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.

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Slovakia GDP Annual Growth Rate


Slovakia GDP Annual Growth Rate
In Slovakia, the most important industries are engineering, chemical, electrotechnical engineering, wood-processing and food industry. On the expenditure side, household consumption is the main component of GDP and accounts for 57 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (19 percent). Exports of goods and services account for 92 percent of GDP while imports account for 88 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
1.30 9.60 13.60 -10.90 1996 - 2021 percent Quarterly
NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-11-16 08:00 AM YoY Prel Q3 1.3% 9.6% 3.1% 2.6%
2021-12-03 08:00 AM YoY Final Q3 1.3% 9.6% 1.3% 1.3%
2022-02-15 08:00 AM YoY Prel Q4 1.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.40 1.90 percent Sep/21
GDP Annual Growth Rate 1.30 9.60 percent Sep/21
GDP Constant Prices 23.08 22.00 EUR Million Sep/21
Gross Fixed Capital Formation 4.52 4.13 EUR Billion Sep/21
GDP From Services 4432.00 3910.00 EUR Million Sep/21
GDP From Public Administration 3.21 2.89 EUR Billion Sep/21
GDP From Manufacturing 4079.00 4550.00 EUR Million Sep/21
GDP From Construction 1261.00 1091.00 EUR Million Sep/21
GDP From Agriculture 0.58 0.41 EUR Billion Sep/21


News Stream
Slovak GDP Growth Slows in Q3
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.
2021-12-03
Slovak Q3 GDP Growth Below Forecasts
Slovakia's gross domestic product advanced by 1.3 percent year-on-year in the third quarter of 2021, following a 9.6 percent growth in the previous three-month period and compared with market expectations of a 3.1 percent rise, a preliminary estimate showed. The slight expansion of the Slovak economy was driven solely by domestic demand, while foreign demand declined. On the production side, growth was supported, except of automotive industry sector, more significantly by the manufacture of metal structures sector, machinery and equipment sector, and warehousing and support activities for transportation sector. On the contrary, a decline was recorded mainly in construction and land transport. On a seasonally adjusted quarterly basis, the economy expanded 0.4 percent, following a downwardly revised 1.9 percent rise in the second quarter of 2021.
2021-11-16
Slovak Q2 GDP Growth Strongest in 14 Years
Slovakia's gross domestic product jumped 9.6 percent year-on-year in the second quarter of 2021, matching preliminary estimates, and following a 0.2 percent growth in the previous three-month period. It is the highest growth rate in fourteen years, amid a low base effect from last year due to the coronavirus lockdown. Output rose primarily in key industries, especially in car production and the manufacture of basic metals. Growth was also supported by investment and domestic consumption. On a seasonally adjusted quarterly basis, the economy rose 2 percent, following a downwardly revised 1.4 percent decrease in the first quarter of 2021. Still, the economy remains 2.3% below the pre-pandemic level.
2021-09-03