updated agreement is now known as the Joint Declaration Concerning Industrial and Commercial Cooperation in the Energy Sector. Slovakia is interested in deployment of SMRs for production of electricity, hydrogen and district heating in industrial and urban zones. In July 2023, Slovakia’s state-owned nuclear company JAVYS signed a memorandum of understanding with U.S. company Westinghouse Electric Company on the potential development, construction, and operation of AP1000 large reactors and AP300 small modular reactors, which could be potentially be used in the construction of new nuclear power plants in Jaslovske Bohunice and other sites in Slovakia. Slovakia is also planning to issue licences for construction and installation of large wind power plants.
There is growing demand and enthusiasm for the supply of photovoltaic power plants and solar panels for installations on roofs. All procurements anounced by Slovak Electricity Company can be found at the following website: Procurement | Slovenské Elektrárne, a.s. (seas.sk).
There is also opportunity in supply of equipment for production and storage of hydrogen. According to the National Hydrogen Association, Slovakia will consume about 45 thousands tons of hydrogen by 2025 of which 30,000 tons will be used by industry, 5,000 tons by energy sector and 10,000 tons by the transport sector. The Slovak Government plans to provide EU-allocated funding support for hydrogen production in amount of USD 990 million (EUR 954 million). Procurements of equipment for production and strorage of hydrogen financed by the Slovak Government will be anounced by Slovenská inovačná a energetická agentúra (Slovak Innovation and Energy Company) and listed on the website of the Public Procurement Office.
In addition, opportunities exist for the sale of machines, tools, and production technologies to multiple industries including the construction, food, and automotive industries. A number of new automotive subcontractors have opened production facilities near the three original equipment manufacturer (OEM) automobile plants in Slovakia - Volkswagen in Bratislava, Kia in Zilina, PSA/Peugeot in Trnava and Jaguar Land Rover in Nitra. Volvo is building a new plant for production of passenger electric vehicles in Eastern Slovakia.
All major public procurements in this subsector can be found at the website of the Public Procurement Office.
Resources
Statistical Office of the Slovak Republic
Eurostat
Ministry of Economy of the Slovak Republic
Slovenske Elektrarne a.s.
Slovak Energy Agency
Slovak Electricity and Dispatch Company – SEPS
JAVYS
JESS a.s.
Public Procurement Office
Slovak Customs Office
Contact: marian.volent@trade.gov