Slovakia - Economic Forecasts - 2018-2020 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90 0.8 0.8 0.7 0.7 0.5 percent
Unemployment Rate 5.90 5.8 5.6 5.4 5.4 5.1 percent
Inflation Rate 2.40 2 1.9 1.9 1.9 2.4 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade 8.50 323 235 181 172 49.73 EUR Million
Government Debt to GDP 51.90 50.5 50.5 50.5 50.5 48.2 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 1.24
1.21 1.19 1.17 1.15 1.07
Stock Market 333.34
points
329 317 306 296 223
Government Bond 10y 0.89
percent
0.99 1.13 1.28 1.45 2.39
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90
percent
0.8 0.8 0.7 0.7 0.5
GDP Annual Growth Rate 3.50
percent
3 2.9 2.8 2.7 2.6
GDP 89.55
USD Billion
85.95 88.1 90.25 95 99
GDP Constant Prices 20511.24
EUR Million
20644 20694 20707 20713 20454
Gross Fixed Capital Formation 4.86
EUR Billion
3.64 3.82 4.49 4.6 4.31
GDP per capita 19237.95
USD
20130 20130 20130 20130 21040
GDP per capita PPP 29156.09
USD
28834 29041 29248 29454 28730
GDP From Agriculture 1.08
EUR Billion
0.51 0.59 1.03 0.65 0.69
GDP From Construction 1788.00
EUR Million
762 1136 1751 1681 1612
GDP From Manufacturing 4739.00
EUR Million
4758 4828 4779 4736 4706
GDP From Public Administration 2.44
EUR Billion
2 2.13 2.4 2.33 2.28
GDP From Services 3884.00
EUR Million
3414 3768 3828 3466 3512
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 5.90
percent
5.8 5.6 5.4 5.4 5.1
Employed Persons 2543.00
Thousand
2537 2538 2537 2532 2501
Unemployed Persons 161915.00
171572 175102 179225 183510 225688
Labor Force Participation Rate 92.00
percent
91.78 91.58 91.35 91.12 89.5
Long Term Unemployment Rate 4.90
percent
5.1 5.27 5.5 5.76 8.18
Youth Unemployment Rate 17.00
percent
16.49 16.58 16.97 17.52 23.41
Labour Costs 102.20
Index Points
110 107 103 110 109
Productivity 127.50
Index Points
105 113 126 119 118
Wages 1096.00
EUR/Month
1104 1057 1085 1071 1040
Wages in Manufacturing 1083.00
EUR/Month
1095 1052 1070 1063 1029
Minimum Wages 480.00
EUR/Month
480 480 480 480 560
Population 5.44
Million
5.45 5.45 5.45 5.45 5.45
Retirement Age Women 62.17
62 62 62 62 62
Retirement Age Men 62.17
62 62 62 62 62
Living Wage Family 630.00
EUR/Month
622 620 618 616 618
Living Wage Individual 445.00
EUR/Month
433 432 431 431 434
Part Time Employment 148.90
Thousand
147 147 147 146 142
Wages High Skilled 1390.00
EUR/Month
1865 1843 1821 1799 1871
Wage Growth 3.60
percent
2.23 1.41 0.71 3.8 3.3
Wages Low Skilled 610.00
EUR/Month
777 768 760 751 779
Employment Change 0.60
percent
0.33 0.17 0.12 0.08 0.16
Employment Rate 66.40
percent
66.28 66.19 66.07 65.92 64.29
Full Time Employment 2362.20
Thousand
2354 2350 2345 2340 2288
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 2.40
percent
2 1.9 1.9 1.9 2.4
Inflation Rate Mom 0.80
percent
0.27 0.17 0.15 0.3 0.6
Harmonised Consumer Prices 101.71
Index Points
102 102 102 102 101
Consumer Price Index CPI 167.40
Index Points
168 169 169 169 168
Core Consumer Prices 119.90
Index Points
120 120 120 120 119
Core Inflation Rate 2.70
percent
2.61 2.52 2.45 1 1.6
GDP Deflator 104.29
Index Points
104 104 104 104 104
Producer Prices 102.90
Index Points
111 111 103 117 129
Export Prices 100.20
Index Points
103 104 105 106 108
Import Prices 100.80
Index Points
104 105 106 107 108
Producer Prices Change 8.10
percent
4.2 4.2 4.42 3.7 2.6
CPI Housing Utilities 237.30
Index Points
238 238 238 238 236
CPI Transportation 126.70
Index Points
128 127 127 126 123
Food Inflation 6.80
percent
5.5 5.2 5 4.8 4.8
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Money Supply M0 11.09
EUR Billion
10.99 10.95 10.9 10.86 10.4
Money Supply M1 47.10
EUR Billion
47.42 47.43 47.39 47.34 46.68
Money Supply M2 59.90
EUR Billion
60.34 60.42 60.39 60.34 59.54
Money Supply M3 60.30
EUR Billion
60.67 60.7 60.65 60.59 59.87
Banks Balance Sheet 77361.00
EUR Million
77149 76962 76770 76580 74470
Foreign Exchange Reserves 3306.30
USD Million
3416 3695 3922 4130 5734
Loans to Private Sector 18211.00
EUR Million
18135 18083 18041 18004 17643
Private Debt to GDP 132.33
percent
131 131 131 132 120
