BRATISLAVA, June 15, (WEBNOVINY) — Several large companies dominate Slovakia’s exports. According to a report on foreign trade development in 2010, which was on the Cabinet’s table on Wednesday, ten biggest exporters covered almost 40 percent of the total volume of Slovakia’s export. Last year, the title of the country’s top exporter went again to Samsung, which was followed by carmakers Volkswagen and Kia Motors. The top ten features also steelworks US Steel Kosice, refiner Slovnaft, carmaker PSA Slovakia, Foxconn, Sony, Continental Matador and Slovnaft Petrochemicals.
The stars of last year’s export were electrical machines and devices. Their share on total export, which stood at EUR 48.791 billion, was 24.5 percent. The share of cars was 20.4 percent. Electrical devices also dominated imports, which reached EUR 48.654 billion last year as well. The share of electrical devices in overall import was over 20 percent. The second highest share at 12.56 percent belonged to mineral fuels. Last year, exports of goods and services from Slovakia grew 19.7 percent and imports surged 20.5 percent. The trade balance worsened by EUR 306 million in 2010. This y/y drop results from increasing demand on import and growing prices of raw materials on global markets. The item that contributed most to the worsened trade balance was growing import of mineral fuels and mineral oils. The share of foreign trade turnover on GDP reached 162.3 percent in 2010, which confirms the high level of openness of the Slovak economy.
SITA
