Car output in Slovakia posted a 17% year-on-year surge in January; it grew an annual 19.7% in December as the country’s economy grew by 4%, according to the Slovak statistics office.
Slovakia’s big three car plants, Kia, Peugeot-Citroen and VW, saw combined production grow by 50.9% year on year but electronics production at factories run by South Korea’s Samsung and Taiwan’s Foxconn, another driving force of the local economy, stagnated with 0.8% growth in January after having grown by 26.8% in December.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Slovakia’s economy shrank by 4.8% in 2009 on low demand for cars and electronics but the finance ministry expects the economy to grow by 3.4% this year.
