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.

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“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.

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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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