Industry performance after Slovakia´s accession to the EU (Analysis and modelling based on co-integration)

Ján Haluška, INFOSTAT, Slovak Republic

Pages: 3 – 14

Abstract

In the Slovak economy, the industrial production contributes significantly to the coverage of domestic and external demand. While in 2003, just before Slovakia joined the EU, industrial turnover at current prices reached EUR 44,2 billion, in 2018 it amounted to EUR 99,6 billion. Compared to 2003, the performance of industry in 2018 was more than twice as high. Domestic and external demand have contributed to this, but the impact of the external demand was much stronger. This is evidenced by the fact that while in 2003, external industrial turnover and domestic turnover were more or less the same, in 2018 the former was almost by 50 % higher than the latter. The increasing demand from the euro area countries, in the 16-year period, had a decisive impact on the growth of industrial turnover. The aim of this paper is to identify and measure the impact of those factors that significantly contributed to the growth of industry performance after Slovakia´s accession to the EU.

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