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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.90 0.8 0.7 0.7 0.9 0.5 percent
Unemployment Rate 5.40 5.7 5.5 5.4 5.4 5.1 percent
Inflation Rate 2.90 1.9 1.9 1.9 1.9 2.4 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade 515.00 210 370 70 360 250 EUR Million
Government Debt to GDP 50.90 50.5 50.5 50.5 49.6 48.2 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 1.18
1.21 1.19 1.17 1.15 1.08
Stock Market 329.11
points
317 304 292 280 238
Government Bond 10y 0.82
percent
0.89 1 1.13 1.28 2.1
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.90
percent
0.8 0.7 0.7 0.9 0.5
GDP Annual Growth Rate 3.60
percent
2.9 2.8 2.7 2.5 2.6
GDP 89.55
USD Billion
90.05 92.22 95 97 99
GDP Constant Prices 20694.99
EUR Million
20554 20798 21254 20590 22352
Gross Fixed Capital Formation 5.21
EUR Billion
4.21 4.93 5.35 3.57 5.63
GDP per capita 19237.95
USD
20130 20130 20130 20590 21040
GDP per capita PPP 29156.09
USD
29330 29538 29746 30862 31087
GDP From Agriculture 0.53
EUR Billion
0.61 1.09 0.54 0.51 0.57
GDP From Construction 1939.00
EUR Million
1209 1813 1991 719 2094
GDP From Manufacturing 4808.00
EUR Million
5329 4805 4938 5038 5193
GDP From Public Administration 2.61
EUR Billion
2.32 2.48 2.68 2.18 2.82
GDP From Services 3159.00
EUR Million
3635 3938 3244 3327 3412
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 5.40
percent
5.7 5.5 5.4 5.4 5.1
Employed Persons 2540.20
Thousand
2538 2537 2538 2538 2538
Unemployed Persons 149611.00
161552 166394 170053 174238 212665
Labor Force Participation Rate 92.30
percent
92.06 92.06 92.06 92.06 92.06
Long Term Unemployment Rate 4.90
percent
5.27 5.5 5.76 6.03 8.18
Youth Unemployment Rate 18.40
percent
18.47 19.01 18.64 17.96 18.2
Labour Costs 116.50
Index Points
112 104 109 106 107
Productivity 120.50
Index Points
121 123 121 122 122
Wages 1088.00
EUR/Month
1110 1060 1140 1110 1220
Wages in Manufacturing 1070.00
EUR/Month
1070 1045 1100 1060 1170
Minimum Wages 480.00
EUR/Month
480 480 480 525 560
Population 5.44
Million
5.45 5.45 5.44 5.44 5.45
Retirement Age Women 62.42
62.42 62.42 62.42 62.67 63
Retirement Age Men 62.42
62.42 62.42 62.42 62.67 63
Living Wage Family 630.00
EUR/Month
650 650 650 685 685
Living Wage Individual 445.00
EUR/Month
445 445 445 445 445
Part Time Employment 143.70
Thousand
144 149 144 149 144
Wages High Skilled 1390.00
EUR/Month
1440 1440 1440 1440 1500
Wage Growth 3.30
percent
3.56 3.56 3.8 3.56 3.3
Wages Low Skilled 610.00
EUR/Month
660 660 660 660 680
Employment Change 0.50
percent
0.6 0.6 0.6 0.6 0.6
Employment Rate 66.40
percent
66.19 66.07 65.92 65.76 64.29
Full Time Employment 2367.60
Thousand
2362 2362 2362 2362 2362
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 2.90
percent
1.9 1.9 1.9 1.9 2.4
Inflation Rate Mom 0.60
percent
0.16 0.14 0.3 0.13 0.6
Harmonised Consumer Prices 103.56
Index Points
103 103 104 104 108
Consumer Price Index CPI 169.00
Index Points
168 168 169 171 177
Core Consumer Prices 122.30
Index Points
121 121 121 124 125
Core Inflation Rate 3.30
percent
1.61 1.97 1 2.42 1.6
GDP Deflator 104.60
Index Points
104 104 104 104 104
Producer Prices 105.40
Index Points
105 105 106 108 112
Export Prices 100.10
Index Points
100 100 100 100 100
Import Prices 100.00
Index Points
100 100 100 100 100
Producer Prices Change 3.30
percent
3.6 3.2 2.8 2.5 2.6
CPI Housing Utilities 238.60
Index Points
239 239 240 244 251
CPI Transportation 131.70
Index Points
126 127 126 130 132
Food Inflation 5.80
percent
5.2 5 4.8 4.5 4.8
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Money Supply M0 11.17
EUR Billion
10.98 10.97 10.97 10.97 10.97
Money Supply M1 47.50
EUR Billion
48.45 49.36 50.25 51.15 60.61
Money Supply M2 60.90
EUR Billion
60.29 59.53 58.59 57.88 58.34
Money Supply M3 61.20
EUR Billion
61.48 62.15 62.82 63.5 70.91
Banks Balance Sheet 77652.00
EUR Million
75896 75457 75901 76593 76259
Foreign Exchange Reserves 3660.00
USD Million
2993 2691 2789 2978 2911
Loans to Private Sector 18534.00
EUR Million
