Balance of payments in Slovakia and the selected macroeconomical indicators linked with the automotive industry in Slovakia

Abstract:

The scope of this article is to look into car production in Slovakia. The advent of automotive industry has increased the job opportunities in Slovakia which is linked with better economic performance in such macroeconomic indicators as GDP, rate of registered unemployment, balanced payments, and with other significant sectors of economy, such as education, growth of industry  and overall development of labour force. Since the arrival of such a large carmaker as Volkswagen in Slovakia, we can claim that Slovakia has gradually become the automotive power. The massive production of cars is also closely linked to the GDP of Slovakia. We will evaluate  the recent balanced payments of Slovakia, import and export in automotive industry,  GDP growth, special type of interactive, dual education focused for the needs of industry and  the development of registered unemployment, as it is known, that Almost half of all industrial production of the Slovak economy comes from the automotive industry, and less than half of the exports are made by the automotive industry. The automotive industry employs almost 400,000 people, directly or indirectly.