Economy - overview:
Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. Reforms to the taxation, healthcare, pension, and social welfare systems helped Slovakia consolidate its budget and get on track to join the EU in 2004 after a period of relative stagnation in the early and mid 1990s and to adopt the euro in January 2009. Major privatizations are nearly complete, the banking sector is almost entirely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies. Slovakia's economic growth exceeded expectations in 2001-08 despite a general European slowdown. Foreign direct investment (FDI), especially in the automotive and electronic sectors, fueled much of the growth until 2008. Cheap and skilled labor, low taxes, a 19% flat tax for corporations and individuals, no dividend taxes, a relatively liberal labor code and a favorable geographical location are Slovakia's main advantages for foreign investors. The economy contracted 5% in 2009 primarily as a result of smaller inflows of FDI and reduced demand for Slovakia's exports before rebounding 4% in 2010 and 3% in 2011. Unemployment rose above 12% in 2010-11. The government of Prime Minister Iveta RADICOVA, in power since July 2010, implemented reforms to curb corruption and improve government accountability - a major source of discontent with many Slovaks - and trimmed the budget deficit to 4.9% of GDP in 2011.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Slovakia on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovakia Economy 2012 information contained here. All suggestions for corrections of any errors about Slovakia Economy 2012 should be addressed to the CIA.
$126.9 billion (2011 est.)
country comparison to the world: 63
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$97.2 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
3.3% (2011 est.)
country comparison to the world: 119
[see also: GDP - real growth rate country ranks ]
$23,400 (2011 est.)
country comparison to the world: 57
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 3.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 35.5%
[see also: GDP - composition by sector - industry country ranks ]
services: 60.7% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
2.713 million (2011 est.)
country comparison to the world: 105
[see also: Labor force country ranks ]
agriculture: 3.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 27%
[see also: Labor force - by occupation - industry country ranks ]
services: 69.4% (December 2009)
[see also: Labor force - by occupation - services country ranks ]
12.6% (2011 est.)
country comparison to the world: 132
[see also: Unemployment rate country ranks ]
21% (2002)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 20.9% (1996)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
26 (2005)
country comparison to the world: 132
[see also: Distribution of family income - Gini index country ranks ]
21.4% of GDP (2011 est.)
country comparison to the world: 100
[see also: Investment (gross fixed) country ranks ]
revenues: $34.76 billion
[see also: Budget revenues country ranks ]
expenditures: $39.54 billion (2011 est.)
[see also: Budget expenditures country ranks ]
35.8% of GDP (2011 est.)
country comparison to the world: 57
[see also: Taxes and other revenues country ranks ]
-4.9% of GDP (2011 est.)
country comparison to the world: 147
[see also: Budget surplus (+) or deficit (-) country ranks ]
44.5% of GDP (2011 est.)
country comparison to the world: 66
note: data cover general Government Gross Debt, and includes debt instruments issued (or owned) by Government entities, including sub-sectors of central government, state government, local government, and social security funds.
[see also: Public debt country ranks ]
4% (2011 est.)
country comparison to the world: 93
[see also: Inflation rate (consumer prices) country ranks ]
1.75% (31 December 2010 est.)
country comparison to the world: 112
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks from the euro area; as of 1 January 2009 Slovakia became a member of the Economic and Monetary Union (EMU)
[see also: Central bank discount rate country ranks ]
3.8% (31 December 2011 est.)
country comparison to the world: 175
[see also: Commercial bank prime lending rate country ranks ]
$38.99 billion (31 December 2011 est.)
country comparison to the world: 53
note: this figure represents the US dollar value of Slovak koruny in circulation prior to Slovakia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]
$56.88 billion (31 December 2011 est.)
country comparison to the world: 66
[see also: Stock of broad money country ranks ]
$72.98 billion (31 December 2011 est.)
country comparison to the world: 60
[see also: Stock of domestic credit country ranks ]
$4.15 billion (31 December 2010)
country comparison to the world: 82
[see also: Market value of publicly traded shares country ranks ]
grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry; forest products
metal and metal products; food and beverages; electricity, gas, coke, oil, nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products
9% (2011 est.)
country comparison to the world: 14
[see also: Industrial production growth rate country ranks ]
24.7 billion kWh (2009 est.)
country comparison to the world: 66
[see also: Electricity - production country ranks ]
28.75 billion kWh (2009 est.)
country comparison to the world: 62
[see also: Electricity - consumption country ranks ]
7.682 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]
1.312 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
8,281 bbl/day (2010 est.)
country comparison to the world: 89
[see also: Oil - production country ranks ]
83,810 bbl/day (2010 est.)
country comparison to the world: 85
[see also: Oil - consumption country ranks ]
78,940 bbl/day (2009 est.)
country comparison to the world: 69
[see also: Oil - exports country ranks ]
139,200 bbl/day (2009 est.)
country comparison to the world: 59
[see also: Oil - imports country ranks ]
103 million cu m (2010 est.)
country comparison to the world: 79
[see also: Natural gas - production country ranks ]
6.413 billion cu m (2010 est.)
country comparison to the world: 55
[see also: Natural gas - consumption country ranks ]
808 million cu m (2009 est.)
country comparison to the world: 39
[see also: Natural gas - exports country ranks ]
6.425 billion cu m (2010 est.)
country comparison to the world: 30
[see also: Natural gas - imports country ranks ]
14.16 billion cu m (1 January 2011 est.)
country comparison to the world: 78
[see also: Natural gas - proved reserves country ranks ]
-$2.899 billion (2011 est.)
country comparison to the world: 164
[see also: Current account balance country ranks ]
$86.62 billion (2011 est.)
country comparison to the world: 44
[see also: Exports country ranks ]
machinery and electrical equipment 35.9%, vehicles 21%, base metals 11.3%, chemicals and minerals 8.1%, plastics 4.9% (2009 est.)
Germany 20.1%, Czech Republic 14.8%, Poland 7.9%, Hungary 7.3%, France 7.2%, Austria 7.1%, Italy 5.8% (2010)
$85.46 billion (2011 est.)
country comparison to the world: 38
[see also: Imports country ranks ]
machinery and transport equipment 31%, mineral products 13%, vehicles 12%, base metals 9%, chemicals 8%, plastics 6% (2009 est.)
Czech Republic 18.9%, Germany 18.3%, Russia 9.5%, Hungary 7.4%, Poland 5.6%, South Korea 5.1%, Austria 4.9%, Italy 4.1% (2010)
$2.161 billion (31 December 2010 est.)
country comparison to the world: 116
[see also: Reserves of foreign exchange and gold country ranks ]
$75.9 billion (30 June 2011 est.)
country comparison to the world: 50
[see also: Debt - external country ranks ]
$52.79 billion (31 December 2011 est.)
country comparison to the world: 54
[see also: Stock of direct foreign investment - at home country ranks ]
$3.08 billion (31 December 2011 est.)
country comparison to the world: 65
[see also: Stock of direct foreign investment - abroad country ranks ]
euros (EUR) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
Flags
This page was last modified 07-Mar-12