Economy of Slovakia
Population: 5.45 M (2018)
GDP per Capita: 19,443 USD (2018)
105,900 M.

GDP USD

(2018)

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101,760 M.

EXPORTS USD

(2018)

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99,620 M.

IMPORTS USD

(2018)

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48.00 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 4.03 % (2018)
GDP of 2010 USD USD 112.20 B. (2018)
GDP Current USD USD 105.90 B. (2018)
GDP per Capita Current USD USD 19,443 (2018)
GDP per capita, PPP USD 31,226 (2018)
GDP per Capita, 2010 USD USD 20,599 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 18.61 % (2018)
Government Spending USD 19.71 B. (2018)
Government Debt % GDP 48.00 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 122.26 (2018)
Trade Openness 190.16 % (2018)
Exports of Goods and Services % GDP 96.09 % (2018)
Exports Goods & Services USD 101.76 B. (2018)
Exports Annual Growth 5.37 % (2018)
Imports as % GDP 94.06 % (2018)
Total Imports USD 99.62 B. (2018)
Foreign Direct Investment % GDP 2.41 % (2018)
Foreign Direct Investment USD 2.55 B. (2018)
Current Account Balance % GDP USD -2.61 % (2018)
Current Account Balance USD -2.76 B. (2018)
Trade Balance % GDP 2.03 % (2018)
Trade Balance USD 0.87 B. (2018)
Foreign Exchange Reserves incl Gold USD 5.23 B. (2018)
Remittances % GDP 2.00 % (2018)
Remittances USD 169 M. (2018)
Balance of Payments USD 179 M. (2007)

Labor Market

Indicator Value
Labor Force 2.74 M. (2019)
Unemployment Rate 6.37 % (2019)
Unemployment Rate Females 6.18 % (2019)
Unemployment Rate Males 5.05 % (2019)
Youth Unemployment (ages 15-24) 16.94 % (2019)
Labor Force Participation Rate 59.47 % (2019)
Labor Force (Percent Female) 45.38 % (2019)
Female Labor Force Participation Rate 52.48 % (2019)
Male Labor Force Participation Rate 67.00 % (2019)
Dependent People 45.09 % (2018)

Agriculture Sector

Indicator Value
Forest Area 40.40 % (2016)
Forest Area km² 19,402 km² (2016)
Agricultural Land 39.23 % (2016)
Agricultural Land km² 18,860 km² (2016)
Employment 2.66 % (2019)
Value added % GDP 2.36 % (2018)
Agriculture Value added USD 2.50 B. (2018)
Crop Production Index 118.80 (2016)
Precipitation 824 mm (2014)
Arable Land 28 % (2016)
Cereal Yield 4,856 kg/hectare (2017)
Food production index 102 (2016)
Rural Population 46 % (2018)
Fertilizer use of Arable Land 126 kg/hectare (2016)
Livestock Production Index 77 (2016)
Economy of Slovakia

According to the World Bank and its latest published data, the economy of the Slovakia presents a growth rate of 4.03 % (2018) to the previous year.

With a population that reaches 5.45 M (2018) and a gross domestic product of USD 105.90 B. (2018), it translates a Gross Domestic Product per Capita of USD 19,443 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Slovakia also has a workforce of 2.74 M. (2019) with an unemployment rate of 6.37 % (2019), where women represent 6.18 % (2019) and men 5.05 % (2019), the unemployment rate for young people between 15-24 years old stood at 16.94 % (2019). The total number of dependent people stands at 45.09 % (2018).

The central government spent 18.61 % (2018) of its gross domestic product that year, which in absolute terms is USD 19.71 B. (2018). Its consolidated public debt reached 48.00 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Slovakia exported USD 101.76 B. (2018), which represents 96.09 % (2018) of its gross domestic product, in that same sense its imports reached USD 99.62 B. (2018) with a direct foreign investment of USD 2.55 B. (2018).

Slovakia has a forest area of 19,402 km² (2016), which represents 40.40 % (2016) of its total area, an average rainfall of 824 mm (2014) per year and a population of 46 % (2018) living in rural areas. With a total area of 18,860 km² (2016) available for agriculture and 2.66 % (2019) of its employments, the agricultural sector contributes to the economy of the Slovakia about USD 2.50 B. (2018) (2.36 % (2018) of its GDP).