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Introduction - Slovakia:
Location - Slovakia:
People - Slovakia:
Government - Slovakia:
Economy - Slovakia:

Economy overview

Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive sector has been strong. Slovakias economic growth exceeded expectations in 2001-06 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 10.2% in 2006 but remains the economys Achilles heel. Slovakia joined the EU on 1 May 2004.

Gdp purchasing power parity

$99.19 billion (2006 est.)

Gdp official exchange rate

$47.72 billion (2006 est.)

Gdp real growth rate

8.3% (2006 est.)

Gdp per capita ppp

$18,200 (2006 est.)

Gdp composition by sector

agriculture: 3.8%
industry: 31.4%
services: 64.8% (2006 est.)

Labor force

2.629 million (2006 est.)

Labor force by occupation

agriculture 5.8%, industry 29.3%, construction 9%, services 55.9% (2003)

Unemployment rate

10.2% (2006 est.)

Population below poverty line

21% (2002)

Household income or consumption by percentage share

lowest 10%: 3.1%
highest 10%: 20.9% (1996)

Distribution of family income gini index

25.8 (1996)

Inflation rate consumer prices

4.4% (2006 est.)

Investment gross fixed

27.6% of GDP (2006 est.)


revenues: $24.57 billion
expenditures: $26.14 billion; including capital expenditures of $NA (2006 est.)

Public debt

36.1% of GDP (2006 est.)

Agriculture products

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

Industrial production growth rate

7.8% (2006 est.)

Electricity production

31.29 billion kWh (2005)

Electricity consumption

28.57 billion kWh (2005)

Electricity exports

11.29 billion kWh (2005)

Electricity imports

8.57 billion kWh (2005)

Oil production

11,480 bbl/day (2005 est.)

Oil consumption

74,000 bbl/day (2004 est.)

Oil exports

77,660 bbl/day (2004)

Oil imports

138,200 bbl/day (2004)

Oil proved reserves

9 million bbl (1 January 2006)

Natural gas production

135 million cu m (2005 est.)

Natural gas consumption

6 billion cu m (2005 est.)

Natural gas exports

1 million cu m (2005 est.)

Natural gas imports

6.5 billion cu m (2005 est.)

Natural gas proved reserves

15.01 billion cu m (1 January 2005 est.)

Current account balance

-$3.781 billion (2006 est.)


$39.64 billion f.o.b. (2006 est.)

Exports commodities

vehicles 25.9%, machinery and electrical equipment 21.3%, base metals 14.6%, chemicals and minerals 10.1%, plastics 5.4% (2004)

Exports partners

Germany 23.7%, Czech Republic 14.1%, Italy 6.5%, Poland 6.2%, Austria 6%, Hungary 5.8%, France 4.3%, Netherlands 4.2% (2006)


$41.84 billion f.o.b. (2006 est.)

Imports commodities

machinery and transport equipment 41.1%, intermediate manufactured goods 19.3%, fuels 12.3%, chemicals 9.8%, miscellaneous manufactured goods 10.2% (2003)

Imports partners

Germany 23.6%, Czech Republic 18.2%, Russia 11%, Hungary 6%, Austria 5.5%, Poland 4.9%, Italy 4.4% (2006)

Reserves of foreign exchange and gold

$15.75 billion (2006 est.)

Debt external

$31.5 billion (30 June 2006 est.)

Economic aid recipient

$12.67 billion in available EU structural adjustment and cohesion funds (2007-13)

Currency code

Slovak koruna (SKK)

Exchange rates

koruny per US dollar - 29.611 (2006), 31.018 (2005), 32.257 (2004), 36.773 (2003), 45.327 (2002)

Communications - Slovakia:
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This page was last updated on 16 September, 2007
Source: CIA >>>

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