Economy takes new breath as second Covid wave recedes in Slovakia

But observers warn against shortage of chips in industry and looming third pandemic wave.

Carmakers are well off, but the situation may change given the lack of chips.Carmakers are well off, but the situation may change given the lack of chips. (Source: SME)

The third month of 2021 has resulted in positive developments in several segments of the economy.

Investment Advisory Guide - Your key to understanding the Slovak business environmentInvestment Advisory Guide - Your key to understanding the Slovak business environment (Source: )

Although many sectors remained closed given the anti-pandemic measures still in place, the figures were better than in previous months.

This was mostly the case of foreign trade and industrial production, but mainly because these were compared with last March, impacted by the starting pandemic. Still, observers point to a potential effect in the coming months due to the lack of semiconductor components, which forced some carmakers to suspend their production recently.

Observers expect better development for the next months, particularly when it comes to revenues, referring to the relaxing of pandemic restrictions.

Find out more in our overview of statistics presented in May 2021.

Prices affected by fuels and tobacco

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