Slovakia | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Slovakia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Slovakia economy.


Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.80 0.9 0.8 0.8 0.7 0.5 percent [+]
Unemployment Rate 6.50 6.1 5.8 5.6 5.4 5.1 percent [+]
Inflation Rate 1.60 1.7 2 1.9 1.9 2.4 percent [+]
Interest Rate 0.00 0 0 0 0.25 0.75 percent [+]
Balance of Trade -50.70 40.52 77.88 67.08 50.8 8.47 EUR Million [+]
Government Debt to GDP 51.90 51 50.5 50.5 50.5 48.2 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 1.18 1.16 1.15 1.13 1.12 0.99 [+]
Stock Market 309.89 321 318 315 312 276 points [+]
Government Bond 10y 0.19 0.26 0.27 0.27 0.27 0.3 percent [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.80 0.9 0.8 0.8 0.7 0.5 percent [+]
GDP Annual Growth Rate 3.30 3 3 2.9 2.8 2.6 percent [+]
GDP 89.55 93.46 90.15 87.9 85.65 99 USD Billion [+]
GDP Constant Prices 20260.62 20363 20393 20397 20396 20200 EUR Million [+]
Gross Fixed Capital Formation 3.92 4.54 3.53 3.87 3.7 4.02 EUR Billion [+]
GDP per capita 19237.95 19690 20130 20130 20130 21040 USD [+]
GDP per capita PPP 29156.09 29454 29446 29437 29429 28730 USD [+]
GDP From Agriculture 0.61 0.63 0.51 0.59 1.13 0.71 EUR Billion [+]
GDP From Construction 1176.00 1721 767 1133 1684 1596 EUR Million [+]
GDP From Manufacturing 5215.00 4899 4916 4971 4968 4888 EUR Million [+]
GDP From Public Administration 2.13 2.35 1.99 2.13 2.17 2.27 EUR Billion [+]
GDP From Services 3804.00 3387 3425 3756 3755 3468 EUR Million [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 6.50 6.1 5.8 5.6 5.4 5.1 percent [+]
Employed Persons 2526.80 2527 2524 2524 2520 2483 Thousand [+]
Unemployed Persons 178253.00 188574 192035 196324 200632 233409 [+]
Labor Force Participation Rate 91.90 91.81 91.66 91.45 91.22 89.38 percent [+]
Long Term Unemployment Rate 5.40 5.95 6.23 6.52 6.82 8.6 percent [+]
Youth Unemployment Rate 15.50 13.68 13.46 13.74 14.26 19.58 percent [+]
Labour Costs 106.90 111 110 108 98.54 107 Index Points [+]
Productivity 112.90 116 106 113 122 116 Index Points [+]
Wages 1020.00 1027 1031 1023 1022 999 EUR/Month [+]
Wages in Manufacturing 1009.00 1010 1014 1009 1006 983 EUR/Month [+]
Minimum Wages 435.00 425 447 458 459 490 EUR/Month [+]
Population 5.44 5.44 5.45 5.45 5.45 5.45 Million [+]
Retirement Age Women 62.17 61.94 61.76 61.66 61.57 61.62 [+]
Retirement Age Men 62.17 62.02 62.01 62 62 62 [+]
Employment Change 0.60 0.26 0.15 0.08 0.08 0.15 percent [+]
Employment Rate 66.10 65.83 65.76 65.62 65.43 64.09 percent [+]
Full Time Employment 2341.10 2328 2323 2318 2313 2274 Thousand [+]
Part Time Employment 145.40 144 143 143 143 139 Thousand [+]
Living Wage Family 727.00 724 724 724 724 724 EUR/Month [+]
Living Wage Individual 644.40 631 631 631 631 631 EUR/Month [+]
Wages Low Skilled 626.00 594 591 588 586 575 EUR/Month [+]
Wages High Skilled 1190.00 1101 1093 1086 1080 1053 EUR/Month [+]
Wage Growth 3.80 4.1 1.87 1.1 0.51 3.3 percent [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 1.60 1.7 2 1.9 1.9 2.4 percent [+]
Inflation Rate Mom 0.20 0.4 0.6 0.78 0.94 0.6 percent [+]
Harmonised Consumer Prices 101.05 101 101 101 101 101 Index Points [+]
Consumer Price Index CPI 165.00 165 165 165 165 165 Index Points [+]
Core Consumer Prices 118.80 119 119 119 118 118 Index Points [+]
Core Inflation Rate 2.30 2 2.13 2.09 2.05 1.6 percent [+]
GDP Deflator 103.62 103 103 103 103 103 Index Points [+]
Producer Prices 101.30 109 111 111 101 129 Index Points [+]
Export Prices 100.30 103 104 105 106 108 Index Points [+]
Import Prices 100.10 104 105 106 107 108 Index Points [+]
CPI Housing Utilities 234.80 235 235 234 234 233 Index Points [+]
CPI Transportation 124.30 124 124 124 123 122 Index Points [+]
Food Inflation 5.30 5.84 5.88 5.83 5.77 5.45 percent [+]
Producer Prices Change 7.80 6.5 4.2 4.2 1.31 2.6 percent [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 0.00 0 0 0 0.25 0.75 percent [+]
Money Supply M0 10.93 10.86 10.82 10.77 10.73 10.37 EUR Billion [+]
Money Supply M1 45.30 45.34 45.31 45.26 45.2 44.71 EUR Billion [+]
Money Supply M2 58.60 58.89 58.9 58.85 58.78 58.17 EUR Billion [+]
Money Supply M3 58.90 59.12 59.09 59.03 58.97 58.41 EUR Billion [+]
Banks Balance Sheet 75202.00 74801 74585 74371 74161 72403 EUR Million [+]
