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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 1 0.9 0.9 0.8 0.5 percent [+]
Unemployment Rate 7.40 7.4 7.1 6.7 6.5 5.5 percent [+]
Inflation Rate 1.10 0.9 1.2 1.3 1.5 2.4 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade 253.00 271 262 263 264 263 EUR Million [+]
Government Debt to GDP 51.90 51 51 51 50.5 48.2 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.12 1.1 1.09 1.08 1.07 0.89 [+]
Stock Market 308.30 308 305 296 299 249 points [+]
Government Bond 10y 0.24 0.2 0.2 0.21 0.21 0.24 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 1 0.9 0.9 0.8 0.5 percent [+]
GDP Annual Growth Rate 3.10 3.4 3.2 3 3 2.7 percent [+]
GDP 87.26 91.17 87.45 93.46 85.21 99 USD Billion [+]
GDP Constant Prices 20087.98 20163 20242 20311 20375 20613 EUR Million [+]
Gross Fixed Capital Formation 3.30 4.07 3.95 4.63 3.36 4.43 EUR Billion [+]
GDP per capita 18643.15 18774 18950 19125 19229 20866 USD [+]
GDP per capita PPP 28254.26 28295 28599 28903 29007 30184 USD [+]
GDP From Agriculture 0.51 0.7 0.68 0.68 0.68 0.68 EUR Billion [+]
GDP From Construction 673.00 1175 1681 1713 708 1587 EUR Million [+]
GDP From Manufacturing 4883.00 5010 4944 4890 5059 5110 EUR Million [+]
GDP From Public Administration 1.98 2.13 2.2 2.36 1.99 2.29 EUR Billion [+]
GDP From Services 3449.00 3810 3815 3374 3448 3474 EUR Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 7.40 7.4 7.1 6.7 6.5 5.5 percent [+]
Employed Persons 2512.70 2525 2531 2534 2534 2549 Thousand [+]
Unemployed Persons 200391.00 195291 193329 184803 179682 157227 [+]
Labor Force Participation Rate 91.30 92.15 92.06 92.4 92.53 93.85 percent [+]
Long Term Unemployment Rate 5.40 5 4.92 4.8 4.75 4.35 percent [+]
Youth Unemployment Rate 18.20 17.7 17.29 17.1 17.01 16.93 percent [+]
Labour Costs 109.70 105 98.35 113 111 115 Index Points [+]
Productivity 104.40 110 111 111 111 111 Index Points [+]
Wages 1039.00 1028 1025 1024 1026 1025 EUR/Month [+]
Wages in Manufacturing 1024.00 1012 1008 1008 1009 1008 EUR/Month [+]
Minimum Wages 435.00 405 436 425 448 490 EUR/Month [+]
Population 5.43 5.42 5.43 5.44 5.44 5.47 Million [+]
Retirement Age Women 62.00 61.53 61.51 61.48 61.3 59.99 [+]
Retirement Age Men 62.00 62 62 62 62 62 [+]
Employment Change 0.30 0.21 0.11 0.08 0.08 0.16 percent [+]
Employment Rate 65.30 66.03 66.06 66.16 66.31 66.85 percent [+]
Full Time Employment 2340.60 2348 2351 2351 2352 2355 Thousand [+]
Part Time Employment 148.70 151 153 155 157 175 Thousand [+]
Living Wage Family 727.00 771 779 776 777 777 EUR/Month [+]
Living Wage Individual 644.40 642 642 641 641 640 EUR/Month [+]
Wages Low Skilled 626.00 602 598 594 591 575 EUR/Month [+]
Wages High Skilled 1190.00 1122 1110 1101 1093 1053 EUR/Month [+]
Wage Growth 2.60 3.7 2.29 4.1 2.85 3.3 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.10 0.9 1.2 1.3 1.5 2.4 percent [+]
Inflation Rate Mom 0.20 0.4 0.5 0.4 0.21 0.6 percent [+]
Harmonised Consumer Prices 100.82 1.3 101 101 101 103 Index Points [+]
Consumer Price Index CPI 164.60 165 165 165 166 169 Index Points [+]
Core Consumer Prices 118.80 119 119 120 120 120 Index Points [+]
Core Inflation Rate 1.90 0.4 0.6 0.8 1.84 1.6 percent [+]
GDP Deflator 103.51 103 103 103 104 104 Index Points [+]
Producer Prices 101.40 105 107 109 111 129 Index Points [+]
Export Prices 100.50 100 100 100 100 100 Index Points [+]
Import Prices 99.40 99.9 99.94 99.95 99.95 99.94 Index Points [+]
Cpi Housing Utilities 234.60 234 234 234 233 230 Index Points [+]
Cpi Transportation 124.30 124 124 124 124 124 Index Points [+]
Food Inflation 3.50 3.88 4.23 4.21 4.21 4.21 percent [+]
Producer Prices Change 9.60 8.9 8.2 6.5 4.2 2.6 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M0 10.81 10.77 10.77 10.77 10.77 10.77 EUR Billion [+]
Money Supply M1 43.90 44.37 45.22 46.07 46.92 55.85 EUR Billion [+]
Money Supply M2 57.30 57.71 58.35 59.02 59.69 67.02 EUR Billion [+]
Money Supply M3 57.50 57.9 58.5 59.15 59.8 66.91 EUR Billion [+]
Banks Balance Sheet 73058.00 72985 72994 72995 72996 72995 EUR Million [+]
Foreign Exchange Reserves 2696.30 2696 2695 2694 2693 2693 USD Million [+]
