Slovak industry sees sharp decline in new orders at year-end

Slovakia’s industrial sector experienced a significant drop in new orders at the close of 2024, with a year-on-year decline of 11.4% in December, bringing the total order volume to €4.58 billion. Over the course of the year, new orders fell in eight out of twelve months, leading to an overall 3.5% annual decrease. On a seasonally adjusted basis, orders dropped 6.8% compared to November 2024.

The downturn affected nine of the twelve key industrial sectors monitored monthly. The steepest declines were recorded in the manufacture of transport equipment, apparel, and computer, electronic, and optical products. However, some industries bucked the trend, with pharmaceuticals, textiles, and chemical production showing year-on-year growth.

As global economic uncertainties persist, the Slovak industry faces continued challenges, with hopes pinned on stabilization and recovery in 2025.