Foreign Exchange Reserves 2629.40 2909 3190 3451 3695 5247 USD Million [+]
Loans to Private Sector 18322.00 18493 18547 18547 18525 18211 EUR Million [+]
Central Bank Balance Sheet 25271.00 24328 23772 23268 22813 20242 EUR Million [+]
Private Debt to GDP 120.73 120 120 120 120 115 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade -50.70 40.52 77.88 67.08 50.8 8.47 EUR Million [+]
Exports 5982.00 5883 6049 5998 5951 5829 EUR Million [+]
Imports 6032.00 5833 5876 5870 5834 5669 EUR Million [+]
Current Account -142.20 -152 -160 -162 -164 -166 EUR Million [+]
Current Account to GDP -0.70 0.5 0.7 0.7 0.7 0.9 percent [+]
External Debt 78.79 79.49 79.34 79 78.64 75.12 EUR Billion [+]
Terms of Trade 100.21 100 100 100 100 100 Index Points [+]
Foreign Direct Investment 415.80 357 364 369 372 379 EUR Million [+]
Capital Flows -1295.80 74.63 -91.54 -35.66 -49.14 -44.25 EUR Million [+]
Gold Reserves 31.69 31.85 31.93 32.01 32.09 32.71 Tonnes [+]
Crude Oil Production 0.00 0.01 0.01 0.02 0.03 0.08 BBL/D/1K [+]
Terrorism Index 0.00 0.01 0.01 0.01 0.02 0.14 [+]
Weapons Sales 6.00 9.32 9.17 9.02 8.87 13.99 USD Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 51.90 51 50.5 50.5 50.5 48.2 percent [+]
Government Budget -1.70 -1.2 -0.8 -0.8 -0.8 0.5 percent of GDP [+]
Government Budget Value -1087.84 -1022 -1001 -991 -985 -978 EUR Million [+]
Government Spending 3.54 4.19 3.33 3.54 3.51 4.07 EUR Billion [+]
Government Spending to GDP 41.60 40.9 41.74 42.58 43.43 43.99 percent [+]
Government Revenues 9177.44 5054 4688 5315 5259 5200 EUR Million [+]
Government Debt -876.00 389 578 174 435 493 EUR Million [+]
Fiscal Expenditure 10265.28 6425 6142 6723 6637 6593 EUR Million [+]
Asylum Applications 15.00 24.07 24 23.99 23.99 23.99 persons [+]
Military Expenditure 1036.40 1109 1117 1126 1134 1121 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Business Confidence 4.00 6.4 2.08 1.72 1.41 0.5 [+]
Industrial Production -0.40 1.2 4.13 4.5 4.78 1.6 percent [+]
Manufacturing Production -0.60 3.79 4.24 4.65 4.97 5.87 percent [+]
Capacity Utilization 84.40 82.75 80.94 79.45 78.17 73.93 percent [+]
Car Registrations 7265.00 6173 5891 5788 5749 5727 Cars [+]
Changes In Inventories 0.53 -0.34 0.13 0.37 0.68 -0.09 EUR Billion [+]
Competitiveness Index 4.28 4.28 4.33 4.35 4.38 4.52 Points [+]
Competitiveness Rank 65.00 66 65 64 64 62 [+]
Ease of Doing Business 33.00 40 42 44 46 45 [+]
Electricity Production 2020.00 2336 2312 2292 2293 2297 Gigawatt-hour [+]
Corruption Index 51.00 49 49 48 48 44 Points [+]
Corruption Rank 54.00 54 54 54 54 55 [+]
New Orders 3385.50 3661 3825 3754 3727 3600 EUR Million [+]
Mining Production -7.20 -1.08 -0.55 -0.45 -0.42 -0.41 percent [+]
Industrial Production Mom -3.30 0.8 0.58 0.54 0.53 0.54 percent [+]
Steel Production 354.00 364 360 357 356 354 Thousand Tonnes [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Confidence -2.50 -12.5 -8.02 -10.45 -12.38 -10.8 [+]
Retail Sales MoM 1.50 0.9 0.25 0.27 0.27 0.4 percent [+]
Retail Sales YoY 6.80 1.2 4.22 3.85 3.62 0.8 percent [+]
Consumer Spending 10.41 10.25 10.17 10.27 10.28 10.23 EUR Billion [+]
Disposable Personal Income 11971.00 12971 11530 12010 11651 12355 EUR Million [+]
Personal Savings 754.00 2193 461 761 1022 1979 EUR Million [+]
Consumer Credit 5890.00 5920 5912 5898 5884 5754 EUR Million [+]
Bank Lending Rate 2.80 2.87 2.94 3.01 3.08 3.44 percent [+]
Economic Optimism Index 104.80 108 107 106 106 105 Index points [+]
Gasoline Prices 1.32 1.32 1.32 1.32 1.31 1.28 USD/Liter [+]
Households Debt To Income 57.55 60.68 61.34 62 62.66 67.21 percent [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Construction Output 6.00 1.1 3.76 2.57 1.66 2.2 percent [+]
Housing Index 113.09 112 110 107 104 91.95 Index Points [+]
Home Ownership Rate 89.50 88.82 88.72 88.62 88.52 88.06 percent [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 21.00 22.37 21.93 21.71 21.49 22.15 percent [+]
Personal Income Tax Rate 25.00 25.71 25.88 26.04 26.2 27.77 percent [+]
Sales Tax Rate 20.00 20.03 20.03 20.03 20.03 20.11 percent [+]
Social Security Rate 48.60 48.71 48.75 48.78 48.81 49.05 percent [+]
Social Security Rate For Companies 35.20 35.37 35.41 35.46 35.51 35.87 percent [+]
Social Security Rate For Employees 13.40 13.33 13.32 13.31 13.29 13.13 percent [+]