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Industry revenue of »retail sale of hardware, paints and glass« in Slovakia 2011-2023

Over the years building construction and building completion and finishing activities such as joinery installation, painting and glazing, floor and wall covering and plastering, etc have witnessed strong growth in Slovakia, fuelled by the growing consumer income and a rise in infrastructural projects. This usually augurs well for the hardware, paints and glass retail industry, as it leads to an increased demand for products such as paints, varnishes and hardware accessories. However, this is not the case with the Slovakian market, as industry revenues have declined from 968 million U.S. dollars in 2011 to 653 million U.S. dollars in 2019. This can be attributed to a decline in indigenous manufacturing, owing to the high costs and lack of investments in the necessary infrastructure. To give this some perspective, revenues of the flat glass manufacturing industry have declined 77 percent between 2011-2019. Most of the demand is fulfilled by cheaper imports.

Industry revenues are expected to slump further in the short to medium term, as the outbreak of the corona virus has stalled majority of the industrial operations and disrupted the supply chain cycle.

Industry revenue of »retail sale of hardware, paints and glass« in Slovakia from 2011 to 2023

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Sources

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 “retail sale of hardware, paints and glass in specialised stores“ has the code “G4752“.

Details on the methodology can be found here.

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