Slovakia


Slovakia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Slovakia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank National Bank of Slovakia
Slovakia is part of the Eurosystem and the European Central Bank
International Reserves US$ 2.418 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 94.552 billion (2011 estimate)
GDP (Purchasing Power Parity) 131.627 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
3.5% 4.6% 4.8% 5% 6.7% 8.5% 10.6% 5.8%
2009 2010 2011 2012*
-4.9% 4.2% 3.3% 2.4%

*Estimate

GDP per capita - current prices US$ 17,344 (2010 estimate)
GDP per capita - PPP $24,145 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
N/A N/A 0.14% 0.16% 0.16%

**Forecast

GDP - composition by sector
  • agriculture: 3.8% 
  • industry: 35.5% 
  • services: 60.7% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 0.63% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
0.9%(2008) 0.7% 4.1% 3.8%

*Estimate

Unemployment rate
2009 2010 2011 2012*
12.1% 14.4% 13.4%(2009) 13.8%

*Estimate

Household saving rates 2.5% (Net saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
27.9% 35.6% 41.1% 44.6% 47.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-2.1% -8% -7.9% -5.5% -4.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: A

Moody's rating: A2

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$4.672 billion US$4.15 billion US$4.736 billion
Largest companies in Slovakia N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -360 million (2011 estimate)(After 2008)
Current account balance by percentage of GDP -0.4% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

81.1% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.43%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.16% (2011)(2007)

(Data were released in 2012)

Total exports US$77.82 billion (2012 estimate) 
Export commodities machinery and electrical equipment 35.9%, vehicles 21%, base metals 11.3%, chemicals and minerals 8.1%, plastics 4.9% (2009 est.)
Total imports US$74.29 billion (2012 estimate) 
Import commodities machinery and transport equipment 31%, mineral products 13%, vehicles 12%, base metals 9%, chemicals 8%, plastics 6% (2009 est.)
Exports - major partners Germany 21.4%, Czech Republic 15.2%, Poland 7.9%, Hungary 7.8%, Austria 7.5%, France 6.7%, Italy 5.3% (2009 estimate)
Imports - major partners Germany 19.2%, Czech Republic 18.5%, Russia 11.4%, Hungary 7%, Poland 5.5%, Austria 4.6%, Italy 4.1%, China 4% (2009 estimate)
FDI inflows
2009 2010 2011
US$-6 million US$526 million(2009) US$2,143 million(2009)
FDI outflows
2009 2010 2011
US$904 million US$327 million US$490 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) N/A(2009) US$-18 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 46 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 83 out of 185 countries(2009)

Enforcing Contracts: 69 out of 185 countries

Registering Property: 8 out of 185 countries

Getting credit: 23 out of 185 countries

Protecting investors: 117 out of 185 countries

Trading across border: 98 out of 185 countries

Paying Taxes: 100 out of 185 countries

Dealing with Construction Permits: 46 out of 185 countries

Getting Electricity: 100 out of 185 countries

Resolving Insolvency: 38 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
71

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 51 Score: 67.0 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+1
Total area 49,035 km2 (2006)
Capital Bratislava (2009)
Currency euros (EUR) (2009)
Government type parliamentary democracy (2009)
Languages Slovak (official) 83.9%, Hungarian 10.7%, Roma 1.8%, Ukrainian 1%, other or unspecified 2.6% (2001 census)
Religions Roman Catholic 68.9%, Protestant 10.8%, Greek Catholic 4.1%, other or unspecified 3.2%, none 13% (2001 census)
Total population
1980 1990 2000 2012* 2017**
N/A N/A 5.4 million 5.45 million 5.48 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
33.5% 51.6% 56.3% 54.8%
Population median age 37 years (2010)
Population growth rate 0.2% (2011)
Life expectancy 75 years (2010)
Adult literacy N/A
% of population living on less than $2 a day <2% (2011)
Inequality of wealth distribution (Gini index)

26 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

128.65% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 74.44% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Bratislava: 57th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

6.2161 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S SAFEST EMERGING MARKETS BANKS

2012:
  • REGIONAL WINNERS Všeobecná úverová banka (VÚB) (National, 2012)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Tatra banka (National, 2013)
2012:
  • COUNTRY WINNERS Tatra banka (Africa, 2012)
2011:
  • COUNTRY WINNERS Tatra banka (National, 2011)
2010:
  • COUNTRY WINNERS Tatra banka (Global, 2010)
2009:
  • COUNTRY WINNERS Ceskoslovenska Obchodni Banka (CSOB) (Africa, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Africa, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Tatra Bank (Africa, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks mBank (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Non-GCC Middle East/North Africa, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Tatra Banka (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Sub-Saharan Africa, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Tatra Banka (Global, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Global, 2009)

WORLD'S SAFEST BANKS

2013:
  • REGIONAL WINNERS Všeobecná úverová banka VÚB (Central & Eastern Europe, 2013)
2012:
  • REGIONAL WINNERS Všeobecná úverová banka (VÚB) (National, 2012)
2011:
  • REGIONAL WINNERS Vseobecna uverova banka (VUB) (Gill Marcus, 2011)
2010:
  • REGIONAL WINNERS Ceskoslovenska Obchodni Banka (CSOB) (National, 2010)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Tatra Banka (Africa, 2012)
  • COUNTRY WINNERS Nova Ljubljanska Banka (Africa, 2012)
2011:
  • COUNTRY WINNERS Slovenska Sporitelna (Erste Bank) (Sub-Saharan Africa, 2011)
2010:
  • COUNTRY WINNERS Tatra Banka (Global, 2010)
2009:
  • COUNTRY WINNERS Tatra Banka (Africa, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS UniCredit Bank Slovakia (Africa, 2012)
2011:
  • COUNTRY WINNERS CSOB (Africa, 2011)
2010:
  • COUNTRY WINNERS ING (Global, 2010)

CENTRAL BANKER REPORT CARD

2010:

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Slovenska sporitelna (Gill Marcus, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS CSOB (Global, 2013)
  • COUNTRY WINNERS UniCredit (Africa, 2013)
2012:
  • COUNTRY WINNERS CSOB (National, 2012)
2011:
  • COUNTRY WINNERS CSOB (National, 2011)
2010:
  • COUNTRY WINNERS Ceskoslovenska Obchodni Banka (CSOB) (Global, 2010)
2009:
  • COUNTRY WINNERS Ceskoslovenska Obchodni Banka (CSOB) (Africa, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE