The Slovak economy grew 3.6 percent year-on-year in the fourth quarter of 2016, unrevised from a preliminary estimate, slowing from a 4.6 percent expansion in the previous quarter and matching market expectations. It was the weakest growth rate since the third quarter of 2017, as imports rose 7.8 percent (vs 5.4 percent in Q3) and exports increased at a softer 4.7 percent (vs 5.6 percent in Q3). Meantime, household consumption (3.4 percent vs 3.2 percent) and government spending (3.8 percent vs 1.6 percent) advanced further. Also, fixed investment grew 9 percent, after shrinking 5.7 percent in the third quarter of the year. On a seasonally adjusted quarterly basis, the GDP increased 0.8 percent, in line with the preliminary reading and easing from a 1 percent growth in the prior period. In 2018, the economy advanced 4.1 percent over a year earlier. GDP Annual Growth Rate in Slovakia averaged 3.97 percent from 1996 until 2018, reaching an all time high of 13.50 percent in the fourth quarter of 2007 and a record low of -6 percent in the second quarter of 2009.
GDP Annual Growth Rate in Slovakia is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Slovakia to stand at 4.10 in 12 months time. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.