GFmag Online Readers Survey 2012
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 bankNational Bank of Slovakia
Slovakia is part of the Eurosystem and the European Central Bank
International ReservesUS$ 2.445 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 95.177 billion (2010 estimate)
GDP (Purchasing Power Parity)126.098 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
1.4%3.5%4.6%4.8%5%6.7%8.5%10.6%
2008200920102011*
6.2%-4.8%4%3.8%

*Estimate

GDP per capita - current pricesUS$ 17,509 (2009 estimate)
GDP per capita - PPP$23,198 International Dollars (2009 estimate)
GDP (PPP) - share of world total
19801990200020102015**
N/AN/A0.14%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)0.47% (2008)

(Data released on November 2010)

Inflation
2008200920102011*
3.9%(2008)0.9%0.7%3.4%

*Estimate

Unemployment rate
2008200920102011*
9.6%12.1%14.4%(2009)13.3%

*Estimate

Household saving rates3.9% (Net saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
29.3%27.7%35.4%42%45.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-1.9%-2.3%-6.8%-8%-4.7%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: A+/Stable/A-1

Moody's rating: A1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$6.971 billionUS$5.079 billionUS$4.672 billion
Largest companies in SlovakiaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -2.7 billion (2009 estimate)(After 2008)
Current account balance by percentage of GDP-2.8% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

99.5% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.43%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.16%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$64.18 billion f.o.b. (2010 estimate)
Export commoditiesvehicles 25.9%, machinery and electrical equipment 21.3%, base metals 14.6%, chemicals and minerals 10.1%, plastics 5.4% (2004)
Total importsUS$79.76 billion f.o.b. (2008 estimate)
Import commoditiesmachinery and transport equipment 41.1%, intermediate manufactured goods 19.3%, fuels 12.3%, chemicals 9.8%, miscellaneous manufactured goods 10.2% (2003)
Exports - major partnersGermany 21.4%, Czech Republic 12.6%, France 6.7%, Italy 6.4%, Poland 6.2%, Hungary 6%, Austria 5.8%, UK 4.8% (2007)
Imports - major partnersGermany 22.1%, Czech Republic 17.3%, Russia 9.2%, Hungary 6.7%, Austria 5.1%, Poland 4.9%, South Korea 4.7% (2007)
FDI inflows
200820092010
US$4,687 millionUS$-50 million(2009)US$526 million(2009)
FDI outflows
200820092010
US$530 millionUS$432 millionUS$328 million
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)US$-18 million
Cross-border M&A deals worth over $3 billion completed in 2008

(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 2010

(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 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 41 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 68 out of 183 countries(2009)

Registering property: 9 out of 183 countries

Paying Taxes: 122 out of 183 countries

Getting credit: 15 out of 183 countries

Protecting investors: 109 out of 183 countries

Trading across border: 102 out of 183 countries

Enforcing Contracts: 71 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		69

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 37 Score: 69.5 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+1
Total area 49,035 km2 (2006)
CapitalBratislava (2009)
Currencyeuros (EUR) (2009)
Government typeparliamentary democracy (2009)
LanguagesSlovak (official) 83.9%, Hungarian 10.7%, Roma 1.8%, Ukrainian 1%, other or unspecified 2.6% (2001 census)
ReligionsRoman Catholic 68.9%, Protestant 10.8%, Greek Catholic 4.1%, other or unspecified 3.2%, none 13% (2001 census)
Total population
1980199020002010*2015**
N/AN/A5.4 million5.42 million5.45 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
33.5%51.6%56.3%56.7%
Population median age36.0 years (2006)
Population growth rate0.2% (2009)
Life expectancy75 years (2007)
Adult literacyN/A
% of population living on less than $2 a day<2% (2011)
Inequality of wealth distribution (Gini index)

25.8 (1996)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

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

Total telephone subscribers as % of population

128.59% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population79.42% (Data were released in 2011 and refer to 2010)
Cost of living 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)

6.9553 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

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

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks mBank (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Tatra Banka (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Tatra Banka (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S SAFEST BANKS

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

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Tatra Banka (National, 2012)
  • COUNTRY WINNERS Nova Ljubljanska Banka (National, 2012)
2011:
  • COUNTRY WINNERS Slovenska Sporitelna (Erste Bank) (National, 2011)
2010:
  • COUNTRY WINNERS Tatra Banka (National, 2010)
2009:
  • COUNTRY WINNERS Tatra Banka (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS CSOB (National, 2011)
2010:
  • COUNTRY WINNERS ING (National, 2010)

CENTRAL BANKER REPORT CARD

2010:

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Slovenska sporitelna (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

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