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Economy of Slovakia


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3 billion in 2006, or around $22,000 per capita by the end of 2008.

Despite a sufficient number of researchers and a decent secondary educational system, Slovakia, along with other post-communist countries, still faces major challenges in the field of the knowledge economy. The business and public research and development expenditures are well below the EU average. The Programme for International Student Assessment, coordinated by the OECD, currently ranks Slovak secondary education the 30th in the world (placing it just below the United States and just above Spain).

In March 2008, the Ministry of Finance announced that Slovakia's economy is developed enough to stop being an aid receiver from the World Bank. Slovakia became an aid provider at the end of 2008.

Industry

Although Slovakia's GDP comes mainly from the tertiary (services) sector, the industrial sector also plays an important role within its economy. The main industry sectors are car manufacturing and electrical engineering. Since 2007, Slovakia has been the world's largest producer of cars per capita, with a total of 571,071 cars manufactured in the country in 2007 alone. There are currently three automobile assembly plants: Volkswagen's in Bratislava, PSA Peugeot Citroen's in Trnava and Kia Motors' Žilina Plant.

From electrical engineering companies, Sony has a factory at Nitra for LCD TV manufacturing, Samsung at Galanta for computer monitors and television sets manufacturing.

Bratislava's geographical position in Central Europe has long made Bratislava a crossroads for international trade traffic. Various ancient trade routes, such as the Amber Road and the Danube waterway, have crossed territory of present-day Bratislava. Today, Bratislava is the road, railway, waterway and airway hub.

Transportation

Bratislava is a large international motorway junction: The D1 motorway connects Bratislava to Trnava, Nitra, Trenčín, Žilina and
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