Car Exports From Slovakia Have Not Decreased. However, Their Structure Has Changed Under the Pressure of Tariffs From the US and Reduced Exports to China.
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The Slovak automotive industry is successfully facing global trade wars thanks to its high flexibility, but in the shadow of new orders, the first warning signs are starting to appear. The National Bank of Slovakia (NBS) pointed out in its latest Financial Stability Report that although the total value of car exports increased slightly by 1.6 percent year-on-year, its structure is changing radically.
The automotive industry in Europe faces several challenges. Despite this, car exports from Slovakia did not change significantly over the past year, and the total value of exports even increased slightly by 1.6 percent year-on-year. However, its structure changed under the influence of increased tariffs by the United States and the gradual reduction of exports to China. This was stated by the National Bank of Slovakia (NBS) in its current Financ…
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