Slovakia's gross domestic product advanced 1.3 percent year-on-year in the third quarter of 2021, matching preliminary estimates, and following a 9.6 percent growth in the previous three-month period. It was the third consecutive quarter of economic expansion, but at a weaker pace, amid fading low-base effects from the pandemic shock last year. There was a slowdown in household consumption (2.5 percent vs 5 percent in Q2) and declines in both fixed investment (-1.9 percent vs 5.6 percent) and foreign demand, as exports fell 3 percent (vs 39.3 percent in Q2) while imports rose 3.5 percent (vs 39.2 percent Q2). Government spending also decreased 1 percent, after rising 8.1 percent in the previous period. On a seasonally adjusted quarterly basis, the economy rose 0.4 percent, following a 1.9 percent increase in the second quarter of 2021. The economy remains 0.7% below the pre-pandemic level. source: Statistical Office of the Slovak Republic
GDP Annual Growth Rate in Slovakia averaged 3.53 percent from 1996 until 2021, reaching an all time high of 13.60 percent in the fourth quarter of 2007 and a record low of -10.90 percent in the second quarter of 2020. This page provides - Slovakia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovakia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Annual Growth Rate in Slovakia is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 5.50 percent in 2022 and 3.90 percent in 2023, according to our econometric models.