Industry revenue of »manufacture of consumer electronics« in Slovakia 2011-2023

Over the years, Asia has emerged as a leader in consumer electronics manufacturing, with China, Japan and South Korea accounting for over 50 percent of the worldwide production and exports, fuelled by the availability of a low-cost workforce, resulting in lower operational and production costs. Unsurprisingly, eight of the leading nine consumer electronic companies in the world are headquartered in the Asia-Pacific region, with Garmin being the only exception.

As a result, domestic production in majority of the European nations including the UK, Czech Republic, and Denmark has been declining, with cheaper imports satisfying majority of the demand. The situation is not different in Slovakia, with industry revenues projected to decline from 5.8 billion U.S. dollars in 2011 to 4.5 billion U.S. dollars by 2023.

Majority of the consumer electronics are purchased through brick and mortar stores in the country. However, the online market is fast growing, owing to the favorable pricing options., followed by and are amongst the most popular online stores to purchase consumer electronics.

Industry revenue of »manufacture of consumer electronics« in Slovakia from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Slovakia. The industry “manufacture of consumer electronics“ has the code “C264“.

Details on the methodology can be found here.

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