SLOVAKIA: BRIGHT PROSPECTS
FRONTIER MARKETS REPORT | SLOVAKIA
Slovakia has moved resolutely to compete with other former Soviet-bloc nations for foreign direct investment.
Slovak Republic GDP and Economic Data
Country Report 2017 - Includes Slovak Republic real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Slovak Republic economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Slovak Republic best banks and safest banks are also available.
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International Reserves
USD 1.8 billion (2016)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 94.8 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 178.4 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 8.5% | 10.8% | 5.7% | -5.5% | 5.1% | 2.8% | 1.5% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| 1.4% | 2.5% | 3.6% | 3.4% | 3.3% |
*Estimate
GDP per capita - current prices
USD 17,475.7 (2017, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| N/A | N/A | 0.14% | 0.15% | 0.1% |
*Estimate
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GDP - composition by sector
- agriculture: 3.6%
- industry: 31.6%
- services: 64.8%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
0.9% (2014)
OECD, data retrieved January 2017
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 1.5% | -0.1% | -0.3% | -0.2% | 1.1% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 14.2% | 13.2% | 11.5% | 9.9% | 8.8% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 55% | 53.9% | 52.9% | 52.8% | 53% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| -2.7% | -2.7% | -3% | -2.3% | -2.2% |
*Estimate
Government bond ratings
Standard & Poor's: A+
Moody's: A2
Standard & Poor's / Moody's (Updated January 2017)
Source
Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| USD 4.8 billion | N/A | N/A |
Source
Current account balance by percentage of GDP
-0.6% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
93.5% (2015)
Shares in world total merchandising export
0.5% (2015)
Shares in world total commercial services export
0.2% (2015)
Export 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 estimate)
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Import commodities
Machinery and electrical equipment 20%, vehicles and related parts 14%, nuclear reactors and furnaces 12%, fuel and mineral oils 9% (2015 estimate)
Exports - major 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 - major 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)
FDI inflows
| 2013 | 2014 | 2015 |
| USD -604 million | USD -331 million | USD 803 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD -313 million | USD -123 million | USD -183 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD -29.6 million | N/A | USD -14.0 million | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 33 out of 190 countries (2017)
Subcategories:
Starting a business: 68 out of 190 countries
Enforcing Contracts: 82 out of 190 countries
Registering Property: 7 out of 190 countries
Getting Credit: 44 out of 190 countries
Protecting Minority Investors: 87 out of 190 countries
Trading Across Borders: 1 out of 190 countries
Paying Taxes: 56 out of 190 countries
Dealing with Construction Permits: 103 out of 190 countries
Getting Electricity: 53 out of 190 countries
Resolving Insolvency: 35 out of 190 countries
Source
Global competitiveness ranking
65 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 56 / Score: 66.55 (Moderately free) (2016)
(100=totally free 0=totally repressed)
Source
Source
Languages
Slovak (official) 78.6%, Hungarian 9.4%, Roma 2.3%, Ruthenian 1%, other or unspecified 8.8% (2011 est.)
Religions
Slovak (official) 78.6%, Hungarian 9.4%, Roma 2.3%, Ruthenian 1%, other or unspecified 8.8% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| N/A | 5.377 million | 5.422 million | 5.422 million | 5.425 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 34% | 52% | 56% | 54% |
% of population living on less than $3.10 a day
0.2% (2012)
Inequality of wealth distribution (Gini index)
26.1 (2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 1
Civil Liberties: 1 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 15.88% Mobile 122.31% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)