The article focuses on the transformation of various state forms in which the Slovaks lived, on forming the Slovak statehood, on historical transformations in the territory of present-day Slovakia until the foundation of the Slovak Republic on January 1, 1993. Specifically, the article is focused on the economic development of the Slovak Republic. It examines how Slovakia’s international economic relations affect its sovereignty and prosperity. It analyzes three basic forms of Slovakia’s participation in international economic relations - international trade, international investment movement and international migration. With the processes of globalization and the participation of Slovakia in the NATO, the European Union and other international organizations, the state’s influence on the economy of Slovakia is considerably limited. In addition, the influence and powers of national institutions on economic development in the state are limited. Slovakia, as a small state, is dependent on integration into international structures. This limits its sovereignty, but not its economic well-being