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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.10 0.7 0.8 0.5 0.9 0.5 percent
Unemployment Rate 5.20 5.2 5.4 5.3 5.2 5.1 percent
Inflation Rate 2.50 2.5 2.1 1.9 2 2 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade 437.00 70 360 130 290 250 EUR Million
Government Debt to GDP 50.90 50.5 49.6 49.6 49.6 48.2 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 1.14
1.15 1.14 1.13 1.13 1.1
Stock Market 329.68
points
324 319 314 310 291
Government Bond 10y 1.05
percent
1.04 1.09 1.13 1.19 1.42
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.10
percent
0.7 0.8 0.5 0.9 0.5
GDP Annual Growth Rate 4.60
percent
3.9 4.3 4.1 3.8 3.6
GDP 95.77
USD Billion
97 98 98 98 99
GDP Constant Prices 21.34
EUR Million
21.99 20.19 22.21 22.15 23.71
Gross Fixed Capital Formation 5.00
EUR Billion
5.42 4.09 5.21 5.19 5.84
GDP per capita 19897.15
USD
20130 20590 20590 20590 21040
GDP per capita PPP 30155.15
USD
31500 31600 31600 31600 31750
GDP From Agriculture 0.66
EUR Billion
0.55 0.53 0.69 0.69 0.59
GDP From Construction 1284.00
EUR Million
2015 831 1337 1333 2173
GDP From Manufacturing 5501.00
EUR Million
4996 5231 5727 5710 5388
GDP From Public Administration 2.39
EUR Billion
2.71 2.34 2.49 2.48 2.93
GDP From Services 3755.00
EUR Million
3282 3563 3909 3898 3540
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 5.20
percent
5.2 5.4 5.3 5.2 5.1
Employed Persons 2556.00
Thousand
2561 2562 2570 2573 2577
Unemployed Persons 147803.00
143223 140302 137609 135432 126806
Labor Force Participation Rate 93.40
percent
93.49 93.76 94.05 93.91 94.62
Long Term Unemployment Rate 4.20
percent
4.08 3.87 3.81 3.75 3.48
Youth Unemployment Rate 14.50
percent
14.86 15.03 15.11 15.14 15.17
Labour Costs 111.20
Index Points
120 119 115 110 126
Productivity 116.80
Index Points
116 116 115 115 115
Wages 1072.00
EUR/Month
1140 1110 1099 1091 1220
Wages in Manufacturing 1060.00
EUR/Month
1100 1060 1095 1087 1170
Minimum Wages 480.00
EUR/Month
480 525 525 525 560
Population 5.44
Million
5.44 5.44 5.44 5.44 5.45
Retirement Age Women 62.42
62.42 62.67 62.42 62.42 63
Retirement Age Men 62.42
62.42 62.67 62.42 62.42 63
Living Wage Family 640.00
EUR/Month
650 685 638 638 685
Living Wage Individual 450.00
EUR/Month
445 448 449 450 450
Part Time Employment 127.60
Thousand
132 132 132 132 135
Wages High Skilled 1250.00
EUR/Month
1440 1440 983 975 1500
Wage Growth 3.50
percent
3.8 3.4 3.5 3.6 3.3
Wages Low Skilled 678.00
EUR/Month
660 660 566 566 680
Employment Change 0.50
percent
0.32 0.28 0.25 0.26 0.3
Employment Rate 67.10
percent
67.07 67.51 67.44 67.45 67.68
Full Time Employment 2389.00
Thousand
2394 2396 2400 2401 2404
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 2.50
percent
2.5 2.1 1.9 2 2
Inflation Rate Mom 0.10
percent
0.3 0.4 0.3 0.15 0.4
Harmonised Consumer Prices 103.90
Index Points
104 105 106 106 109
Consumer Price Index CPI 169.60
Index Points
170 172 172 173 177
Core Consumer Prices 122.70
Index Points
123 124 125 125 128
Core Inflation Rate 2.70
percent
2.4 2.2 2 2.1 2
GDP Deflator 106.08
Index Points
107 107 108 108 111
Producer Prices 107.90
Index Points
107 109 110 112 115
Export Prices 100.10
Index Points
100 100 100 100 100
Import Prices 100.30
Index Points
100 100 100 100 100
Producer Prices Change 6.10
percent
3.8 3.5 3.6 3.7 3.6
CPI Housing Utilities 240.70
Index Points
241 243 244 245 251
CPI Transportation 131.40
Index Points
127 130 134 135 132
Food Inflation 2.30
percent
4.8 4.5 4.4 4.4 4.8
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Money Supply M0 11.50
EUR Billion
11.47 11.47 11.47 11.47 11.47
Money Supply M1 49.50
EUR Billion
50.47 51.38 52.29 53.2 61.13
Money Supply M2 62.30
EUR Billion
63.03 63.73 64.44 65.14 71.49
Money Supply M3 62.40
EUR Billion
63.16 63.89 64.63 65.36 71.93
Banks Balance Sheet 80153.00
EUR Million
80049 80063 80068 80068 80068
Foreign Exchange Reserves 4236.10
USD Million
4248 4287 4298 4301 4302
Loans to Private Sector 19305.00
EUR Million
19591 19828 20035 20219 21188
Private Debt to GDP 132.33
percent
