| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Slovakia Economy 2011
https://theodora.com/wfb2011/slovakia/slovakia_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese



Page last updated on January 12, 2011

Economy - overview:
Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. Reforms to the taxation, healthcare, pension, and social welfare systems helped Slovakia to consolidate its budget and get on track to join the EU in 2004 and to adopt the euro in January 2009. Major privatizations are nearly complete, the banking sector is almost entirely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive and electronic sectors has been strong. Slovakia's economic growth exceeded expectations in 2001-08 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 7.7% in 2008 but remains the economy's Achilles heel. FICO's cabinet was careful to keep a lid on spending in order to meet euro adoption criteria and has focused on regulating energy and food prices instead. To maintain a stable operating environment for investors, the European Bank for Reconstruction and Development advised the Slovak government to refrain from intervening in important sectors of the economy. However, Bratislava's approach to mitigating the economic slowdown has included substantial government intervention and the option to nationalize strategic companies. Slovakia was admitted to the euro zone in January 2009. RADICOVA's government, in power since July 2010, has allowed the budget deficit to rise slightly, to 8.2% of GDP in 2010. GDP fell nearly 5% in 2009 before gaining back 4% in 2010, and unemployment rose above 12% in 2010, as the global recession impacted many segments of the economy.

GDP (purchasing power parity):
$121.3 billion (2010 est.)
country comparison to the world: 62

$116.7 billion (2009 est.)
$122.4 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$86.26 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2010 est.)
country comparison to the world: 82

-4.7% (2009 est.)
6.2% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$22,200 (2010 est.)
country comparison to the world: 57

$21,400 (2009 est.)
$22,400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 2.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 35.6%
[see also: GDP - composition by sector - industry country ranks ]
services: 61.8%
[see also: GDP - composition by sector - services country ranks ]

Labor force:
2.673 million (2009 est.)
country comparison to the world: 107
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 27%
[see also: Labor force - by occupation - industry country ranks ]
services: 69.4% (December 2009)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
12.5% (2010 est.)
country comparison to the world: 133

11.4% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
21% (2002)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 20.9% (1996)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
26 (2005)
country comparison to the world: 130

26.3 (1996)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22.2% of GDP (2009 est.)
country comparison to the world: 65
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $28.45 billion
[see also: Budget - revenues country ranks ]
expenditures: $35.01 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
41% of GDP (2010 est.)
country comparison to the world: 66

35.7% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.2% (2010 est.)
country comparison to the world: 28

1.6% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2009)
country comparison to the world: 124

3% (31 December 2008)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks from the euro area; as of 1 January 2009 Slovakia became a member of the Economic and Monetary Union (EMU)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)

NA% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$34.37 billion (31 December 2010 est)

$34.1 billion (31 December 2009 est)
note: this figure represents the US dollar value of Slovak koruny in circulation prior to Slovakia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$52.63 billion (31 December 2010 est.)

$52.68 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$65.09 billion (31 December 2010 est.)
country comparison to the world: 58

$64.25 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.672 billion (31 December 2009)
country comparison to the world: 81

$5.079 billion (31 December 2008)
$6.971 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry; forest products

Industries:
metal and metal products; food and beverages; electricity, gas, coke, oil, nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products

Industrial production growth rate:
7.5% (2009 est.)
country comparison to the world: 35
[see also: Industrial production growth rate country ranks ]

Electricity - production:
25.9 billion kWh (2009 est.)
country comparison to the world: 65
[see also: Electricity - production country ranks ]

Electricity - consumption:
28.75 billion kWh (2009 est.)
country comparison to the world: 61
[see also: Electricity - consumption country ranks ]

Electricity - exports:
8.891 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
9.412 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
4,114 bbl/day (2009 est.)
country comparison to the world: 96
[see also: Oil - production country ranks ]

Oil - consumption:
79,930 bbl/day (2009 est.)
country comparison to the world: 85
[see also: Oil - consumption country ranks ]

Oil - exports:
75,110 bbl/day (2008 est.)
country comparison to the world: 72
[see also: Oil - exports country ranks ]

Oil - imports:
144,000 bbl/day (2008 est.)
country comparison to the world: 56
[see also: Oil - imports country ranks ]

Oil - proved reserves:
9 million bbl (1 January 2010 est.)
country comparison to the world: 91
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
103 million cu m (2009 est.)
country comparison to the world: 78
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
6.493 billion cu m (2009 est.)
country comparison to the world: 54
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
15 million cu m (2009 est.)
country comparison to the world: 44
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
6.974 billion cu m (2009 est.)
country comparison to the world: 28
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
14.16 billion cu m (1 January 2010 est.)
country comparison to the world: 78
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$1.93 billion (2010 est.)
country comparison to the world: 156

-$2.819 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$64.18 billion (2010 est.)
country comparison to the world: 46

$55.32 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and electrical equipment 35.9%, vehicles 21%, base metals 11.3%, chemicals and minerals 8.1%, plastics 4.9% (2009 est.)

Exports - partners:
Germany 20.1%, Czech Republic 12.9%, France 7.8%, Poland 7.2%, Hungary 6.3%, Italy 6.1%, Austria 5.8%, UK 4.8% (2009)

Imports:
$62.43 billion (2010 est.)
country comparison to the world: 41

$53.67 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment 31%, mineral products 13%, vehicles 12%, base metals 9%, chemicals 8%, plastics 6% (2009 est.)

Imports - partners:
Germany 16.8%, Czech Republic 12.3%, Russia 9%, South Korea 6.8%, China 5.8%, Hungary 5.3%, Poland 4% (2009)

Reserves of foreign exchange and gold:
$NA (31 December 2010 est.)

$1.16 billion (31 January 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$59.33 billion (30 June 2010 est.)
country comparison to the world: 50

$52.53 billion (31 December 2008)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$52.2 billion (31 December 2010 est.)
country comparison to the world: 53

$50.26 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$2.643 billion (31 December 2010 est.)
country comparison to the world: 63

$2.743 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Slovak koruny (SKK) per US dollar - 0.774 (2010), 0.718 (2009), 21.05 (2008), 24.919 (2007), 29.611 (2006)


NOTE: The information regarding Slovakia on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovakia Economy 2011 information contained here. All suggestions for corrections of any errors about Slovakia Economy 2011 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfb2011/slovakia/slovakia_economy.html


This page was last modified 09-Feb-11
Copyright © 1995-2011 ITA all rights reserved.