Country Guides
Slovak Republic
Business
Business
Slovak Republic
• GDP: US$96.5 billion (2006).
• Main exports: Vehicles, machinery and transport equipment, base materials, plastics, chemicals and minerals.
• Main imports: Machinery and equipment, chemicals and fuels.
• Main trade partners: Germany, Czech Republic, Russian Federation, Poland and Australia.
Economy
After the division of Czechoslovakia in 1993, the newly independent Slovak government found its heavy industries to be something of a millstone, but they continue to play a central role in the economy. The agricultural sector (almost all of which is now privately owned) produces wheat and grains, sugar beet, vegetables and livestock. However, its relative economic contribution is not substantial. The bulk of the industrial economy has been transferred to the private sector, including the key areas of machinery and chemical industries, textiles, leather, shoes, glass, electronics, nuclear energy and car manufacturing.
After the initial transition shock, the economy performed fairly well in the mid and late 1990s, but then went into recession. Since 2002, however, the situation has been brought under control. The economy is now growing and unemployment is improving at 11.3%; inflation in 2006 was 4.3%. Almost two-thirds of Slovak trade is now with the EU's original 15 members.
Business Etiquette
Businesspeople tend to wear suits and smart dress. English and German are the business languages, though any knowledge of Slovak is appreciated. Long business lunches are usual and presents are also appreciated. In recent years new media industries have been bringing in a greater degree of informality, especially in Bratislava.
Office hours: Mon-Fri 0800-1700 (or longer).
Business Contacts
Slovak Chamber of Commerce and Industry
Gorkeho 9, 816 03 Bratislava, Slovak Republic
Tel: (2) 5443 3291.
Website: www.scci.sk
National Agency for the Development of Small and Medium Enterprises
Miletičova 23, 821 09 Bratislava, Slovak Republic
Tel: (2) 5024 4500.
Website: www.nadsme.sk
Slovak Investment & Trade Development Agency
Martinčekova 17, 821 01 Bratislava, Slovak Republic
Tel: (2) 5826 0100.
Website: www.sario.sk
Slovak Tourist Board's Congress & Convention Department
Tel: (2) 5070 0801.
E-mail: congress@sacr.sk
• GDP: US$96.5 billion (2006).
• Main exports: Vehicles, machinery and transport equipment, base materials, plastics, chemicals and minerals.
• Main imports: Machinery and equipment, chemicals and fuels.
• Main trade partners: Germany, Czech Republic, Russian Federation, Poland and Australia.
• Main exports: Vehicles, machinery and transport equipment, base materials, plastics, chemicals and minerals.
• Main imports: Machinery and equipment, chemicals and fuels.
• Main trade partners: Germany, Czech Republic, Russian Federation, Poland and Australia.
Economy
After the division of Czechoslovakia in 1993, the newly independent Slovak government found its heavy industries to be something of a millstone, but they continue to play a central role in the economy. The agricultural sector (almost all of which is now privately owned) produces wheat and grains, sugar beet, vegetables and livestock. However, its relative economic contribution is not substantial. The bulk of the industrial economy has been transferred to the private sector, including the key areas of machinery and chemical industries, textiles, leather, shoes, glass, electronics, nuclear energy and car manufacturing.
After the initial transition shock, the economy performed fairly well in the mid and late 1990s, but then went into recession. Since 2002, however, the situation has been brought under control. The economy is now growing and unemployment is improving at 11.3%; inflation in 2006 was 4.3%. Almost two-thirds of Slovak trade is now with the EU's original 15 members.
After the initial transition shock, the economy performed fairly well in the mid and late 1990s, but then went into recession. Since 2002, however, the situation has been brought under control. The economy is now growing and unemployment is improving at 11.3%; inflation in 2006 was 4.3%. Almost two-thirds of Slovak trade is now with the EU's original 15 members.
Business Etiquette
Businesspeople tend to wear suits and smart dress. English and German are the business languages, though any knowledge of Slovak is appreciated. Long business lunches are usual and presents are also appreciated. In recent years new media industries have been bringing in a greater degree of informality, especially in Bratislava.
Office hours: Mon-Fri 0800-1700 (or longer).
Office hours: Mon-Fri 0800-1700 (or longer).
Business Contacts
Slovak Chamber of Commerce and Industry
Gorkeho 9, 816 03 Bratislava, Slovak Republic
Tel: (2) 5443 3291.
Website: www.scci.sk
National Agency for the Development of Small and Medium Enterprises
Miletičova 23, 821 09 Bratislava, Slovak Republic
Tel: (2) 5024 4500.
Website: www.nadsme.sk
Slovak Investment & Trade Development Agency
Martinčekova 17, 821 01 Bratislava, Slovak Republic
Tel: (2) 5826 0100.
Website: www.sario.sk
Slovak Tourist Board's Congress & Convention Department
Tel: (2) 5070 0801.
E-mail: congress@sacr.sk
Gorkeho 9, 816 03 Bratislava, Slovak Republic
Tel: (2) 5443 3291.
Website: www.scci.sk
National Agency for the Development of Small and Medium Enterprises
Miletičova 23, 821 09 Bratislava, Slovak Republic
Tel: (2) 5024 4500.
Website: www.nadsme.sk
Slovak Investment & Trade Development Agency
Martinčekova 17, 821 01 Bratislava, Slovak Republic
Tel: (2) 5826 0100.
Website: www.sario.sk
Slovak Tourist Board's Congress & Convention Department
Tel: (2) 5070 0801.
E-mail: congress@sacr.sk
Travel Partners
Travel Centre
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