136 138 139 140 149
Central Bank Balance Sheet 41064.00
EUR Million
42466 43626 44656 45566 50194
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 437.00
EUR Million
70 360 130 290 250
Exports 6980.00
EUR Million
5850 7250 6550 6695 6400
Imports 6543.00
EUR Million
5780 6890 6420 6405 6150
Current Account 110.80
EUR Million
-300 400 -250 -20 -250
Current Account to GDP -2.10
percent
-1.5 -1 -1 -1 -0.5
External Debt 99.96
EUR Billion
107 110 114 116 136
Terms of Trade 99.74
Index Points
99.77 99.77 99.76 99.77 99.77
Foreign Direct Investment 374.50
EUR Million
398 404 404 404 404
Capital Flows -9.30
EUR Million
-205 -205 -190 -185 -185
Gold Reserves 31.70
Tonnes
31.7 31.7 31.7 31.7 31.7
Terrorism Index 0.23
0.23 0.23 0.23 0.23 0.23
Weapons Sales 22.00
USD Million
14.98 15.83 16.68 17.53 16.31
Crude Oil Production 0.20
BBL/D/1K
0.2 0.2 0.2 0.2 0.2
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 50.90
percent
50.5 49.6 49.6 49.6 48.2
Government Budget -1.00
percent of GDP
-0.8 -0.2 -0.2 -0.2 0.5
Government Budget Value -340.27
EUR Million
-879 -1145 -865 -862 -913
Government Spending 3.62
EUR Billion
4.54 3.52 3.77 3.75 4.89
Government Spending to GDP 40.40
percent
40.4 40.4 40.4 40.4 40.4
Government Revenues 11658.52
EUR Million
7330 5758 7314 7098 6952
Government Debt 1565.00
EUR Million
475 627 718 504 492
Fiscal Expenditure 11998.79
EUR Million
8139 6904 8180 7960 7865
Military Expenditure 1097.60
USD Million
1080 1066 1052 1038 964
Asylum Applications 5.00
persons
15.19 15.2 15.2 15.2 15.2
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence -0.30
Index Points
1.9 2.1 2.5 2.3 1
Industrial Production 0.40
percent
2.4 2.7 1.9 1.8 1.6
Manufacturing Production 3.10
percent
3.22 3.22 3.22 3.22 3.22
Capacity Utilization 87.60
percent
83.42 85.36 84.71 83.19 76.33
Car Registrations 8071.00
7585 8244 8131 8150 8157
Internet Speed 13037.49
KBps
12598 12130 12052 12373 12219
IP Addresses 898295.00
IP
886192 890342 890492 891472 906872
Industrial Production Mom 0.90
percent
0.54 0.48 0.49 0.48 0.48
Mining Production -10.50
percent
-2.71 -1.35 -0.93 -0.81 -0.75
New Orders 4936.20
EUR Million
4291 4602 4465 4516 4504
Steel Production 440.00
Thousand Tonnes
421 416 414 413 413
Changes In Inventories 0.28
EUR Billion
-0.7 0.15 0.24 0.54 -0.39
Competitiveness Index 66.84
Points
67.34 67.34 67.34 67.34 69.84
Competitiveness Rank 41.00
41 41 41 41 41
Ease of Doing Business 42.00
39 40 40 40 39
Electricity Production 2146.00
Gigawatt-hour
2268 2161 2179 2204 2194
Corruption Index 50.00
Points
50 50 50 50 50
Corruption Rank 54.00
54 54 54 54 54
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence -3.50
Index Points
-5.5 -6.3 -7.2 -7.5 -10
Retail Sales MoM 0.20
percent
0.6 0.3 0.29 0.29 0.4
Retail Sales YoY 3.60
percent
1.5 3.55 3.49 3.47 0.8
Consumer Spending 10.63
EUR Billion
11.02 10.85 11.06 11.03 11.89
Disposable Personal Income 12524.00
EUR Million
12522 11577 12520 11579 12509
Personal Savings 790.00
EUR Million
1065 1113 1097 1102 1101
Consumer Credit 6617.00
EUR Million
6728 6839 6950 7061 8060
Bank Lending Rate 2.89
percent
2.83 2.83 2.83 3.08 3.58
Economic Optimism Index 98.00
Index points
97.84 96.9 96.78 96.58 96.51
Gasoline Prices 1.57
USD/Liter
1.55 1.52 1.49 1.46 1.35
Households Debt To Income 67.89
percent
72.49 73.6 74.71 75.82 85.09
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Construction Output 12.50
percent
9.2 6.5 5.8 4.4 2.2
Housing Index 120.99
Index Points
124 124 124 124 123
Home Ownership Rate 89.50
percent
88.82 88.72 88.62 88.52 88.03
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 21.00
percent
21 21 21 21 21
Personal Income Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate 48.60
percent
48.6 48.6 48.6 48.6 48.6
Social Security Rate For Companies 35.20
percent
35.2 35.2 35.2 35.2 35.2
Social Security Rate For Employees 13.40
percent
13.4 13.4 13.4 13.4 13.4
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 1.43
celsius
3 -1.28 12.97 10.22 7.73
Precipitation 15.61
mm
56.99 42.47 62.93 62.93 65.61



Slovakia - Economic Forecasts - 2018-2020 Outlook