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 |
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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 |
Slovak Republic
Inflation & Debt
Inflation |
2017 1.4% 2018 2.5% 2019 2.8% 2020 2% 2021* 2.4% *Estimate |
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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 |
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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 |
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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.) |
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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