Slovakia’s economy has become more complex

The more complex a country’s economy is, the more it is able to face trade wars and crises affecting individual sectors.

Groupe PSA Slovakia plant in Trnava.Groupe PSA Slovakia plant in Trnava. (Source: SME)

Slovakia ranks as the 15th most complex country in the Economic Complexity Index (ECI) ranking based on 2017 data. Compared to a decade prior, its economy has become more complex, improving by one position in the ECI ranking, based on the ranking of the Growth Lab of Harvard university.

“Slovakia’s largest exports are in moderate and high complexity products, vehicles and electronics, respectively,” reads the ranking.

The economic complexity of a country is calculated based on the diversity of exports a country produces and their ubiquity.

The more complex the economy is, the more it is able to face trade wars and crises affecting individual sectors, points out the Denník N.

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