18639 18748 18841 18922 19356
Private Debt to GDP 132.33
percent
135 136 136 138 149
Central Bank Balance Sheet 38626.00
EUR Million
42087 44416 46500 48369 59579
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 515.00
EUR Million
210 370 70 360 250
Exports 6864.00
EUR Million
6360 6750 5850 7250 6400
Imports 6349.00
EUR Million
6150 6380 5780 6890 6150
Current Account 95.90
EUR Million
-339 -134 -294 -169 -225
Current Account to GDP -2.10
percent
0.7 0.7 0.7 1 0.9
External Debt 94.15
EUR Billion
80.21 80.21 80.21 80.21 80.21
Terms of Trade 100.06
Index Points
99.95 100 100 100 100
Foreign Direct Investment 594.10
EUR Million
-50.02 454 464 192 369
Capital Flows -510.10
EUR Million
-158 -190 -192 -192 -192
Gold Reserves 31.70
Tonnes
31.7 31.7 31.7 31.7 31.7
Terrorism Index 0.23
0.19 0.29 0.38 0.45 1.22
Weapons Sales 22.00
USD Million
22 22 22 22 22
Crude Oil Production 0.20
BBL/D/1K
0.2 0.2 0.2 0.2 0.2
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 50.90
percent
50.5 50.5 50.5 49.6 48.2
Government Budget -1.00
percent of GDP
-0.8 -0.8 -0.8 -1.8 0.5
Government Budget Value -551.00
EUR Million
3731 -1552 1151 975 827
Government Spending 4.37
EUR Billion
3.58 3.55 4.49 3.36 4.72
Government Spending to GDP 40.40
percent
43.45 41.99 40.54 41.01 40.9
Government Revenues 4202.60
EUR Million
10911 5652 8073 7579 7475
Government Debt 135.00
EUR Million
-70.1 -146 -112 -127 -122
Fiscal Expenditure 4753.50
EUR Million
7180 7204 6434 6604 6648
Military Expenditure 1097.60
USD Million
1055 1044 1032 1023 973
Asylum Applications 10.00
persons
16.32 16.42 16.44 16.43 16.43
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 7.70
Index Points
5.1 4.5 5.1 4.7 1
Industrial Production -2.30
percent
4.09 2.61 1.5 2.95 1.6
Manufacturing Production -1.90
percent
2.95 3.79 2.57 2.72 2.74
Capacity Utilization 86.30
percent
84.28 84.44 84.49 84.51 84.51
Car Registrations 8407.00
8053 8102 7940 8162 8064
Internet Speed 13037.49
KBps
11827 12254 12598 12130 12219
IP Addresses 898295.00
IP
881759 880827 886192 890342 906872
Industrial Production Mom 0.30
percent
-0.71 0.16 0.51 0.69 0.22
Mining Production -3.80
percent
-12.28 -11.1 -11.74 -11.41 -11.52
New Orders 4502.50
EUR Million
4072 4072 4072 4072 4072
Steel Production 455.00
Thousand Tonnes
397 398 398 398 398
Changes In Inventories -0.79
EUR Billion
0 0.59 0.25 0.45 0.38
Competitiveness Index 4.33
Points
4.3 4.3 4.3 4.3 4.3
Competitiveness Rank 59.00
62 62 62 62 62
Ease of Doing Business 39.00
39 39 39 39 39
Electricity Production 2229.00
Gigawatt-hour
2150 2208 2260 2238 2235
Corruption Index 50.00
Points
50 50 50 50 50
Corruption Rank 54.00
54 54 54 54 54
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence -7.70
Index Points
-4.4 -5.2 -5.4 -5.8 -10
Retail Sales MoM 0.90
percent
0.95 0.33 0.6 0.36 0.4
Retail Sales YoY 5.00
percent
6.02 5.94 1.5 5.96 0.8
Consumer Spending 10.61
EUR Billion
10.55 10.69 10.89 10.29 11.46
Disposable Personal Income 13781.00
EUR Million
12045 12148 13468 12097 12739
Personal Savings 2260.00
EUR Million
1370 1330 1338 1337 1337
Consumer Credit 6475.00
EUR Million
6585 6705 6825 6945 8253
Bank Lending Rate 3.09
percent
2.8 2.92 2.9 2.82 2.82
Economic Optimism Index 104.60
Index points
103 103 103 103 103
Gasoline Prices 1.64
USD/Liter
1.52 1.43 1.35 1.27 0.89
Households Debt To Income 63.11
percent
63.95 65.19 66.43 67.32 76.23
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Construction Output 0.60
percent
5.22 1.69 1.9 0.54 2.2
Housing Index 116.16
Index Points
114 114 114 114 114
Home Ownership Rate 89.50
percent
88.81 88.81 88.82 88.72 88.03
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 21.00
percent
21 21 21 21 21
Personal Income Tax Rate 25.00
percent
25 25 25 26 27
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate 48.60
percent
48.6 48.6 48.6 49 49
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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 1.43
celsius
12.25 16.28 3 -1.28 7.73
Precipitation 15.61
mm
76.52 80.84 56.99 42.47 65.61