Slovakia Cannot Rely Solely on Auto Industry and European Markets, Says Economy Minister

Slovakia's Economy Minister Peter Raši warned that the country's economy cannot continue to depend exclusively on its automotive sector and European export markets. The minister emphasized the need for Slovakia to develop new export engines to diversify its economic base. Slovakia's economy has been heavily reliant on car manufacturing, with major plants from Volkswagen, Peugeot, Kia, and Jaguar Land Rover making it one of the world's largest per-capita car producers. The automotive industry accounts for a significant portion of the country's industrial output and exports, primarily to European Union markets, making the economy vulnerable to disruptions in either the auto sector or European demand.