BRATISLAVA, March 18, (WEBNOVINY) – An analysis by UniCredit Bank forecast that the Slovak economy does not necessarily have to be afflicted profoundly by Japan’s disaster. On the contrary, Japan’s restoration mediated by several countries could have a slightly positive impact on the Slovak production on the long-term horizon.
Slovakia’s output directed at Japan accounts for a mere 0.1 percent of overall exports. “However, part of the Slovak output will likely end up in Japan, mediated by our biggest business partner Germany that ships 1.4 percent of all exports to Japan. But it still is a very small portion,” bank analyst David Derenik elaborated.
Imports from Japan play a slightly stronger part, representing 1.1 percent of all imports. But among them may be some licensed products using modern technology. Their replenishment from other countries could be problematic in case of an outage. Regarding overall imports from Japan, components for consumer electronics production made up nearly two-thirds, representing mostly components for LCD TV set production. The automotive industry has the second largest portion of imports from Japan. Thus, the Slovak economy does not have to be afflicted strongly via direct business relations.
SITA