Browse a full set of economic indicators

Slovak Republic

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.

Basic Information

Government Type: Parliamentary republic

Capital City: Bratislava

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank National Bank of Slovakia
Currency Euros (EUR)
International Reserves USD 9.62 billion (2021)
International Monetary Fund (IMF), data retrieved January 2022
Gross Domestic Product – GDP USD 116.75 billion (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP (Purchasing Power Parity) USD 194.08 billion (2021 estimate)
IMF – World Economic Outlook, October 2021

GDP Data

Real GDP growth 2017 3%
2018 3.7%
2019 2.5%
2020* -4.8%
2021* 4.4%

*Estimate
GDP per capita – current prices USD 21,383.29 (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP per capita – PPP USD 35,547.48 (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP (PPP) – share of world total 0.13% (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP – composition by sector
agriculture: 2.2%
industry: 26.4%
services: 61.0%
(2020 estimate)
Gross domestic expenditure on R&D; (% of GDP) 0.8% (2019)
Inflation 2017 1.4%
2018 2.5%
2019 2.8%
2020 2%
2021* 2.4%

*Estimate

Inflation & Debt

Inflation 2017 1.4%
2018 2.5%
2019 2.8%
2020 2%
2021* 2.4%

*Estimate
Government Bond Ratings Standard & Poor’s: A+

Moody’s: A2

Standard & Poor’s / Moody’s (Updated January 2017)
Unemployment rate 2017 8.1%
2018 6.5%
2019 5.8%
2020 6.7%
2021* 6.8%

*Estimate
Household saving rates 5.1% (2020)

OECD, retrieved January 2022
Public debt (General government gross debt as a % of GDP) 2017 51.6%
2018 49.7%
2019 48.2%
2020 60.3%
2021* 61.4%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2017 0.2%
2018 0.2%
2019 –0.3%
2020 -5.1%
2021* -6.6%

*Estimate
Market value of publicly traded shares USD 5.4 billion (2014)
World Bank / Market capitalization
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 85.4% (2020)
World Bank – World Development Indicators (updated Feb 2022)
Shares in world total merchandising export
0.49% (2020)
United Nations Conference on Trade and Development (UNCTAD)
Shares in world total commercial services export 0.2% (2020)

Total exports USD 89.7 billion (2020 estimate)
Export commodities Cars and vehicle parts, video displays, broadcasting equipment, tires, refined petroleum (2019)
Total imports USD 87.8 billion (2020 estimate)
Import commodities Cars and vehicle parts, broadcasting equipment, crude petroleum, natural gas, insulated wiring (2019)
Exports – major partners Germany 22%, Czechia 11%, Poland 7%, France 7%, Hungary 6%, Austria 5%, United Kingdom 5% (2019)

Imports – major partners Germany 18%, Czechia 18%, Poland 8%, Hungary 7%, Russia 5% (2019)

Competitiveness & Trade

Current account balance USD -1.1 billion (2021 estimate)
IMF – World Economic Outlook, October 202
Current account balance by percentage of GDP -0.92% (2021 estimate)
IMF – World Economic Outlook, October 2021
FDI inflows 2019 USD 1.7 billion
2020 USD 2.4 billion
2021 USD –1.9 billion
FDI Outflows 2019 USD 322 billion
2020 USD 153 billion
2021 USD 233 billion
Value of cross-border M&A, by country of purchaser N/A
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
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: 45 out of 190 countries (2020)

Subcategories:

Starting a Business: 118 out of 190 countries
Dealing with Construction Permits: 146 out of 190 countries
Getting Electricity: 54 out of 190 countries
Registering Property: 8 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 88 out of 190 countries
Paying Taxes: 55 out of 190 countries
Trading across Borders: 1 out of 190 countries
Enforcing Contracts: 46 out of 190 countries
Resolving Insolvency: 46 out of 190 countries
World Bank – Doing Business 2020
Global competitiveness ranking 35 out of 141 (2019)
Index of Economic Freedom Ranking: 36 / Score: 69.7 (Moderately Free)
The Heritage Foundation – 2022 Index of Economic Freedom

Population & Geographic Data

Total Area 49,035 sq km
Total Population 1990 N/A
2000 5.4 Million
2010 5.39 Million
2015 5.42 Million
2020 5.46 Million
Urban population as % of total population 1960 33.5%
1980 51.6%
2000 56.2%
2020 53.8%
Population median age 41.8 years (2020 estimate)


CIA World Factbook / Population median age
Population growth rate -0.1% (2022 est.)
Life expectancy 78.3 years (2020 estimate)
% of population living on less than $3.10 a day 0.4% (last available estimate, 2019)
Inequality of wealth distribution (Gini index) 23.2 (last available estimate, 2019)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Total score: 90/100

Status: Free

Political Rights: 37/40

Civil Liberties: 53/60 (2022)
Total telephone subscribers as % of population Fixed: 11.9%

Mobile: 133.5% (2020)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 89.9% (2020)

Language & Religon

Languages Slovak (official) 78.6%, Hungarian 9.4%, Roma 2.3%, Ruthenian 1%, other or unspecified 8.8% (2011 est.)
Literacy N/A
Religions Roman Catholic 62%, Protestant 8.2%, Greek Catholic 3.8%, other or unspecified 12.5%, none 13.4% (2011 est.)

World Rankings

Population 5.46 million
Mercer Cost of living index N/A
C02 Emissions per capita 6.1 metric tons per capita (2018)

Global Finance Rankings & Awards: Slovak Republic

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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