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Slovakia Economy 2017
https://theodora.com/wfbcurrent/slovakia/slovakia_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Slovakia Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. With a population of 5.4 million, the Slovak Republic has a small, open economy, with exports, at about 93% of GDP, serving as the main driver of GDP growth. Slovakia joined the EU in 2004 and the euro zone in 2009. The country’s banking sector is sound.Slovakia has led the region garnering FDI, because of its relatively low-cost, highly-skilled labor force, reasonable tax rates, and favorable geographic location in the heart of Central Europe. However, recent increases in corporate taxes, as well as changes to the Labor Code, slow dispute resolution, and ongoing corruption potentially threaten the attractiveness of the Slovak market. Moreover, the energy sector is characterized by high costs, unpredictable regulatory oversight, and growing government interference.

GDP (purchasing power parity):
$169.1 billion (2016 est.) $163.4 billion (2015 est.) $157.8 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 71
[see also: GDP country ranks ]

GDP (official exchange rate):
$90.26 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.4% (2016 est.) 3.6% (2015 est.) 2.5% (2014 est.)
country comparison to the world: 81
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$31,200 (2016 est.) $30,200 (2015 est.) $29,100 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 61
[see also: GDP - per capita country ranks ]

Gross national saving:
21.8% of GDP (2016 est.) 21.6% of GDP (2015 est.) 21.1% of GDP (2014 est.)
country comparison to the world: 71
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 55.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 94.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -91.6% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 31.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 64.8% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
automobiles; metal and metal products; electricity, gas, coke, oil, nuclear fuel; chemicals, synthetic fibers, wood and paper products; machinery; earthenware and ceramics; textiles; electrical and optical apparatus; rubber products; food and beverages; p

Industrial production growth rate:
4.3% (2016 est.)
country comparison to the world: 48
[see also: Industrial production growth rate country ranks ]

Labor force:
2.724 million (2016 est.)
country comparison to the world: 109
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 4.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 73.2% (2015)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
9.8% (2016 est.) 11.5% (2015 est.)
country comparison to the world: 115
[see also: Unemployment rate country ranks ]

Population below poverty line:
12.6% (2014 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 26% (2013 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
26 (2013) 25.7 (2011)
country comparison to the world: 138
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $34.87 billion
[see also: Budget revenues country ranks ]
expenditures: $37.04 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
38.6% of GDP (2016 est.)
country comparison to the world: 42
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.4% of GDP (2016 est.)
country comparison to the world: 79
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
52.4% of GDP (2016 est.) 52.9% of GDP (2015 est.)
note: data cover general Government Gross Debt, and includes debt instruments issued (or owned) by Government entities, including sub-sectors of central government, state government, local government, and social security funds
country comparison to the world: 82
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.3% (2016 est.) -0.3% (2015 est.)
country comparison to the world: 21
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (9 December 2015) 0.05% (10 September 2014)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks from the euro area; Slovakia became a member of the Economic and Monetary Union (EMU) on 1 January 2009
country comparison to the world: 141
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
2.7% (31 December 2016 est.) 2.78% (31 December 2015 est.)
country comparison to the world: 170
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$42.43 billion (31 December 2016 est.) $43 billion (31 December 2015 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of
country comparison to the world: 54
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$58.76 billion (31 December 2016 est.) $58.41 billion (31 December 2015 est.)
country comparison to the world: 64
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$66.15 billion (31 December 2016 est.) $67.67 billion (31 December 2015 est.)
country comparison to the world: 59
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.634 billion (31 December 2015 est.) $4.732 billion (31 December 2014 est.) $4.801 billion (31 December 2013 est.)
country comparison to the world: 85
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$885 million (2016 est.) -$1.128 billion (2015 est.)
country comparison to the world: 119
[see also: Current account balance country ranks ]

Exports:
$74.35 billion (2016 est.) $73.12 billion (2015 est.)
country comparison to the world: 40
[see also: Exports country ranks ]

Exports - commodities:
vehicles and related parts 27%, machinery and electrical equipment 20%, nuclear reactors and furnaces 12%, iron and steel 4%, mineral oils and fuels 5% (2015 est.)

Exports - partners:
Germany 22.7%, Czech Republic 12.5%, Poland 8.5%, Austria 5.7%, Hungary 5.7%, France 5.6%, UK 5.5%, Italy 4.5% (2015)

Imports:
$71.47 billion (2016 est.) $71.09 billion (2015 est.)
country comparison to the world: 39
[see also: Imports country ranks ]

Imports - commodities:
machinery and electrical equipment 20%, vehicles and related parts 14%, nuclear reactors and furnaces 12%, fuel and mineral oils 9% (2015 est.)

Imports - partners:
Germany 19.4%, Czech Republic 17.4%, Austria 9.1%, Hungary 6.3%, Poland 6.3%, South Korea 5.5%, Russia 5.2%, China 4.1% (2015)

Reserves of foreign exchange and gold:
$2.657 billion (31 December 2016 est.) $2.892 billion (31 December 2015 est.)
country comparison to the world: 107
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$75.04 billion (31 March 2016 est.) $74.19 billion (31 March 2015 est.)
country comparison to the world: 56
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$59.81 billion (31 December 2016 est.) $56.31 billion (31 December 2015 est.)
country comparison to the world: 56
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$12.11 billion (31 December 2016 est.) $10.71 billion (31 December 2015 est.)
country comparison to the world: 59
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.9214 (2016 est.) 0.885 (2015 est.) 0.885 (2014 est.) 0.7634 (2013 est.) 0.7752 (2012 est.)


NOTE: The information regarding Slovakia on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovakia Economy 2017 information contained here. All suggestions for corrections of any errors about Slovakia Economy 2017 should be addressed to the CIA.




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