Strong fundamentals and Eurozone membership provide for resilience

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 August 2021.

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GDP
USD105bn (World ranking 61, World Bank 2020)
Population
5.5mn (World ranking 117, World Bank 2020)
Form of state Parliamentory Republic
Head of government Eduard Heger (Prime Minister)
Next elections 2024, presidential and 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, 2020)

Exports Rank Imports
Germany 22.0%
1
18.4% Germany
Czech Republic 10.5%
2
9.9% Czech Republic
Poland 7.9%
3
6.7% China
France 7.2%
4
5.7% Poland
Hungary 6.3%
5
5.0% VietNam

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Road vehicles 34.1%
1
17% Road vehicles
Telecommunication and sound recording apparatus 10.4%
2
10.3% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 6.9%
3
7.9% Telecommunication and sound recording apparatus
Other industrial machinery and parts 6.1%
4
5.1% Other industrial machinery and parts
Manufactures of metal, n.e.s. 3.5%
5
4.4% Office machines and automatic data processing machines
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