The development of Slovakia’s foreign trade and the role of small and medium-sized businesses in its formation

Abstract

Modern globalization processes occurring in the global economy, significantly affect the
openness of economies. Slovakia is one of the most open economies among the EU countries and is
highly dependent on foreign trade. Thus, the positive development of foreign trade significantly affects
the effective functioning of the entire economy. The main objective of the economic and trade policy of
Slovakia is to improve economic performance, efficiency and competitiveness. This study also examined
the position of small and medium-sized businesses (SMEs) in Slovakia’s foreign trade. At the present
stage, SMEs in Slovakia are of great importance for the development of its economy and foreign trade,
especially its internationalization. The article also provides an overview of the main ways to support its
export.