Loans to Private Sector 17805.00 17958 18225 18449 18644 19710 EUR Million [+]
Central Bank Balance Sheet 24627.00 24428 24649 24669 24693 24704 EUR Million [+]
Private Debt to GDP 120.73 122 123 123 123 130 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 253.00 271 262 263 264 263 EUR Million [+]
Exports 5866.00 5610 6054 5972 5921 5961 EUR Million [+]
Imports 5612.00 5484 5853 5641 5739 5711 EUR Million [+]
Current Account -34.00 -84 -46.78 -58.33 -54.67 -55.56 EUR Million [+]
Current Account to GDP -0.70 0.5 0.5 0.5 0.7 0.9 percent [+]
External Debt 73.75 74.82 75.69 76.77 77.81 88.51 EUR Billion [+]
Terms of Trade 101.09 100 100 100 100 100 Index Points [+]
Foreign Direct Investment 626.80 387 366 363 363 362 EUR Million [+]
Capital Flows -709.40 57.47 42.79 53.64 51.61 51.75 EUR Million [+]
Gold Reserves 31.69 31.69 31.69 31.69 31.69 31.69 Tonnes [+]
Crude Oil Production 0.20 0.2 0.2 0.2 0.2 0.2 BBL/D/1K [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
Weapons Sales 6.00 3.96 4.37 4.79 5.16 6.9 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 51.90 51 51 51 50.5 48.2 percent [+]
Government Budget -1.70 -1 -1 -1 -0.8 0.5 percent of GDP [+]
Government Budget Value -891.48 -773 -658 -647 -666 -664 EUR Million [+]
Government Spending 3.29 3.5 3.62 4.27 3.34 4.25 EUR Billion [+]
Government Spending to GDP 41.60 43.45 41.99 40.54 41.01 40.26 percent [+]
Government Revenues 4860.77 6866 7510 6257 6560 6621 EUR Million [+]
Government Debt 1643.00 753 365 421 820 504 EUR Million [+]
Fiscal Expenditure 5752.25 8131 8699 7307 7691 7729 EUR Million [+]
Asylum Applications 15.00 18.13 18.59 18.57 18.56 18.56 persons [+]
Military Expenditure 1036.40 1055 1044 1032 1023 960 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 2.30 3.4 3.47 6.4 3.52 0.5 [+]
Industrial Production -3.20 0.2 0.6 1.2 1.66 1.6 percent [+]
Manufacturing Production -3.90 2.13 1.68 1.53 1.5 1.48 percent [+]
Capacity Utilization 86.50 85.4 85.12 83.6 82.07 74.61 percent [+]
Car Registrations 9217.00 8058 7241 7435 7508 7484 Cars [+]
Changes In Inventories 0.22 0.17 1.04 -0.38 0.27 -0.17 EUR Billion [+]
Competitiveness Index 4.28 4.27 4.27 4.27 4.36 4.63 Points [+]
Competitiveness Rank 65.00 65 65 65 55 46 [+]
Ease of Doing Business 33.00 31 34 37 36 33 [+]
Electricity Production 2404.00 2147 2147 2193 2189 2181 Gigawatt-hour [+]
Corruption Index 51.00 50 50 50 49 47 Points [+]
Corruption Rank 54.00 54 53 53 54 54 [+]
New Orders 4028.50 3966 4154 4173 4107 4140 EUR Million [+]
Mining Production -7.40 -0.6 -0.33 -0.25 -0.22 -0.21 percent [+]
Industrial Production Mom -11.00 0.09 1.33 0.64 0.6 0.57 percent [+]
Steel Production 435.00 414 401 396 395 394 Thousand Tonnes [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -3.90 -14.7 -6.95 -12.5 -11.42 -10.8 [+]
Retail Sales MoM 0.30 0.7 0.3 0.9 0.17 0.4 percent [+]
Retail Sales YoY 6.50 0.8 1 1.2 5.99 0.8 percent [+]
Consumer Spending 10.06 10.31 10.33 10.39 10.22 10.61 EUR Billion [+]
Disposable Personal Income 11192.00 12166 11194 12163 11197 12149 EUR Million [+]
Personal Savings 401.00 1565 1119 1290 1224 1243 EUR Million [+]
Consumer Credit 5636.00 5702 5800 5898 5996 7077 EUR Million [+]
Bank Lending Rate 2.98 2.98 2.94 2.95 2.95 2.95 percent [+]
Economic Optimism Index 102.80 103 104 103 103 103 Index points [+]
Gasoline Prices 1.32 1.31 1.33 1.32 1.32 1.32 USD/Liter [+]
Households Debt To Income 57.55 59.89 60.99 62.09 62.99 75.24 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 2.30 -0.2 0.6 1.1 2.44 2.2 percent [+]
Housing Index 113.40 115 115 115 114 114 Index Points [+]
Home Ownership Rate 89.30 89.69 89.38 89.08 89.04 88.68 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 21.00 22.72 22.72 22.72 21.07 20.85 percent [+]
Personal Income Tax Rate 25.00 24.9 24.85 24.81 24.81 24.77 percent [+]
Sales Tax Rate 20.00 19.99 19.99 19.99 20 20 percent [+]
Social Security Rate 48.60 48.6 48.6 48.6 48.6 48.6 percent [+]
Social Security Rate For Companies 35.20 35.2 35.2 35.2 35.2 35.2 percent [+]
Social Security Rate For Employees 13.40 13.4 13.4 13.4 13.4 13.4 percent [+]