The major segments of the chemical industry in Slovakia include petroleum refining, production of fertilizers, rubber and plastics production. Unlike in some other countries, the output of the Slovak chemical industry does not consist of one product or a group of few products, but includes a diversified portfolio of hundreds of different products, ranging from petrochemicals, agrochemicals, and primary organic/inorganic chemicals, to rubber, plastic products, rugs and vaccinations.
The business environment in this sector is also influenced by country's strong automotive and electronics sector, which serve as constant, high-capacity clients for different companies from the chemical industry. Producers of pharmaceuticals and single purpose medical accessories are also present in Slovakia.
The sector represents one of the key pillars of the Slovak economy. It has a strong historical background and maintains its stable position in the Slovak industry. It is a sector of crucial importance, not only because of its contribution to the GDP and foreign trade balance, but also for its potential to create jobs, boosting the overall employment.
Although many activities transformed over the years and merged into the automotive industry, the traditional engineering products created a strong skill driven environment and still maintain an important share on the entire Slovak manufacturing sector.
Nowadays Slovakia belongs to the 20 biggest car producers in the world with production of more than one million cars per year.
The industry has a strong tradition and became the most important sector and driving force of the Slovak economy. Over the past 20 years it has been an important source of foreign direct investment. Slovakia is already considered as one of the key players in the global automotive industry, which will be further strengthened by the world class manufacturing facility of Jaguar Land Rover.
& Life Sciences
The Life Sciences sector in Slovakia is represented mainly by the production of pharmaceuticals, medical devices and cosmetics. Although this sector accounts for a relatively small share on the entire industrial production, it offers great potential for new investors. The large scale production of drugs is one of the youngest sectors in Slovak manufacturing. The history of the pharmaceutical industry in Slovakia dates back to the 1950s, when 3 large state-owned companies were established in Slovenska Lupca, Sarisske Michalany and Hlohovec.
Slovakia's ICT sector is dynamically expanding, especially in relation to telecommunication, computer programming or internet information services and present why Slovakia is an outstanding destination for setting up ICT businesses. ICT sector contributes 4.6% to Slovakia's GDP and has significant potential for growth. Due to a favorable combination of business advantages Slovakia has become an attractive destination for ICT investors. Slovakia belongs to the top 3 countries with the lowest reported online security incidents.
Among number of globally well-known products, the most successful were presented by brands ESET, Resco, Soitron, Pixel Federation, Sli.do or Innovatrics.
Over the past two decades, Slovakia experienced dynamic growth of SSC & BPO networks. Encouraged by an increasing high-quality standard of the Slovak business environment, the number of multinational centers is expected to increase further. Availability of talented personnel is one of the key elements for SSC & BPOs success. In Slovakia investors can find qualified, multilingual and highly adaptable workforce matched with competitive wage costs.
In former Czechoslovakia, a self-sufficient food producing country, Slovakia served as an agricultural and food processing powerhouse. Since then, the production capacities have lost large part of their original market, but have gained new value from a European perspective. This offers a lot of potential, as some of these opportunities still remain undiscovered.
Food processing constitutes an integral part of the Slovak economy and contributes more than 4% to Slovak industrial production (excluding beverages). There are about 230 food processing companies that can be divided into various sectors such as dairy, meat, milling, sugar, soft drinks, brewing, wine and spirits, bakery & confectionary and other food processing industries. Among the top players in Slovakia’s food processing industry are Tate&Lyle, Hyza, Rajo, Nestlé or Heineken.