Off the wire
• Exhibition suggests ways compact cities can be designed  • Spanish travelers face potential rail chaos on Friday  • Italy hails Libyan deal for unity gov't  • Hungarian former official Biszku gets suspended sentence  • Political advisors call for efforts to boost family service  • Van hits eight and runs in E China  • China, Kenya sign agreements on financing of aid projects  • Syria cancels mutual visa waiver deal with Turkey  • 1st LD: Libyan rivals sign UN-brokered deal to settle political crisis  • Zimbabwe says to accelerate business environment reforms  
You are here: 　 Home

Jaguar's arrival in Slovakia to increase GDP growth: analysis

Xinhua, December 18, 2015 Adjust font size:

The arrival of British carmaker Jaguar Land Rover in Slovakia may increase the country's overall GDP growth, according to the latest analysis of the Slovak central bank (NBS) published on Thursday.

On the other hand, certain risks for the country's economy are presented by possible oil price developments and uncertainty surrounding the sales of Volkswagen (VW) cars in the United States, the analysis said.

"While Volkswagen's overall sales in the USA in October were at the same level as last year, the emissions problem resulted in a 25-percent cut in sales year-on-year in November," noted NBS.

Although Slovakia's VW plant's direct exposure vis-a-vis the United States is relatively low, the factory is likely to suffer via its parent company in Germany.

"If exports of VW's Slovak plant to the USA were reduced by 25 percent next year, it would affect the plant in terms of a 2.7-percent decline in production and a drop in the country's GDP of 0.1 percentage points," the analysis of NBS concluded. Enditem