Slovakia's gross domestic product advanced 3.1% year-on-year in the first quarter of 2022, matching preliminary estimates, and following a 1.4% growth in the previous three-month period. The expansion was supported mainly by domestic demand, in particular household consumption (9.1% vs 2.8% in Q4) and investment activity (6.4% vs 6%). However net foreign demand contributed negatively, as exports fell by 4.5% on year while imports declined at a softer 1.3%. Overall, as for the 10 sectors of the economy, 7 of them recorded a year-on-year increase, but only 4 sectors exceeded the pre-pandemic level, namely wholesale and retail trade (+15%), real estate activities (+2.7%), information and communication (+3.4%), and public administration and defense (1.5%).On a seasonally adjusted quarterly basis, the economy rose 0.4 percent, advancing from a 0.3 percent increase in the fourth quarter of 2021. source: Statistical Office of the Slovak Republic
GDP Annual Growth Rate in Slovakia averaged 3.51 percent from 1996 until 2022, 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 July of 2022.
GDP Annual Growth Rate in Slovakia is expected to be 0.70 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 2.50 percent in 2023 and 2.70 percent in 2024, according to our econometric models.