Alumina and primary aluminium market in Slovakia

Earlier Report Observations

The alumina and primary aluminium market in Slovakia underwent a substantial contraction from 2018 to 2024. Market volume in physical terms fell from 463.7 thousand tonnes in 2018 to 144.8 thousand tonnes in 2024, representing a decline of nearly 70%. The most severe reduction occurred after 2020, with the market more than halving by 2023.

This sharp decrease was the result of parallel declines in domestic production and imports. Production dropped from 217.4 thousand tonnes in 2018 to 46.0 thousand tonnes in 2024, while imports fell from 416.9 thousand tonnes to 136.5 thousand tonnes over the same period. Although exports also decreased, the net market size shrank significantly, indicating a broad-based downturn in the sector.

By the end of the period, the market had stabilized at a much lower level, with volume edging down from 169.4 thousand tonnes in 2023 to 144.8 thousand tonnes in 2024. The overall trend points to a fundamental and persistent reduction in the scale of Slovakia's alumina and primary aluminium industry during these years.

Production alumina and primary aluminium in Slovakia

In value, 2017-2020, M $ US

Slovakia's alumina and primary aluminium production declined for the second consecutive year. In 2020, output was valued at 364.4 million US dollars, marking a significant year-over-year decrease of 19.9%. Production peaked in 2018 at 511.9 million US dollars, with the largest annual increase of 14.0% recorded that same year. Over the period from 2017 to 2020, production fell by 18.9%, equivalent to an annualized decline rate of 6.7%.

Annual dynamics of production in Slovakia in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Slovakia's alumina and primary aluminium production declined for the third consecutive year. In 2020, the country produced 196.3 thousand tonnes, representing a modest year-over-year decrease of 9.0%. From 2017 to 2020, production decreased by 10.6%, with a compound annual growth rate of -3.7%.

Annual dynamics of production in Slovakia in kind, 2017-2020, K t

Exports alumina and primary aluminium from Slovakia

Exports in kind, K t

After a two-year increase, Slovakia's alumina and primary aluminium export volume declined. In 2020, exports reached 151.0 thousand tonnes, down 15.2% compared to 2019. The highest export volume was recorded in 2019 at 178.1 thousand tonnes, with the largest annual increase of 4.4% occurring that year. Over the period from 2017 to 2020, exports decreased by 8.9%, with a compound annual growth rate of -3.1%.

Annual dynamics of product's exports from Slovakia in kind, 2017-2020, K t

From 2017 to 2020, Hungary, Poland, and Italy were the top buyers of alumina and primary aluminium from Slovakia, accounting for 21.2%, 20.9%, and 16.1% of exports in kind, respectively. Together, these three countries represented 58.2% of Slovakia's total exports in this category.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Slovakia in kind, 2017-2020

Exports in value, M $ US

Slovakia's alumina and primary aluminium exports declined for the second consecutive year. In 2020, export value stood at 293.1 million US dollars, showing a substantial reduction of 24.3% compared to the previous year. The maximum value was recorded in 2018 at 403.6 million US dollars, with the largest annual increase of 12.2% occurring that year. Over the period from 2017 to 2020, exports decreased by 18.5%, with a compound annual growth rate of -6.6%.

Annual dynamics of product's exports from Slovakia in value, 2017-2020, M $ US

From 2017 to 2020, Hungary, Poland, and Italy led as the top buyers of alumina and primary aluminium from Slovakia in value terms, with shares of 21.4%, 21.0%, and 16.3%, respectively. Their combined share reached 58.7% of Slovakia's total exports in this category.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Slovakia in value, 2017-2020

Imports alumina and primary aluminium to Slovakia

Imports in kind, K t

Slovakia imported 374.0 thousand tonnes of alumina and primary aluminium in 2020, down 11.3% compared to the previous year. The largest annual increase was recorded in 2019 at 1.2%. Over the period from 2017 to 2020, imports decreased by 14.8%, with a compound annual growth rate of -5.2%.

Annual dynamics of product's imports to Slovakia in kind, 2017-2020, K t

From 2017 to 2020, Ireland, Greece, and Jamaica were the main sources of alumina and primary aluminium imports to Slovakia, accounting for 37.3%, 16.6%, and 9.6% of imports in kind, respectively. Together, these three countries represented 63.5% of Slovakia's total imports in this category.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Slovakia in kind, 2017-2020

Imports in value, M $ US

Alumina and primary aluminium imports to Slovakia declined for the second consecutive year. In 2020, imports were recorded at 234.9 million US dollars, indicating a drop of 22.2% compared to 2019. The maximum value was recorded in 2018 at 374.9 million US dollars, with the largest annual increase of 12.6% occurring that year. Over the period from 2017 to 2020, imports decreased by 29.4%, with a compound annual growth rate of -11.0%.

Annual dynamics of product's imports to Slovakia in value, 2017-2020, M $ US

From 2017 to 2020, the country structure of imports in value terms was highly diversified. Ireland, Greece, and Czechia accounted for 20.9%, 9.3%, and 7.7% of imports, respectively, totaling only 37.9% of total flows. The remaining 62.1% was formed by a long tail of smaller markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Slovakia in value, 2017-2020