Aug 17(LTIT) –Slovakia is considered a high-income advanced economy and has a mixed economic system in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Slovakia is a member of the European Union. The major industries of the nation are heavy engineering, armaments, automobiles, iron and steel production, nonferrous metals, and chemicals.

Bauxite import of the European nation has remained unstable during 2017-19, as the export volume stood at 27,325 tonnes and revenue expenditure stood at $9.05 million. The estimated export for 2020 has been analysed at 4685 tonnes and the expenditure to remain at $1.44 million. However, when the analysed export volume and expenditure of 2020 gets summed with the existing three years it depicts 32,010 tonnes and $ 10.49 million respectively.

In 2017, Slovakia’s import of Bauxite was recorded at 5982 tonnes and the expenditure stood at $2.53 million, while in 2018 the import saw a rise by 164.74%, as the import volume climbed to 15,837 tonnes and expenditures as rose to $4.74 million.

Slovakia’s import of bauxite in 2019, reflected a downfall by 65.23%, as the import volume dropped at 5506 tonnes and expenditures fell to $1.78 million.

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The projected import for 2020 has also been evaluated with a dip by 14.91%, as the import volume is expected to reduce at 4685 tonnes and expenditures to remain at $1.44 million.

Slovakia’s major trading nation for bauxite importation is Italy, Germany, Poland, UK, etc.