Economic performance of the Slovak food industry
Belesova, S.(Vyskumny Ustav Ekonomiky Polnohospodarstva a Potravinarstva, Bratislava (Slovak Republic))E-mail:[email protected]
This article analyses the economic performance of Slovak food industry as a whole and its different branches during recent years. Data from 285 companies in 16 branches were analysed. The majority of enterprises (68.1%) were profitable. The highest profits (more than 300 million SKK in 2003) were reported in the canning, meat, starch and confectionary industries. Only two branches, the dairy and poultry industries, posted a loss. The exports increased to more than 16 billion SKK in 2003. The costs of revenues increased and reached 99 per 100 SKK of revenues in comparison with 2002. The percentage of obsolete fixed assets reached 44.9%. As much as 41% of all exports went to the Czech Republic. Investments were primarily financed from the operators' own funds (75,7%), domestic and foreign loans (19.7%). The decrease in the number of employees (5.2%) was related to the increase in labour productivity.
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