Risk Management - Articles
An overview on Slovakia
January 28th 2021
Slovakia is in the heart of central Europe. It was part of the Austro-Hungarian Empire until the end of World War I in 1918. Then, it became a part of the new nation of Czechoslovakia. On 1st January 1993, Czechoslovakia underwent a nonviolent "velvet divorce" into its two national components, Slovakia and the Czech Republic. Slovakia joined both NATO and the EU in 2004 and the euro zone on 1st January 2009.
Slovakia’s economy suffered from a slow start in the first years after its separation from the Czech Republic in 1993, but economic reforms implemented after 1998 have helped Slovakia to grow at a much faster pace. Exports and investment have been key drivers of Slovakia’s vigorous growth in recent years. Currently the Slovak Republic has a small, open economy driven mainly by automobile and electronics exports, which account for more than 80% of GDP. However, also Slovakia has been hit hard by Covid 19 pandemic.
Especially in this period characterized by uncertainty, only the most credited and trusted business information sources can successfully support you in retrieving information on Slovak companies. SkyMinder , thanks to the local provider CRIF - Slovak Bureau, one of the most expert and trusted sources in the country, is able to support you in getting a reliable and in-depth view of your business partner and prospects.