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Slovakia is third most industrialised EU nation

EVERY fourth euro produced in the Slovak economy comes from industry, which makes the country the third most industrialised member of the European Union, after Romania and the Czech Republic. Moreover, the share of industry in the country’s GDP in first half of this year stood at 25.8 percent, according to the study by Poštová Banka, based on Eurostat data.

EVERY fourth euro produced in the Slovak economy comes from industry, which makes the country the third most industrialised member of the European Union, after Romania and the Czech Republic. Moreover, the share of industry in the country’s GDP in first half of this year stood at 25.8 percent, according to the study by Poštová Banka, based on Eurostat data.

The sector with the second highest share on the economy in Slovakia in the first half of the year was wholesale, retail, transport, housing and food, the analysis showed.

“Every ordinary consumer is close to these sectors,” said Poštová Banka analyst Eva Sadovská, as quoted by the TASR newswire, adding that people go shopping, commute to and from work and sometimes go out to eat at restaurants. “This creates demand, which enables companies to produce or offer services and contribute to GDP production.”

Public administration, social security, defence, education, health care and social services came third, with a 12-percent share. Only about three percent of Slovak production was reported in agriculture, forestry and fishing, as well as in art, entertainment and recreation.

Source: TASR

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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