Central Bank Balance Sheet 37771.00
EUR Million
34804 34558 33966 33438 28336
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 8.50
EUR Million
323 235 181 172 49.73
Exports 5631.00
EUR Million
6899 6077 6320 6338 6079
Imports 5622.00
EUR Million
6291 5946 5994 5985 5736
Current Account 122.40
EUR Million
-117 -158 -166 -171 -175
Current Account to GDP -0.70
percent
0.7 0.7 0.7 0.7 0.9
External Debt 81.63
EUR Billion
82.44 82.25 82.06 81.69 76.97
Terms of Trade 99.47
Index Points
99.9 100 100 100 100
Foreign Direct Investment 628.90
EUR Million
530 488 463 447 416
Capital Flows 89.30
EUR Million
-62.69 -53.49 -60.08 -63.51 -64.25
Gold Reserves 31.69
Tonnes
31.76 31.84 31.92 32 32.55
Terrorism Index 0.23
0.11 0.19 0.28 0.36 0.71
Weapons Sales 6.00
USD Million
7.13 7.86 8.59 9.32 13.99
Crude Oil Production 0.20
BBL/D/1K
0.21 0.21 0.22 0.23 0.27
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 51.90
percent
50.5 50.5 50.5 50.5 48.2
Government Budget -1.70
percent of GDP
-0.8 -0.8 -0.8 -0.8 0.5
Government Budget Value 146.87
EUR Million
-534 -704 -824 -891 -972
Government Spending 3.51
EUR Billion
3.33 3.54 3.48 4.15 4.07
Government Spending to GDP 41.60
percent
45.59 44.03 42.47 40.9 43.99
Government Revenues 1096.09
EUR Million
1571 5476 5879 5136 5274
Government Debt 220.00
EUR Million
571 159 410 465 489
Fiscal Expenditure 949.22
EUR Million
3031 7188 7214 6464 6672
Military Expenditure 1036.40
USD Million
1124 1119 1114 1109 1121
Asylum Applications 10.00
persons
23.04 23.31 23.29 23.28 23.28
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence -4.70
Index Points
-0.29 -0.48 -0.38 2.1 0.5
Industrial Production -1.10
percent
2.41 3.26 3.81 1.5 1.6
Manufacturing Production -0.20
percent
2.82 3.61 4.15 4.56 5.81
Capacity Utilization 83.70
percent
81.23 81.77 80.71 79.36 74.02
Car Registrations 8050.00
7054 6408 6087 5932 5789
Internet Speed 13037.49
KBps
12197 12130 12105 11904 10989
IP Addresses 898295.00
IP
895511 894095 892321 889704 871786
Industrial Production Mom -2.70
percent
0.25 0.41 0.55 0.54 0.54
Mining Production -14.80
percent
-2.32 -1.05 -0.7 -0.62 -0.59
New Orders 3647.20
EUR Million
4271 3940 3984 3991 3775
Steel Production 422.00
Thousand Tonnes
391 377 368 363 356
Changes In Inventories 0.98
EUR Billion
0.13 0.37 0.74 -0.24 -0.09
Competitiveness Index 4.33
Points
4.36 4.36 4.36 4.36 4.47
Competitiveness Rank 59.00
64 64 64 64 57
Ease of Doing Business 39.00
41 43 46 48 45
Electricity Production 2398.00
Gigawatt-hour
2354 2294 2288 2296 2298
Corruption Index 51.00
Points
50 50 49 49 44
Corruption Rank 54.00
51 52 53 54 55
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence -3.70
Index Points
-5.48 -8.16 -10.46 -11.9 -10.8
Retail Sales MoM 1.10
percent
0.28 0.28 0.29 0.6 0.4
Retail Sales YoY 5.60
percent
4.77 4.21 3.85 1.5 0.8
Consumer Spending 10.54
EUR Billion
10.23 10.32 10.41 10.38 10.33
Disposable Personal Income 12406.00
EUR Million
11615 11975 12195 12896 12439
Personal Savings 1051.00
EUR Million
462 761 1010 2120 1915
Consumer Credit 6051.00
EUR Million
6062 6053 6040 6025 5859
Bank Lending Rate 2.60
percent
2.64 2.72 2.79 2.86 3.33
Economic Optimism Index 100.60
Index points
98.28 99.78 101 101 103
Gasoline Prices 1.46
USD/Liter
1.48 1.5 1.51 1.5 1.43
Households Debt To Income 63.11
percent
62.47 63.88 65.3 66.71 76.08
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Construction Output 3.00
percent
3.22 2.45 1.63 1.9 2.2
Housing Index 115.62
Index Points
116 114 111 107 95.74
Home Ownership Rate 89.50
percent
88.8 88.81 88.81 88.82 88.06
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 21.00
percent
21 21 21 21 22
Personal Income Tax Rate 25.00
percent
26 26 26 26 27
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate 48.60
percent
49 49 49 49 49
Social Security Rate For Companies 35.20
percent
35.34 35.34 35.34 35.34 35.64
Social Security Rate For Employees 13.40
percent
13.34 13.34 13.34 13.34 13.25
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Temperature 1.43
celsius
-1.27 12.25 16.28 3 7.73
Precipitation 15.61
mm
42.38 76.52 80.84 56.99 65.61