CEE boasts a long tradition in furniture and wood processing, as well as a highly educated population specialised in certain sectors of electrical goods and electronics. Poland has become a European leader in the dynamically developing domestic appliances sector, while in Slovenia, Gorenje Group is its most internationalised and biggest exporter in the same industry. It’s also a key investor in Serbia, where the government is actively promoting growth in the country’s electronics sector. Accounting for €168 million in FDI inflow, the country is popular with international business due to the depth, flexibility and specialisation of its workforce.
At 22 per cent of total manufacturing production, electronics is the second largest sector in Hungary, also the largest electronics producer in CEE. The country is developing into a major centre for mobile technology, along with Estonia, where its rapidly developing electrical and optical equipment sector includes a subsidiary of Ericsson producing mobile broadband connection modules. Latvia’s industry specialises in niche products requiring deep technical expertise, while electrical engineering is the second biggest employer and exporter in Slovakia, particularly within the electro-technical industry. Foreign investors looking to sell products and services in the country and across the Western Balkans, can rely on local experts and support.
A leader in furniture fabrication, 60 per cent of Slovenia is covered in forest and boasts a strong, specialised workforce in wood processing and customs-free export of office furniture. Lithuania is the world’s fifth biggest supplier of furniture products to IKEA, while Latvia is the most forested, making its timber exports its most significant.